Mexico (MEX) Exports, Imports, and Trade Partners | The Observatory of Economic Complexity (2024)

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Mexico (MEX) Exports, Imports, and Trade Partners | The Observatory of Economic Complexity? ›

Overview In 2022, Mexico was the number 14 economy in the world in terms of GDP (current US$), the number 10 in total exports, the number 13 in total imports, the number 74 economy in terms of GDP per capita (current US$) and the number 21 most complex economy according to the Economic Complexity Index (ECI) .

According to the Observatory of Economic Complexity, in 2022 Mexico was the 11th economy in total exports, the 13th in total imports, and the 22 most complex economy in terms of the ECI.

1 Mexico In 2023 Than Ever, Data Shows. Contributor. Mexico did more trade with the United States in 2023 that ever and it once again become the United States' top trade partner, according to U.S. trade data released today.

About four-fifths of Mexico's petroleum is exported to the United States, which relies heavily on Mexico as one of its principal sources of oil. Mexico's major imports include machinery and transport equipment, chemicals, and consumer goods.

In 2021, the top partner countries to which Mexico Exports Minerals include China, Korea, Rep., Unspecified, United States and Japan.

Mexico's main exports are manufactured products (89 percent of total shipments) and oil and oil products (7 percent). Among manufactured products, metallic, machinery and equipment is the major category (59 percent) and automobiles account for around 29 percent of total sales.

Exports The top exports of Mexico are Cars ($48.4B), Computers ($39.3B), Crude Petroleum ($38.2B), Motor vehicles; parts and accessories (8701 to 8705) ($38.1B), and Delivery Trucks ($29.1B), exporting mostly to United States ($421B), Canada ($22.2B), China ($12.7B), Chinese Taipei ($7.86B), and South Korea ($7.29B).

In 2021, Mexico major trading partner countries for exports were United States, Unspecified, Canada, China and Other Asia, nes and for imports they were United States, China, Korea, Rep., Germany and Japan.

The main sectors of the Mexican economy are services, manufacturing, commerce, agriculture, mining, energy production, and the financial industry.

Mexico ranks among the world's most prolific petroleum-producing countries, and petroleum exports account for a large share of foreign-exchange earnings.

What is Mexico's economy based on? ›

Today, Mexico has a large, diversified, and strong economy with its oil sector, remittances from the United States, exports, agriculture, mining, tourism, and industrial activity playing the most significant roles in its growth.

Mexico has a mixed economy based on agriculture, manufacturing, and the extraction of petroleum and natural gas. About one-eighth of the land is arable; major crops include corn, wheat, rice, beans, coffee, cotton, fruits, and vegetables. Mexico is the world's largest producer of silver, bismuth, and celestite.

Overview In 2022, United States was the number 1 economy in the world in terms of GDP (current US$), the number 2 in total exports, the number 1 in total imports, the number 8 economy in terms of GDP per capita (current US$) and the number 10 most complex economy according to the Economic Complexity Index (ECI) .

Mexico scored 64.95 points out of 100 on the 2019 Global Competitiveness Report published by the World Economic Forum. Competitiveness Index in Mexico averaged 18.18 Points from 2007 until 2019, reaching an all time high of 64.95 Points in 2019 and a record low of 4.18 Points in 2010. source: World Economic Forum.

The World Bank classifies Mexico as an upper-middle-income country.

Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Mexico has become the US' second-largest export market and third-largest source of imports.