Mexico known as the United Mexican States is on North America’s Southern portion, with its northern border to the United States and the Southern border to Guatemala and Belize. Being spread over an area of 1, 972, 550 square kilometers the country is famous as the tenth most populous country in the world. It had a population of around 126 million people, which practiced Spanish as their official language followed by 68 other native languages like Nahuatl, Zapotec, and Yucatec Maya.

The Gross Domestic Product of the country has been steadily increasing for the past few years with an impressive growth rate of 5% each year accounting for 1.53 trillion US dollars. The economic reform, increased foreign investments and improved productivity are the reasons behind this increased GDP of the country.

Top 5 Trade Partners With GDP

The top 5 countries with a share in the export trade of Mexico are discussed below,

• United States – 78% (GDP – 22.4 trillion US dollars)
• Canada – 5% (GDP – 1.9 trillion US dollars)
• China – 3% (GDP – 17.75 trillion US dollars)
• Germany – 2% (GDP – 4.7 trillion US dollars)
• Japan – 1.8% (GDP – 5.6 trillion US dollars)

What Are Mexico Top 10 Exporting Products?

The Mexico Export Data enlists the below-mentioned products as the top ten exports of the country with high revenue generation,

• Vehicles (HS code – 87) – The globally increasing automotive industries make Mexico export a high amount of automotive products and their parts. Products like commercial buses and motor cars are exported at a rate of 100 billion US dollars.

• Electric equipment (HS code – 85) – Electrical machinery is one of the top exported products of Mexico, with an overall value of 85 billion US dollars. The electrical machinery exported includes computers, telecommunication equipment, and electronic components.

• Nuclear reactors and mechanical appliances (HS code – 84) – Nuclear reactors and mechanical appliances are the basic industrial needs for energy generation. The United Mexican States exports turbines, engines, pumps, and their parts worth 70 billion US dollars.

• Mineral fuels (HS code – 27) – The United Mexican States is a major producer of mineral fuels like oil and natural gas. The country exports such products in a high amount worth 60 billion US dollars in 2023.

• Optical instruments (HS code – 90) – The export of optical instruments and medical devices contributes a major share in the revenue of the export trades. These products are highly required for the medical industries and are exported at a rate of 35 billion US dollars.

• Fruits and nuts (HS code – 08) – The favorable climate of the country makes agricultural exports a significant part of its economic growth. Along with fruits and nuts, mangoes, berries, and avocados are some of the top exports with an export value of 30 billion US dollars.

• Plastics (HS code – 94) – The plastic industry of Mexico has been on a continuous hike for the past few years. The multipurpose uses of the material make it a top export product with an export trade value of 25 billion US dollars.

• Precious stone and metals (HS code – 71) – The mining industries of the United Mexican States contribute largely to the economy of the country with a vast production of gold, silver, and other luxurious goods. The export trade value of precious stones and metals of the year 2023 as per the Mexico Trade Data is 20 billion US dollars.

• Organic chemicals (HS code – 29) – Organic chemicals are required in a major amount in the health care industries for medicine production. Alkenes, ethers, and carboxylic acid are some of the top exported organic chemicals with an export value of 15 billion US dollars.

• Meat and seafood (HS code – 16) – Last but not least, seafood and meat are among the top ten exports of Mexico. The export trade value of meat and seafood in the year 2023 is 10 billion US dollars.

Who Are Mexico Export Top 10 Trading Partners?

The Mexico Export Data enlists the below-mentioned countries as the top 10 export partners of the nation,

• United States – Beyond the strong economic relationship between Mexico and the United States, these countries are also the top trade partners. Trade agreements like NAFTA are behind its top position, the United States imports products like electric equipment and automotive products from Mexico worth 344 billion US dollars.

• Canada – The North American country Canada captures the second position in the top ten export destinations of Mexico. The strategic location, close boundaries, and trade agreements are the reasons behind the export of petroleum products and other goods worth 20 billion US dollars.

• China – This Asian state holds the third position on the list with its top imports like electrical equipment and automotive products. The products imported from Mexico by China in the year 2023 are worth 18 billion US dollars.

• Germany –This largest economy of the European nation holds the fourth position in the list with an export trade value of products like minerals and fuels worth 12 billion US dollars.

• Japan – The high demand for automobiles and electronics produced in Mexico makes Japan import more such products. The export trade value of Mexico and Japan in the year 2023 is 10 billion US dollars.

• Spain – Crude oil and petroleum fuels are the top products that are imported from Mexico by Spain. The annual total revenue of the export of such products in the year 2023 is 9 billion US dollars.

• Jamaica – Jamaica imports products worth 8 billion US dollars from Mexico for its domestic needs. The products exported include vehicles, plastic products, and nuclear reactors for energy generation.

• Colombia – As per the Mexico Shipment Data, the trade value of the products that are shipped to get delivered to Colombia from Mexico is 7 billion US dollars.

• South Korea – Automobiles and electronics are imported at a higher rate by South Korea from the American country Mexico. The export trade value of such products in the year 2023 is 6 billion US dollars.

• Brazil – Winding up, Latin America’s largest economy holds the list tenth position with a trade value of exported products worth 5 billion US dollars in 2023.

FAQ’s

Que. Who is the top export trade partner of Mexico?
Ans. The United States is a top export trade partner of Mexico.

Que. Which other North American country's data is available?
Ans. USA, Costa Rica, Panama, Nicaragua, and Guatemala import export data are available.

Que. Which other American country's customs trade data are available?
Ans. Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Paraguay, Peru, Uruguay, and Venezuela import and export data are available.

Que. Does Import Globals have the latest data of all American countries?
Ans. Import Globals has all up-to-date import-export trade data of American countries.

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