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Mexico is one of the largest trade and economic partners of Kazakhstan in Latin America.
According to Kazakhstan statistics, bilateral trade turnover for 2023 amounted to $500.4 million (exports - $4 million, imports - $496 million), which is 150% more than for the same period in 2022. In general, it is necessary to note the growth of trade turnover over the past few years: 2019 – 69.6 million US dollars; 2020 – $84.8 million; 2021 – USD 170.2 million; 2022 – $196.4 million.
Exports from Kazakhstan to Mexico in 2023 increased 2.1 times and amounted to $3.9 million.
The main export items from Kazakhstan to Mexico in 2023 are: ferroalloys – 421.3 tons (+4%); foundry ladles and converters – 122.2 tons. In addition, this year Mexico purchased spare parts from Kazakhstan for elevators, graders and lifts - 2.3 tons, acrylic polymers - 18 tons.
Imports to Kazakhstan from Mexico in 2023 increased 2.6 times and amounted to $496.5 million.
In the structure of Kazakhstani imports in January–July 2023, the main share of supplies accounted for lead ores and concentrates (20.1 thousand tons). In addition, 542 electric motors and generators (2.8 times more), 6.7 thousand computers (+7.7), 704 cars (+2.2), 943 telephone and mobile communication devices (+48%). The supply of pumps increased by 3.2 times, to 98.7 tons, centrifuges and liquid filter equipment - by 1.7 times, to 160 tons. In addition, Kazakhstan purchased malt beer - 537.3 tons (6.1 times more) and alcoholic liqueurs - 380.8 tons (+1.9).
Thus, the basis of exports from Kazakhstan to Mexico were metallurgical products, machinery and equipment (ferroalloys, ferrous metal products, replaceable working tools, lifting equipment (ship cranes, cable cranes, mobile lifting trusses, loaders), electrical equipment for ignition or starting of internal combustion engines, valves and similar fittings for pipelines, screws, bolts, nuts and similar products of ferrous metals).
The import structure consists of agricultural products, food products, machinery and equipment, automobiles, lead concentrates, ferrous metal products, medicines, and computer equipment.
In May 2017, a Mexican business delegation, which included representatives of the agricultural, energy and mining and metallurgical sectors, paid a working visit to Kazakhstan. During the visit, meetings were held with the leadership of the ministries of the economic bloc, as well as national companies and holdings “KAZAKH INVEST”, “KazMunayGas”, “Tau-Ken Samruk”, “KazAgro”, “Baiterek” and “KazExportGarant”. A series of meetings took place at the National Chamber of Entrepreneurs “Atameken”. Based on the results of the meetings and negotiations, Mexican businessmen expressed interest in purchasing many types of products under the “Made in Kazakhstan” brand and expressed interest in investing in the mining industry of Kazakhstan. In addition, Mexican entrepreneurs showed interest in promoting agricultural products on the Kazakhstan market.
In order to use the potential in the trade and economic sphere, on September 14, 2018, the first office in the history of bilateral relations of the Honorary Consul of the Republic of Kazakhstan was opened in Guadalajara with a consular district including the territories of the states of Jalisco and Nayarit.
On February 14-16, 2023, meetings of representatives of the National Company “KAZAKH INVEST” JSC with official and business circles of Mexico took place in Mexico City. Mexican companies were presented with modern investment opportunities in Kazakhstan.