Mexico - United Kingdom Trade 2024 Q3: $143M Surplus & Tech Dependence
Key Market Takeaways: Mexico - United Kingdom Trade
The bilateral trade relationship between Mexico and United Kingdom shows robust growth with volatile monthly swings in Q3 2024.
- Mexico holds a $143M trade surplus, with exports ($814.94M) outpacing imports ($671.70M) by 21.3%, driven by strong YoY demand for Mexican goods.
- Trade statistics reveal extreme concentration: HS Code 99 dominates 82.7% of Mexico’s exports to the UK, while imports are more diversified, including machinery and tech (HS 84, 85, 90), signaling intra-industry trade with asymmetric value-add.
- Strategic interdependence is lopsided: Mexico relies on UK high-tech inputs, while the UK depends heavily on a single Mexican commodity, creating vulnerability for both sides.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Mexico-United Kingdom Trade Trend in Q3 2024
Mexico Export Performance: Shipments to United Kingdom
- Total Volume: $814.94M in Q3 2024.
- Growth Trend & Context:
- Exports surged YoY in July (+58.5%) and maintained strong growth in August (+32.33%) and September (+22.48%), indicating sustained demand.
- Key Volatility: August saw a sharp MoM spike (+23.04%), while September corrected (-9.61%).
Mexico Import Performance: Sourcing from United Kingdom
- Total Volume: $671.70M in Q3 2024.
- Growth Trend & Context:
- Imports were mixed YoY: July (+1.77%), August (-25.15%), and September (+5.51%), reflecting inconsistent procurement.
- Key Volatility: August recorded the steepest MoM drop (-6.14%), followed by a rebound in September (+11.17%).
Mexico - United Kingdom Trade Balance & Market Dynamics
- Net Position: Mexico holds a trade surplus of $143.24M ($814.94M exports vs. $671.70M imports).
- Relationship Status: Mexico is a net exporter to the UK, with exports outpacing imports by 21.3% in Q3. Demand for Mexican goods remains robust.
Mexico Import Trend from United Kingdom 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 225.25M | 16.39% | 1.77% |
| Aug | 211.42M | -6.14% | -25.15% |
| Sep | 235.03M | 11.17% | 5.51% |
| Total | 671.70M | - | - |
Mexico Export Trend to United Kingdom 2024 Q3 (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jul | 243.81M | -13.64% | 58.5% |
| Aug | 299.99M | 23.04% | 32.33% |
| Sep | 271.14M | -9.61% | 22.48% |
| Total | 814.94M | - | - |
Get Historical Mexico United Kingdom Trade Records
Mexico-United Kingdom Top Trading Products in Q3 2024
Mexico Export Profile: What Does Mexico Sell to United Kingdom
- Top Commodity: HS Code 99 dominates exports, accounting for 82.70% of total value (673.98M).
- Demand Driver: The overwhelming share of HS Code 99 suggests United Kingdom relies on Mexico for a specific high-volume commodity, likely serving industrial or consumer markets.
- Concentration: Extreme concentration—HS Code 99 alone represents over 80% of exports, indicating a lopsided trade structure.
Mexico Import Profile: What Does Mexico Buy from United Kingdom
- Top Commodity: HS Code 99 is also the top import (227.22M, 33.83%), mirroring the export pattern but with lower dominance.
- Dependency Nature: The presence of machinery (HS 84, 85) and tech (HS 90) in imports points to critical technology inputs for Mexico’s industrial base.
Mexico - United Kingdom Trade Relationship Dynamics
- The Exchange Model: Intra-Industry Trade—both sides heavily trade HS Code 99, suggesting a two-way flow of similar goods, likely within a specialized supply chain.
- Value Chain Position: United Kingdom holds the edge in higher-value categories (e.g., machinery, tech), while Mexico’s exports are hyper-concentrated in a single commodity, indicating asymmetry in value-add.
Import Analysis by Product: United Kingdom to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 227.22M | 33.83% |
| 84 | 122.41M | 18.22% |
| 87 | 56.73M | 8.45% |
| 90 | 49.89M | 7.43% |
| 85 | 39.81M | 5.93% |
| 22 | 32.54M | 4.84% |
| 39 | 25.80M | 3.84% |
| 38 | 23.72M | 3.53% |
| 30 | 12.42M | 1.85% |
| 32 | 10.93M | 1.63% |
Export Analysis by Product: Mexico to United Kingdom (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 99 | 673.98M | 82.70% |
| 84 | 37.87M | 4.65% |
| 85 | 34.36M | 4.22% |
| 90 | 24.77M | 3.04% |
| 22 | 12.19M | 1.50% |
| 88 | 6.29M | 0.77% |
| 70 | 4.71M | 0.58% |
| 04 | 4.14M | 0.51% |
| 87 | 3.49M | 0.43% |
| 95 | 3.24M | 0.40% |
Check Detailed Mexico-United Kingdom Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Mexico’s trade surplus with the United Kingdom is expected to widen in Q4 2024, driven by sustained demand for its dominant HS Code 99 exports. However, the hyper-concentration in a single commodity exposes Mexico to supply chain shocks, while the UK’s mixed import performance signals potential volatility in high-value machinery and tech inflows. Traders should anticipate tighter margins on HS Code 99 due to market saturation, but opportunities remain in niche sectors where Mexico can diversify exports. The Mexico - United Kingdom trade forecast hinges on balancing this asymmetry with strategic partnerships.
Strategic Moves
- Diversify Export Baskets: Mexican exporters must reduce reliance on HS Code 99 by targeting UK demand for agro-industrial goods (e.g., processed foods) or automotive components, leveraging existing trade agreements.
- Lock in Tech Imports: UK machinery (HS 84, 85) and tech (HS 90) are critical for Mexico’s industrial base. Importers should negotiate long-term contracts to hedge against price fluctuations and supply disruptions.
- Optimize Logistics for Intra-Industry Trade: Both nations trade HS Code 99 bilaterally, suggesting integrated supply chains. Firms should adopt JIT inventory systems and streamline customs processes to cut costs and delays.
Frequently Asked Questions
How did Mexico - United Kingdom trade perform in 2024 Q3?
Mexico exported $814.94M to the UK, with strong YoY growth (+58.5% in July), while imports totaled $671.70M, showing mixed YoY trends (+1.77% in July, -25.15% in August).
What are the top exports from Mexico to United Kingdom?
HS Code 99 dominates Mexico’s exports to the UK, accounting for 82.70% ($673.98M) of total shipments, indicating extreme concentration in a single commodity.
What does Mexico import from United Kingdom?
HS Code 99 is also the top import (33.83%, $227.22M), alongside machinery (HS 84, 85) and tech (HS 90), reflecting demand for industrial inputs.
What is the trade balance between Mexico and United Kingdom?
Mexico holds a trade surplus of $143.24M ($814.94M exports vs. $671.70M imports), with exports outpacing imports by 21.3% in Q3 2024.
Mexico United Kingdom Trade 2024 Q2
---

