Exports of services from Mexico to the United States have shown a growing trend both in nominal terms and in market share.
These Mexican foreign sales to that market grew from $30.5 billion in 2019 to $44.8 billion in 2023, according to data from the U.S. International Trade Commission (USITC).
What has the trend been like? In millions of dollars it looks like this:
- 2019: 30,500
- 2020: 17,800
- 2021: 28,700
- 2022: 38,800
- 2023: 44,800
Exports of services from Mexico
Services include the transportation of goods and passengers. In addition, they include travel and communications services, such as postal, telephone and satellite services. They also offer construction, insurance and financial services. They also include computer and information services, royalties and licensing rights. Other business services include marketing, operational leasing, and technical and professional services. Not to be forgotten are cultural, recreational and governmental services that are not listed above.
From around the world, U.S. imports of business services increased from $593.3 billion in 2019 to $748.2 billion in 2023.
The trajectory of these purchases is shown below, in millions of dollars:
- 2019: 593,300
- 2020: 767,100
- 2021: 569,800
- 2022: 713,900
- 2023: 748,200
Market share
The Organization for Economic Co-operation and Development (OECD) states that trade in services drives the exchange of ideas, know-how and technology, although it is often restricted by barriers such as domestic regulations.
According to the USITC, Mexico’s market share of total U.S. imports of commercial services was as follows:
- 2019: 5.1 percent.
- 2020: 3.8 percent.
- 2021: 5.0 percent.
- 2022: 5.4 percent.
- 2023: 6.0 percent.
To take into account the variety in the way services are traded, WTO members defined a system to classify four modes of service supply, based on the location of the service supplier and the consumer, taking into account their respective nationalities:
- Cross-border supply (consumer and service supplier located in their respective countries).
- Consumption abroad (consumer travels).
- Commercial presence in another country (FDI).
- Presence of natural persons (travel of the service provider).