In 2024, Mexico's total trade reached $1.24T, with $619.0B in exports and $625.9B in imports, resulting in a trade balance of -$6.9B.
Mexico ranks 11th globally for total trade, 10th for exports, and 10th for imports.
The country's top export destination is the United States, accounting for 81.3% of total exports with a value of $503.3B.
Top imports primarily come from the United States (40.3%) and China (20.7%).
Vehicles (HS2 87) are Mexico's largest export category, valued at $158.2B, making up 25.6% of the country's total exports.
Electrical machinery and equipment (HS2 85) is a key category for both exports ($107.0B) and imports ($131.0B).
Mexico's Trade Performance in 2024
In 2024, Mexico solidified its position as a major player in global trade, ranking 11th worldwide with a total trade volume of $1.24T. The nation's exports were valued at $619.0B against imports of $625.9B, leading to a trade deficit of -$6.9B. This performance underscores Mexico's integral role in international supply chains.
Top Traded Goods
Mexico's export economy is heavily reliant on manufacturing. The leading export is Vehicles; other than railway or tramway rolling stock, and parts and accessories thereof (HS2 87), which brought in $158.2B. Following this are Electrical machinery and equipment (HS2 85) at $107.0B and Machinery and mechanical appliances (HS2 84) at $103.2B. On the import side, Electrical machinery and equipment (HS2 85) was the most significant category, valued at $131.0B, followed by Machinery and mechanical appliances (HS2 84) at $107.6B.
Mexico's trade is predominantly with the United States, which accounts for 81.3% of its exports ($503.3B) and 40.3% of its imports ($252.2B). Other significant export partners include Canada and Germany. For imports, Mexico relies heavily on China, which supplies 20.7% of its total imports, valued at $129.8B, followed by Rep. of Korea.