Imports of intermediate goods to Mexico grew 1.3% from January to May 2024 over the same period in 2023.

Intermediate-use goods are used in production and go through changes or are integrated with other goods to create new products.

In all of 2023, imports of intermediate goods to the Mexican market totaled $452.891 billion, down 4.9% over 2022, according to data from the Bank of Mexico.

In Mexico, several types of intermediate-use goods that are critical to various industries are imported. 

These include electronic and electrical components, such as semiconductors, integrated circuits and telecommunications equipment. 

These are essential to both consumer electronics and the automotive industry, facilitating technological advancement and efficient production.

Imports of intermediate goods

Chemical and petrochemical products also represent an important group of these imports. 

They include plastics, resins, fertilizers, pharmaceuticals and industrial chemicals, all crucial for various industrial and commercial applications in the country, from manufacturing to agriculture and health.

What have imports of intermediate-use goods to Mexico been like over the past five years, in millions of dollars?

• 2019: 352,847.
• 2020: 303,733.
• 2021: 403,151.
• 2022: 476,145.
• 2023: 452,891.

According to preliminary figures for 2023, total imports (excluding services) into Mexico showed a 1.0% decrease from 2022. 

This trend was driven by a 3.1% increase in non-oil imports and a notable 30.2% decrease in oil imports compared to the previous year. 

Within these imports, intermediate goods accounted for 75.7 percent, consumer goods 14.6 percent, and capital goods 9.7 percent.

According to preliminary figures for 2023, Mexico’s total exports (excluding services) increased 2.6 percent over 2022. 

This increase was mainly driven by a 3.9 percent increase in non-oil exports and a 14.8 percent decrease in oil exports compared to the previous year. 

During 2023, the largest annual increases in exports were observed in professional and scientific equipment (20.6%), automotive products (13.2%), photographic optics and watchmaking (12.9%), textiles, apparel and leather (1.8%), and chemicals (1.0 percent).