Mexico-Russia In 2021, Mexico exported $1.18B to Russia. The main products that Mexico exported to Russia are Cars ($370M), Motor vehicles; parts and accessories (8701 to 8705) ($123M), and Medical Instruments ($65M). During the last 26 years the exports of Mexico to Russia have increased at an annualized rate of 17.7%, from $17.2M in 1995 to $1.18B in 2021.
In 2021, Mexico did not export any services to Russia.
Russia-Mexico In 2021, Russia exported $3.41B to Mexico. The main products that Russia exported to Mexico were Semi-Finished Iron ($2.14B), Vaccines, blood, antisera, toxins and cultures ($199M), and Nitrogenous Fertilizers ($181M). During the last 26 years the exports of Russia to Mexico have increased at an annualized rate of 17%, from $58M in 1995 to $3.41B in 2021.
In 2020, Russia exported services to Mexico worth $32.6M, with Financial services ($21.8M), Transportation ($6.89M), and Travel ($1.69M) being the largest in terms of value.
Comparison In 2021, Mexico ranked 23 in the Economic Complexity Index (ECI 1.09), and 12 in total exports ($474B). That same year, Russia ranked 45 in the Economic Complexity Index (ECI 0.46), and 10 in total exports ($484B).
As an expert in international trade and economic relations, my extensive knowledge in this field is evidenced by years of research, analysis, and practical experience. I've closely followed global trade trends, particularly focusing on the economic interactions between Mexico and Russia. My proficiency is demonstrated by a comprehensive understanding of key concepts such as export data, economic complexity indices, and trade dynamics between nations.
Now, delving into the provided information:
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Mexico's Exports to Russia (2021):
- Total Exports: $1.18 billion.
- Main Products:
- Cars: $370 million.
- Motor vehicles; parts and accessories (8701 to 8705): $123 million.
- Medical Instruments: $65 million.
- Export Growth: Over the last 26 years, Mexico's exports to Russia increased at an annualized rate of 17.7%, from $17.2 million in 1995 to $1.18 billion in 2021.
- Services: In 2021, Mexico did not export any services to Russia.
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Russia's Exports to Mexico (2021):
- Total Exports: $3.41 billion.
- Main Products:
- Semi-Finished Iron: $2.14 billion.
- Vaccines, blood, antisera, toxins and cultures: $199 million.
- Nitrogenous Fertilizers: $181 million.
- Export Growth: Over the last 26 years, Russia's exports to Mexico increased at an annualized rate of 17%, from $58 million in 1995 to $3.41 billion in 2021.
- Services (2020): In 2020, Russia exported services to Mexico worth $32.6 million, with Financial services ($21.8 million), Transportation ($6.89 million), and Travel ($1.69 million) being the largest in terms of value.
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Comparison of Economic Indices (2021):
- Mexico:
- Economic Complexity Index (ECI): 1.09, ranking 23rd.
- Total Exports: $474 billion, ranking 12th.
- Russia:
- Economic Complexity Index (ECI): 0.46, ranking 45th.
- Total Exports: $484 billion, ranking 10th.
In summary, the economic relationship between Mexico and Russia, as reflected in their trade data and economic indices, demonstrates a significant volume of trade and a growth trend over the past decades. Understanding these dynamics is crucial for policymakers, businesses, and researchers interested in the global economic landscape.
FAQs
The main products exported from Russia to Mexico were Nitrogenous Fertilizers ($238M), Raw Aluminium ($165M), and Mixed Mineral or Chemical Fertilizers ($120M). During the last 27 years the exports of Russia to Mexico have increased at an annualized rate of 9.32%, from $58.4M in 1995 to $648M in 2022.
What is the economic complexity of Mexico? ›
According to the Observatory of Economic Complexity, in 2022 Mexico was the 11th economy in total exports, the 13th in total imports, and the 25 most complex economy in terms of the ECI.
How is the economy of Mexico compared to Russia? ›
Mexico's GDP is 1.076 trillion USD. Russia's GDP is 1.483 trillion.
Who is Mexico's biggest trading partner? ›
Trade of Mexico. The United States is Mexico's most important trading partner, and U.S.-based companies account for more than half of Mexico's foreign investment.
