Flag Mexico / South Korea Flag

2019
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Exports
: $5.43B, Rnk 6 / 151

2019
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Top Product
: $2.47B, Crude Petroleum

2019
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Exports
: $14.3B, Rnk 8 / 215

2019
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Top Product
: $2.79B, Integrated Circuits

2019
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Economic Complexity (ECI)
: ECI 1.27, Rnk 21 / 157

2019
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Economic Complexity (ECI)
: ECI 1.95, Rnk 5 / 157

2019
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GDP
: $1.27T, CURRENT US$
Rnk 15 / 187

2009-2019
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GDP GROWTH
: 41%, CURRENT US$
Rnk 106 / 187

2019
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 GDP
: $1.65T, CURRENT US$
Rnk 12 / 187

2009-2019
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GDP GROWTH
: 74.5%, CURRENT US$
Rnk 52 / 187

2019
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GDP PC 
: $9,946, CURRENT US$
Rnk 72 / 187

2009-2019
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GDP PC GROWTH
: 24.3%, CURRENT US$
Rnk 105 / 187

2019
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GDP PC 
: $31,846, CURRENT US$
Rnk 32 / 187

2009-2019
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GDP PC GROWTH
: 66.4%, CURRENT US$
Rnk 36 / 187

Mexico-South Korea: In 2019, Mexico exported $5.43B to South Korea. The main products that Mexico exported to South Korea are Crude Petroleum ($2.47B), Zinc Ore ($290M), and Lead Ore ($290M). During the last 24 years the exports of Mexico to South Korea have increased at an annualized rate of 12.8%, from $303M in 1995 to $5.43B in 2019.

In 2019, Mexico did not exported services to South Korea.

South Korea-Mexico: In 2019, South Korea exported $14.3B to Mexico . The main products that South Korea exported to Mexico were Integrated Circuits ($2.79B), Vehicle Parts ($1.33B), and Broadcasting Accessories ($972M). During the last 24 years the exports of South Korea to Mexico have increased at an annualized rate of 11.6%, from $1.02B in 1995 to $14.3B in 2019.

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 2019,  Mexico ranked 21 in the Economic Complexity Index (ECI 1.27), and 9 in total exports ($480B). That same year, South Korea ranked 5 in the Economic Complexity Index (ECI 1.95), and 6 in total exports ($555B).

Bilateral Trade by Products

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Depth
Value

In 2019, Mexico exported $5.43B to South Korea. The main products exported from Mexico to South Korea were Crude Petroleum ($2.47B), Zinc Ore ($290M), and Lead Ore ($290M). During the last 24 years the exports of Mexico to South Korea have increased at an annualized rate of 12.8%, from $303M in 1995 to $5.43B in 2019.

In 2019, South Korea exported $14.3B to Mexico. The main products exported from South Korea to Mexico were Integrated Circuits ($2.79B), Vehicle Parts ($1.33B), and Broadcasting Accessories ($972M). During the last 24 years the exports of South Korea to Mexico have increased at an annualized rate of 11.6%, from $1.02B in 1995 to $14.3B in 2019.

Market Competitiveness

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Measure

Mexico
Top Destination
: United States, $361B

South Korea
Top Destination
: China, $136B

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 2019, countries that imported more from Mexico than South Korea were United States ($361B), Canada ($21.3B), and Colombia ($3.69B).

In 2019, countries that imported more from South Korea than Mexico were China ($136B), Vietnam ($47.8B), and Hong Kong ($31.6B).

Comparative Advantage Mexico - South Korea

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Depth

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

During 2019, Mexico had a large net trade with South Korea in the exports of Mineral Products ($3.43B), Machines ($896M), and Transportation ($368M).

During 2019, South Korea had a large net trade with Mexico in the exports of Machines ($7.47B), Metals ($2.24B), and Transportation ($1.9B).

Tariff Section

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This section shows import tariffs for products traded between Mexico and South Korea (using the HS6 product classification and the last year reported).

In 2017, the products from Mexico that paid the highest import tariffs to enter South Korea were Meat and edible offal: of fowls of the species Gallus domesticus, not cut in pieces, fresh or chilled (75%) and Meat and edible offal: of fowls of the species Gallus domesticus, not cut in pieces, frozen (75%).

In 2018, the products from South Korea that paid the highest import tariffs to enter Mexico were Cereals: fonio (Digitaria spp.) (800%) and Cereals: quinoa (Chenopodium quinoa) (800%).

Explore Tariff Data

*The tariffs present between Mexico and South Korea are:
136: Most Favoured Nation duty rate treatement

Bilateral Service Trade

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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.

Service trade data is presented based on availability.

Economic Complexity

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Competitive Landscape

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This visualization show the product space at the HS4 level colored from blue to red.  This mean that the more blue a dot/product is, the more Mexico has comparative advantage over South Korea. Similarly, the more red a dot/product is, the more South Korea has comparative advantage over Mexico.