# Examining the Bilateral Relationship between Mexico and South Korea through the Trade in Value-Added Perspective, 2000–2021

^{1}

^{2}

^{*}

## Abstract

**:**

## 1. Introduction

## 2. Background

## 3. Methodology

_{s}and X

_{r}represent n × 1 gross production vectors, and X

_{t}is an (nN − n2) × 1 vector. The subscript “t” indicates the rest of the countries, excluding “s” and “r”. A

_{ss}, A

_{sr}, A

_{rs}, and A

_{rr}are submatrices of the Leontief coefficient matrix (A), each with an order of nxn. A

_{st}and A

_{rt}, on the other hand, have an order of n × (nN − n2), while A

_{ts}and A

_{tr}have an order of (nN − n2) × n, and A

_{tt}has an order of (nN − n2) × (nN − n2). Y

_{ss}, Y

_{sr}, Y

_{st,}Y

_{rs}, Y

_{rr}, and Y

_{rt}represent n × 1 final demand vectors (Y), whereas Y

_{ts}, Y

_{tr}, and Y

_{tt}are vectors with an order of (nN − n2) × 1. Solving the model using Equation (1) for X

_{N}yields:

_{ss}, B

_{sr,}B

_{rs}, and B

_{rr}are submatrices of the global Leontief inverse matrix (B), each with an order of nxn. B

_{st}and B

_{rt}have an order of n × (nN − n2), while B

_{ts}and B

_{tr}have an order of (nN − n2) × n, and

_{Btt}has an order of (nN − n2) × (nN − n2). Y

_{s}and Y

_{r}represent n × 1 vectors of final demand, while Y

_{t}is of order (nN − n2) × 1. ‘I’ denotes an identity matrix of the necessary order to perform the specified operation. The global Leontief inverse matrix identifies the total gross output each country generates to produce one unit of exports from any given country.

_{s}is an nx1 vector representing the value-added shares of country ‘s’, E

_{sr}is an nx1 vector containing gross exports from country ‘s’ to country ‘r’, and V

_{t}is an nx1 vector with the value-added shares of countries ‘t’, including ‘r’. The first term of Equation (3) symbolizes the domestic content of gross exports from country ‘s’ to ‘r’, while the second term signifies the foreign content.

_{s}of the matrix B

_{s}equals the local Leontief matrix of the country ‘s’ [3]. Utilizing the local Leontief matrix enables the calculation of domestic value-added contained in exports by solely considering domestic stages of production and isolating any domestic content that may be present in imported inputs. Taking Equation (5) into consideration, Equation (3) can be further disaggregated as follows:

**T11**can be broken down based on the countries of origin of foreign value-added.

## 4. Literature Review

## 5. Results

## 6. Final Thoughts

## Author Contributions

## Funding

## Data Availability Statement

## Conflicts of Interest

## Appendix A

**Table A1.**Decomposition of South Korea’s gross exports to Mexico, according to the origin and final destination of value-added.

Term | Mathematical Expression | Description |
---|---|---|

T1 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{m}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{m}}$ | South Korean Value-added (SKVA) embedded in traditional exports of intermediate and final products from South Korea to Mexico. |

T2 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{k}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle {\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{k}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in South Korea. |

T3 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{m}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in Mexico. |

T4 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{u}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{u}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in the United States. |

T5 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{c}\mathrm{h}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{c}\mathrm{h}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in China. |

T6 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{j}\mathrm{p}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{j}\mathrm{p}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in Japan. |

T7 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{d}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{d}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in Germany. |

T8 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{c}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{c}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in Canada. |

T9 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{t}\ne \mathrm{k},\mathrm{m},\mathrm{u},\mathrm{c}\mathrm{h},\mathrm{j}\mathrm{p},\mathrm{d},\mathrm{c}}^{\mathrm{N}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{t}}+{\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{A}}_{\mathrm{k}\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{r}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{t}\ne \mathrm{k},\mathrm{m},\mathrm{u},\mathrm{c}\mathrm{h},\mathrm{j}\mathrm{p},\mathrm{d},\mathrm{c}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{t}}$ | SKVA embedded in GVC-related exports from South Korea to Mexico, finally consumed in the rest of the world. |

T10 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{E}}_{\mathrm{k}\mathrm{m}}$ | Foreign value-added generated in Mexico embedded in South Korea’s GVC-related exports to Mexico, finally consumed in any country. |

T11 | $\sum _{\mathrm{t}\ne \mathrm{k},\mathrm{m}}^{\mathrm{N}}}{\mathrm{V}}_{\mathrm{t}}{\mathrm{B}}_{\mathrm{t}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{E}}_{\mathrm{k}\mathrm{m}$ | Foreign value-added generated in the rest of the world embedded in South Korea’s GVC-related exports to Mexico, finally consumed in any country. |

T12 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}\sum _{\mathrm{j}\ne \mathrm{k}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{\mathrm{B}}_{\mathrm{j}\mathrm{k}}{\mathrm{E}}_{\mathrm{k}\mathrm{m}}+{\displaystyle \sum _{\mathrm{t}\ne \mathrm{k}}^{\mathrm{N}}}{\mathrm{V}}_{\mathrm{t}}{\mathrm{B}}_{\mathrm{t}\mathrm{k}}^{\overline{)\mathrm{m}}}\sum _{\mathrm{j}\ne \mathrm{k}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{\mathrm{B}}_{\mathrm{j}\mathrm{k}}{\mathrm{E}}_{\mathrm{k}\mathrm{m}}$ | Double counting of South Korean and foreign origin embedded in South Korea’s exports to Mexico, finally consumed in any country. |

**Table A2.**Mexican value-added generated by exports to South Korea, by origin of value-added categories and country of final consumption share. 2000–2021 (millions of dollars and percentages).