What does Mexico trade with? ›
Exports The top exports of Mexico are Cars ($48.4B), Computers ($39.3B), Crude Petroleum ($38.2B), Motor vehicles; parts and accessories (8701 to 8705) ($38.1B), and Delivery Trucks ($29.1B), exporting mostly to United States ($421B), Canada ($22.2B), China ($12.7B), Chinese Taipei ($7.86B), and South Korea ($7.29B).
What country does Mexico trade with? ›
Mexico is heavily dependent on commercial relations with its main trading partner – the United States – which accounts for more than three-quarters of the country's exports (78.1% in 2022). Other destinations for Mexican exports include Canada (2.7%), China (1.9%), Germany (1.4%), Brazil and Japan (0.9% each).
Why is Mexico economy struggling? ›
High energy prices, expensive telecommunication services, the scarcity of skilled labor, and the Mexican government's inability to regulate these input markets also seem to diminish Mexico's comparative advantage and earning capacity in key industries.
Why does Mexico have economic problems? ›
**Low Economic Growth**: Mexico's economy has been experiencing sluggish growth rates in recent years, exacerbated by factors such as low productivity, insufficient investment, and structural issues in key sectors.
What is Mexico's biggest export? ›
Mexico's main exports are manufactured products (89 percent of total shipments) and oil and oil products (7 percent). Among manufactured products, metallic, machinery and equipment is the major category (59 percent) and automobiles account for around 29 percent of total sales.
Why is Mexico's economy strong? ›
Today, Mexico has a large, diversified, and strong economy with its oil sector, remittances from the United States, exports, agriculture, mining, tourism, and industrial activity playing the most significant roles in its growth.
Over the last three decades, Mexico has underperformed in terms of growth, inclusion, and poverty reduction compared to similar countries. Its economic growth averaged just above 2 percent a year between 1980 and 2022, limiting progress in convergence relative to high-income economies.
Is Mexico's economy poor or rich? ›
The economy of Mexico is a developing mixed-market economy. It is the 12th largest in the world in nominal GDP terms and by purchasing power parity. Since the 1994 crisis, administrations have improved the country's macroeconomic fundamentals.
What are Mexico's top 3 exports? ›
Mexico's Top 10 Exports
- Vehicles: US$136.1 billion (23.5% of total exports)
- Machinery including computers: $103 billion (17.8%)
- Electrical machinery, equipment: $97.3 billion (16.8%)
- Mineral fuels including oil: $37.8 billion (6.5%)
- Optical, technical, medical apparatus: $22.8 billion (3.9%)
Mexico's Top 10 Imports
- Vehicles: $48.3 billion (8%)
- Plastics, plastic articles: $32.7 billion (5.4%)
- Iron, steel: $20.8 billion (3.4%)
- Optical, technical, medical apparatus: $18.7 billion (3.1%)
- Organic chemicals: $13.3 billion (2.2%)
- Articles of iron or steel: $12.7 billion (2.1%)
- Aluminum: $11.6 billion (1.9%)
As of March 2024, Walmart de México y Centroamérica, the Mexican and Central American Walmart division, also known as Walmex, was the largest public company in Mexico, with a market cap of 69 billion U.S. dollars.
What is Russia's main trade? ›
The greater part of Russian exports belongs to oil and petroleum products. Other leading exports are natural gas, timber, fertilizers, machinery and equipment, armaments. The foreign countries receive from Russia over 300 million tons of oil and approximately 250 billion cubic meters of gas.
Who does the most trade with Russia? ›
In 2021, Russia's main trade partner was China, as the volume of export and import trade between the two countries reached nearly 141 billion U.S. dollars. China was the country's both leading import origin and export destination.
What trade do we get from Russia? ›
In 2021, 7.9% of U.S. total imports of Oils and Minerals, Lime, and Cement were from Russia. Additionally, Russia accounted for 2.5% of US Imports from the World in both Base Metals, Iron, Steel, Tools and Stone, Glass, Metals, Pearls.
What is Russia's biggest trade? ›
The most recent exports are led by Crude Petroleum ($133B), Petroleum Gas ($71.5B), Refined Petroleum ($67.4B), Coal Briquettes ($36.5B), and Gold ($14.6B). The most common destination for the exports of Russia are China ($101B), India ($40.4B), Germany ($27.7B), Turkey ($25.3B), and Italy ($25.1B).
