ProceduresGovernment

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

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Net Trade Balance

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US$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

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July, 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

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International Sales

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Ciudad 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

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Ciudad 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

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Specialization by State

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The 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.

Origins and Trade Destinations

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  • 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).