mysqldump vs select into outfile

Can someone explain the difference between mysqldump and select into outfile.
If im trying to dump all databases and tables for restore into a new server is one going to be faster then the other?

Thanks,
Will

mysqldump will give you entire SQL statements that can be piped into mysql. And with the correct arguments you will also get CREATE TABLE statements etc.
So a mysqldump can give you a full backup of your database.

Outfile will just give you a text file with delimited data, so the tables must already exist on the new server when you import the records.

If your dump file was created with the mysqldump --opt I’m actually not sure of which of the two ways is the fastest so you will have to try it and find out.