Mexico

Total Trade Compared to the same month a year ago

0.92%

Compared to last month

6.75%

Total Exports Compared to the same month a year ago

-1.73%

Compared to last month

11.17%

Total Imports Compared to the same month a year ago

2.85%

Compared to last month

3.88%

RankAmong U.S. trading partners this month

1

Rank 2023 this month

1

Mexico’s total trade with the United States was $64.52 billion in January, a change of 0.92 percent from the same month one year ago. The change in exports was -1.73 percent and the change in imports was 2.85 percent. Mexico ranked No. 1 among U.S. trade partners in January. It had ranked No. 1 for the same month last year.

The top three U.S. exports by value in January were Gasoline, other fuels, (2) Motor vehicle parts, and (3) Computer chips. The top three U.S. imports from Mexico, also by value, were Passenger vehicles, (2) Commercial vehicles, and (3) Motor vehicle parts. By tonnage, the top three U.S. exports were (1) Gasoline, other fuels, (2) Corn, and (3) LNG, other petroleum gases. The top three U.S. imports, also by tonnage, were (1) Oil, (2) Gasoline, other fuels, and (3) Gypsum.

Overall Rank

EXPORT to Excel:
By value: YTD | Month | Annual   By tonnage: YTD | Month | Annual
EXPORT to Excel:
By value: YTD | Month | Annual   By tonnage: YTD | Month | Annual
EXPORT to Excel:
By value: YTD | Month | Annual   By tonnage: YTD | Month | Annual

Top Exports

Rank Commodity YTD
1 Gasoline, other fuels $2.6 billion
2 Motor vehicle parts $1.6 billion
3 Computer chips $1.1 billion
4 LNG, other petroleum gases $815 million
5 Low-value shipments $766.7 million
6 Computer parts $701 million
7 Corn $436.1 million
8 Electrical supplies <1000V $393.3 million
9 Insulated wire, cable $386.1 million
10 Medical instruments $374 million

Top Imports

Rank Commodity YTD
1 Passenger vehicles $3.4 billion
2 Commercial vehicles $3 billion
3 Motor vehicle parts $2.8 billion
4 Computers $2.5 billion
5 Insulated wire, cable $1.3 billion
6 Oil $1.1 billion
7 Medical instruments $965.7 million
8 Cell phones, related equipment $743.7 million
9 Tractors $706.8 million
10 Electrical boards, panels and switches $667.1 million

U.S. trade with Mexico rose 0.92 percent through January

Mexico’s trade with the United States increased to $64.52 billion through the first month of 2024, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 0.92 percent above its total trade during the same month a year ago. U.S. exports to Mexico decreased 1.73 percent while U.S. imports from Mexico rose 2.85 percent. The U.S. deficit with Mexico was $11.56 billion.

Through January, the top five among the nation’s airports, seaports and border crossings were No. 1 Port Laredo; No. 2 Ysleta-Zaragoza International Bridge, TX; No. 3 Otay Mesa Freeway Border Crossing, CA; No. 4 Pharr International Bridge in TX; and No. 5 Eagle Pass. During the same period the previous year, the top five were No. 1 Port Laredo; No. 2 Ysleta-Zaragoza International Bridge, TX; No. 3 Otay Mesa Freeway Border Crossing, CA; No. 4 Pharr International Bridge in TX and No. 5 Eagle Pass. In the current time period, the top five accounted for 65.58 percent of Mexico’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port Laredo rose 1.6 percent to $24.52 billion.
    Exports rose 2.99 percent to $10.09 billion. Imports rose 0.66 percent to $14.44 billion.
  • Trade with No. 2 Ysleta-Zaragoza International Bridge, TX fell 4.26 percent to $6.4 billion.
    Exports fell 5.97 percent to $2.36 billion. Imports fell 3.23 percent to $4.04 billion.
  • Trade with No. 3 Otay Mesa Freeway Border Crossing, CA fell 12.94 percent to $4.16 billion.
    Exports fell 10.75 percent to $1.68 billion. Imports fell 14.37 percent to $2.47 billion.
  • Trade with No. 4 Pharr International Bridge in TX fell 1.08 percent to $3.68 billion.
    Exports fell 8.19 percent to $1.35 billion. Imports rose 3.56 percent to $2.33 billion.
  • Trade with No. 5 Eagle Pass rose 21.99 percent to $3.56 billion.
    Exports rose 8.34 percent to $920.93 million. Imports rose 27.6 percent to $2.64 billion.

Mexico ranked No. 1 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 1.

Meanwhile, total U.S. trade with the world increased to $414.38 billion, down 1.3 percent compared to the same period last year. The nation’s exports dropped 2.96 percent to $160.58 billion; imports dropped 0.22 percent to $253.8 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Germany and Japan. The overall trade deficit was $93.21 billion, up compared to the same period of last year when the deficit was $88.86 billion.

The top five U.S. exports to Mexico by value through January were the categories of Gasoline, other fuels; Motor vehicle parts; Computer chips; LNG, other petroleum gases; and Low-value shipments, respectively. They accounted for 25.82 percent of total exports to Mexico.

The value of the top five categories of U.S. imports from Mexico –– Passenger vehicles; Commercial vehicles; Motor vehicle parts; Computers; and Insulated wire, cable –– accounted for 33.94 percent of all inbound shipments.

Looking more closely at U.S. exports to Mexico:

  • Gasoline, other fuels fell 16.61 percent compared to last year to $2.59 billion.
  • Motor vehicle parts rose 0.04 percent compared to last year to $1.61 billion.
  • Computer chips rose 0.44 percent compared to last year to $1.06 billion.
  • LNG, other petroleum gases fell 20.89 percent compared to last year to $814.98 million.
  • Low-value shipments fell 2.68 percent compared to last year to $766.74 million.

Looking more closely at U.S. imports from Mexico:

  • Passenger vehicles rose 17.9 percent compared to last year to $3.36 billion.
  • Commercial vehicles rose 3.15 percent compared to last year to $2.99 billion.
  • Motor vehicle parts rose 3.94 percent compared to last year to $2.8 billion.
  • Computers rose 7.55 percent compared to last year to $2.49 billion.
  • Insulated wire, cable rose 3.43 percent compared to last year to $1.27 billion.

In the latest annual figures available, Mexico recorded $798.83 billion in trade with the United States. Total U.S. exports to Mexico were $ 323.23 billion and imports from Mexico were $475.61 billion. The U.S. deficit with Mexico was $152.38 billion.