Mexico Trade, Mexico Exports, Mexico Imports

Mexico is the world’s 11th largest economy. It is known for being a free trade economy that is heavily geared towards exports. Mexico’s trade is based on free trade agreements with more than 40 countries, including Japan, Israel, EU and various Central and South American countries.


Mexico Trade: Exports & Imports under NAFTA

Mexico’s main free trade agreement involves a trilateral trade bloc between Mexico, the United States and Canada. This agreement came into force in 1994 and immediately brought about the elimination of tariffs on more than half the goods imported into the US from Mexico and roughly one third of all goods exported to Mexico from the US. The ultimate aim of the agreement is to completely eliminate US-Mexico trade tariffs within a period of 10-15 years. Meanwhile, the agreement also accounts for 50% of all Mexican exports and 45% of its imports.

The countries that Mexico imports from include:

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      United States: 44.3%
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      China 5.5%
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      Japan: 4.1%
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      South Korea: 5.3%
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      Brazil: 31.5%
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      Chile: 9.3%
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Oil is Mexico’s main export and the largest generator of foreign income in the country. Mexico is the sixth largest oil producing country in the world, producing 3.7 million barrels daily. In fact, the production of oil is regulated by the Mexican government with private companies handling the production and shipping of oil.

Besides oil, Mexico exports the following goods to other countries:



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      Electronics
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      Automobiles
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      Aircraft
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      Silver
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      Computers
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      Fruits
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      Processed foods
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      Vegetables
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      Ships
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      Coffee
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      Electricity
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      Biotechnology
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      Cotton
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      Cellular phones
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      Metals
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      Industrial equipment
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      Firearms
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      Aluminum
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      Information technologies
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      Silicone
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      Gold

      

Automobile exports from Mexico are another main revenue earner for the country. Many major automobile manufacturers are located in the country, such as General Motors, Ford, Chrysler (who have been in Mexico since before the Second World War), along with Volkswagen, Nissan, Honda, Mercedes-Benz and BMW. With an infrastructure that can support R&D, as well as manufacture of components and ancillary industries, many