Mexico - Japan Trade 2023 Q2: Tech Imports Dominate
Key Market Takeaways: Mexico - Japan Trade
The bilateral trade relationship between Mexico and Japan reflects heavy reliance on Japanese imports amid volatile export performance in Q2 2023.
- $6.5B total trade volume skewed toward a $4.33B deficit for Mexico, with imports ($5.41B) dwarfing exports ($1.08B) despite mixed YoY growth.
- Resource-for-Tech exchange: Mexico - Japan trade statistics show raw materials (HS 26, 02) and agricultural goods flow east, while high-tech machinery (HS 85, 84) and vehicles (HS 87) dominate imports.
- Asymmetric interdependence: Japan holds the value-chain high ground, supplying critical industrial inputs while Mexico’s export basket lacks diversification.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Mexico-Japan Trade Trend in Q2 2023
Mexico Export Performance: Shipments to Japan
- Total Volume: $1.08B in Q2 2023.
- Growth Trend & Context: YoY growth was mixed, with April up 9.57% but May and June down 25.53% and 15.2%, respectively. No specific trade news explains the volatility.
- Key Volatility: May saw a sharp 23.0% MoM drop, while June rebounded with 14.46% MoM growth.
Mexico Import Performance: Sourcing from Japan
- Total Volume: $5.41B in Q2 2023.
- Growth Trend & Context: YoY growth remained positive, averaging 15.92% across the quarter, despite a 7.69% MoM dip in June.
- Key Volatility: May posted the highest MoM surge at 24.94%, while April saw a 19.79% contraction.
Mexico - Japan Trade Balance & Market Dynamics
- Net Position: Mexico ran a trade deficit of $4.33B (Imports $5.41B - Exports $1.08B).
- Relationship Status: Heavy reliance on Japanese imports, with exports failing to offset the imbalance.
Mexico Import Trend from Japan 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 1.59B | -19.79% | 8.74% |
| May | 1.99B | 24.94% | 25.69% |
| Jun | 1.83B | -7.69% | 13.32% |
| Total | 5.41B | - | - |
Mexico Export Trend to Japan 2023 Q2 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Apr | 406.46M | 13.09% | 9.57% |
| May | 312.98M | -23.0% | -25.53% |
| Jun | 358.24M | 14.46% | -15.2% |
| Total | 1.08B | - | - |
Get Historical Mexico Japan Trade Records
Mexico-Japan Top Trading Products in Q2 2023
Mexico Export Profile: What Does Mexico Sell to Japan
- Top Commodity: Rank #1 export is HS Code 99 (36.40% share), likely representing unclassified or special category goods.
- Demand Driver: Japan imports a mix of raw materials (HS 26, 02) and consumer goods (HS 02, 20). The high share of HS 99 suggests potential re-exports or niche products.
- Concentration: The top export (HS 99) holds 36.40% share, indicating moderate concentration but not dominance (>50%).
Mexico Import Profile: What Does Mexico Buy from Japan
- Top Commodity: Rank #1 import is HS Code 85 (21.53% share), covering electrical machinery and equipment.
- Dependency Nature: Imports are dominated by high-tech (HS 85, 84) and automotive (HS 87) goods, signaling critical technology dependency for industrial and manufacturing sectors.
Mexico - Japan Trade Relationship Dynamics
- The Exchange Model: Resource-for-Tech Complementarity. Mexico supplies raw materials (HS 26, 02) and agricultural goods (HS 08, 07), while Japan exports machinery (HS 85, 84) and vehicles (HS 87).
- Value Chain Position: Japan holds the higher value-add position, with complex exports (machinery, electronics) versus Mexico’s simpler commodity exports.
Import Analysis by Product: Japan to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 85 | 1.17B | 21.53% |
| 87 | 1.04B | 19.20% |
| 84 | 841.95M | 15.55% |
| 99 | 669.01M | 12.36% |
| 72 | 614.93M | 11.36% |
| 27 | 189.76M | 3.51% |
| 90 | 186.58M | 3.45% |
| 39 | 179.76M | 3.32% |
| 73 | 105.57M | 1.95% |
| 82 | 96.36M | 1.78% |
Export Analysis by Product: Mexico to Japan (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 392.29M | 36.40% |
| 02 | 184.96M | 17.16% |
| 87 | 124.72M | 11.57% |
| 26 | 105.73M | 9.81% |
| 85 | 93.77M | 8.70% |
| 84 | 77.76M | 7.22% |
| 08 | 39.49M | 3.66% |
| 20 | 14.03M | 1.30% |
| 07 | 13.43M | 1.25% |
| 90 | 7.30M | 0.68% |
Check Detailed Mexico-Japan Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
The Mexico-Japan trade relationship is expected to remain volatile in the near term, with Mexico’s trade deficit likely to persist. Japan’s steady demand for Mexican raw materials and agricultural goods may stabilize exports, but the sharp YoY declines in Q2 2023 suggest exporters must prepare for fluctuating demand. Meanwhile, Mexico’s reliance on Japanese high-tech imports will continue, driven by industrial needs. Without export diversification or value-added upgrades, the deficit could widen further.
Strategic Moves
- Diversify Export Offerings: Mexican exporters should reduce dependence on unclassified goods (HS 99) by expanding into higher-value segments like processed foods (HS 20) or automotive components (HS 87), where Japan has demand.
- Lock in Tech Imports Strategically: Mexican manufacturers dependent on Japanese machinery (HS 85, 84) should negotiate long-term supply contracts to mitigate price volatility and potential shortages.
- Leverage Trade Agreements: Both nations should accelerate talks under the CPTPP to reduce tariffs on key exports, particularly Mexico’s agricultural goods, to rebalance the trade deficit.
Frequently Asked Questions
How did Mexico - Japan trade perform in 2023 Q2?
Mexico's exports to Japan totaled $1.08B with mixed YoY growth, while imports from Japan reached $5.41B, showing a 15.92% YoY average growth.
What are the top exports from Mexico to Japan?
Mexico's top export to Japan is HS Code 99 (36.40% share), likely unclassified or niche goods, followed by raw materials (HS 26, 02) and consumer goods (HS 02, 20).
What does Mexico import from Japan?
Mexico primarily imports high-tech goods like electrical machinery (HS 85, 21.53% share) and automotive products (HS 87), reflecting a dependency on Japanese industrial technology.
What is the trade balance between Mexico and Japan?
Mexico recorded a trade deficit of $4.33B with Japan in Q2 2023, driven by heavy reliance on Japanese imports exceeding export volumes.
Mexico Japan Trade 2023 Q1
---

