GCC-Mexico trade exchange surges by 25%
Published: 04:07 PM,Jul 17,2024 | EDITED : 08:07 PM,Jul 17,2024
Exports from the GCC to Mexico amounted to around $1 billion in 2022.
MUSCAT, JULY 17
Trade exchange between countries of the Gulf Cooperation Council (GCC) and Mexico surged 25 per cent from $3.3 billion in 2021 to reach $4.4 billion in 2022.
According to data published by the Council, trade was weighted in Mexico’s favour, with $3.4 billion worth of goods imported from that country. Key imports included vehicles and vehicle parts valued at $0.9 billion, representing 26.5 per cent of imports, followed by miscellaneous items valued at $0.8 billion (23.6 per cent).
Electrical machinery and equipment, along with machinery and mechanical appliances accounted for 17.6 per cent of total imports and worth $0.6 billion.
Medical, optical, and photographic apparatus represented 11.8 per cent of imports, valued at $0.4 billion, while iron and steel articles represented 2.9 percent valued at $0.1 billion.
Exports from the GCC to Mexico amounted to around $1 billion in 2022, representing a two-fold surge from 2021's figure of $0.5 billion.
In 2022, aluminium and aluminium articles made up around 60 per cent of exports with a value of $0.64 billion. This was followed by plastics valued at $0.09 billion, fertilisers valued at $0.08 billion, and machinery and mechanical appliances valued at $0.06 billion.
Miscellaneous items represented 7 per cent of total imports valued at $0.07 billion, while iron and steel represented 3 per cent valued at $0.03 billion.
In 2019, trade between Oman and Mexico amounted to $44 million, according to data from the Mexican Government. Main imports from Mexico to Oman included transport vehicles, while main exports to Mexico consisted of minerals and chemicals.
Trade exchange between countries of the Gulf Cooperation Council (GCC) and Mexico surged 25 per cent from $3.3 billion in 2021 to reach $4.4 billion in 2022.
According to data published by the Council, trade was weighted in Mexico’s favour, with $3.4 billion worth of goods imported from that country. Key imports included vehicles and vehicle parts valued at $0.9 billion, representing 26.5 per cent of imports, followed by miscellaneous items valued at $0.8 billion (23.6 per cent).
Electrical machinery and equipment, along with machinery and mechanical appliances accounted for 17.6 per cent of total imports and worth $0.6 billion.
Medical, optical, and photographic apparatus represented 11.8 per cent of imports, valued at $0.4 billion, while iron and steel articles represented 2.9 percent valued at $0.1 billion.
Exports from the GCC to Mexico amounted to around $1 billion in 2022, representing a two-fold surge from 2021's figure of $0.5 billion.
In 2022, aluminium and aluminium articles made up around 60 per cent of exports with a value of $0.64 billion. This was followed by plastics valued at $0.09 billion, fertilisers valued at $0.08 billion, and machinery and mechanical appliances valued at $0.06 billion.
Miscellaneous items represented 7 per cent of total imports valued at $0.07 billion, while iron and steel represented 3 per cent valued at $0.03 billion.
In 2019, trade between Oman and Mexico amounted to $44 million, according to data from the Mexican Government. Main imports from Mexico to Oman included transport vehicles, while main exports to Mexico consisted of minerals and chemicals.