Introduction
Mexico’s export dependency as a percentage of its Gross Domestic Product (GDP) has been on the rise over the past decade. In 2014, exports accounted for 31.5% of Mexico’s GDP, but by 2024, this figure had grown to 36.7%, peaking at 42.7% in 2022, according to data from Mexico’s National Institute of Statistics and Geography (Inegi) and the International Monetary Fund (IMF).
Mexico’s Export Performance in Global Context
As the global trade system evolves, Mexico’s export-to-GDP ratio serves as an indicator of its adaptation to these changes, given its commercial and productive integration with the United States. The federal government aims to further develop the domestic market.
- China: 21.4%
- United States: 10.8%
- Germany: 46.1%
- Netherlands: 101.6%
These statistics consider both goods and services exports, along with the current-price GDP for each year.
Mexico’s Export Composition
In 2024, 89.8% of Mexico’s product exports were manufactures. The country has promoted trade openness and logistics while developing its manufacturing sector, aiming to benefit from lower production costs and its shared border with the United States, its primary export trading partner.
Challenges and Solutions
Sergio Islas, General Director of SIEM Business (a trade and customs agency), highlights the dynamic environment faced by Mexico’s export sector and customs, marked by new regulations, geopolitical challenges, and modernization efforts.
Trade tariffs imposed by former U.S. President Donald Trump created significant pressure on Mexican customs, leading to congestion at key crossings like Nuevo Laredo and Ciudad Juárez, as many businesses advanced exports to avoid potential overcosts. The system was unprepared for this volume.
Among the many challenges, Mexico’s export sector faces constant regulatory changes and logistical/production disruptions worldwide.
To tackle these issues, Islas emphasizes that the Mexican government is leveraging new technologies like artificial intelligence and big data, as well as strengthening its pre-clearance system for trade documents (pedimentos) to legally verify the entry or exit of goods from the country.
Other Economies with High Export-to-GDP Ratios
Other economies with a high proportion of exports in their GDP in 2024 include:
- France: 32.6%
- South Korea: 44.0%
- Hong Kong: 185.5%
Hong Kong functions as a trading port and re-exportation center, meaning that many of its exports are not locally manufactured products or have minimal local content. Instead, they consist of imported goods (often from China or other countries) that are re-exported with minor transformations.
Each time a good enters and leaves Mexico’s territory, it is counted as both an import and export, inflating the total value of trade relative to its actual internal production (GDP).
Mexico sends 83% of its exports to the United States, so sectors crucial to Mexico’s economy—automotive, steel, and aluminum—face higher costs due to tariffs. Islas Arias suggests that these new circumstances necessitate more robust customs control schemes.
