Top Mexico Imports 2024 Q3: Market Shift

Mexico Import Portfolio Overview in 2024 Q3

• Dominated by electrical machinery (HS 85, 21.14%, $34.23B) and industrial machinery (HS 84, 16.09%, $26.05B), reflecting Mexico’s role as a critical manufacturing and assembly hub for North American supply chains.
• High concentration risk: Top two sectors account for 37.23% of imports, indicating deep integration with global electronics and automotive value chains but vulnerability to disruptions in intermediate goods flows.
• This structure aligns with Mexico’s economic identity as a nearshoring destination for US-focused production, relying on imported components for re-export under USMCA frameworks.

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

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Import Key Driver: Electrical Machinery and Equipment

• Primary product: Integrated circuits (HS 8542, $6.94B, 20.27% of sector), a high-value intermediate good essential for electronics manufacturing.
• Product type: Intermediate good—semiconductors and electronic components imported for assembly into finished devices, automotive systems, and communication equipment.
• This dominance exists due to Mexico’s competitive labor costs, proximity to US markets, and specialization in mid-stream manufacturing, though it exposes the economy to global semiconductor supply volatility.

Table: HS Code 85 Detailed Breakdown

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Import Key Driver: Nuclear Reactors, Boilers, and Machinery

• Primary product: Data processing machines (HS 8473, $4.69B, 17.99% of sector), including servers and computing hardware for industrial and commercial use.
• Acts as a complement to electrical machinery imports, supplying the capital goods and automation equipment needed to sustain Mexico’s manufacturing expansion and productivity gains.
• Strategically critical for upgrading industrial capacity and supporting export-oriented sectors like autos and electronics, reinforcing Mexico’s integration into high-value supply chains.

Table: HS Code 84 Detailed Breakdown

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Import Key Driver: Vehicles and Parts

• Primary product: Parts and accessories for vehicles (HS 8708, $8.47B, 57.59% of sector), comprising components for assembly and maintenance of automotive products.
• Role: Stable legacy sector underpinning Mexico’s position as a top auto producer and exporter; parts imports feed both domestic production and re-export pipelines, especially to the US.
• Despite being third in overall rank, this sector’s deep linkages with machinery and electronics highlight Mexico’s dependency on imported inputs to maintain competitive automotive output.

Table: HS Code 87 Detailed Breakdown

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Frequently Asked Questions

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

The largest import category is Electrical machinery and equipment and parts thereof (HS 85), valued at $34.23B. This sector is primarily driven by imports of Integrated circuits (HS 8542), which alone account for $6.94B (20.27% of the sector).

Which specific Electrical machinery products does Mexico import most in 2024 Q3?

Within the Electrical machinery sector, the top imports are Integrated circuits (HS 8542, $6.94B), Telephone sets (HS 8517, $4.37B), and Electrical apparatus for switching or protecting circuits (HS 8536, $2.28B), which together account for 39.69% of the sector.

Does Mexico import Nuclear reactors, boilers, and machinery in 2024 Q3?

Yes. Nuclear reactors, boilers, and machinery (HS 84) is Mexico’s second-largest import sector, valued at $26.05B. The primary driver is Data processing machines (HS 8473), which accounts for $4.69B (17.99% of the sector).

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, $34.23B)
2. Nuclear reactors & machinery (HS 84, $26.05B)
3. Vehicles & parts (HS 87, $14.71B)

Together, these account for 58.31% of total imports, indicating a concentrated reliance on manufacturing inputs.

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 for $34.23B worth of imports.