The mexican exports trend shows a growth of four continuous years, from 2020 to 2024.

On a global scale, Mexico ranked ninth among the largest exporters of goods in 2023.

Around 80% of these foreign sales are directed to the United States, with whom the Mexican economy has liberalized its foreign trade.

Mexican exports trend

In 2024, Mexico’s foreign sales totaled 617.1 billion dollars, 4.1% more than in 2023.

According to Inegi data, the trend of Mexican exports of goods, in millions of dollars, is shown below:

• 2020: 417,670 (-9.3% y-o-y).
• 2021: 494,225 (+18.5 percent).
• 2022: 578,193 (+16.9 percent).
• 2023: 593,012 (+2.7 percent).
• 2024: 617,100 (+4.1 percent).

Export Profile

Mexico exports to the world mainly manufactured products, from automobiles, auto parts and trucks, to washing machines, refrigerators and stoves, among other household appliances, as well as medical devices and instruments, telephones, food and electrical products, among others.

In addition to the United States, Mexico’s export markets are mainly developed countries (such as Canada, Germany and Japan), nations with trade agreements (such as Brazil and Colombia) and economies integrated into value chains (China).

In addition, Mexico is a competitive exporter of agricultural products. Among its most successful products are avocados, tomatoes, strawberries, oranges, cucumbers, pumpkins and nuts.

In another important sector, mining, Mexican exports are led by products such as gold, silver, copper and zinc.

Risks

Adverse external factors affect Mexico’s economy. For example, high international interest rates increase the country’s expenditures, while low oil prices reduce government revenues. In addition, a global inflationary environment and recession in trading partners limit economic growth.

Trade restrictions also decrease exports and foreign exchange available for debt repayment. Together, these factors negatively impact Mexico’s current account.

 Mexico’s economy depends primarily on trade and foreign investment with the United States and Canada, its main trading partners. Any variation in the supply, demand or prices of Mexican imports and exports can affect its economy. 

Likewise, a reduction in foreign investment or economic changes in the United States or Canada could have negative impacts. In addition, Mexico is highly dependent on oil exports, which makes it vulnerable to oil price fluctuations.