Mexico - United States Trade 2024 Whole Year: $251B Surplus
Key Market Takeaways: Mexico - United States Trade
The bilateral trade relationship between Mexico and United States remains robust, with Mexico maintaining a dominant net exporter role in 2024.
- Economic Pulse: Mexico holds a $251.10B trade surplus with the U.S., exporting $503.26B (double its imports of $252.16B), despite mixed YoY growth and volatility.
- Exchange Structure: Mexico - United States trade statistics reveal deep supply chain integration, with vehicles (HS 87) leading exports (25.81%) and machinery (HS 84-85) driving U.S. exports (24.56%).
- Strategic Interdependence: The relationship is defined by intra-industry trade, particularly in automotive and electronics, with Mexico supplying assembled goods and the U.S. exporting high-value inputs.
This bilateral trade snapshot is based on verified customs data from the yTrade database.
Mexico-United States Trade Trend in Whole Year 2024
Mexico Export Performance: Shipments to United States
- Total Volume: $503.26B in 2024.
- Growth Trend & Context: Mixed YoY performance, with notable spikes in February (+14.9%), April (+14.05%), and October (+14.29%). Declines in June (-5.47%) and March (-3.14%) offset gains. No news context provided to explain volatility.
- Key Volatility: June saw a sharp MoM drop (-15.12%), while July rebounded with a 15.2% surge.
Mexico Import Performance: Sourcing from United States
- Total Volume: $252.16B in 2024.
- Growth Trend & Context: Overall YoY contraction, with steep declines in January (-11.74%), March (-13.9%), and September (-11.77%). April (+12.44%) and July (+7.21%) were outliers. No news context to clarify trends.
- Key Volatility: September recorded the steepest MoM drop (-12.98%), while October rebounded (+17.85%).
Mexico - United States Trade Balance & Market Dynamics
- Net Position: Trade surplus of $251.10B (Exports $503.26B - Imports $252.16B).
- Relationship Status: Mexico maintains a dominant net exporter role, with exports doubling imports. Demand for Mexican goods in the U.S. remains robust despite import volatility.
Mexico Import Trend from United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 18.13B | -2.06% | -11.74% |
| Feb | 22.45B | 23.84% | 5.36% |
| Mar | 20.25B | -9.82% | -13.9% |
| Apr | 22.73B | 12.27% | 12.44% |
| May | 22.20B | -2.34% | -1.07% |
| Jun | 20.39B | -8.16% | -5.34% |
| Jul | 21.13B | 3.63% | 7.21% |
| Aug | 22.48B | 6.4% | -2.49% |
| Sep | 19.56B | -12.98% | -11.77% |
| Oct | 23.06B | 17.85% | 3.28% |
| Nov | 20.47B | -11.21% | -0.61% |
| Dec | 19.31B | -5.68% | 4.3% |
| Total | 252.16B | - | - |
Mexico Export Trend to United States 2024 Whole Year (Source: yTrade)**
| Month | Value | MoM | YoY |
|---|---|---|---|
| Jan | 33.25B | -16.11% | -0.53% |
| Feb | 41.31B | 24.26% | 14.9% |
| Mar | 41.78B | 1.15% | -3.14% |
| Apr | 42.09B | 0.74% | 14.05% |
| May | 45.80B | 8.8% | 8.35% |
| Jun | 38.87B | -15.12% | -5.47% |
| Jul | 44.78B | 15.2% | 18.89% |
| Aug | 42.84B | -4.34% | 3.1% |
| Sep | 41.05B | -4.18% | 5.17% |
| Oct | 47.09B | 14.72% | 14.29% |
| Nov | 42.00B | -10.8% | 4.15% |
| Dec | 42.41B | 0.96% | 7.0% |
| Total | 503.26B | - | - |
Get Historical Mexico United States Trade Records
Mexico-United States Top Trading Products in Whole Year 2024
Mexico Export Profile: What Does Mexico Sell to United States
- Top Commodity: Vehicles (HS 87) dominate exports, accounting for 25.81% of total value.
- Demand Driver: Serves the U.S. consumer market and automotive supply chains, reflecting integrated production networks.
