Top Mexico Exports 2023 Q1: Market Dominance

Mexico Export Portfolio Overview in 2023 Q1

• Vehicles (HS 87) and electrical machinery (HS 85) dominate, accounting for 38.75% of total exports.
• Concentration risk is high, with top three sectors (HS 87, 85, 84) representing over 54% of exports.
• This reflects Mexico’s entrenched role as a manufacturing hub within North American integrated supply chains, particularly for automotive and electronics.

Table: Mexico Top Export Product in 2023 Q1 (Source: yTrade)

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Key Driver: Vehicles and Parts (HS 87)

• Dominated by passenger vehicles (HS 8703, $10.59B) and parts/accessories (HS 8708, $9.50B).
• Product type is overwhelmingly finished and intermediate goods, not raw materials.
• Strength stems from deep integration with US auto manufacturing, cost-competitive skilled labor, and proximity-driven logistics advantages under USMCA.

Table: HS Code 87 Detailed Breakdown

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Key Driver: Electrical Machinery (HS 85)

• Led by insulated wire/cable (HS 8544, $4.24B) and telephones (HS 8517, $3.44B).
• Acts as a complement to automotive exports, supplying components for modern vehicle electronics and consumer goods.
• Strategically critical for nearshoring trends as firms diversify electronics sourcing away from Asia.

Table: HS Code 85 Detailed Breakdown

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Key Driver: Nuclear Reactors and Machinery (HS 84)

• Driven by automatic data processing machines (HS 8471, $8.06B), indicating computing hardware assembly.
• Represents a stable legacy sector with growth potential, supporting both industrial and tech export streams.
• Reinforces Mexico’s role in mid-to-high-tech manufacturing, beyond pure assembly, with value-added production.

Table: HS Code 84 Detailed Breakdown

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Frequently Asked Questions

What is Mexico's largest export commodity in 2023 Q1?

The largest export category is Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof (HS 87), valued at $31.53B. This sector is primarily driven by exports of Motor cars and other motor vehicles principally designed for the transport of persons (HS 8703), which accounted for $10.59B (33.57%) of the total.

Which specific Vehicles products does Mexico export most in 2023 Q1?

Within the Vehicles (HS 87) sector, the top exports are:

1. Motor cars and other motor vehicles (HS 8703) - $10.59B (33.57%)
2. Parts and accessories for vehicles (HS 8708) - $9.50B (30.13%)
3. Motor vehicles for goods transport (HS 8704) - $7.51B (23.82%)

Does Mexico export Electrical machinery and equipment in 2023 Q1?

Yes. Electrical machinery and equipment (HS 85) is Mexico’s second-largest export sector, valued at $23.13B. The primary driver is Insulated wire, cable, and related products (HS 8544), which contributed $4.24B (18.31%).

What are the main industries driving Mexico's economy?

Mexico’s economy is heavily reliant on three key sectors:

1. Vehicles (HS 87) - $31.53B (22.35%)
2. Electrical machinery (HS 85) - $23.13B (16.40%)
3. Machinery and mechanical appliances (HS 84) - $21.03B (14.91%)
   Together, these industries account for 53.66% of total exports, indicating a concentrated export structure.

How to find Mexico Vehicles (HS 87) suppliers?

You can access a list of active suppliers and exporters for Vehicles (HS 87) using the yTrade database, which provides detailed shipment records and company contacts for verified exporters.