Published on Friday, March 15, 2024

Mexico | Mexico is now the largest exporter to the US

By the end of 2023, Mexico recorded a trade deficit of 5,463 million dollars ($5.46 bn). Manufacturing leads both exports and imports. Mexico solidified its position as the leading supplier in the US market while FDI dropped slightly in 2023.

Key points

  • Key points:
  • The total value of Mexico's international merchandise trade reached $1.2 trillion dollars in 2023, just 0.8% above 2022.
  • In the same period, Mexican goods exports grew by 2.6%y/y, also in current figures, while imports fell by 1.0%.
  • Of the $593 bn in exports during 2023, manufactured goods represented 89.2%
  • The United States (US) remains Mexico's leading trading partner. The total trade value between countries reached $745.6 bn
  • During 2023, Mexico attracted FDI flows of $36.1 bn, a contraction of 0.7% in current figures

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