title: "Mexico - Japan Trade 2023 Q1: Tech for Resources Gap"
description: "Mexico's $4.24B deficit with Japan highlights a tech-for-resources trade trend. yTrade data shows Japan dominates with machinery imports while Mexico exports raw materials."
image: https://io.ytrade.com/ytrade-blog/Cover/mexico-data/mexico-japan-trade-2023-q1.webp
create_date: 2023-04-01
update_date: 2023-04-01
author: yTrade
slug: mexico-japan-trade-2023-q1
category: Import and Export Data
category_slug: import-and-export-data
sub_category: Country Trade Reports
sub_category_slug: country-trade-reports
tags:
- id: 7
  label: "Import Export Data"
  slug: import-export-data
- id: 12
  label: "Mexico"
  slug: mexico
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  lastmod: 2023-04-01
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ogTitle: "Mexico - Japan Trade 2023 Q1: Tech for Resources Gap"
ogDescription: "Mexico's $4.24B deficit with Japan highlights a tech-for-resources trade trend. yTrade data shows Japan dominates with machinery imports while Mexico exports raw materials."
ogImage: https://io.ytrade.com/ytrade-blog/Cover/mexico-data/mexico-japan-trade-2023-q1.webp
twitterCard: summary
twitterSite:
twitterTitle: "Mexico - Japan Trade 2023 Q1: Tech for Resources Gap"
twitterDescription: "Mexico's $4.24B deficit with Japan highlights a tech-for-resources trade trend. yTrade data shows Japan dominates with machinery imports while Mexico exports raw materials."
twitterImage: https://io.ytrade.com/ytrade-blog/Cover/mexico-data/mexico-japan-trade-2023-q1.webp
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---

## Key Market Takeaways: Mexico - Japan Trade  

The bilateral trade relationship between **Mexico** and **Japan** reflects a structural dependency with volatile demand shifts in Q1 2023.  

