Mexico - Malaysia Trade 2024 Q3: Surging Deficit & Machinery Dominance

Key Market Takeaways: Mexico - Malaysia Trade

The bilateral trade relationship between Mexico and Malaysia is marked by heavy reliance on Malaysian imports and volatile growth in Q3 2024.

• Economic Pulse: Mexico runs a -$3.69B trade deficit with Malaysia (exports: $165.69M, imports: $3.86B), driven by surging imports (+33.41% YoY peak) and mixed export performance.
• Exchange Structure: Bilateral trade data reveals intra-industry trade, with both nations heavily exchanging electrical machinery (HS 85)—69.9% of Mexico’s imports and 63.1% of its exports.
• Strategic Interdependence: Malaysia holds a higher value-add position in machinery trade, while Mexico’s exports remain narrowly concentrated, signaling asymmetric dependency.

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

Mexico-Malaysia Trade Trend in Q3 2024

Mexico Export Performance: Shipments to Malaysia

• Total Volume: $165.69M in Q3 2024.
• Growth Trend & Context:
  • YoY growth was mixed, with July up 46.33% but August down -6.96%, before rebounding to +9.99% in September.
  • No specific trade news to explain fluctuations.
• Key Volatility: July saw the highest MoM surge (+25.91%), while September growth moderated to +7.8%.

Mexico Import Performance: Sourcing from Malaysia

• Total Volume: $3.86B in Q3 2024.
• Growth Trend & Context:
  • Strong YoY growth overall (+33.41% in July, +25.39% in August, +46.78% in September).
  • No news to contextualize the surge.
• Key Volatility: September recorded the steepest MoM drop (-6.85%) after August’s +3.38% rise.

Mexico - Malaysia Trade Balance & Market Dynamics

• Net Position: Mexico ran a trade deficit of -$3.69B (Exports $165.69M vs. Imports $3.86B).
• Relationship Status: Heavy reliance on Malaysian imports, with exports playing a marginal role.

Mexico Import Trend from Malaysia 2024 Q3 (Source: yTrade)**

Mexico Export Trend to Malaysia 2024 Q3 (Source: yTrade)**

Get Historical Mexico Malaysia Trade Records

Mexico-Malaysia Top Trading Products in Q3 2024

Mexico Export Profile: What Does Mexico Sell to Malaysia

• Top Commodity: Electrical machinery (HS 85) dominates at 63.11% of exports.
• Demand Driver: Malaysia likely uses these for industrial processing, given the high share of machinery and intermediate goods (HS 76, 84, 74).
• Concentration: Trade is highly concentrated, with HS 85 alone accounting for over 60% of exports.

Mexico Import Profile: What Does Mexico Buy from Malaysia

• Top Commodity: Electrical machinery (HS 85) is also the top import, making up 69.90% of imports.
• Dependency Nature: Critical technology dependency, as HS 85 and HS 84 (machinery) combined account for over 80% of imports.

Mexico - Malaysia Trade Relationship Dynamics

• The Exchange Model: Intra-Industry Trade, with both sides heavily exchanging electrical machinery (HS 85) and related components (HS 84, 76).
• Value Chain Position: Malaysia holds a slightly higher value-add position, given its larger export value in HS 85 and broader machinery exports (HS 84). Mexico’s exports are more concentrated in a single category.

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

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

Check Detailed Mexico-Malaysia Trade HS Code Breakdown

Future Outlook & Strategic Recommendations

Forecast

The Mexico-Malaysia trade relationship is poised for continued growth in Q4 2024, driven by sustained demand for electrical machinery (HS 85) and related components. While Mexico’s exports to Malaysia show volatility, the strong YoY import growth from Malaysia signals deepening supply chain integration. However, the widening trade deficit (-$3.69B) demands strategic adjustments to rebalance the exchange. Expect Malaysia to maintain its value-add advantage in machinery exports, while Mexico must diversify its export basket to reduce reliance on a single commodity.

Strategic Moves

• Diversify Export Offerings: Mexican exporters should expand beyond HS 85 by targeting niche sectors like automotive parts (HS 87) or medical equipment (HS 90) to capture untapped demand in Malaysia.
• Secure Long-Term Supplier Contracts: Given Malaysia’s dominance in critical tech imports, Mexican manufacturers must lock in stable pricing and supply terms for HS 85 and HS 84 components to mitigate future volatility.
• Optimize Logistics for Intra-Industry Trade: Both nations should streamline cross-border shipping and customs processes for machinery parts to reduce lead times and costs, leveraging their complementary supply chain roles.

Traders must act now to capitalize on growth while addressing structural imbalances.

Frequently Asked Questions

How did Mexico - Malaysia trade perform in 2024 Q3?

Mexico's exports to Malaysia totaled $165.69M, with mixed YoY growth, while imports from Malaysia surged to $3.86B, showing strong YoY increases across all months.

What are the top exports from Mexico to Malaysia?

Electrical machinery (HS 85) dominates Mexico's exports to Malaysia, accounting for 63.11% of total shipments, followed by other machinery and intermediate goods (HS 76, 84, 74).

What does Mexico import from Malaysia?

Mexico primarily imports electrical machinery (HS 85) from Malaysia, making up 69.90% of total imports, with machinery (HS 84) also being a significant category.

What is the trade balance between Mexico and Malaysia?

Mexico recorded a trade deficit of -$3.69B with Malaysia in Q3 2024, driven by heavy reliance on Malaysian imports compared to its smaller export volume.