title: "Mexico - United Kingdom Trade 2024 Q2: Surplus & Export Growth"
description: "Mexico's United Kingdom trade trend shows a $141.27M surplus, with exports up 7.15%. HS Code 99 dominates Mexico United Kingdom top trading product. Data via yTrade."
image: https://io.ytrade.com/ytrade-blog/Cover/mexico-data/mexico-united-kingdom-trade-2024-q2.webp
create_date: 2024-07-01
update_date: 2024-07-01
author: yTrade
slug: mexico-united-kingdom-trade-2024-q2
category: Import and Export Data
category_slug: import-and-export-data
sub_category: Country Trade Reports
sub_category_slug: country-trade-reports
tags:
- id: 7
  label: "Import Export Data"
  slug: import-export-data
- id: 12
  label: "Mexico"
  slug: mexico
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ogTitle: "Mexico - United Kingdom Trade 2024 Q2: Surplus & Export Growth"
ogDescription: "Mexico's United Kingdom trade trend shows a $141.27M surplus, with exports up 7.15%. HS Code 99 dominates Mexico United Kingdom top trading product. Data via yTrade."
ogImage: https://io.ytrade.com/ytrade-blog/Cover/mexico-data/mexico-united-kingdom-trade-2024-q2.webp
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twitterTitle: "Mexico - United Kingdom Trade 2024 Q2: Surplus & Export Growth"
twitterDescription: "Mexico's United Kingdom trade trend shows a $141.27M surplus, with exports up 7.15%. HS Code 99 dominates Mexico United Kingdom top trading product. Data via yTrade."
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---

## Key Market Takeaways: Mexico - United Kingdom Trade  

The bilateral trade relationship between **Mexico** and **United Kingdom** solidifies Mexico's net exporter role with steady growth in Q2 2024.  