Category/Country | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

$ | % | $ | % | $ | % | $ | % | |

Primary Sector | 37.4 | 100.0 | 191.1 | 100.0 | 915.8 | 100.0 | 1965.5 | 100.0 |

South Korea | 24.9 | 66.6 | 96.4 | 50.4 | 395.6 | 43.2 | 825.2 | 42.0 |

Mexico | 0.2 | 0.5 | 1.3 | 0.7 | 5.4 | 0.6 | 13.7 | 0.7 |

United States | 2.9 | 7.8 | 13.8 | 7.2 | 66.1 | 7.2 | 192.8 | 9.8 |

China | 1.5 | 4.0 | 17.8 | 9.3 | 101.4 | 11.1 | 267.5 | 13.6 |

Japan | 2.2 | 5.9 | 7.9 | 4.1 | 49.2 | 5.4 | 91.6 | 4.7 |

Germany | 0.3 | 0.9 | 2.2 | 1.1 | 8.5 | 0.9 | 23.3 | 1.2 |

Canada | 0.2 | 0.6 | 1.3 | 0.7 | 5.8 | 0.6 | 15.3 | 0.8 |

Rest of the World | 5.1 | 13.7 | 50.4 | 26.4 | 283.8 | 31.0 | 536.2 | 27.3 |

Manufactures based on natural resources | 73.1 | 100.0 | 207.3 | 100.0 | 331.2 | 100.0 | 456.1 | 100.0 |

South Korea | 46.3 | 63.4 | 120.6 | 58.2 | 195.2 | 58.9 | 278.2 | 61.0 |

Mexico | 0.5 | 0.6 | 1.5 | 0.7 | 2.0 | 0.6 | 3.0 | 0.7 |

United States | 7.2 | 9.8 | 12.2 | 5.9 | 19.7 | 5.9 | 34.4 | 7.5 |

China | 2.6 | 3.6 | 14.7 | 7.1 | 27.4 | 8.3 | 41.2 | 9.0 |

Japan | 3.3 | 4.5 | 6.0 | 2.9 | 8.6 | 2.6 | 10.1 | 2.2 |

Germany | 0.9 | 1.3 | 2.7 | 1.3 | 2.8 | 0.8 | 4.8 | 1.1 |

Canada | 0.6 | 0.8 | 1.5 | 0.7 | 2.3 | 0.7 | 3.5 | 0.8 |

Rest of the World | 11.7 | 16.0 | 48.1 | 23.2 | 73.3 | 22.1 | 80.9 | 17.7 |

Manufactures based on technology | 30.9 | 100.0 | 80.3 | 100.0 | 150.5 | 100.0 | 476.3 | 100.0 |

South Korea | 24.1 | 78.0 | 54.9 | 68.4 | 97.1 | 64.5 | 327.3 | 68.7 |

Mexico | 0.1 | 0.3 | 0.5 | 0.6 | 0.8 | 0.5 | 2.6 | 0.5 |

United States | 2.1 | 6.6 | 3.9 | 4.8 | 8.1 | 5.4 | 34.3 | 7.2 |

China | 0.4 | 1.2 | 5.0 | 6.2 | 11.6 | 7.7 | 32.3 | 6.8 |

Japan | 0.6 | 1.8 | 1.3 | 1.6 | 2.4 | 1.6 | 5.5 | 1.2 |

Germany | 0.3 | 1.0 | 0.9 | 1.2 | 1.1 | 0.8 | 4.9 | 1.0 |

Canada | 0.2 | 0.5 | 0.4 | 0.6 | 1.0 | 0.6 | 4.3 | 0.9 |

Rest of the World | 3.2 | 10.5 | 13.3 | 16.6 | 28.4 | 18.9 | 65.2 | 13.7 |

Other activities | 111.8 | 100.0 | 208.9 | 100.0 | 491.6 | 100.0 | 1197.3 | 100.0 |

