OVERVIEW
Mexico is a country located in North America, known for its unique and colorful identity, that blends indigenous roots with Spanish colonial influences, world-famous cuisine, stunning beaches and its ancient ruins like Chichen Itza and Teotihuacán.
Its capital, Mexico City, is one of the largest and most dynamic cities in the world, built on the ruins of the Aztec city of Tenochtitlán that serves as the political, cultural and innovation hub and also reflects the spirit of the nation.
In 2023, Mexico ranked
- 12th in terms of GDP, currently valued as $1.79T, out of 195 economies in the world;
- 9th in terms of total exports out of 226 countries;
- 75th in terms of GDP per capita, valued with current US$, out of 196 economies in the world.
ECONOMIC COMPLEXITY RANKING
EXPORT
In 2023 it was estimated that the principal products that were exported from Mexico were
- Cars - $64.5B;
- Motor Vehicles; parts & accessories - $41.1B;
- Crude Petroleum - $32.2B;
- Delivery Trucks - $31.6B;
- Computers - $29.5B.
On the other hand, the commonest destinations for Mexico exports were
- United States - $456B;
- Canada - $33B;
- China - $15B;
- Germany - $10.7B;
- Spain - $6.04B.
Lastly, it was revealed that, on the same year, Mexico was the world’s largest exporter of many categories, such as
- Delivery Trucks - $31.6B;
- Tractors - $14.1B;
- Beer - $6.35B;
- Tropical Fruits - $4.04B;
- Other Vegetables - $3.66B.
IMPORT
In 2023 the most imported products from other countries to Mexico were
- Motor Vehicles; parts & accessories - $32.5B;
- Refined Petroleum - $31.9B;
- Integrated Circuits - $23.5B;
- Broadcasting Equipment - $18.6B;
- Cars - $17.1B.
These goods were mainly produced by
- United States - $243B;
- China - $104B;
- Germany - $20.2B;
- Japan - $16.7B;
- South Korea - $16.5B.
Lastly, it was reported that Mexico was the world’s largest importer of, among others
- Combustion Engines - $6.43B;
- Electrical Power Accessories - $4.58B;
- Flat Flat-Rolled Steel - $2.67B;
- Cold-Rolled Iron - $1.18B;
- Other Large Iron Pipes - $619M.
YEARLY TRADE
During the last five reported years, the exports of Mexico have increased by an amount of $136B from $469B in 2018 to $605B in 2023.
The most recent exports are led by
- Cars - $64.2B;
- Motor Vehicles; parts & accessories - $41.4B;
- Computers - $32.5B;
- Crude Petroleum - $32.2B;
- Delivery Trucks - $31.4B.
They were exported primarily to
- United States - $458B;
- Canada - $33.4B;
- China - $14.7B;
- Germany - $10.8B;
- Chinese Taipei - $6.13B.
CONCLUSIONS
In 2023, Mexico was a key economic and cultural force in Latin America, with sectors like tourism and manufacturing that were still relevant, while others like innovation and sustainability that gained traction.
The country’s strategic and deep trade ties supported its global relevance, continuing to attract investments and interests while showing resilience and ambition, and its market offers a solid ground for long term growth that allows to continue its regional leadership.
Source: https://oec.world/en