- **Economic Pulse:** Mexico holds a **$141.27M trade surplus**, with exports ($821.67M) outpacing imports ($680.40M) by 20.8%. Exports show strong YoY growth (+7.15%), while imports face sharp declines (-24.88%).  
- **Exchange Structure:** **Intra-industry trade dominates**, with both nations heavily exchanging HS Code 99 (Miscellaneous goods). Mexico’s exports are highly concentrated (83.57% in this category), while the UK’s shipments are more diversified (31.27%).  
- **Strategic Interdependence:** The lopsided reliance on HS Code 99 suggests niche supply chain links, but Mexico’s export concentration signals vulnerability to demand shifts.  

This bilateral trade snapshot is based on verified customs data from the [yTrade database](https://ytrade.com/data-sources).

## Mexico-United Kingdom Trade Trend in Q2 2024

### Mexico Export Performance: Shipments to United Kingdom  
- **Total Volume:** $821.67M in Q2 2024.  
- **Growth Trend & Context:**  
  - Strong YoY expansion (+7.15% in June), signaling sustained demand.  
  - Steady MoM growth (2.45%–10.03%) suggests stable trade flows.  
- **Key Volatility:** April saw the highest MoM jump (+10.03%).  

### Mexico Import Performance: Sourcing from United Kingdom  
- **Total Volume:** $680.40M in Q2 2024.  
- **Growth Trend & Context:**  
  - Sharp YoY contraction (-24.88% in June), indicating reduced reliance or supply constraints.  
  - Volatile MoM swings, including a -21.47% drop in June.  
- **Key Volatility:** June recorded the lowest value ($193.53M) and steepest MoM decline.  

### Mexico - United Kingdom Trade Balance & Market Dynamics  
- **Net Position:** **Trade surplus of $141.27M** (Exports > Imports).  
- **Relationship Status:** Mexico solidifies its net exporter role, with exports outpacing imports by 20.8%.

### Mexico Import Trend from United Kingdom 2024 Q2 (Source: yTrade)**

| Month | Value | MoM | YoY |
|-------|-------|-----|-----|
| Apr | 240.44M | 12.87% | 4.59% |
| May | 246.43M | 2.49% | -5.41% |
| Jun | 193.53M | -21.47% | -24.88% |
| **Total** | **680.40M** | - | - |

### Mexico Export Trend to United Kingdom 2024 Q2 (Source: yTrade)**

| Month | Value | MoM | YoY |
|-------|-------|-----|-----|
| Apr | 263.80M | 10.03% | 1.84% |
| May | 275.55M | 4.46% | 4.34% |
| Jun | 282.32M | 2.45% | 7.15% |
| **Total** | **821.67M** | - | - |

[Get Historical Mexico United Kingdom Trade Records](https://ytrade.com/country-coverage)

## Mexico-United Kingdom Top Trading Products in Q2 2024

### Mexico Export Profile: What Does Mexico Sell to United Kingdom  
- **Top Commodity:** HS Code 99 (Miscellaneous goods) dominates with 83.57% share.  
- **Demand Driver:** United Kingdom likely imports these for industrial processing or niche consumer markets.  
- **Concentration:** Extreme reliance on HS Code 99 (83.57%), indicating a lopsided export structure.  

### Mexico Import Profile: What Does Mexico Buy from United Kingdom  
- **Top Commodity:** HS Code 99 (Miscellaneous goods) leads at 31.27% share.  
- **Dependency Nature:** Likely reflects critical technology or specialized inputs, given the high-value category.  

