The Export Trade Market of the United States of America has been on an upward growth over the past few years because of its diversifying exports with a significant contribution from the technology, energy, and agricultural sectors. Some economic factors like inflationary pressures and the dollar’s strength promote the export competitiveness of the country’s global trade. The strategies adopted by the nation like reducing the dependency on single trade resources mainly in the technology and agricultural sectors and inducing a variety of other global export necessities promote the resilience of the country’s export market.

The diversity of exports including the different ranges of products from technological equipment to agricultural and other trade necessities have targeted different trade destinations with Mexico in the lead, worth an export trade value of 361 billion US dollars in 2023. The GDP of the nation has recorded a significant hike in 2023 worth a value of 24 trillion US dollars with a growth rate of 3% worth 21.4 trillion US dollars from 2022.

Why Did Mexico Lead the Export Trade Destinations List of the Usa in 2023?

The United Mexican States has been a significant key trade partner of the United States of America for the past few years because of its geographical closeness and cost-effective transportation of Goods. Accompanying the closer geographical proximity, the other factors contributing to the resilience of these two country’s export trade markets are the trade agreements and economic interdependence. The Government initiatives behind the increasing export of USA to Mexico in 2023 are,

• USMCA Implementation
• Trade Promotion Authority
• Export Promotion Programs
• Market Access and Trade Missions
• Financial Assistance and Insurance Programs

Biggest Ports of Usa That Facilitate the Export to Mexico

According to the USA Export Customs Shipment Data, the top 5 exporting ports that transport the majority of the exports to Mexico in 2023 are discussed below,

• Los Angeles/Long Beach Port

Location – Southern Coast of California
Valuation of exports – 30 billion US dollars

Transport categories

1. Containerized Cargo
2. Automobiles and Auto Parts
3. Agricultural Products
4. Petroleum and Petrochemical Products
5. Heavy Equipment and Machinery

• Houston Port

Location - Southeastern Texas, along the Gulf Coast
Valuation of exports – 28 billion US dollars

Transport categories –

1. Petroleum and Petrochemical Products
2. Containers
3. Heavy Equipment and Machinery
4. Agricultural Products
5. Chemicals

• New York/New Jersey Port

Location - Northeastern coast of the United States
Valuation of exports – 24 billion US dollars

Transport categories -

1. Food and Beverage Products
2. Machinery and Equipment
3. Pharmaceuticals and Chemicals
4. Containerized Cargo
5. Automobiles and Auto Parts

• Savannah Port

Location - Southeastern Georgia, along the Savannah River
Valuation of exports – 22 billion US dollars

Transport categories -

1. Heavy Machinery and Equipment
2. Beverages
3. Staple Food Products
4. Textiles
5. Electrical Goods

• Norfolk/Virginia Beach Port

Location - Southeastern Virginia
Valuation of exports – 18 billion US dollars

Transport categories -

1. Automobiles
2. Machinery and Electrical equipment
3. Textiles
4. Beverages
5. Pharmaceuticals

What Are the Top Exports of the Usa to Mexico in 2023?

The exports of the United States of America to Mexico have recorded a tremendous hike in 2023 with a wide range of products. As per the USA Export Data, the top exports of the nation to Mexico in 2023 are discussed below,

• Agricultural products (HS Code -84) – The United States of America exports the majority of its agricultural goods to Mexico to reduce tariffs and promote easier logistics. The high demands of agricultural products like corn, soybeans, and dairy are some of the key factors leading the export worth a value of 20 billion US dollars in 2023.

Top 5 Agricultural Goods Exporting Brands of Usa to Mexico in 2023

1. Cargill
2. Archer Daniels Midland
3. Tyson Foods
4. Smithfield Foods
5. Dole Food Company

• Machinery (HS Code -84) – The perspective of Mexico’s manufacturing industries regarding USA machinery for being more technologically advanced and highly equipped and trade agreements like USMCA (United States-Mexico-Canada Agreement) have led to an export trade value of 18 billion US dollars in 2023.

Top 5 Machinery Exporting Brands of Usa to Mexico in 2023

1. Caterpillar Inc
2. John Deere
3. General Electric
4. Boeing
5. Honeywell International Inc

• Electrical Machinery (HS Code - 85) – The growing manufacturing sector of Mexico and the closer geographical proximity with a higher investment rate in renewable energy leads the export value of machinery to a staggering rate of 16 billion US dollars in 2023.

Top 5 Electrical Machinery Exporting Brands of Usa to Mexico in 2023

1. General Electric
2. Honeywell
3. Emerson Electric Co.
4. ABB Ltd.
5. Caterpillar Inc.

• Vehicles (HS Code -87) – The higher transportation requirements and the limited production capability of Mexico for accommodation facilities have increased the export of Vehicles from the USA with a rate of 12 billion US dollars in 2023.

Top 5 Vehicles Exporting Brands of Usa to Mexico in 2023

1. Ford Motor Company
2. General Motors
3. Fiat Chrysler Automobiles
4. Toyota Motor Corporation
5. Honda Motor Co., Ltd

• Mineral Fuels and oils (HS Code -27) – The tremendous growth in the growing energy demands of the nation and the closer geographical proximity with the USA promotes the trade rate of essential mineral fuels and oils worth a value of 10 billion US dollars in 2023.

Top 5 Mineral Fuels and Oils Exporting Brands of Usa to Mexico in 2023

1. ExxonMobil Corporation
2. Chevron Corporation
3. Valero Energy Corporation
4. Marathon Petroleum Corporation
5. Phillips 66

Export Trade Statistics of the Usa and Mexico Trade for the Last 10 Years

1. Valuations of Export from USA to Mexico in 2013 – 226.2 billion US dollars.

2. Valuations of Export from USA to Mexico in 2014 – 240. 7 billion US dollars.

3. Valuations of Export from USA to Mexico in 2015 – 136 billion US dollars.

4. Valuations of Export from USA to Mexico in 2016 – 248 billion US dollars.

5. Valuations of Export from USA to Mexico in 2017 – 189 billion US dollars.

6. Valuations of Export from USA to Mexico in 2018 – 267 billion US dollars.

7. Valuations of Export from USA to Mexico in 2019 – 278.84 billion US dollars.

8. Valuations of Export from USA to Mexico in 2020 – 282 billion US dollars.

9. Valuations of Export from USA to Mexico in 2021 – 298.12 billion US dollars.

10. Valuations of Export from USA to Mexico in 2022 – 310 billion US dollars.

FAQ’s

Que. What is the top export of the USA to Mexico in 2023?
Ans. Agricultural products are the top exports of the USA to Mexico in 2023.

Que. What is the GDP value of the USA in 2023?
Ans. The GDP value of the USA in 2023 is 24 trillion US dollars.

Que. Name one USA Government Initiative that supports the export trade to Mexico in 2023.
Ans. USMCA Implementation supports the export trade to Mexico in 2023.

Que. What is the growth rate of USA exports to Mexico in 2023?
Ans. The growth rate of USA exports to Mexico in 2023 is 7.4%.

Que. Where can you get the detailed trade analysis of the USA and Mexico Trade 2023?
Ans. By Subscribing Import Globals, you can get a detailed trade analysis of the USA and Mexico Trade 2023.

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