Mexico Top 10 Export Destination Countries in 2024 Q1

Mexico Top Export Destinations and Market Reach in 2024 Q1

• Dominant Market: The U.S. accounts for 80.77% ($116.34B) of Mexico’s exports, solidifying its role as the primary consumption market—not just a transshipment hub.
• Market Dependence: Top 3 partners (U.S., Canada, China) represent 84.8% of total exports, indicating high reliance on a narrow buyer base—a concentration risk.
• Regional vs. Global: Mexico’s export destinations skew heavily regional (U.S. + Canada = 83.41%), with minimal penetration in distant markets like Germany (1.22%) or Japan (0.75%).
• Secondary Markets: Latin American neighbors (Brazil, Colombia, Guatemala) collectively contribute just 1.67%, highlighting untapped regional potential.

Data reflects 2024 Q1 trade flows.

Table: Mexico Top Destination Countries in 2024 Q1 (Source: yTrade)

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Mexico - Key Destination Country Trading Product Pattern

• United States (80.77%): The dominant market for Mexican exports, driven by integrated supply chains in automotive, electronics, and machinery. Proximity and USMCA terms facilitate massive cross-border trade in manufactured goods and agricultural products.
• Canada (2.64%): A key partner under USMCA, with strong imports of Mexican vehicles, machinery, and agricultural goods. Trade benefits from tariff-free access and complementary industrial demand.
• Mainland China (1.39%): Imports Mexican copper, machinery, and automotive parts, feeding its manufacturing sector. Trade balances China's export strength in electronics and industrial goods.
• Germany (1.22%): Buys Mexican automotive components, medical devices, and electronics. German manufacturing and tech sectors rely on Mexico's export capacity for key inputs.
• Japan (0.75%): Sources Mexican auto parts, electronics, and food products. Japanese industry values Mexico’s strategic role in North American supply chains.
• Brazil (0.73%): Imports Mexican vehicles, electronics, and chemicals. Trade links reflect Brazil’s industrial needs and Mexico’s export competitiveness in manufactured goods.

Frequently Asked Questions

Which countries are the top destinations for Mexico's exports in 2024 Q1?

The top 3 destinations are the United States ($116.34B), Canada ($3.81B), and Mainland China ($2.01B).

What is the dominant export market for Mexico?

The United States is the primary buyer, accounting for 80.77% of Mexico's exports in 2024 Q1 with $116.34B in trade.