The second largest economy of Latin America, Mexico has recorded itself as the 11th largest exporter across the globe with diversification of exports and quality equipped products and customer services towards foreign investors. The strategic location of the nation between North and South America and the robust manufacturing sector along with the modernization of the transportation ports is facilitating the export trade market of the nation to record a suitable annual export revenue. Ranging from different automotive goods to machinery and other industrial necessities export trade market information satisfying the global requirements from its trade management authorities has recorded an annual export trade value of 1.5 trillion US dollars in 2023.

The strong economic ties of the nation with China, Japan, and the United States like countries account for more than 70% of the total annual export trade value. The increasing interest of the government authorities over the modernization of the export sectors and the reduction of taxes during the transportation of goods over the seas fosters the globally growing economy.

Leading Exports of Mexico in 2023

The increasing production capabilities of the industrial sectors of Mexico and the inclusive trade agreements signed by the trade management authorities with the leading trade destinations worldwide are recording a significant hike in the globally growing export market. According to the Mexico Export Data, the top exported products of the nation in 2023 are,

1. Vehicles – The increasing requirement for automotive goods like passenger cars, light trucks, commercial vehicles, electric vehicles, motorcycles, and mopeds has recorded an export trade value of vehicles worth 90 billion US dollars in 2023.

2. Electrical Equipment – The increasing requirement of electrical equipment from normal households to large industrial sectors has recorded an export trade value of 85 billion US dollars in 2023 for subcategories of electrical equipment like electrical components, wiring and cables, Transformers and power supply equipment consumer electronics, solar panels, and renewable energy equipment.

3. Nuclear Reactors and Mechanical Appliances – The requirement of energy over different industrial sectors and the huge application of nuclear reactors in different industries have recorded an export trade value of 70 billion US dollars for subcategories like nuclear reactors and parts mechanical appliances for nuclear applications, control, and monitoring systems, mechanical components for energy generation, research, and development equipment, etc.

4. Mineral Fuels - Mineral fuels have recorded an export trade value of 60 billion US dollars for top requirements like crude oil, commodified petroleum products, natural gas, coal, petroleum gases, etc.

5. Optical Instruments – Top global requirements like optical lenses, cameras and imaging devices, microscopes and laboratory instruments, binoculars, telescopes, and optical instruments for medical uses have recorded an overall annual export trade value of 35 billion US dollars in 2023.

Top 10 Export Trade Partners of Mexico in 2023

According to the Mexico Trade Data, the top 10 export trade partners of the nation in 2023 recording an annual export trade value of 570 billion US dollars are,

1. United States – As per the USA Import Data, the total value of Mexican exports in 2023 – 450 billion US dollars.

EXPORTED PRODUCTS

1. Motor Vehicles and Auto Parts
2. Electrical Machinery & Equipment
3. Mineral Fuels and Oils (including crude oil)
4. Agricultural Products
5. Machinery

2. Canada – As per the Canada Import Data, the total value of Mexican exports in 2023 – 320 billion US dollars.

EXPORTED PRODUCTS

1. Motor Vehicles and Auto Parts
2. Electrical Machinery and Equipment
3. Telecommunications equipment
4. Computers and components
5. Organic chemicals

3. China – As per the China Import Data, the total value of Mexican exports in 2023 – 280 billion US dollars.

EXPORTED PRODUCTS

1. Gold
2. Fruit and nuts
3. Beer
4. Electrical transformers
5. Pharmaceutical products

4. Germany – As per the Germany Import Data, the total value of Mexican exports in 2023 – 245 billion US dollars.

EXPORTED PRODUCTS

1. Ships, boats, and floating structures
2. Aircraft and spacecraft
3. Plastic articles
4. Silver
5. Coffee, tea, mate, and spices

5. Japan – As per the Japan Import Data, the total value of Mexican exports in 2023 – 185 billion US dollars.

EXPORTED PRODUCTS

1. Articles of iron or steel
2. Tequila and other agave spirits
3. Edible vegetables
4. Iron and steel products
5. Natural gas

6. The Netherlands – As per the Netherlands Import Data, the total value of Mexican exports in 2023 – 98 billion US dollars.

EXPORTED PRODUCTS

1. Cereals
2. Cotton
3. Photographic and cinematographic goods
4. Fruits
5. Other chemical products

7. Spain – As per the Spain Import Data, the total value of Mexican exports in 2023 – 87 billion US dollars.

EXPORTED PRODUCTS

1. Dairy products
2. Prepared foodstuffs
3. Petroleum oils
4. Toys, games, and sports equipment
5. Pumps, compressors, and fans

8. Brazil – As per the Brazil Import Data, the total value of Mexican exports in 2023 – 65 billion US dollars.

EXPORTED PRODUCTS

1. Aluminum and aluminum products
2. Perfumes and cosmetics
3. Art and antique articles
4. Wine
5. Plastic and rubber products

9. United Kingdom – As per the United Kingdom Import Data, the total value of Mexican exports in 2023 – 45 billion US dollars.

EXPORTED PRODUCTS

1. Electrical capacitors
2. Fruits
3. Paper and paper products
4. Medicinal and pharmaceutical products
5. Clothing

10. Italy – As per the Italy Import Data, the total value of Mexican exports in 2023 – 32 billion US dollars.

EXPORTED PRODUCTS

1. Vegetables
2. Iron or steel scrap
3. Fats and oils of animal or vegetable
4. Vegetable oils
5. Optical, photographic, cinematographic apparatus

FAQ’s

Que. What is the export trade value of Mexico in 2023?
Ans. The export trade value of Mexico in 2023 is 1.5 trillion US dollars.

Que. What is the top exported product of Mexico in 2023?
Ans. Vehicles are the top exported product of Mexico in 2023.

Que. Who is the top export trade partner of Mexico in 2023?
Ans. The United States dominates the export trade partners list of Mexico in 2023.

Que. Where can you get a detailed trade analysis of Mexico's exports in 2023?
Ans. By subscribing to Import Globals you can get a detailed trade analysis of Mexico's export in 2023.

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