South Korea | 74.4 | 66.5 | 125.2 | 59.9 | 286.8 | 58.4 | 658.3 | 55.0 |

Mexico | 0.7 | 0.6 | 1.4 | 0.7 | 2.7 | 0.5 | 7.5 | 0.6 |

United States | 10.2 | 9.1 | 11.8 | 5.7 | 28.9 | 5.9 | 99.4 | 8.3 |

China | 3.4 | 3.0 | 14.5 | 6.9 | 40.7 | 8.3 | 122.5 | 10.2 |

Japan | 4.4 | 3.9 | 5.8 | 2.8 | 14.1 | 2.9 | 36.0 | 3.0 |

Germany | 1.4 | 1.3 | 2.6 | 1.2 | 3.9 | 0.8 | 13.0 | 1.1 |

Canada | 0.8 | 0.7 | 1.4 | 0.7 | 3.0 | 0.6 | 9.3 | 0.8 |

Rest of the World | 16.6 | 14.8 | 46.2 | 22.1 | 111.3 | 22.7 | 251.3 | 21.0 |

Total | 253.2 | 100.0 | 687.5 | 100.0 | 1889.0 | 100.0 | 4095.3 | 100.0 |

South Korea | 169.7 | 67.0 | 397.0 | 57.8 | 974.7 | 51.6 | 2089.0 | 51.0 |

Mexico | 1.4 | 0.6 | 4.7 | 0.7 | 10.8 | 0.6 | 26.8 | 0.7 |

United States | 22.3 | 8.8 | 41.7 | 6.1 | 122.8 | 6.5 | 360.9 | 8.8 |

China | 7.9 | 3.1 | 52.0 | 7.6 | 181.2 | 9.6 | 463.4 | 11.3 |

Japan | 10.4 | 4.1 | 21.0 | 3.1 | 74.3 | 3.9 | 143.2 | 3.5 |

Germany | 3.0 | 1.2 | 8.4 | 1.2 | 16.4 | 0.9 | 45.9 | 1.1 |

Canada | 1.8 | 0.7 | 4.7 | 0.7 | 12.0 | 0.6 | 32.4 | 0.8 |

Rest of the World | 36.6 | 14.5 | 158.0 | 23.0 | 496.8 | 26.3 | 933.6 | 22.8 |

**Table A3.**South Korean value-added generated by exports to Mexico, by origin of value-added categories and country of final consumption. 2000–2021 (millions of dollars and percentages).

Category/Country | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

$ | % | $ | % | $ | % | $ | % | |

Primary Sector | 36.2 | 100.0 | 60.0 | 100.0 | 74.8 | 100.0 | 65.4 | 100.0 |

Mexico | 21.8 | 60.4 | 35.0 | 58.4 | 43.3 | 57.8 | 36.1 | 55.2 |

South Korea | 0.0 | 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | 0.2 | 0.4 |

United States | 12.2 | 33.8 | 18.3 | 30.5 | 22.7 | 30.3 | 20.5 | 31.4 |

China | 0.1 | 0.2 | 0.4 | 0.7 | 0.7 | 1.0 | 1.2 | 1.8 |

Japan | 0.2 | 0.4 | 0.3 | 0.5 | 0.4 | 0.5 | 0.4 | 0.6 |

Germany | 0.1 | 0.4 | 0.5 | 0.8 | 0.5 | 0.6 | 0.6 | 1.0 |

Canada | 0.5 | 1.4 | 1.8 | 2.9 | 2.0 | 2.7 | 1.7 | 2.6 |

Rest of the World | 1.2 | 3.4 | 3.6 | 6.1 | 5.1 | 6.9 | 4.6 | 7.0 |

Manufactures based on natural resources | 984.0 | 100.0 | 1755.5 | 100.0 | 2171.6 | 100.0 | 3,078.6 | 100.0 |

Mexico | 593.5 | 60.3 | 992.5 | 56.5 | 1160.8 | 53.5 | 1566.3 | 50.9 |

South Korea | 1.0 | 0.1 | 3.0 | 0.2 | 4.7 | 0.2 | 13.0 | 0.4 |

United States | 328.6 | 33.4 | 555.2 | 31.6 | 720.7 | 33.2 | 1057.1 | 34.3 |

China | 1.7 | 0.2 | 13.1 | 0.7 | 24.2 | 1.1 | 61.4 | 2.0 |

Japan | 4.5 | 0.5 | 8.7 | 0.5 | 11.9 | 0.5 | 20.6 | 0.7 |

Germany | 4.1 | 0.4 | 15.1 | 0.9 | 15.6 | 0.7 | 34.2 | 1.1 |

Canada | 14.4 | 1.5 | 51.8 | 3.0 | 64.1 | 2.9 | 87.4 | 2.8 |

Rest of the World | 36.3 | 3.7 | 115.9 | 6.6 | 169.7 | 7.8 | 238.6 | 7.8 |

Manufactures based on technology | 992.5 | 100.0 | 3603.0 | 100.0 | 3578.3 | 100.0 | 5470.0 | 100.0 |

Mexico | 541.0 | 54.5 | 1813.0 | 50.3 | 1769.4 | 49.4 | 2418.3 | 44.2 |

South Korea | 1.4 | 0.1 | 6.0 | 0.2 | 6.8 | 0.2 | 24.7 | 0.5 |

United States | 373.6 | 37.6 | 1331.2 | 36.9 | 1317.9 | 36.8 | 2164.1 | 39.6 |

China | 2.9 | 0.3 | 29.7 | 0.8 | 38.8 | 1.1 | 136.4 | 2.5 |

Japan | 5.3 | 0.5 | 18.9 | 0.5 | 19.9 | 0.6 | 45.9 | 0.8 |

Germany | 4.8 | 0.5 | 29.6 | 0.8 | 26.9 | 0.8 | 70.7 | 1.3 |

Canada | 20.8 | 2.1 | 132.1 | 3.7 | 126.8 | 3.5 | 189.4 | 3.5 |

Rest of the World | 42.8 | 4.3 | 242.4 | 6.7 | 271.8 | 7.6 | 420.6 | 7.7 |

Other activities | 1028.8 | 100.0 | 2427.1 | 100.0 | 3528.0 | 100.0 | 3392.7 | 100.0 |