- **$5.15B imports dwarf $906.73M exports**, creating a **$4.24B deficit** for Mexico. Growth was uneven—exports fell YoY while imports surged.  
- **Mexico - Japan trade statistics** show a **resource-for-tech exchange**: raw materials (HS 26, 02) flow to Japan, while high-tech machinery (HS 85, 84) dominates imports.  
- **Asymmetric interdependence** defines the partnership, with Japan holding the high-value position in supply chains.  

This bilateral trade snapshot is based on verified customs data from the [yTrade database](https://ytrade.com/data-sources).

## Mexico-Japan Trade Trend in Q1 2023

### Mexico Export Performance: Shipments to Japan
- **Total Volume:** $906.73M in Q1 2023.  
- **Growth Trend & Context:** YoY declines in February (-16.99%) and March (-21.18%) offset a strong January (+20.2%), suggesting weakening demand or competitive shifts. No news context provided to explain the downturn.  
- **Key Volatility:** March saw a sharp 30.28% MoM surge, though still down YoY, indicating potential short-term order volatility.  

### Mexico Import Performance: Sourcing from Japan  
- **Total Volume:** $5.15B in Q1 2023.  
- **Growth Trend & Context:** Strong YoY growth in January (+30.62%) and March (+21.53%) drove imports, despite a flat February (+2.87%). No news context to explain fluctuations.  
- **Key Volatility:** March imports spiked 29.6% MoM, likely reflecting supply chain catch-up or preemptive ordering.  

### Mexico - Japan Trade Balance & Market Dynamics  
- **Net Position:** Mexico ran a **trade deficit of $4.24B** (Imports $5.15B > Exports $906.73M).  
- **Relationship Status:** Heavy reliance on Japanese imports, with exports failing to offset the imbalance. Structural dependency evident in the 5.7:1 import-to-export ratio.

### Mexico Import Trend from Japan 2023 Q1 (Source: yTrade)**

| Month | Value | MoM | YoY |
|-------|-------|-----|-----|
| Jan | 1.63B | 4.44% | 30.62% |
| Feb | 1.53B | -6.22% | 2.87% |
| Mar | 1.98B | 29.6% | 21.53% |
| **Total** | **5.15B** | - | - |

### Mexico Export Trend to Japan 2023 Q1 (Source: yTrade)**

| Month | Value | MoM | YoY |
|-------|-------|-----|-----|
| Jan | 271.44M | -27.57% | 20.2% |
| Feb | 275.88M | 1.64% | -16.99% |
| Mar | 359.41M | 30.28% | -21.18% |
| **Total** | **906.73M** | - | - |

[Get Historical Mexico Japan Trade Records](https://ytrade.com/country-coverage)

## Mexico-Japan Top Trading Products in Q1 2023

### Mexico Export Profile: What Does Mexico Sell to Japan  
- **Top Commodity:** Rank #1 export is HS Code 99 (36.34% share). This likely represents unclassified or special category goods, often used in bilateral trade for specific agreements.  
- **Demand Driver:** Japan imports raw materials (HS 02, 26, 08) for industrial processing, alongside machinery (HS 84, 85) and vehicles (HS 87) for supply chain integration.  
- **Concentration:** Trade is highly concentrated, with HS 99 alone accounting for over 36% of exports.  

### Mexico Import Profile: What Does Mexico Buy from Japan  
- **Top Commodity:** Rank #1 import is HS Code 85 (22.37% share), covering electrical machinery and equipment.  
- **Dependency Nature:** Dominated by high-tech (HS 85, 84, 90) and automotive (HS 87) imports, indicating critical technology dependency for Mexico’s manufacturing sector.  

