Top Mexico Exports 2024 Q3: Market Shift

Mexico Export Portfolio Overview in 2024 Q3

• Dominated by automotive (HS 87, 23.16%) and electronics (HS 85, 17.33%), reflecting deep integration into North American manufacturing chains.
• High concentration risk: Top three sectors (vehicles, electronics, machinery) account for 57.6% of total exports, creating vulnerability to regional demand shifts and supply chain disruptions.
• This structure confirms Mexico's role as a critical manufacturing and final assembly hub for US-oriented production, particularly in autos and technology hardware.

Table: Mexico Top Export Product in 2024 Q3 (Source: yTrade)

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Key Driver: Vehicles and Parts (HS 87)

• Dominated by passenger vehicles (HS 8703, $13.46B), representing 37.1% of the sector's exports.
• Product type: Finished goods (assembled vehicles) and intermediate goods (parts under HS 8708), indicating full value-chain integration.
• This dominance stems from Mexico's strategic geographic position, USMCA trade benefits, and mature manufacturing ecosystems attracting major global automakers for export-oriented production.

Table: HS Code 87 Detailed Breakdown

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Key Driver: Electrical Machinery (HS 85)

• Led by insulated wire/cable (HS 8544, $4.58B) and telecommunication devices (HS 8517, $3.71B), together comprising 30.5% of sector exports.
• Acts as a strong complement to automotive dominance, supplying wiring harnesses, electronics, and components for vehicle production and broader industrial use.
• Its strategic importance lies in reinforcing Mexico’s position in intermediate goods manufacturing and supporting nearshoring trends in electronics supply chains.

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, $9.67B), accounting for 36.1% of the sector.
• Functions as a stable legacy sector with growth potential, supplying computers, servers, and hardware components essential for digital infrastructure and industrial automation.
• This reinforces Mexico’s role in mid-to-high-tech manufacturing, diversifying beyond automotive while still serving integrated North American industrial demand.

Table: HS Code 84 Detailed Breakdown

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Frequently Asked Questions

What is Mexico's largest export commodity in 2024 Q3?

The largest export category is Vehicles other than railway or tramway rolling-stock, and parts and accessories thereof (HS 87), valued at $36.28B. This sector is primarily driven by exports of Passenger vehicles (HS 8703), which alone account for $13.46B (37.09%) of the total.

Which specific Vehicles products does Mexico export most in 2024 Q3?

Within the Vehicles (HS 87) sector, the top exports are Passenger vehicles (HS 8703, $13.46B), Parts & accessories (HS 8708, $10.10B), and Goods transport vehicles (HS 8704, $9.15B), which together account for 90.13% of the sector’s total exports.

Does Mexico export Electrical machinery and equipment in 2024 Q3?

Yes. Electrical machinery and equipment (HS 85) is Mexico’s second-largest export sector, valued at $27.16B. The primary driver is Insulated wires/cables (HS 8544), contributing $4.58B (16.85%) to the sector.

What are the main industries driving Mexico's economy?

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

1. Vehicles (HS 87, $36.28B, 23.16%)
2. Electrical machinery (HS 85, $27.16B, 17.33%)
3. Machinery & mechanical appliances (HS 84, $26.82B, 17.12%)
   Together, these account for 57.61% of total exports, indicating a concentrated export 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 verified exporters.