Mexico | 636.3 | 61.9 | 1310.2 | 54.0 | 2026.0 | 57.4 | 1812.9 | 53.4 |

South Korea | 1.1 | 0.1 | 4.0 | 0.2 | 6.3 | 0.2 | 12.7 | 0.4 |

United States | 326.4 | 31.7 | 825.3 | 34.0 | 1082.7 | 30.7 | 1109.5 | 32.7 |

China | 2.2 | 0.2 | 18.8 | 0.8 | 34.0 | 1.0 | 64.2 | 1.9 |

Japan | 4.6 | 0.5 | 12.2 | 0.5 | 17.5 | 0.5 | 22.5 | 0.7 |

Germany | 4.1 | 0.4 | 19.4 | 0.8 | 22.1 | 0.6 | 35.3 | 1.0 |

Canada | 16.2 | 1.6 | 80.2 | 3.3 | 99.7 | 2.8 | 93.9 | 2.8 |

Rest of the World | 37.8 | 3.7 | 157.1 | 6.5 | 239.6 | 6.8 | 241.7 | 7.1 |

Total | 3041.5 | 100.0 | 7845.5 | 100.0 | 9352.6 | 100.0 | 12,006.7 | 100.0 |

Mexico | 1792.6 | 58.9 | 4150.7 | 52.9 | 4999.5 | 53.5 | 5833.6 | 48.6 |

South Korea | 3.5 | 0.1 | 13.1 | 0.2 | 17.9 | 0.2 | 50.6 | 0.4 |

United States | 1040.8 | 34.2 | 2730.0 | 34.8 | 3144.0 | 33.6 | 4351.2 | 36.2 |

China | 6.9 | 0.2 | 62.1 | 0.8 | 97.7 | 1.0 | 263.1 | 2.2 |

Japan | 14.5 | 0.5 | 40.1 | 0.5 | 49.7 | 0.5 | 89.4 | 0.7 |

Germany | 13.2 | 0.4 | 64.6 | 0.8 | 65.1 | 0.7 | 140.8 | 1.2 |

Canada | 51.8 | 1.7 | 265.8 | 3.4 | 292.6 | 3.1 | 372.5 | 3.1 |

Rest of the World | 118.1 | 3.9 | 519.1 | 6.6 | 686.2 | 7.3 | 905.5 | 7.5 |

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**Figure 1.**Mexico and South Korea trade balance by trading partner. 2007–2021 (millions of dollars). Source: own elaboration with data from ADB (2023).

**Figure 2.**Decomposition of bilateral gross exports by term of value-added share. 2007–2021 (percentages). Source: own elaboration with data from ADB (2023). Note: DVA_TT: domestic value-added related to traditional trade; DVA_GVC: domestic value-added related to GVC; FVA_GVC: foreign value-added related to GVC; DC: value-added double counted (domestic and foreign).

**Figure 3.**Mexican value-added generated by exports to South Korea by country of final consumption share. 2007–2021 (percentages). Source: own elaboration with data from ADB (2023).

**Figure 4.**South Korean value-added generated by exports to Mexico by country of final consumption share. 2007–2021 (percentages). Source: own elaboration with data from ADB (2023).

**Table 1.**Gross exports of Mexico and South Korea by exporting category and trading partner share. 2000–2021 (percentages).

Country | Partner | Category | 2000 | 2007–2010 | 2011–2016 | 2017–2021 |
---|---|---|---|---|---|---|

MEX | KOR | Primary sector | 0.1 | 0.3 | 1.6 | 4.5 |

Manufactures based on natural resources | 0.4 | 0.6 | 0.8 | 0.8 | ||

Manufactures based on technology | 0.1 | 0.2 | 0.3 | 0.7 | ||

Other activities | 0.4 | 0.5 | 0.9 | 0.7 | ||

Total | 0.2 | 0.4 | 0.7 | 1.2 | ||

USA | Primary sector | 54.5 | 74.0 | 65.9 | 56.8 | |

Manufactures based on natural resources | 79.8 | 71.2 | 68.8 | 72.5 | ||

Manufactures based on technology | 86.4 | 77.1 | 78.1 | 77.0 | ||

Other activities | 74.0 | 64.4 | 66.0 | 36.5 | ||

Total | 80.0 | 74.4 | 73.0 | 70.8 | ||

CHN | Primary sector | 0.0 | 2.0 | 4.5 | 5.7 | |

Manufactures based on natural resources | 0.2 | 0.9 | 1.3 | 1.9 | ||

Manufactures based on technology | 0.3 | 1.4 | 1.5 | 3.3 | ||

Other activities | 0.7 | 1.1 | 1.2 | 2.5 | ||

Total | 0.3 | 1.4 | 1.9 | 3.2 | ||

KOR | MEX | Primary sector | 0.0 | 0.1 | 0.1 | 0.3 |

Manufactures based on natural resources | 2.1 | 1.5 | 1.4 | 1.9 | ||

Manufactures based on technology | 2.4 | 3.5 | 2.5 | 3.4 | ||

Other activities | 1.8 | 1.3 | 2.4 | 1.0 | ||

Total | 2.2 | 2.6 | 2.1 | 2.5 | ||

USA | Primary sector | 6.5 | 10.9 | 9.8 | 12.5 | |

Manufactures based on natural resources | 16.3 | 10.4 | 9.2 | 11.9 | ||

Manufactures based on technology | 27.6 | 11.2 | 12.3 | 15.3 | ||

Other activities | 19.5 | 9.0 | 10.4 | 8.6 | ||

Total | 22.4 | 10.6 | 11.0 | 13.1 | ||

CHN | Primary sector | 3.0 | 9.1 | 8.5 | 10.8 | |

Manufactures based on natural resources | 16.9 | 26.0 | 22.6 | 26.2 | ||

Manufactures based on technology | 6.4 | 23.0 | 26.5 | 32.9 | ||

Other activities | 3.7 | 8.2 | 13.3 | 20.5 | ||

Total | 10.0 | 22.1 | 23.5 | 28.7 |

**Table 2.**Mexican gross exports to South Korea by exporting categories. 2000–2021 (millions of dollars and percentages).

