Mexico - Colombia Trade 2024 Whole Year: $470M Surplus

Key Market Takeaways: Mexico - Colombia Trade

The bilateral trade relationship between Mexico and Colombia shows growth, volatility, and a net surplus for Mexico in 2024.

• Economic Pulse: Mexico holds a $470M trade surplus ($2.81B exports vs. $2.34B imports), though both flows face sharp monthly swings—exports spiked 44.99% MoM in October, while imports dropped 30.08% in June.
• Exchange Structure: Mexico - Colombia trade statistics reveal a resource-for-tech complementarity—Mexico ships machinery, vehicles, and pharmaceuticals (higher-value goods) while importing a concentrated, likely raw-material-heavy category (HS 99 at 58.09% share).
• Strategic Interdependence: The partnership is moderately complementary, with Mexico occupying a higher value-add position but relying on Colombia for key inputs.

This bilateral trade snapshot is based on verified customs data from the yTrade database.

Mexico-Colombia Trade Trend in Whole Year 2024

Mexico Export Performance: Shipments to Colombia

• Total Volume: Mexico exported $2.81B worth of goods to Colombia in 2024.
• Growth Trend & Context: Exports showed mixed YoY performance, with sharp declines in March (-21.07%) and July (-15.69%) offset by strong growth in October (+38.5%) and April (+23.86%).
• Key Volatility: October saw the highest MoM surge (+44.99%), while June recorded the steepest drop (-26.73%).

Mexico Import Performance: Sourcing from Colombia

• Total Volume: Mexico imported $2.34B worth of goods from Colombia in 2024.
• Growth Trend & Context: Imports fluctuated YoY, with notable contractions in September (-19.25%) and March (-17.45%) but robust expansions in April (+35.28%) and May (+31.9%).
• Key Volatility: May posted the highest MoM jump (+30.94%), while June faced the sharpest decline (-30.08%).

Mexico - Colombia Trade Balance & Market Dynamics

• Net Position: Mexico recorded a trade surplus of $470M with Colombia ($2.81B exports vs. $2.34B imports).
• Relationship Status: Mexico maintains a net exporter role, though trade remains volatile with significant monthly swings in both directions.

Mexico Import Trend from Colombia 2024 Whole Year (Source: yTrade)**

Mexico Export Trend to Colombia 2024 Whole Year (Source: yTrade)**

Get Historical Mexico Colombia Trade Records

Mexico-Colombia Top Trading Products in Whole Year 2024

Mexico Export Profile: What Does Mexico Sell to Colombia

• Top Commodity: HS Code 99 (28.01% share), likely representing a broad category of unclassified or miscellaneous goods.
• Demand Driver: The mix includes machinery (HS 85, 84), vehicles (HS 87), and pharmaceuticals (HS 30), suggesting Colombia imports these for industrial and consumer market needs.
• Concentration: No single category dominates; the top export (HS 99) holds 28%, indicating diversified trade.

Mexico Import Profile: What Does Mexico Buy from Colombia

• Top Commodity: HS Code 99 (58.09% share), again likely unclassified goods, but with a heavy concentration.
• Dependency Nature: The high share of HS 99 implies a potential reliance on a specific, possibly raw or intermediate, product from Colombia. Other imports like chemicals (HS 38, 39) and foodstuffs (HS 21) suggest supplementary industrial and agricultural needs.

Mexico - Colombia Trade Relationship Dynamics

• The Exchange Model: Resource-for-Tech Complementarity. Mexico exports machinery and vehicles (higher-value tech) to Colombia while importing a concentrated, likely resource-based category (HS 99) in return.
• Value Chain Position: Mexico holds the higher value-add position, exporting complex goods (e.g., vehicles, electronics) versus Colombia’s less diversified, possibly commodity-heavy exports.

Import Analysis by Product: Colombia to Mexico (Source: yTrade)

Export Analysis by Product: Mexico to Colombia (Source: yTrade)

Check Detailed Mexico-Colombia Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast for Mexico-Colombia Trade

Mexico’s trade surplus with Colombia is expected to hold steady in 2025, but volatility will persist due to fluctuating demand for machinery (HS 84, 85) and Colombia’s concentrated exports (HS 99). The resource-for-tech exchange model will remain dominant, with Mexico’s industrial exports benefiting from Colombia’s growing infrastructure needs. However, traders should prepare for supply chain disruptions, particularly in months like June and September, which historically see sharp declines. Long-term growth hinges on stabilizing Colombia’s import demand and diversifying Mexico’s sourcing beyond HS 99.

Strategic Moves for Traders & Exporters

• Lock in Long-Term Contracts for HS 99 Imports: Given Colombia’s heavy reliance on this category, Mexican buyers should secure stable pricing and supply terms to mitigate volatility risks.
• Target Colombia’s Industrial Expansion with Machinery Exports: Capitalize on Colombia’s infrastructure projects by prioritizing high-value exports (HS 84, 85, 87) through tailored trade promotions.
• Diversify Import Sources for Critical Inputs: Reduce dependency on Colombia’s HS 99 shipments by exploring alternative suppliers in Central America or Asia to buffer against sudden trade swings.

Frequently Asked Questions

How did Mexico - Colombia trade perform in 2024 Whole Year?

Mexico exported $2.81B to Colombia and imported $2.34B, showing mixed growth with sharp monthly swings but an overall trade surplus of $470M.

What are the top exports from Mexico to Colombia?

Mexico’s top exports include machinery (HS 85, 84), vehicles (HS 87), and pharmaceuticals (HS 30), with HS Code 99 (unclassified goods) leading at 28.01% share.

What does Mexico import from Colombia?

Mexico primarily imports HS Code 99 (58.09% share, likely unclassified goods), alongside chemicals (HS 38, 39) and foodstuffs (HS 21) from Colombia.

What is the trade balance between Mexico and Colombia?

Mexico holds a trade surplus of $470M with Colombia, maintaining its net exporter role despite volatile monthly trade flows.