Top Mexico Imports 2024 Q2: Market Shift

Mexico Import Portfolio Overview in 2024 Q2

• Electrical machinery (HS 85) and nuclear reactors/machinery (HS 84) dominate, accounting for 36.4% of total imports.
• Concentration risk is high, with the top three sectors (HS 85, 84, and 99) representing over 51% of import value.
• This reflects Mexico's deep integration into North American manufacturing supply chains, particularly automotive and electronics.

Table: Mexico Top Import Product in 2024 Q2 (Source: yTrade)

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Import Key Driver: Electrical Machinery and Equipment

• HS 8542 (electronic integrated circuits) is the primary driver, representing 20.1% of the sector's value.
• These are intermediate goods, essential for electronics assembly and re-export.
• Dominance is driven by Mexico's role as a manufacturing hub, leveraging cost-effective labor and proximity to US markets for just-in-time production.

Table: HS Code 85 Detailed Breakdown

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Import Key Driver: Nuclear Reactors, Boilers, Machinery

• HS 8473 (parts for office machines and automatic data processors) leads with 14.5% of sector value.
• This sector complements electrical machinery imports, supplying critical components for industrial and tech manufacturing.
• Its strategic importance lies in supporting Mexico's export-oriented manufacturing base, particularly in automotive and electronics.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Vehicles and Parts

• HS 8708 (parts and accessories for vehicles) is the core product, making up 59.6% of the sector.
• These are intermediate goods, fueling Mexico's position as a major auto parts producer and vehicle exporter.
• This is a stable legacy sector, underpinned by established trade agreements and integrated supply chains with the US and Canada.

Table: HS Code 87 Detailed Breakdown

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Frequently Asked Questions

What is Mexico's largest import commodity in 2024 Q2?

The largest import category is Electrical machinery and equipment and parts thereof (HS 85), valued at $31.50B. This sector is primarily driven by imports of Integrated Circuits (HS 8542), which alone account for 20.05% of the category's total value.

Which specific Electrical machinery products does Mexico import most in 2024 Q2?

Within the Electrical machinery sector, the top imports are Integrated Circuits (HS 8542, $6.32B), Telephone Sets (HS 8517, $3.95B), and Electrical Apparatus for Switching or Protecting Circuits (HS 8536, $2.18B), which together account for 39.52% of the category's imports.

Does Mexico import Nuclear reactors, boilers, and machinery in 2024 Q2?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is the second-largest import sector, valued at $26.26B. The primary driver is Data Processing Machines (HS 8473), which makes up 14.52% of the category's imports.

What are the main industries driving Mexico's economy?

Mexico's import economy is heavily reliant on three key sectors:

1. Electrical machinery (HS 85, $31.50B)
2. Nuclear reactors and machinery (HS 84, $26.26B)
3. Vehicles and parts (HS 87, $15.63B)

How to find Mexico Electrical machinery buyers?

You can access a list of active overseas buyers and importers for Electrical machinery (HS 85) using the yTrade database, which provides detailed shipment records and company contacts.