Thailand (THA) and Mexico (MEX) Trade | The Observatory of Economic Complexity

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Thailand-Mexico Trade: In 2023, Thailand exported $7.46B to Mexico. The main products that Thailand exported to Mexico were Office Machine Parts ($2.04B), Integrated Circuits ($727M), and Broadcasting Equipment ($669M). Over the past 5 years the exports of Thailand to Mexico have increased at an annualized rate of 4.84%, from $5.89B in 2018 to $7.46B in 2023.

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

Mexico-Thailand Trade: In 2023, Mexico exported $975M to Thailand. The main products that Mexico exported to Thailand were Motor vehicles; parts and accessories (8701 to 8705) ($105M), Other Electrical Machinery ($58.5M), and Broadcasting Equipment ($57.7M). Over the past 5 years the exports of Mexico to Thailand have increased at an annualized rate of 7.54%, from $678M in 2018 to $975M in 2023.

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

Comparison: In 2023, Thailand ranked 29 in the Economic Complexity Index (ECI 0.96), and 25 in total exports ($332B). 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, Thailand exported $7.46B to Mexico. The main products exported from Thailand to Mexico were Office Machine Parts ($2.04B), Integrated Circuits ($727M), and Broadcasting Equipment ($669M). During the last 5 years the exports of Thailand to Mexico have increased at an annualized rate of 4.84%, from $5.89B in 2018 to $7.46B in 2023.

In 2018, Mexico exported $975M to Thailand. The main products exported from Mexico to Thailand were Motor vehicles; parts and accessories (8701 to 8705) ($105M), Other Electrical Machinery ($58.5M), and Broadcasting Equipment ($57.7M). During the last 5 years the exports of Mexico to Thailand have increased at an annualized rate of 7.54%, from $678M in 2023 to $975M in 2018.

Exports from Thailand () to Mexico () (2023)

Exports from Mexico () to Thailand () (2023)

Latest Data

Trade between Thailand () and Mexico ()

Thailand Exports

Date

Mexico Exports

Date

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Thailand
Top DestinationUnited States$58.5B

Mexico
Top DestinationUnited States$456B

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

In 2023, countries that imported more from Thailand than Mexico included China ($44.1B), Japan ($24.9B), and Hong Kong ($12.6B).

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

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

Comparative Advantage Thailand - Mexico

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2023, Thailand had a large net trade with Mexico in the exports of Machines ($5.24B), Transportation ($1.13B), and Plastics and Rubbers ($365M).

During 2018, Mexico had a large net trade with Thailand in the exports of Machines ($487M), Instruments ($150M), and Transportation ($141M).

Potential Exports

Depth

Section

HS2

HS4

View

Top 20

Top 15

Top 10

Sort By

Highest Potential

Most Saturated

Section

Top Product Potential Thailand Mexico+$200MIntegrated Circuits

Top Product Potential Mexico Thailand+$97.5MMotor vehicles; parts and accessories (8701 to 8705)

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 Thailand and Mexico. This means that a dot/product with the flag of Thailand indicates it has a comparative advantage over Mexico. Similarly, a dot/product with the flag of Mexico indicates it has a comparative advantage over Thailand.

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Historical Data

Bilateral Trade by Products

Exports from Thailand () to Mexico () (2023)

Exports from Mexico () to Thailand () (2023)

Latest Data

Trade between Thailand () and Mexico ()

Thailand Exports

Mexico Exports

Market Competitiveness

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

Comparative Advantage Thailand - Mexico

Potential Exports

Potential Exports

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Economic Complexity

Competitive Landscape

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

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