Category and Sector | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

$ | % | $ | % | $ | % | $ | % | |

Primary Sector | 22.5 | 6.7 | 158.3 | 16.2 | 964.8 | 39.5 | 2715.7 | 47.6 |

Agriculture, hunting, forestry, and fishing | 7.5 | 2.2 | 4.7 | 0.5 | 5.9 | 0.2 | 13.3 | 0.2 |

Mining and quarrying | 15.0 | 4.5 | 153.6 | 15.8 | 958.9 | 39.3 | 2,702.4 | 47.4 |

Manufactures based on natural resources | 143.0 | 42.7 | 428.0 | 43.9 | 754.3 | 30.9 | 1007.0 | 17.7 |

Food, beverages, and tobacco | 21.3 | 6.4 | 63.7 | 6.5 | 87.4 | 3.6 | 135.6 | 2.4 |

Coke, refined petroleum, and nuclear fuel | 3.7 | 1.1 | 9.9 | 1.0 | 154.6 | 6.3 | 254.5 | 4.5 |

Chemicals and chemical products | 31.9 | 9.5 | 26.9 | 2.8 | 36.1 | 1.5 | 106.6 | 1.9 |

Basic and fabricated metals | 65.9 | 19.7 | 267.7 | 27.5 | 258.7 | 10.6 | 351.0 | 6.2 |

Other manufactures based on natural resources | 20.1 | 6.0 | 59.8 | 6.1 | 217.5 | 8.9 | 159.2 | 2.8 |

Manufactures based on technology | 92.2 | 27.5 | 312.0 | 32.0 | 544.6 | 22.3 | 1766.1 | 31.0 |

Machinery and equipment | 1.3 | 0.4 | 39.5 | 4.1 | 95.1 | 3.9 | 118.5 | 2.1 |

Electronic, electrical, and optical equipment | 74.8 | 22.3 | 244.3 | 25.1 | 335.1 | 13.7 | 873.9 | 15.3 |

Transport equipment | 16.1 | 4.8 | 28.1 | 2.9 | 114.4 | 4.7 | 773.8 | 13.6 |

Other activities | 77.3 | 23.1 | 76.5 | 7.8 | 176.1 | 7.2 | 210.6 | 3.7 |

Renting of M&Eq and other business activities | 32.5 | 9.7 | 13.8 | 1.4 | 75.9 | 3.1 | 24.7 | 0.4 |

Other | 44.9 | 13.4 | 62.7 | 6.4 | 100.2 | 4.1 | 185.9 | 3.3 |

Total | 335.1 | 100.0 | 974.8 | 100.0 | 2439.8 | 100.0 | 5699.4 | 100.0 |

**Table 3.**South Korean gross exports to Mexico by exporting categories. 2000-2021 (millions of dollars and percentages).

Category and Sector | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

$ | % | $ | % | $ | % | $ | % | |

Primary Sector | 0.1 | 0.0 | 0.7 | 0.0 | 0.7 | 0.0 | 2.4 | 0.0 |

Agriculture, hunting, forestry, and fishing | 0.1 | 0.0 | 0.2 | 0.0 | 0.2 | 0.0 | 0.8 | 0.0 |

Mining and quarrying | 0.0 | 0.0 | 0.5 | 0.0 | 0.5 | 0.0 | 1.7 | 0.0 |

Manufactures based on natural resources | 1477.5 | 34.7 | 2154.4 | 18.2 | 3158.3 | 22.4 | 4447.1 | 26.4 |

Food, beverages, and tobacco | 4.3 | 0.1 | 11.7 | 0.1 | 24.9 | 0.2 | 13.3 | 0.1 |

Coke, refined petroleum, and nuclear fuel | 0.1 | 0.0 | 195.4 | 1.6 | 91.5 | 0.6 | 133.0 | 0.8 |

Chemicals and chemical products | 252.8 | 5.9 | 560.7 | 4.7 | 861.6 | 6.1 | 1717.1 | 10.2 |

Basic and fabricated metals | 411.8 | 9.7 | 987.1 | 8.3 | 1507.9 | 10.7 | 1803.6 | 10.7 |

Other manufactures based on natural resources | 808.5 | 19.0 | 399.4 | 3.4 | 672.5 | 4.8 | 780.1 | 4.6 |

Manufactures based on technology | 2375.3 | 55.8 | 8956.5 | 75.6 | 8941.4 | 63.5 | 11,413.4 | 67.8 |

Machinery and equipment | 151.6 | 3.6 | 525.2 | 4.4 | 820.6 | 5.8 | 2130.6 | 12.7 |

Electronic, electrical, and optical equipment | 2120.6 | 49.8 | 7624.0 | 64.3 | 6360.7 | 45.2 | 7125.4 | 42.3 |

Transport equipment | 103.0 | 2.4 | 807.4 | 6.8 | 1760.1 | 12.5 | 2157.3 | 12.8 |

Other activities | 403.2 | 9.5 | 741.2 | 6.3 | 1970.0 | 14.0 | 972.4 | 5.8 |

Renting of M&Eq and other business activities | 208.5 | 4.9 | 153.1 | 1.3 | 1158.9 | 8.2 | 450.4 | 2.7 |

Other | 194.8 | 4.6 | 588.1 | 5.0 | 811.1 | 5.8 | 522.0 | 3.1 |

Total | 4256.1 | 100.0 | 11,852.8 | 100.0 | 14,070.4 | 100.0 | 16,835.3 | 100.0 |

**Table 4.**Decomposition of Mexico’s gross exports to South Korea, according to the origin and final destination of value-added.

