Inegi released this Monday the results of Mexican imports in the last five years, reaching a record in 2024.
External purchases from Mexico were 625,312 million dollars in 2024, an increase of 4.5% over 2023.
Mexico imports more than two-fifths from the United States and one-fifth from China. Other relevant suppliers were Germany, Japan, South Korea and Thailand.
Results of Mexican imports
Mexico’s main imports include auto parts, gasoline, electronic circuits, automobiles, telephones, computers, gas and electrical transformers.
Below is the trend of Mexican imports of products, in millions of dollars, according to data from the Ministry of Economy:
- 2020: 383,194 (-15.8% y-o-y).
- 2021: 505,716 (+32.1 percent).
- 2022: 604,615 (+19.6 percent).
- 2023: 298,475 (-1.0 percent).
- 2024: 625,312 (+4.5 percent).
In 2024, intermediate-use goods accounted for 75.6 percent of the total value of imports. In addition, consumer goods contributed 14.5 percent, while capital goods reached 9.9 percent.
Economic Profile
Mexico’s economic growth is supported by its stable macroeconomic framework, the dynamism of the United States and its solid manufacturing base.
However, to achieve sustainable growth and reduce poverty, it is critical to address structural constraints such as limited access to finance, insecurity, informality, regulatory burdens and infrastructure bottlenecks. In addition, addressing fiscal challenges is key to making the most of the opportunities offered by nearshoring in the global context.
Mexico stands out for its expertise in sectors such as automotive, electronics, manufacturing and technology services. Its participation in global value chains (GVCs) focuses on backward linkages, importing inputs to produce goods and services for export. With more than 50 trade agreements, including the Mexico-United States-Canada Agreement (USMCA) and treaties with other international markets, Mexico provides preferential access to companies, allowing duty-free or tariff-reduced exports.