Mexico-India Bilateral Trade Analysis 2023
Complete trade statistics: $9.83B total volume •Mexico deficit: $1.72B
Mexico → India
$4.05B
Exports (2023)
India → Mexico
$5.77B
Imports (2023)
Trade Balance
$1.72B
Deficit for Mexico
Total Trade
$9.83B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Mexico and India. Green line shows exports from Mexico, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Mexico-India commercial relationship and competitive positioning in global markets.
Mexico → India Exports
Export Market Intelligence
🎯 Strategic Export Focus
Mexico's export portfolio to India demonstrates strong diversification across multiple sectors, with oils: petroleum oils and oils obtained from bituminous minerals, crude representing a key competitive advantage in this bilateral market.
India → Mexico Imports
Import Dependency Profile
📦 Import Strategy Analysis
Mexico's import pattern from India reveals strategic sourcingin vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Mexico demonstrates competitive strength in exportingoils: petroleum oils and oils obtained from bituminous minerals, crude to India, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $9.83B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Mexico-India Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $9.83 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Mexico maintains a deficit of $1.72 billion
- Export Focus: Mexico's primary exports include oils: petroleum oils and oils obtained from bituminous minerals, crude, communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus, electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits
- Import Dependencies: Key imports from India include vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc, vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, aluminium: unwrought, (not alloyed)
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents an important regional trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $9.83B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with Mexico leveraging its comparative advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
Mexico's specialization in oils: petroleum oils and oils obtained from bituminous minerals, crudecomplements India's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $9.83B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $9.83B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $9.83 billion bilateral trade volume represents a important trade relationshipfor both economies.
Industrial Integration
Trade flows in oils: petroleum oils and oils obtained from bituminous minerals, crude and vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Mexico's trade deficit of $1.72 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between Mexico and India represents a total trade volume of $9.83 billion in 2023. This partnership demonstrates an unfavorable trade balance for Mexico, with imports exceeding exportsby $1.72 billion.
Export Strengths
Mexico's exports to India total $4.05 billion, with competitive advantages in oils: petroleum oils and oils obtained from bituminous minerals, crude, representing $2.04B or50.5% of bilateral exports.
Import Dependencies
Imports from India amount to $5.77 billion, highlighting economic interdependence in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc, with Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1000 but not over 1500cc comprising6.7% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Mexico's strategic sourcing from India. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between Mexico and India in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023