Term | Mathematical Expression | Description |
---|---|---|

T1 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{Y}}_{\mathrm{m}\mathrm{k}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{k}}$ | Mexican Value-added (MVA) embedded in traditional exports of intermediate and final products from Mexico to South Korea. |

T2 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{m}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle {\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}}{\displaystyle {\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{m}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in Mexico. |

T3 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle {\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}}{\displaystyle {\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{k}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in South Korea. |

T4 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{u}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{u}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in the United States. |

T5 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{c}\mathrm{h}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{c}\mathrm{h}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in China. |

T6 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{j}\mathrm{p}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{j}\mathrm{p}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in Japan. |

T7 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{d}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{d}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in Germany. |

T8 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{c}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{k}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{c}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in Canada. |

T9 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{t}\ne \mathrm{m},\mathrm{k},\mathrm{u},\mathrm{c}\mathrm{h},\mathrm{j}\mathrm{p},\mathrm{d},\mathrm{c}}^{\mathrm{N}}}{\mathrm{Y}}_{\mathrm{k}\mathrm{t}}+{\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{k}}^{\overline{)\mathrm{k}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{r}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{g}}^{\mathrm{N}}}{\displaystyle \sum _{\mathrm{t}\ne \mathrm{m},\mathrm{k},\mathrm{u},\mathrm{c}\mathrm{h},\mathrm{j}\mathrm{p},\mathrm{d},\mathrm{c}}^{\mathrm{N}}}{\mathrm{A}}_{\mathrm{k}\mathrm{j}}{{\mathrm{B}}_{\mathrm{j}\mathrm{g}}\mathrm{Y}}_{\mathrm{g}\mathrm{t}}$ | MVA embedded in GVC-related exports from Mexico to South Korea, finally consumed in the rest of the world. |

T10 | ${\mathrm{V}}_{\mathrm{k}}{\mathrm{B}}_{\mathrm{k}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{E}}_{\mathrm{m}\mathrm{k}}$ | Foreign value-added generated in South Korea embedded in Mexico’s GVC-related exports to South Korea, finally consumed in any country. |

T11 | $\sum _{\mathrm{t}\ne \mathrm{m},\mathrm{k}}^{\mathrm{N}}}{\mathrm{V}}_{\mathrm{t}}{\mathrm{B}}_{\mathrm{t}\mathrm{m}}^{\overline{)\mathrm{m}}}{\mathrm{E}}_{\mathrm{m}\mathrm{k}$ | Foreign value-added generated in the rest of the world embedded in Mexico’s GVC-related exports to South Korea, finally consumed in any country. |

T12 | ${\mathrm{V}}_{\mathrm{m}}{\mathrm{B}}_{\mathrm{m}\mathrm{m}}^{\overline{)\mathrm{m}}}{\displaystyle \sum _{\mathrm{j}\ne \mathrm{m}}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{\mathrm{B}}_{\mathrm{j}\mathrm{m}}{\mathrm{E}}_{\mathrm{m}\mathrm{k}}+{\displaystyle \sum _{\mathrm{t}\ne \mathrm{m}}^{\mathrm{N}}}{\mathrm{V}}_{\mathrm{t}}{\mathrm{B}}_{\mathrm{t}\mathrm{m}}^{\overline{)\mathrm{m}}}\sum _{\mathrm{j}\ne \mathrm{m}}{\mathrm{A}}_{\mathrm{m}\mathrm{j}}{\mathrm{B}}_{\mathrm{j}\mathrm{m}}{\mathrm{E}}_{\mathrm{m}\mathrm{k}}$ | Double counting of Mexican and foreign origin embedded in Mexico’s exports to South Korea, finally consumed in any country. |

**Table 5.**Domestic value-added generated by bilateral exports by exporting categories and country of origin share. 2000–2021 (percentages).

Category and Sector | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

MEX | KOR | MEX | KOR | MEX | KOR | MEX | KOR | |

Primary Sector | 50.8 | 49.2 | 76.1 | 23.9 | 92.4 | 7.6 | 96.8 | 3.2 |

Agriculture, hunting, forestry, and fishing | 29.7 | 70.3 | 27.5 | 72.5 | 25.5 | 74.5 | 39.6 | 60.4 |

Mining and quarrying | 71.6 | 28.4 | 89.4 | 10.6 | 98.2 | 1.8 | 99.2 | 0.8 |

Manufactures based on natural resources | 6.9 | 93.1 | 10.6 | 89.4 | 13.2 | 86.8 | 12.9 | 87.1 |

Food, beverages, and tobacco | 56.0 | 44.0 | 56.3 | 43.7 | 53.2 | 46.8 | 62.3 | 37.7 |

Coke, refined petroleum, and nuclear fuel | 4.0 | 96.0 | 3.6 | 96.4 | 24.8 | 75.2 | 49.3 | 50.7 |

Chemicals and chemical products | 6.2 | 93.8 | 4.3 | 95.7 | 6.1 | 93.9 | 7.4 | 92.6 |

Basic and fabricated metals | 9.7 | 90.3 | 13.4 | 86.6 | 11.0 | 89.0 | 10.9 | 89.1 |

