# Philippines to Mexico HS 300431 new corridor signal

This page reviews a reported new-corridor signal for medicaments: containing insulin, for therapeutic or prophylactic uses, packaged for retail sale. It separates reported trade observations from calculated indicators and access context.

## Signal summary

- Signal type: New corridor
- Signal strength: 57/100
- Reported period: 2024
- Buyer market imports: $329.4M
- Buyer market growth: +95.2%
- Current exporter share: 0.0%
- Share gap: 55.1%

## What the signal means

The signal points to a newly observed exporter-to-buyer relationship in the available reporting. It is a prompt for market research, not a forecast, order, or guarantee of commercial access. Compare demand, suppliers, access, and route history together before acting.

## Market opportunity

- Latest buyer imports: $329.4M
- Three-year buyer-import projection: $550.8M
- Supplier countries observed: 17
- Average buyer imports: $55.2M
- Historical buyer-import peak: $329.4M
- Full-history buyer-import CAGR: +18.7%
- Latest buyer-import annual change: +95.2%

## Competition landscape

- Top supplier: USA, Puerto Rico and US Virgin Islands
- Top supplier share: 55.1%
- Market concentration: 4,346
- Exporter share: 0.0%
- Share gap to peer benchmark: 55.1%

## Access profile

- Applied tariff: Not reported
- MFN tariff: Not reported
- Preferential tariff: Not reported
- Approximate distance: 14,232 km
- Trade agreement: Not reported
- Business entry time: 8.4 days
- Shared spoken language score: 0.1

## Buyer economy

- GDP per person: $9.9K
- GDP per-person growth: +8.8%
- Population: 130,262k
- GDP: $1.3T
- GDP five-year CAGR: Not reported
- Investment rate: 23.5%
- Savings rate: 22.5%

## Product-level history

| Year | Product exports | Year-on-year |
| ---: | ---: | ---: |
| 2024 | $735.6 | +0.0% |

## Broader route context

Broader Philippines to Mexico route exports provide route context only; they are not presented as HS 300431 product-level trade.

| Year | Route exports | Year-on-year |
| ---: | ---: | ---: |
| 1995 | $51.9M | +0.0% |
| 1996 | $109.9M | +111.9% |
| 1997 | $223.5M | +103.4% |
| 1998 | $260.7M | +16.7% |
| 1999 | $295.5M | +13.3% |
| 2000 | $498.4M | +68.7% |
| 2001 | $557.3M | +11.8% |
| 2002 | $672.8M | +20.7% |
| 2003 | $543.1M | -19.3% |
| 2004 | $657.9M | +21.1% |
| 2005 | $914.0M | +38.9% |
| 2006 | $878.0M | -3.9% |
| 2007 | $913.5M | +4.0% |
| 2008 | $934.6M | +2.3% |
| 2009 | $797.1M | -14.7% |
| 2010 | $1.1B | +40.2% |
| 2011 | $1.2B | +4.1% |
| 2012 | $992.8M | -14.7% |
| 2013 | $1.1B | +12.1% |
| 2014 | $1.4B | +30.3% |
| 2015 | $1.5B | +6.1% |
| 2016 | $1.8B | +15.0% |
| 2017 | $1.9B | +7.2% |
| 2018 | $2.2B | +18.0% |
| 2019 | $2.4B | +5.9% |
| 2020 | $2.1B | -10.5% |
| 2021 | $2.4B | +15.0% |
| 2022 | $2.9B | +19.9% |
| 2023 | $2.5B | -13.2% |
| 2024 | $2.7B | +4.9% |

## Related new-corridor signals

| Exporter to buyer | Product | Signal type | Buyer imports | Page |
| --- | --- | --- | ---: | --- |
| Philippines to Germany | HS 870380 | New corridor | $7.4B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-deu-870380) |
| Philippines to Germany | HS 300214 | New corridor | $6.9B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-deu-300214) |
| Philippines to Japan | HS 880240 | New corridor | $4.3B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-jpn-880240) |
| Philippines to Romania | HS 300490 | New corridor | $3.9B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-rou-300490) |
| Philippines to Austria | HS 300212 | New corridor | $3.7B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-aut-300212) |
| Philippines to Germany | HS 300220 | New corridor | $3.2B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-deu-300220) |
| Philippines to CHN | HS 283691 | New corridor | $2.5B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-chn-283691) |
| Philippines to Canada | HS 281820 | New corridor | $2.2B | [Review this signal](https://www.yugalinks.com/trade/signal/new-corridor/phl-can-281820) |

## Frequently asked questions

### What does a new corridor signal mean?

It identifies an exporter, buyer market, and HS6 combination included in the available new-corridor signal set for 2024. It is a research prompt, not a guarantee of demand or sales.

### Is the market opportunity reported trade?

Reported buyer imports and exporter share are observations. Any projection or share-gap measure is calculated from the available data and should not be treated as an order or forecast.

### What should exporters check next?

Validate product fit, buyers, tariffs, standards, logistics, pricing, competition, and the depth of product-level history before pursuing the route.

## Method

The signal is a calculated research indicator based on available reported trade observations. It is not a confirmed order, sales forecast, or guarantee of market entry. Validate buyers, tariffs, standards, logistics, pricing, and competition before acting.

## Data sources

- Primary trade series: OECD (2025), Balanced international merchandise trade statistics (BIMTS) - HS2017-6D, OECD Data Explorer (accessed on 2026-09-02). [OECD Data Explorer](https://data-explorer.oecd.org/) - [OECD Terms & Conditions](https://www.oecd.org/termsandconditions/)
- CEPII BACI bilateral trade flows (202601): [dataset page](https://www.cepii.fr/CEPII/en/bdd_modele/bdd_modele_item.asp?id=37) - [BACI documentation](https://www.cepii.fr/DATA_DOWNLOAD/baci/doc/baci_webpage.html) - [Etalab 2.0 Open Licence](https://www.etalab.gouv.fr/wp-content/uploads/2018/11/open-licence.pdf)

This page presents derived Yugalinks views of reported observations and calculated indicators.