Rep. of Korea-Mexico Bilateral Trade Analysis 2023
Complete trade statistics: $17.93B total volume •Rep. of Korea surplus: $15.04B
Rep. of Korea → Mexico
$16.48B
Exports (2023)
Mexico → Rep. of Korea
$1.45B
Imports (2023)
Trade Balance
$15.04B
Surplus for Rep. of Korea
Total Trade
$17.93B
Combined Volume
Trade Flow Visualization
Direct trade relationship between Rep. of Korea and Mexico. Green line shows exports from Rep. of Korea, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Rep. of Korea-Mexico commercial relationship and competitive positioning in global markets.
Rep. of Korea → Mexico Exports
Export Market Intelligence
🎯 Strategic Export Focus
Rep. of Korea's export portfolio to Mexico demonstrates strong diversification across multiple sectors, with machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 representing a key competitive advantage in this bilateral market.
Mexico → Rep. of Korea Imports
Import Dependency Profile
📦 Import Strategy Analysis
Rep. of Korea's import pattern from Mexico reveals significant dependencyin vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
Rep. of Korea demonstrates competitive strength in exportingmachinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 to Mexico, 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: Rep. of Korea-Mexico Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $17.93 billionrepresenting a significant bilateral economic relationship
- Trade Balance: Rep. of Korea maintains a surplus of $15.04 billion
- Export Focus: Rep. of Korea's primary exports 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
- Import Dependencies: Key imports from Mexico 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
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 Rep. of Korea leveraging its comparative advantages in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471.
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
Rep. of Korea's specialization in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471complements Mexico'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 1500 but not over 3000cc.
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 machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471 and vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
Rep. of Korea's trade surplus of $15.04 billion strengthens 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 Rep. of Korea and Mexico represents a total trade volume of $17.93 billion in 2023. This partnership demonstrates a favorable trade balance for Rep. of Korea, with exports exceeding importsby $15.04 billion.
Export Strengths
Rep. of Korea's exports to Mexico total $16.48 billion, with competitive advantages in machinery: parts and accessories (other than covers, carrying cases and the like) of the machines of heading no. 8471, representing $1.80B or10.9% of bilateral exports.
Import Dependencies
Imports from Mexico amount to $1.45 billion, highlighting economic interdependence in vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc, with Vehicles: with only spark-ignition internal combustion reciprocating piston engine, cylinder capacity over 1500 but not over 3000cc comprising19.8% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade surplus indicates Rep. of Korea's competitive position in this bilateral relationship. 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 Rep. of Korea and Mexico in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023