Imports of capital goods to Mexico totaled 37.744 billion dollars in the first eight months of 2023, an interannual increase of 22.5%, according to Inegi data.

In August, this indicator totaled US$5.205 billion, up 18.2% over the same month of 2022.

During 2022, total imports (excluding services) increased 19.6% compared to 2021.

This was mainly due to year-over-year increases of 17.4% in non-oil imports and 37.6% in oil imports.

Intermediate goods accounted for 78.7% of imports, while consumer goods and capital goods accounted for 13.3% and 8.0% of imports, respectively.

Imports of capital goods

The Mexican economy is highly dependent on trade and foreign investment from the United States and Canada, which are Mexico’s principal trading partners.

Any change in the supply, demand, price or other economic components of Mexico’s imports or exports, as well as any reduction in foreign investment or changes in the U.S. or Canadian economies, may have an adverse impact on the Mexican economy.

Capital assets include, for example, machinery, new equipment, including testing equipment, tools, molds and molding patterns, industrial and quality control instruments and apparatus, as well as their respective accessories, spare parts and replacements, incorporated into fixed assets.