Other manufactures based on natural resources | 3.5 | 96.5 | 8.4 | 91.6 | 16.6 | 83.4 | 10.9 | 89.1 |

Manufactures based on technology | 3.0 | 97.0 | 2.2 | 97.8 | 4.0 | 96.0 | 8.0 | 92.0 |

Machinery and equipment | 2.3 | 97.7 | 6.0 | 94.0 | 8.8 | 91.2 | 3.7 | 96.3 |

Electronic, electrical, and optical equipment | 2.6 | 97.4 | 1.7 | 98.3 | 2.7 | 97.3 | 5.2 | 94.8 |

Transport equipment | 10.4 | 89.6 | 2.9 | 97.1 | 6.1 | 93.9 | 24.4 | 75.6 |

Other activities | 9.8 | 90.2 | 7.9 | 92.1 | 12.2 | 87.8 | 26.1 | 73.9 |

Renting of M&Eq and other business activities | 13.5 | 86.5 | 11.9 | 88.1 | 15.9 | 84.1 | 28.1 | 71.9 |

Other | 8.1 | 91.9 | 6.8 | 93.2 | 10.3 | 89.7 | 25.1 | 74.9 |

Total | 7.7 | 92.3 | 8.1 | 91.9 | 16.8 | 83.2 | 25.4 | 74.6 |

**Table 6.**Domestic value-added generated by bilateral exports as a share of total value-added by the origin of value-added categories and exporting country. 2000-2021 (percentages).

Category and Sector | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

MEX | KOR | MEX | KOR | MEX | KOR | MEX | KOR | |

Primary Sector | 0.06 | 0.15 | 0.17 | 0.22 | 0.79 | 0.24 | 2.16 | 0.20 |

Agriculture, hunting, forestry, and fishing | 0.05 | 0.11 | 0.05 | 0.16 | 0.05 | 0.20 | 0.08 | 0.16 |

Mining and quarrying | 0.07 | 0.69 | 0.23 | 1.01 | 1.14 | 0.72 | 3.99 | 0.81 |

Manufactures based on natural resources | 0.08 | 1.12 | 0.15 | 1.10 | 0.23 | 1.06 | 0.35 | 1.25 |

Food, beverages, and tobacco | 0.03 | 0.08 | 0.06 | 0.16 | 0.07 | 0.21 | 0.12 | 0.16 |

Coke, refined petroleum, and nuclear fuel | 0.04 | 0.47 | 0.05 | 0.75 | 0.39 | 0.53 | 0.70 | 0.43 |

Chemicals and chemical products | 0.11 | 1.31 | 0.09 | 1.24 | 0.18 | 1.08 | 0.55 | 1.53 |

Basic and fabricated metals | 0.28 | 1.36 | 0.66 | 1.53 | 0.62 | 1.56 | 0.81 | 2.00 |

Other manufactures based on natural resources | 0.04 | 1.30 | 0.10 | 0.94 | 0.26 | 0.94 | 0.30 | 0.94 |

Manufactures based on technology | 0.07 | 1.36 | 0.16 | 2.43 | 0.23 | 1.79 | 0.60 | 2.21 |

Machinery and equipment | 0.04 | 0.67 | 0.23 | 1.16 | 0.40 | 1.23 | 0.49 | 2.28 |

Electronic, electrical, and optical equipment | 0.12 | 2.10 | 0.30 | 3.76 | 0.39 | 2.37 | 0.78 | 2.46 |

Transport equipment | 0.03 | 0.25 | 0.04 | 0.74 | 0.11 | 1.06 | 0.52 | 1.41 |

Other activities | 0.03 | 0.30 | 0.03 | 0.37 | 0.06 | 0.42 | 0.15 | 0.31 |

Renting of M&Eq and other business activities | 0.04 | 0.91 | 0.04 | 0.69 | 0.11 | 1.13 | 0.23 | 0.62 |

Other | 0.02 | 0.23 | 0.03 | 0.32 | 0.05 | 0.33 | 0.12 | 0.25 |

Total | 0.04 | 0.57 | 0.07 | 0.79 | 0.17 | 0.74 | 0.37 | 0.75 |

**Table 7.**Mexican value-added generated by exports to South Korea, by origin of value-added categories. 2000–2021 (millions of dollars and percentages).

Category and Sector | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

$ | % | $ | % | $ | % | $ | % | |

Primary Sector | 37.4 | 14.8 | 764.2 | 27.8 | 5494.5 | 48.5 | 9827.7 | 48.0 |

Agriculture, hunting, forestry, and fishing | 10.8 | 4.3 | 59.3 | 2.2 | 119.7 | 1.1 | 161.4 | 0.8 |

Mining and quarrying | 26.6 | 10.5 | 704.9 | 25.6 | 5374.9 | 47.4 | 9666.3 | 47.2 |

Manufactures based on natural resources | 73.1 | 28.9 | 829.2 | 30.2 | 1987.3 | 17.5 | 2280.6 | 11.1 |

Food, beverages, and tobacco | 10.4 | 4.1 | 120.8 | 4.4 | 250.4 | 2.2 | 331.5 | 1.6 |

Coke, refined petroleum, and nuclear fuel | 1.3 | 0.5 | 15.2 | 0.6 | 181.6 | 1.6 | 301.1 | 1.5 |

Chemicals and chemical products | 17.2 | 6.8 | 86.0 | 3.1 | 223.9 | 2.0 | 325.5 | 1.6 |