- Concentration: The top 3 categories (HS 87, 85, 84) make up 62.9% of exports, indicating moderate concentration.
Mexico Import Profile: What Does Mexico Buy from United States
- Top Commodity: Machinery (HS 84) leads imports at 13.46% share, followed closely by electrical machinery (HS 85) and vehicles (HS 87).
- Dependency Nature: Critical technology dependency, with machinery and electronics (HS 84-85) comprising 24.56% of imports. Energy (HS 27) adds another 10.65%, highlighting mixed industrial and energy needs.
Mexico - United States Trade Relationship Dynamics
- The Exchange Model: Deep Supply Chain Integration, with overlapping top categories (HS 84, 85, 87) indicating intra-industry trade, particularly in automotive and electronics.
- Value Chain Position: The U.S. holds a higher value-add position, exporting advanced machinery (HS 84-85) while Mexico supplies assembled vehicles (HS 87) and components (HS 85).
Import Analysis by Product: United States to Mexico (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 84 | 33.95B | 13.46% |
| 85 | 27.99B | 11.10% |
| 27 | 26.85B | 10.65% |
| 87 | 26.44B | 10.48% |
| 99 | 25.71B | 10.19% |
| 39 | 19.75B | 7.83% |
| 90 | 8.37B | 3.32% |
| 72 | 6.77B | 2.68% |
| 73 | 5.44B | 2.16% |
| 02 | 5.23B | 2.07% |
Export Analysis by Product: Mexico to United States (Source: yTrade)
| HS Code | Value | Percent |
|---|---|---|
| 87 | 129.89B | 25.81% |
| 85 | 95.01B | 18.88% |
| 84 | 91.64B | 18.21% |
| 99 | 29.11B | 5.79% |
| 90 | 27.13B | 5.39% |
| 94 | 11.90B | 2.36% |
| 22 | 10.98B | 2.18% |
| 07 | 10.03B | 1.99% |
| 39 | 9.88B | 1.96% |
| 08 | 8.49B | 1.69% |
Check Detailed Mexico-United States Trade HS Code Breakdown
Future Outlook & Strategic Recommendations
Forecast
Mexico’s trade surplus with the United States is expected to remain robust in 2025, driven by sustained demand for vehicles (HS 87) and integrated supply chains. However, volatility in monthly trade flows—particularly in machinery (HS 84-85) and energy (HS 27)—signals potential disruptions from U.S. policy shifts or supply chain bottlenecks. Exporters should anticipate tighter inventory management as U.S. import demand fluctuates, while importers must prepare for price volatility in critical technology and energy inputs. The Mexico - United States trade forecast hinges on maintaining deep supply chain integration while mitigating risks from geopolitical or economic shocks.
Strategic Moves
- Diversify Export Markets for Key Categories: While automotive (HS 87) dominates, Mexican exporters should expand into secondary U.S. sectors like aerospace (HS 88) or medical equipment (HS 90) to reduce overreliance on a single commodity.
- Lock in Long-Term Contracts for Critical Imports: Importers of U.S. machinery (HS 84-85) and energy (HS 27) should secure fixed-price agreements to hedge against sudden cost spikes, especially amid potential U.S. trade policy adjustments.
- Optimize Cross-Border Logistics for JIT Efficiency: With overlapping supply chains in automotive and electronics, firms must invest in near-shoring logistics hubs to minimize delays from U.S. port congestion or customs bottlenecks.
Frequently Asked Questions
How did Mexico - United States trade perform in 2024 Whole Year?
Mexico exported $503.26B to the United States (mixed YoY growth) and imported $252.16B (YoY contraction), with notable monthly volatility in both directions.
What are the top exports from Mexico to United States?
Vehicles (HS 87) dominate, followed by electrical machinery (HS 85) and machinery (HS 84), collectively accounting for 62.9% of total exports.
What does Mexico import from United States?
Top imports include machinery (HS 84), electrical machinery (HS 85), and vehicles (HS 87), with energy products (HS 27) contributing 10.65%.
What is the trade balance between Mexico and United States?
Mexico recorded a $251.10B trade surplus, with exports doubling imports, reflecting robust demand for Mexican goods in the U.S. market.
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