Mexico Balance of Trade

Last Release

Sep 30, 2024

Actual

-579

Units In

USD Million

-4,868

Frequency

Monthly

Next Release

Nov 27, 2024

Time to Release

28 Days 11 Hours

Highest	Lowest	Average	Date Range	Source
6,256.09 Oct 2020	-6,286 Jan 2022	-306.53 USD Million	1980-2024	N/A

Mexico's main exports are manufactured products (89 percent of total shipments) and oil and oil products (6 percent). Main imports are: metallic products, machinery and equipment (53 percent of total purchases), oil products (10 percent) and agricultural goods (3 percent). The country's top trading partner is the United States (80 percent of total exports and 46 percent of total imports). Others include: China, Japan and Germany. In 2017, trade between Mexico and the United States reached USD 522 billion, with Mexico posting a surplus of near USD 132 billion. Main exports to US include: other parts and accessories of vehicles (14 percent of total sales); trucks, buses and special purpose vehicles (10 percent); passenger cars (10 percent); computers (6 percent); telecommunication equipment (5 percent). Main imports from the United States are: other parts and accessories of vehicles (8 percent of total imports); electric apparatus (7 percent); petroleum products (6 percent) and computer accessories (6 percent). .

Latest Updates

Mexico recorded a trade deficit of $0.579 billion in September of 2024, narrowing sharply from the $1.5 billion deficit in the corresponding period of the previous year, marking the lowest trade gap for the month since 2019. Imports fell by 1.8% annually to $50.2 billion, pressured by a 33.8% plunge in oil imports amid the fall in crude oil prices and the slowdown in Mexican goods output, warranting less fuel demand. Additionally, imports of capital goods fell by 4.5%, while nonpetroleum imports rose by 1.4%. In turn, export turnover was unchanged in the period at $49.6 billion. Foreign sales of petroleum products sank by 44.9%, offsetting a 3.3% increase in non-petroleum exports.