Basic and fabricated metals | 29.7 | 11.7 | 455.5 | 16.6 | 695.6 | 6.1 | 815.5 | 4.0 |

Other manufactures based on natural resources | 14.5 | 5.7 | 151.7 | 5.5 | 635.8 | 5.6 | 506.9 | 2.5 |

Manufactures based on technology | 30.9 | 12.2 | 321.1 | 11.7 | 902.8 | 8.0 | 2381.6 | 11.6 |

Machinery and equipment | 1.9 | 0.8 | 70.1 | 2.5 | 234.1 | 2.1 | 203.0 | 1.0 |

Electronic, electrical, and optical equipment | 23.2 | 9.2 | 210.4 | 7.7 | 422.0 | 3.7 | 1008.4 | 4.9 |

Transport equipment | 5.8 | 2.3 | 40.6 | 1.5 | 246.7 | 2.2 | 1170.1 | 5.7 |

Other activities | 111.8 | 44.2 | 835.4 | 30.4 | 2949.3 | 26.0 | 5986.5 | 29.2 |

Renting of M&Eq and other business activities | 49.3 | 19.5 | 286.4 | 10.4 | 1299.5 | 11.5 | 2125.4 | 10.4 |

Other | 62.5 | 24.7 | 549.0 | 20.0 | 1649.8 | 14.6 | 3861.1 | 18.9 |

Total | 253.2 | 100.0 | 2750.0 | 100.0 | 11,333.9 | 100.0 | 20,476.5 | 100.0 |

**Table 8.**South Korean value-added generated by exports to Mexico, by origin of value-added categories. 2000–2021 (millions of dollars and percentages).

Category and Sector | 2000 | 2007–2010 | 2011–2016 | 2017–2021 | ||||
---|---|---|---|---|---|---|---|---|

$ | % | $ | % | $ | % | $ | % | |

Primary Sector | 36.2 | 1.2 | 239.8 | 0.8 | 448.9 | 0.8 | 326.8 | 0.5 |

Agriculture, hunting, forestry, and fishing | 25.6 | 0.8 | 156.3 | 0.5 | 349.1 | 0.6 | 246.7 | 0.4 |

Mining and quarrying | 10.6 | 0.3 | 83.5 | 0.3 | 99.9 | 0.2 | 80.1 | 0.1 |

Manufactures based on natural resources | 984.0 | 32.4 | 7021.8 | 22.4 | 13,029.4 | 23.2 | 15,393.0 | 25.6 |

Food, beverages, and tobacco | 8.2 | 0.3 | 93.8 | 0.3 | 220.6 | 0.4 | 201.0 | 0.3 |

Coke, refined petroleum, and nuclear fuel | 30.0 | 1.0 | 412.6 | 1.3 | 550.8 | 1.0 | 310.3 | 0.5 |

Chemicals and chemical products | 261.0 | 8.6 | 1908.3 | 6.1 | 3418.0 | 6.1 | 4079.8 | 6.8 |

Basic and fabricated metals | 278.1 | 9.1 | 2942.8 | 9.4 | 5656.1 | 10.1 | 6652.1 | 11.1 |

Other manufactures based on natural resources | 406.7 | 13.4 | 1664.3 | 5.3 | 3183.9 | 5.7 | 4149.9 | 6.9 |

Manufactures based on technology | 992.5 | 32.6 | 14,412.1 | 45.9 | 21,469.7 | 38.3 | 27,350.2 | 45.6 |

Machinery and equipment | 82.6 | 2.7 | 1096.4 | 3.5 | 2413.5 | 4.3 | 5255.1 | 8.8 |

Electronic, electrical, and optical equipment | 860.2 | 28.3 | 11,969.0 | 38.1 | 15,267.7 | 27.2 | 18,470.5 | 30.8 |

Transport equipment | 49.7 | 1.6 | 1346.7 | 4.3 | 3788.6 | 6.8 | 3624.6 | 6.0 |

Other activities | 1,028.8 | 33.8 | 9708.3 | 30.9 | 21,167.7 | 37.7 | 16,963.7 | 28.3 |

Renting of M&Eq and other business activities | 316.1 | 10.4 | 2126.2 | 6.8 | 6874.3 | 12.3 | 5442.5 | 9.1 |

Other | 712.7 | 23.4 | 7582.1 | 24.2 | 14,293.4 | 25.5 | 11,521.1 | 19.2 |

Total | 3041.5 | 100.0 | 31,382.1 | 100.0 | 56,115.8 | 100.0 | 60,033.7 | 100.0 |

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**MDPI and ACS Style**

Morales-López, R.; Quintana-Romero, L.; Mun, N.K.; Oh, I.
Examining the Bilateral Relationship between Mexico and South Korea through the Trade in Value-Added Perspective, 2000–2021. *Mathematics* **2023**, *11*, 3352.
https://doi.org/10.3390/math11153352

**AMA Style**

Morales-López R, Quintana-Romero L, Mun NK, Oh I.
Examining the Bilateral Relationship between Mexico and South Korea through the Trade in Value-Added Perspective, 2000–2021. *Mathematics*. 2023; 11(15):3352.
https://doi.org/10.3390/math11153352

**Chicago/Turabian Style**

Morales-López, Rodrigo, Luis Quintana-Romero, Nam Kwon Mun, and Inhye Oh.
2023. "Examining the Bilateral Relationship between Mexico and South Korea through the Trade in Value-Added Perspective, 2000–2021" *Mathematics* 11, no. 15: 3352.
https://doi.org/10.3390/math11153352