South Korea
Country
Jan-Jun 2024: US$677M, Foreign Direct Investment
2024-Q2: US$63.2k, Remittances received from South Korea
About South Korea
#permalink to sectionThe main sale from Mexico to South Korea in 2023 was Piston Engines, Rotary Engines or Reciprocating Engines (US$765M). The main origins of sales to South Korea were Ciudad de México (US$1.99B), Sonora (US$336M), and Puebla (US$196M).
The main product bought by Mexico from South Korea in 2023 was Parts and Accessories of Machines (US$1.8B). The main destinations of purchases made to South Korea were Nuevo León (US$4.29B), Chihuahua (US$3.58B), and Baja California (US$2.33B).
In the period January to June 2024, the Foreign Direct Investment (FDI) from South Korea to Mexico is US$677M. In the same period, the states that received the highest FDI from South Korea were Nuevo León (US$436M), Ciudad de México (US$72M), and Baja California (US$54.5M).
Regarding remittances, in the second quarter of 2024, Mexico received US$63.2k in remittances from South Korea, while South Korea received US$3.01M in remittances from Mexico.
Finally, in terms of immigration to Mexico, 1,248 inmigrants from South Korea were registered in 2020, 30.9% women and 69.1% men. The states with the highest concentration of inmigrants from South Korea were Nuevo León (363 people), Coahuila de Zaragoza (332 people), and Ciudad de México (239 people).
Commercial Exchange
#permalink to sectionNet International Exchange
#permalink to sectionIn July 2024, the international sales from Mexico to South Korea were US$279M, while international purchases reached US$2.28B. The above results in a trade balance of -US$2B.
Annual International Trade
#permalink to sectionThe main sale from Mexico to South Korea in 2023 was Piston Engines, Rotary Engines or Reciprocating Engines (US$765M). The main origins of sales to South Korea were Ciudad de México (US$1.99B), Sonora (US$336M), and Puebla (US$196M).
The main product bought by Mexico from South Korea in 2023 was Parts and Accessories of Machines (US$1.8B). The main destinations of purchases made to South Korea were Nuevo León (US$4.29B), Chihuahua (US$3.58B), and Baja California (US$2.33B).
Monthly International Trade
#permalink to sectionThe main sale from Mexico to South Korea in July 2024 was Piston Engines, Rotary Engines or Reciprocating Engines (US$64.7M). The main origins of sales to South Korea were Ciudad de México (US$170M), Baja California (US$12.4M), and Nuevo León (US$10.8M).
The main product bought by Mexico from South Korea in July 2024 was Discs, Tapes and other Media for Sound Recording (US$314M). The main destinations of purchases made to South Korea were Nuevo León (US$593M), Chihuahua (US$475M), and Baja California (US$221M).
Net Trade Balance
#permalink to sectionIn 2023, the states with the highest commercial exchange (international sales minus international purchases) with were Sonora (US$234M), Ciudad de México (US$90.6M), and Aguascalientes (US$25M).
Foreign Direct Investment
#permalink to sectionForeign Direct Investment Flow
#permalink to sectionFrom January 1999 to June 2024, Mexico has received a total of US$11.2B in FDI from South Korea, distributed in inter-company debts (US$4.27B), equity capital (US$4.13B), and reinvestment of earnings (US$2.78B).
Foreign Direct Investment by States
#permalink to sectionFrom January to June 2024, the states that received the highest FDI from South Korea were Nuevo León (US$436M), Ciudad de México (US$72M), and Baja California (US$54.5M).
Historically (from January 1999 to June 2024) the states that have received the most FDI from South Korea are Nuevo León (US$3.13B), Baja California (US$2.13B), and Ciudad de México (US$1.75B).
Remittances
#permalink to sectionEvolution of the Amount of Remittances
#permalink to sectionThe chart compares the evolution of remittances sent from Mexico to South Korea and the remittances that Mexico receives from South Korea.
In the second quarter of 2024, Mexico received US$63.2k in remittances from South Korea, while South Korea received US$3.01M in remittances from Mexico.
Remittancesand Foreign Direct Investment
#permalink to sectionThe visualization compares the evolution of Foreign Direct Investment (FDI) and the income from remittances from South Korea.
During 2021, a total amount of remittances of US$102k is accumulated, while the FDI from South Korea to Mexico accumulated in the year is US$677M.
Migration
#permalink to sectionImmigration from South Korea
#permalink to sectionThe map shows the destination states of migrants from South Korea to Mexico in recent years. The bar chart shows the main causes of migration.
The states with the highest concentration of migrants from South Korea were Nuevo León (363 people), Coahuila de Zaragoza (332 people), and Ciudad de México (239 people).
The main reasons of migration from South Korea to Mexico in recent years were family (422 people) and economical (372 people).
Diversity of immigrants
#permalink to sectionThe graph shows the population pyramid of the migrant population from South Korea to Mexico in recent years.
1,248 inmigrants from South Korea were registered, 30.9% women and 69.1% men.
The age ranges that concentrated the largest migrant population from South Korea were 40 to 44 years (233 people), 25 to 29 years (176 people), and 5 to 9 years (157 people). These concentrated 45.4% of the total migrant population.