Mexico-Rep. of Korea Bilateral Trade Analysis 2023
Complete trade statistics: $17.93B total volume •Mexico deficit: $15.04B
Mexico → Rep. of Korea
$1.45B
Exports (2023)
Rep. of Korea → Mexico
$16.48B
Imports (2023)
Trade Balance
$15.04B
Deficit for Mexico
Total Trade
$17.93B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Mexico and Rep. of Korea. 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-Rep. of Korea commercial relationship and competitive positioning in global markets.
Mexico → Rep. of Korea Exports
Export Market Intelligence
🎯 Strategic Export Focus
Mexico's export portfolio to Rep. of Korea demonstrates strong diversification across multiple sectors, with vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc representing a key competitive advantage in this bilateral market.
Rep. of Korea → Mexico Imports
Import Dependency Profile
📦 Import Strategy Analysis
Mexico's import pattern from Rep. of Korea reveals significant dependencyin machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Mexico demonstrates competitive strength in exportingvehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc to Rep. of Korea, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.
Growth Potential
The $17.93B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: Mexico-Rep. of Korea Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $17.93 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Mexico maintains a deficit of $15.04 billion
- Export Focus: Mexico's primary exports include vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, vehicle parts: gear boxes and parts thereof, zinc ores and concentrates
- Import Dependencies: Key imports from Rep. of Korea include machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471, electronic integrated circuits: processors and controllers, whether or not combined with memories, converters, logic circuits, amplifiers, clock and timing circuits, or other circuits, semiconductor media: solid-state non-volatile storage devices, whether or not recorded, excluding products of chapter 37
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global 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 $17.93B 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 vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc.
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 vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cccomplements Rep. of Korea's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471.
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $17.93B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $17.93B 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 $17.93 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc and machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Mexico's trade deficit of $15.04 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 Rep. of Korea represents a total trade volume of $17.93 billion in 2023. This partnership demonstrates an unfavorable trade balance for Mexico, with imports exceeding exportsby $15.04 billion.
Export Strengths
Mexico's exports to Rep. of Korea total $1.45 billion, with competitive advantages in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, representing $286.42M or19.8% of bilateral exports.
Import Dependencies
Imports from Rep. of Korea amount to $16.48 billion, highlighting economic interdependence in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471, with Machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 comprising10.9% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Mexico's strategic sourcing from Rep. of Korea. 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 Rep. of Korea in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023