Formic Acid
Código 291511 (Harmonized System 2012 by 6 digits)
2023: US$5.48M, Total Trade Exchange
2023: US$7.77k, International Sales
2023: US$5.47M, International Purchases
In 2023, the trade exchange (includes international purchases and sales) of Formic Acid was US$5.48M.
In 2022, the states with the most international sales in Formic Acid were Ciudad de México (US$21.4k).
The states with the most international purchases in 2023 were Ciudad de México (US$3.21M), Guanajuato (US$1.48M), Estado de México (US$117k), and Nuevo León (US$88.3k).
In 2022, the main commercial destinations of Formic Acid were Costa Rica (US$20.6k), United States (US$798), and Colombia (US$0).
The main commercial origins of Formic Acid in 2023 were United States (US$2.5M), China (US$1.55M), Finland (US$573k), Germany (US$270k), and Czech Republic (US$1.52k).
In the global context, the main exporting countries of Formic Acid in 2022 were China (US$230M), Germany (US$105M), and Finland (US$38.8M). In the same year, the main importing countries of Formic Acid were Netherlands (US$51.8M), Brazil (US$33.8M), and Italy (US$30.3M).
Trade Balance of Mexico
#permalink to sectionNet Trade Balance
#permalink to sectionUS$5.48M, Total Trade Exchange (2023)
In 2023, the total trade exchange of Formic Acid in Mexico (including international purchases and sales) was US$5.48M.
The visualizations show the net balance of Formic Acid at the level of states and countries. Colors more similar to blue, indicate that the territory presented a higher level of international sales. Colors more similar to red, indicate that the territory presented a higher level of international purchases.
Net International Trade
#permalink to sectionJuly, 2024: US$327k, International Purchases
In July 2024, international sales of Formic Acid were US$0, while international purchases reached US$327k. The above results in a trade balance of -US$327k.
Exchange by Territory
#permalink to sectionInternational Sales
#permalink to sectionCiudad de México: US$21.4k, State with the Most International Sales (2022)
Costa Rica: US$20.6k, Main commercial destination (2022)
In 2022, the states with the highest international sales in Formic Acid were Ciudad de México (US$21.4k).
In 2022, the countries with the most international purchases from Mexico were Costa Rica (US$20.6k), United States (US$798), and Colombia (US$0).
International Purchases
#permalink to sectionCiudad de México: US$3.21M, State with the Most International Purchases (2023)
United States: US$2.5M, Main Commercial Origin (2023)
In 2023, the states with the highest international in Formic Acid were Ciudad de México (US$3.21M), Guanajuato (US$1.48M), Estado de México (US$117k), and Nuevo León (US$88.3k).
The countries with the most international sales to Mexico in 2023 were United States (US$2.5M), China (US$1.55M), Finland (US$573k), Germany (US$270k), and Czech Republic (US$1.52k).
Specialization
#permalink to sectionSpecialization by State
#permalink to sectionThe RCA-Complexity diagram compares the Revelead Comparative Advantages of states in Formic Acid and the Economic Complexity Index of each state.
RCA values greater than 1 indicate that the state has comparative advantages in Formic Acid. On the other hand, high levels of complexity (ECI) are associated with higher levels of income, potential for economic growth, lower income inequality and lower emissions.
Global Market
#permalink to sectionOrigins and Trade Destinations
#permalink to section- 0.0081%, Mexican share in global exports - 2022
- 1.23%, Mexican share in global imports - 2022
The visualizations show the global market for Formic Acid. In both charts, Mexico stands out in order to identify its participation in the export and import market.
In 2022, the main exporting countries of Formic Acid were China (US$230M), Germany (US$105M), and Finland (US$38.8M). In the same year, the main importing countries for Formic Acid were Netherlands (US$51.8M), Brazil (US$33.8M), and Italy (US$30.3M).