Top Mexico Exports 2023 Q4: Manufacturing Dominance

Mexico Export Portfolio Overview in 2023 Q4

• Vehicle exports (HS 87) dominate at 23.68% of total value, followed by electrical machinery (HS 85) at 16.41%.
• Concentration risk is high; the top three sectors (HS 87, 85, and 84) account for over 54% of total exports, heavily exposing Mexico to global auto and electronics demand cycles.
• This structure confirms Mexico's economic identity as a tightly integrated manufacturing hub within North American supply chains, primarily for complex goods.

Table: Mexico Top Export Product in 2023 Q4 (Source: yTrade)

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

• The sector is driven by exports of passenger vehicles (HS 8703), valued at $13.14B and constituting 36.63% of the category.
• This is a finished good, indicating Mexico's role extends beyond assembly to final production for export markets.
• Dominance exists due to deep integration with US auto manufacturing, competitive labor costs, and mature logistics networks under USMCA frameworks.

Table: HS Code 87 Detailed Breakdown

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Key Driver: Electrical machinery and equipment and parts thereof

• The sector is led by insulated wire and cable (HS 8544), valued at $4.35B and making up 17.49% of the category.
• It acts as a direct complement to vehicle manufacturing, supplying essential components for automotive electronics and broader industrial use.
• Its strategic importance lies in supplying the continental electronics and auto sectors, reinforcing supply chain resilience against overseas disruptions.

Table: HS Code 85 Detailed Breakdown

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

• The sector is powered by automatic data processing machines (HS 8471), valued at $6.76B and accounting for 32.15% of the category.
• This represents a stable legacy of Mexico's industrial base, supporting both manufacturing output and export diversification.
• Its role is foundational, providing machinery essential for production across other top export sectors like vehicles and electronics.

Table: HS Code 84 Detailed Breakdown

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Frequently Asked Questions

What is Mexico's largest export commodity in 2023 Q4?

The largest export category is Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof (HS 87), valued at $35.88B. 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 $13.14B (36.63%).

Which specific Vehicles products does Mexico export most in 2023 Q4?

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

1. Motor cars (HS 8703) at $13.14B (36.63%),
2. Parts and accessories for vehicles (HS 8708) at $9.94B (27.69%), and
3. Motor vehicles for goods transport (HS 8704) at $8.70B (24.25%).

Does Mexico export Electrical machinery and equipment in 2023 Q4?

Yes. Electrical machinery and equipment (HS 85) is Mexico’s second-largest export sector, valued at $24.86B. The top product in this category is Insulated wire, cable, and conductors (HS 8544), contributing $4.35B (17.49%).

What are the main industries driving Mexico's economy?

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

1. Vehicles (HS 87): $35.88B (23.68%),
2. Electrical machinery (HS 85): $24.86B (16.41%),
3. Nuclear reactors & machinery (HS 84): $21.02B (13.88%).
   Together, these account for over 50% of exports, indicating a concentrated trade 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.