2022
Flag  
GDP
$1.41TCURRENT US$
Rnk 14 / 186
2012-2022
Flag
GDP GROWTH
17.7%CURRENT US$
Rnk 127 / 186
2022
Flag
 GDP
$1.67TCURRENT US$
Rnk 13 / 186
2012-2022
Flag
GDP GROWTH
30.3%CURRENT US$
Rnk 100 / 186
2022
Flag
GDP PC 
$11,091CURRENT US$
Rnk 74 / 186
2012-2022
Flag
GDP PC GROWTH
6.89%CURRENT US$
Rnk 126 / 186
2022
Flag
GDP PC
$32,255CURRENT US$
Rnk 33 / 186
2012-2022
Flag
GDP PC GROWTH
26.7%CURRENT US$
Rnk 70 / 186

About

Mexico-South Korea Trade: In 2022, Mexico exported $7.29B to South Korea. The main products that Mexico exported to South Korea were Crude Petroleum ($3.31B), Lead Ore ($669M), and Motor vehicles; parts and accessories (8701 to 8705) ($420M). Over the past 5 years the exports of Mexico to South Korea have increased at an annualized rate of 12.7%, from $4B in 2017 to $7.29B in 2022.

In 2022, Mexico did not export any services to South Korea.

South Korea-Mexico Trade: In 2022, South Korea exported $13.8B to Mexico. The main products that South Korea exported to Mexico were Motor vehicles; parts and accessories (8701 to 8705) ($1.42B), Coated Flat-Rolled Iron ($868M), and Office Machine Parts ($790M). Over the past 5 years the exports of South Korea to Mexico have increased at an annualized rate of 0.82%,  from $13.2B in 2017 to $13.8B in 2022.

In 2005, South Korea exported services to Mexico worth $311M, with Transportation ($220M), Services not allocated ($66.6M), and Other business services ($14.8M) being the largest in terms of value.

Comparison: In 2022,  Mexico ranked 25 in the Economic Complexity Index (ECI 1.08), and 10 in total exports ($549B). That same year, South Korea ranked 4 in the Economic Complexity Index (ECI 1.78), and 5 in total exports ($705B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Mexico exported $7.29B to South Korea. The main products exported from Mexico to South Korea were Crude Petroleum ($3.31B), Lead Ore ($669M), and Motor vehicles; parts and accessories (8701 to 8705) ($420M). During the last 5 years the exports of Mexico to South Korea have increased at an annualized rate of 12.7%, from $4B in 2017 to $7.29B in 2022.

In 2017, South Korea exported $13.8B to Mexico. The main products exported from South Korea to Mexico were Motor vehicles; parts and accessories (8701 to 8705) ($1.42B), Coated Flat-Rolled Iron ($868M), and Office Machine Parts ($790M). During the last 5 years the exports of South Korea to Mexico have increased at an annualized rate of 0.82%, from $13.2B in 2022 to $13.8B in 2017.

Exports from Mexico (Flag) to South Korea (Flag) (2022)

Exports from South Korea (Flag) to Mexico (Flag) (2022)

Latest Data

Trade between Mexico (Flag) and South Korea (Flag)

Mexico Exports

South Korea Exports

Market Competitiveness

Color
Mexico
Top Destination
United States$421B
South Korea
Top Destination
China$150B

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

In 2022, countries that imported more from Mexico than South Korea included United States ($421B), Canada ($22.2B), and Colombia ($3.6B).

In 2022, countries that imported more from South Korea than Mexico included China ($150B), Vietnam ($60.7B), and Hong Kong ($28.9B).

Difference in imports from South Korea (Flag) and Mexico (Flag) (2022)

Comparative Advantage Mexico - South Korea

Flow
Scale

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

During 2022, Mexico had a large net trade with South Korea in the exports of Mineral Products ($4.73B), Transportation ($782M), and Machines ($723M).

During 2017, South Korea had a large net trade with Mexico in the exports of Machines ($6.18B), Metals ($3.22B), and Transportation ($1.61B).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Mexico South Korea+$277MCrude Petroleum
Top Product Potential South Korea Mexico+$345MIntegrated Circuits

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

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

Product Space of Mexico (Flag) and South Korea (Flag) (2022)

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