### Mexico - United Kingdom Trade Relationship Dynamics  
- **The Exchange Model:** **Intra-Industry Trade** evident, with both sides heavily trading HS Code 99 (Miscellaneous goods). Suggests deep supply chain links or niche market exchanges.  
- **Value Chain Position:** United Kingdom holds a slight edge, as its exports (HS Code 99) command higher diversification (31.27% vs. Mexico’s 83.57% concentration).

### Import Analysis by Product: United Kingdom to Mexico (Source: yTrade)

| HS Code | Value | Percent |
| --- | --- | --- |
| 99 | 212.78M | 31.27% |
| 84 | 121.88M | 17.91% |
| 90 | 75.85M | 11.15% |
| 87 | 59.39M | 8.73% |
| 85 | 40.16M | 5.90% |
| 39 | 26.62M | 3.91% |
| 22 | 21.80M | 3.20% |
| 38 | 18.90M | 2.78% |
| 30 | 14.24M | 2.09% |
| 32 | 10.15M | 1.49% |

### Export Analysis by Product: Mexico to United Kingdom (Source: yTrade)

| HS Code | Value | Percent |
| --- | --- | --- |
| 99 | 686.70M | 83.57% |
| 87 | 33.87M | 4.12% |
| 90 | 24.11M | 2.93% |
| 85 | 22.90M | 2.79% |
| 84 | 21.80M | 2.65% |
| 22 | 12.05M | 1.47% |
| 08 | 2.67M | 0.33% |
| 44 | 2.12M | 0.26% |
| 20 | 1.93M | 0.23% |
| 21 | 1.86M | 0.23% |

[Check Detailed Mexico-United Kingdom Trade HS Code Breakdown](https://ytrade.com/hs-code-coverage)

## Future Outlook & Strategic Recommendations  

### Forecast  
Mexico’s trade surplus with the United Kingdom is expected to widen in Q3 2024, driven by sustained export demand for HS Code 99 (Miscellaneous goods) and continued weakness in UK imports. The YoY growth in Mexican exports (+7.15% in June) signals resilience, while the sharp contraction in UK imports (-24.88%) suggests either supply-side constraints or shifting procurement strategies. However, the extreme concentration in Mexico’s export basket (83.57% reliance on HS Code 99) poses a vulnerability—any demand shock could disrupt trade flows. Traders should anticipate steady export volumes but prepare for potential volatility in UK-sourced inputs.  

### Strategic Moves  
- **Diversify Export Offerings:** Mexican exporters must reduce dependence on HS Code 99 by identifying secondary commodities (e.g., automotive parts, agri-food) where UK demand is underserved. Leverage trade promotion programs to test new markets.  
- **Secure Alternative Suppliers:** UK import volatility (-21.47% MoM drop in June) demands contingency planning. Mexican manufacturers should scout for backup suppliers in the EU or North America to mitigate supply chain disruptions.  
- **Optimize Trade Finance:** With intra-industry trade dominating, firms should negotiate flexible payment terms (e.g., staggered LC openings) to align with production cycles and hedge against GBP-MXN exchange rate swings.

## Frequently Asked Questions

### How did Mexico - United Kingdom trade perform in 2024 Q2?  
Mexico exported $821.67M to the United Kingdom, showing steady growth (+7.15% YoY), while imports fell sharply (-24.88% YoY) to $680.40M.  

### What are the top exports from Mexico to United Kingdom?  
Miscellaneous goods (HS Code 99) dominated Mexico’s exports to the UK, accounting for 83.57% of total shipments.  

### What does Mexico import from United Kingdom?  
Miscellaneous goods (HS Code 99) were also the top import from the UK, making up 31.27% of Mexico’s purchases.  

### What is the trade balance between Mexico and United Kingdom?  
Mexico had a trade surplus of $141.27M, with exports exceeding imports by 20.8% in Q2 2024.
Mexico - United Kingdom Trade 2024 Q4: Surplus & Risks
Mexico's $224M trade surplus with the UK faces risks as exports rely heavily on HS Code 99. Explore Mexico-UK trade trends and top products via yTrade data.
