Top Mexico Exports 2023 Q2: Market Shift

Mexico Export Portfolio Overview in 2023 Q2

• Vehicles and parts (HS 87) and electrical machinery (HS 85) dominate, accounting for 21.94% and 16.52% of total exports respectively.
• High concentration risk: top three sectors (vehicles, electrical, and general machinery) represent over 53% of export value, heavily exposed to North American industrial demand cycles.
• This structure confirms Mexico’s role as a critical manufacturing and final assembly hub within continental supply chains, especially for automotive and electronics.

Table: Mexico Top Export Product in 2023 Q2 (Source: yTrade)

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Key Driver: Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof

• Dominant product: Passenger vehicles (HS 8703), valued at $10.97B, representing 33.13% of the sector.
• Product type: Finished goods (assembled vehicles) and intermediate goods (parts under HS 8708).
• Mexico’s automotive strength stems from integrated cross-border production networks, competitive labor, and tariff advantages under USMCA, positioning it as a primary exporter of both complete units and components to the U.S. market.

Table: HS Code 87 Detailed Breakdown

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Key Driver: Electrical machinery and equipment and parts thereof

• Leading product: Insulated wire and cable (HS 8544), valued at $4.53B, accounting for 18.18% of the sector.
• Acts as a complement to automotive and machinery exports, supplying essential components for vehicle electrification, industrial automation, and consumer electronics.
• Strategic importance: reinforces Mexico’s role in mid-to-high value electrical supply chains, benefiting from proximity to U.S. tech and automotive manufacturing bases.

Table: HS Code 85 Detailed Breakdown

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Key Driver: Nuclear reactors, boilers, machinery and mechanical appliances

• Primary product: Automatic data processing machines (HS 8471), valued at $8.21B, making up 35.72% of the sector.
• Role: stable legacy sector with growth in computing and industrial equipment, supporting both export diversification and internal manufacturing efficiency.
• Indicates deepening integration into high-value machinery production and assembly, reducing reliance on purely commodity-driven exports.

Table: HS Code 84 Detailed Breakdown

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Frequently Asked Questions

What is Mexico's largest export commodity in 2023 Q2?

The largest export category is Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof (HS 87), valued at $33.11B. This sector is primarily driven by exports of Motor cars and other motor vehicles principally designed for the transport of persons (HS 8703), which alone accounted for $10.97B (33.13%).

Which specific Vehicles products does Mexico export most in 2023 Q2?

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

1. Motor cars and other motor vehicles principally designed for the transport of persons (HS 8703) at $10.97B.
2. Parts and accessories for vehicles (HS 8708) at $10.29B.
   Together, these two products make up 64.22% of Mexico’s total vehicle exports.

Does Mexico export Electrical machinery and equipment in 2023 Q2?

Yes. Electrical machinery and equipment (HS 85) is Mexico’s second-largest export sector, valued at $24.93B. The top product in this category is Insulated wire, cable, and related products (HS 8544), contributing $4.53B (18.18%).

What are the main industries driving Mexico's economy?

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

1. Vehicles (HS 87) at $33.11B (21.94%).
2. Electrical machinery (HS 85) at $24.93B (16.52%).
3. Machinery and mechanical appliances (HS 84) at $22.98B (15.23%).
   Together, these industries account for 53.69% of total exports, indicating a concentrated structure.

How to find Mexico Vehicles 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 businesses importing Mexican automotive products.