Mexico - Colombia Trade 2024 Q4: $271.74M Surplus
Key Market Takeaways: Mexico - Colombia Trade
The bilateral trade relationship between Mexico and Colombia reinforced Mexico’s net exporter role with a strong trade surplus in Q4 2024.
- Economic Pulse: Mexico posted a $271.74M trade surplus ($772.28M exports vs. $500.54M imports), with exports surging 38.5% YoY in October before moderating.
- Exchange Structure: Mexico - Colombia trade statistics reveal resource-for-tech complementarity—Mexico ships machinery, electronics, and vehicles (HS 85, 84, 87) while importing raw materials (HS 99) and agricultural/chemical products.
- Strategic Interdependence: The partnership thrives on asymmetric value-add, with Mexico dominating higher-value exports and Colombia supplying commodity inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Mexico-Colombia Trade Trend in Q4 2024
Mexico Export Performance: Shipments to Colombia
- Total Volume: Mexico exported $772.28M worth of goods to Colombia in Q4 2024.
- Growth Trend & Context: Exports surged 38.5% YoY in October, with a strong 44.99% MoM increase, suggesting a sharp rebound or seasonal demand. However, November saw an 18.02% MoM drop, followed by a marginal 0.42% decline in December.
- Key Volatility: October was the peak month, while November recorded the steepest monthly contraction.
Mexico Import Performance: Sourcing from Colombia
- Total Volume: Imports from Colombia totaled $500.54M in Q4 2024.
- Growth Trend & Context: YoY growth was mixed, with December posting a 20.82% increase despite a 21.75% MoM drop. November’s 31.77% MoM spike was the quarter’s highlight.
- Key Volatility: November saw the highest monthly surge, while December’s sharp MoM decline offset earlier gains.
Mexico - Colombia Trade Balance & Market Dynamics
- Net Position: Mexico held a trade surplus of $271.74M ($772.28M exports vs. $500.54M imports).
- Relationship Status: Mexico reinforced its net exporter role, with exports outpacing imports by 54.3%. The surplus reflects stronger demand for Mexican goods in Colombia.
Mexico Import Trend from Colombia 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 149.47M | -10.25% | -7.92% |
| Nov | 196.96M | 31.77% | 15.81% |
| Dec | 154.11M | -21.75% | 20.82% |
| Total | 500.54M | - | - |
Mexico Export Trend to Colombia 2024 Q4 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Oct | 292.96M | 44.99% | 38.5% |
| Nov | 240.16M | -18.02% | 10.31% |
| Dec | 239.15M | -0.42% | 23.36% |
| Total | 772.28M | - | - |
Get Historical Mexico Colombia Trade Records
Mexico-Colombia Top Trading Products in Q4 2024
Mexico Export Profile: What Does Mexico Sell to Colombia
- Top Commodity: HS Code 99 (27.99% share, $216.15M).
- Demand Driver: Colombia likely uses these exports for industrial processing, given the mix of intermediate goods (e.g., HS 85, 84) and consumer products (e.g., HS 33, 21).
- Concentration: Moderate concentration—top 3 exports (HS 99, 87, 85) account for 62.92% of total exports.
Mexico Import Profile: What Does Mexico Buy from Colombia
- Top Commodity: HS Code 99 (55.56% share, $278.08M).
- Dependency Nature: Likely raw material or agricultural dependency, given the dominance of HS 99 and secondary categories like HS 15 (oils) and HS 38 (chemicals).
Mexico - Colombia Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Mexico exports machinery/electronics (HS 85, 84) and vehicles (HS 87) while importing raw materials (HS 99) and agricultural/chemical products.
- Value Chain Position: Mexico holds higher value-add, exporting complex goods (e.g., vehicles, pharmaceuticals) versus Colombia’s commodity-heavy exports.
Import Analysis by Product: Colombia to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 278.08M | 55.56% |
| 33 | 39.12M | 7.82% |
| 39 | 31.06M | 6.20% |
| 21 | 23.22M | 4.64% |
| 38 | 23.11M | 4.62% |
| 15 | 22.54M | 4.50% |
| 70 | 7.87M | 1.57% |
| 85 | 7.07M | 1.41% |
| 62 | 6.39M | 1.28% |
| 84 | 5.71M | 1.14% |
Export Analysis by Product: Mexico to Colombia (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 216.15M | 27.99% |
| 87 | 172.62M | 22.35% |
| 85 | 97.16M | 12.58% |
| 30 | 76.02M | 9.84% |
| 33 | 33.29M | 4.31% |
| 84 | 30.66M | 3.97% |
| 22 | 26.08M | 3.38% |
| 39 | 19.43M | 2.52% |
| 21 | 12.67M | 1.64% |
| 38 | 10.68M | 1.38% |
Check Detailed Mexico-Colombia Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Mexico’s trade surplus with Colombia is expected to hold steady in Q1 2025, supported by sustained demand for Mexican machinery, electronics, and vehicles. However, volatility in monthly export growth—particularly the sharp October peak and November contraction—suggests traders should prepare for seasonal fluctuations. Colombia’s reliance on Mexican intermediate and consumer goods, paired with Mexico’s need for Colombian raw materials, reinforces a stable but price-sensitive exchange. The Mexico - Colombia trade forecast points to moderate expansion, contingent on avoiding supply chain disruptions and commodity price swings.
Strategic Moves
- Lock in Long-Term Contracts: Mexican exporters of HS 85 (electronics) and HS 87 (vehicles) should secure multi-quarter agreements with Colombian buyers to stabilize revenue amid demand volatility.
- Diversify Import Sources: Reduce dependency on Colombian HS 99 (commodities) by exploring alternative suppliers in Peru or Brazil to mitigate price risks.
- Optimize Logistics for Peak Seasons: Exporters must align shipping schedules with Colombia’s demand cycles, prioritizing Q4 pre-holiday surges and avoiding post-peak lulls like November’s 18% MoM drop.
Frequently Asked Questions
How did Mexico - Colombia trade perform in 2024 Q4?
Mexico exported $772.28M to Colombia and imported $500.54M, with exports surging 38.5% YoY in October but experiencing mixed monthly trends.
What are the top exports from Mexico to Colombia?
The top exports include HS Code 99 (27.99% share), along with machinery/electronics (HS 85, 84) and vehicles (HS 87).
What does Mexico import from Colombia?
Mexico primarily imports HS Code 99 (55.56% share), likely raw materials or agricultural products, alongside oils (HS 15) and chemicals (HS 38).
What is the trade balance between Mexico and Colombia?
Mexico held a trade surplus of $271.74M, with exports outpacing imports by 54.3%, reinforcing its net exporter role.
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