Singapore (SGP) and Mexico (MEX) Trade | The Observatory of Economic Complexity

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Singapore-Mexico Trade: In 2023, Singapore exported $2.17B to Mexico. The main products that Singapore exported to Mexico were Semiconductor Devices ($515M), Refined Petroleum ($438M), and Integrated Circuits ($311M). Over the past 5 years the exports of Singapore to Mexico have increased at an annualized rate of 5.09%, from $1.69B in 2018 to $2.17B in 2023.

In 2023, Singapore did not export any services to Mexico.

Mexico-Singapore Trade: In 2023, Mexico exported $2.35B to Singapore. The main products that Mexico exported to Singapore were Medical Instruments ($320M), Broadcasting Equipment ($285M), and Gas Turbines ($157M). Over the past 5 years the exports of Mexico to Singapore have decreased at an annualized rate of 0.66%, from $2.43B in 2018 to $2.35B in 2023.

In 2023, Mexico did not export any services to Singapore.

Comparison: In 2023, Singapore ranked 6 in the Economic Complexity Index (ECI 1.62), and 24 in total exports ($333B). That same year, Mexico ranked 25 in the Economic Complexity Index (ECI 1.09), and 8 in total exports ($603B).

Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2023, Singapore exported $2.17B to Mexico. The main products exported from Singapore to Mexico were Semiconductor Devices ($515M), Refined Petroleum ($438M), and Integrated Circuits ($311M). During the last 5 years the exports of Singapore to Mexico have increased at an annualized rate of 5.09%, from $1.69B in 2018 to $2.17B in 2023.

In 2018, Mexico exported $2.35B to Singapore. The main products exported from Mexico to Singapore were Medical Instruments ($320M), Broadcasting Equipment ($285M), and Gas Turbines ($157M). During the last 5 years the exports of Mexico to Singapore have decreased at an annualized rate of 0.66%, from $2.43B in 2023 to $2.35B in 2018.

Exports from Singapore () to Mexico () (2023)

Exports from Mexico () to Singapore () (2023)

Latest Data

Trade between Singapore () and Mexico ()

Singapore Exports

Date

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Singapore
Top DestinationHong Kong$44.5B

Mexico
Top DestinationUnited States$456B

This map shows whether countries import more from Singapore or Mexico. Each country is colored based on the difference in imports they receive from Singapore and Mexico or the difference in the growth in imports.

In 2023, countries that imported more from Singapore than Mexico included Hong Kong ($44.5B), Malaysia ($31.4B), and China ($36.7B).

In 2023, countries that imported more from Mexico than Singapore included United States ($456B), Canada ($33B), and Spain ($6.04B).

Difference in imports from Mexico () and Singapore () (2023)

Comparative Advantage Singapore - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Singapore and Mexico by product, considering products traded by both, Singapore and Mexico.

During 2023, Singapore had a large net trade with Mexico in the exports of Machines ($1.29B), Mineral Products ($438M), and Instruments ($258M).

During 2018, Mexico had a large net trade with Singapore in the exports of Machines ($1.37B), Instruments ($412M), and Mineral Products ($156M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Singapore Mexico+$369MIntegrated Circuits

Top Product Potential Mexico Singapore+N/AN/A

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Economic Complexity

Competitive Landscape

Year

This visualization shows the product space at the HS4 level with the flags of Singapore and Mexico. This means that a dot/product with the flag of Singapore indicates it has a comparative advantage over Mexico. Similarly, a dot/product with the flag of Mexico indicates it has a comparative advantage over Singapore.

About

Historical Data

Bilateral Trade by Products

Exports from Singapore () to Mexico () (2023)

Exports from Mexico () to Singapore () (2023)

Latest Data

Trade between Singapore () and Mexico ()

Singapore Exports

Mexico Exports

Market Competitiveness

Difference in imports from Mexico () and Singapore () (2023)

Comparative Advantage Singapore - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

Product Space of Singapore () and Mexico () (2023)

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