Mexico‘s export trend has been positive in recent years, driven in part by the certainty of the USMCA.
In 2023, Mexico’s foreign sales grew at a 3% year-on-year rate to US$593 billion.
Who were the main markets?
- United States: 472 billion dollars, +4 percent.
- Canada: $18.9 billion, -11 percent.
- China: 9.15 billion, -15 percent.
- Germany: $8.75 billion, +6 percent.
Export trend
The USMCA is a treaty between Mexico, the United States and Canada that replaced the North American Free Trade Agreement (NAFTA), which had been in force since January 1994, in July 2000.
What are the main products exported from Mexico in 2023?
- Automobiles: 57.33 billion dollars, +22 percent.
- Vehicles for the transportation of goods: 37.72 billion dollars, +15 percent.
- Computers: US$29.4 billion, -32 percent.
- Petroleum: US$27.6 billion, -13 percent.
MSMEs
On January 25, 2024, Mexico, the United States and Canada recognized the critical role of the USMCA in ensuring that micro, small and medium-sized enterprises (MSMEs) and marginalized and underrepresented communities benefit more from trade.
The countries discussed the importance of strengthening and increasing the competitiveness of the North American steel and aluminum industries, and proposed to cooperate in the identification of the origin of these products outside the region and the exchange of information between anti-dumping agencies.
Then, on May 22, 2024, the fourth meeting of the USMCA free trade commission was held.
At the meeting, the United States, Mexico and Canada agreed to:
- Increase the integration of MSMEs into regional and global supply chains.
- Strengthen implementation of USMCA environmental commitments.
- Recognize that emergency response work is fundamental to the security and competitiveness of North America.
- Reaffirm the USMCA’s commitment to uphold workers’ rights, including the right to freedom of association and collective bargaining.