### Mexico - Japan Trade Relationship Dynamics  
- **The Exchange Model:** **Resource-for-Tech Complementarity.** Mexico supplies raw materials (e.g., minerals HS 26, agricultural HS 02) and receives advanced machinery/electronics from Japan.  
- **Value Chain Position:** Japan holds the higher value-add position, exporting complex goods (HS 85, 84, 87) while Mexico’s exports skew toward raw materials and intermediate products.

### Import Analysis by Product: Japan to Mexico (Source: yTrade)

| HS Code | Value | Percent |
| --- | --- | --- |
| 85 | 1.15B | 22.37% |
| 87 | 966.16M | 18.78% |
| 84 | 833.07M | 16.19% |
| 99 | 781.16M | 15.18% |
| 72 | 351.78M | 6.84% |
| 27 | 212.16M | 4.12% |
| 90 | 195.36M | 3.80% |
| 39 | 172.98M | 3.36% |
| 73 | 106.19M | 2.06% |
| 40 | 82.30M | 1.60% |

### Export Analysis by Product: Mexico to Japan (Source: yTrade)

| HS Code | Value | Percent |
| --- | --- | --- |
| 99 | 329.54M | 36.34% |
| 02 | 150.91M | 16.64% |
| 85 | 91.55M | 10.10% |
| 84 | 89.20M | 9.84% |
| 26 | 78.96M | 8.71% |
| 87 | 70.54M | 7.78% |
| 08 | 43.27M | 4.77% |
| 22 | 13.28M | 1.46% |
| 74 | 10.67M | 1.18% |
| 90 | 7.81M | 0.86% |

[Check Detailed Mexico-Japan Trade HS Code Breakdown](https://ytrade.com/hs-code-coverage)

## Future Outlook & Strategic Recommendations  

### Forecast for Mexico-Japan Trade  
The Mexico-Japan trade relationship is likely to remain imbalanced in the near term, with Japan maintaining its dominance in high-value exports (HS 85, 84, 87) while Mexico’s shipments stay concentrated in raw materials (HS 26, 02) and unclassified goods (HS 99). The sharp YoY declines in Mexico’s Q1 2023 exports suggest weakening demand or competitive pressures, while Japan’s import growth signals sustained reliance on Mexican inputs. Without structural shifts, Mexico’s trade deficit with Japan could widen further, especially if supply chain volatility persists.  

### Strategic Moves for Traders & Policymakers  
- **Diversify Export Composition:** Mexican exporters must reduce reliance on HS 99 (unclassified goods) and expand into higher-value segments like automotive components (HS 87) or electronics (HS 85) to capture more Japanese demand.  
- **Secure Long-Term Tech Supply Contracts:** Given Japan’s dominance in critical machinery imports (HS 85, 84), Mexican manufacturers should lock in favorable terms with Japanese suppliers to mitigate price fluctuations.  
- **Monitor Competitive Threats:** The YoY export declines (-16.99% in February, -21.18% in March) suggest rising competition in Japan’s raw materials market. Mexican producers must benchmark pricing and quality against regional rivals like Australia or Chile.

## Frequently Asked Questions

### How did Mexico - Japan trade perform in 2023 Q1?  
Mexico's exports to Japan totaled $906.73M, with mixed YoY growth, while imports from Japan surged to $5.15B, resulting in a $4.24B trade deficit for Mexico.

### What are the top exports from Mexico to Japan?  
Mexico's top export to Japan is HS Code 99 (unclassified/special category goods), accounting for 36.34% of shipments, followed by raw materials (HS 02, 26, 08) and machinery/vehicles (HS 84, 85, 87).

### What does Mexico import from Japan?  
Mexico primarily imports high-tech goods like electrical machinery (HS 85, 22.37% share), industrial machinery (HS 84), and automotive products (HS 87) from Japan.

### What is the trade balance between Mexico and Japan?  
Mexico ran a trade deficit of $4.24B with Japan in Q1 2023, driven by a 5.7:1 import-to-export ratio, reflecting heavy reliance on Japanese technology and manufacturing inputs.
Mexico - Japan Trade 2023 Q3: Tech Imports Dominate
Mexico's Japan trade trend reveals a $4.23B deficit, with tech imports like machinery (22%) leading. Explore Mexico Japan top trading product insights via yTrade data.
