Trade Balance: Mexico and US

Mexico and US: Trade Balance

Not only does the trade relationship between Mexico and the United States has experienced a significant increase in value but in volume as well. Thus, the foreign commerce with the U.S. is one of the most important factors in Mexico's economy and a fundamental tool for its economic growth. Also, during the first months of 2023 the trade balance with the U.S. continued to show a positive trend.

The U.S. is a major player in Mexican foreign trade: its share in Mexico's external sales was 81.8% in 2022. Meanwhile, the weight of the U.S. in Mexican imports was 43.8%, showing a steady downward trend since during the last ten years, the average weight of the U.S. in Mexican imports has been 46.0%, while in the 2003-2012 period it was 51.7%, and between 1993-2002, 71.5%.

The categories most imported by Mexico from the U.S. in 2022 were; Mineral Products (USD 57bn) which includes salt, mineral fuels, oils, minerals, etc.; Machinery (USD 54bn) which comprises nuclear reactors and electronic equipment; Plastics and Rubber (USD 24bn). While the most exported categories were Machinery (USD 172bn) and Transportation (USD 93bn). Transportation includes vehicles, railways, boats and aircraft, among other products. Meanwhile, the main origins of exports to the U.S. are Mexico City and Chihuahua. And the main destinations of purchases are Mexico City and Nuevo Leon.


The growing number of Mexicans migrating to the U.S. has led to an increase in remittances. In 2022, a total of USD 55.8bn were sent from the U.S. to Mexico, a 14% increase from the USD 49bn in 2021. These remittances play a crucial role in sustaining Mexico's working class economy and are frequently used to support families, invest in small businesses, and contribute to local community development. It is important to note, however, that while remittances from the U.S. have been steadily increasing, the amount of money sent from Mexico to the U.S. is significantly lower (only USD 548mn in 2022).

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