Top Mexican Trade Balances

Mexico City

Mexico City

Overall, Mexico posted a -$13.4 billion trade deficit in 2018 when all exported and imported products are included in the calculation. That dollar amount in red ink is roughly 8 times higher than the -$1.5 billion in Mexico’s red ink from international trade 7 years earlier in 2011.

Year over year, Mexico’s -$13.4 billion trade shortfall in 2018 represents a 22.3% expansion from the -$10.9 billion deficit that North America’s southernmost nation racked up during 2017.

Refined petroleum oils, integrated circuits or microassemblies, and petroleum gases were major factors driving Mexico’s highest trade deficits from a products perspective.

China, Japan and South Korea respectively were the trade partners with which Mexico experienced the highest negative trade balances.

Top Mexican Trade Balances by Product and Country

Product+

The following 10 leading products generated a surplus subtotal of $124.4 billion for Mexico in its global trade during 2018. Metrics listed below highlight Mexico’s strongest competitive advantages over worldwide trading partners.

  1. Cars: US$38.8 billion (Up 98.1% since 2011)
  2. Crude oil: $26.4 billion (Down -46.5%)
  3. Trucks: $21.9 billion (Up 108.9%)
  4. Computers, optical readers: $18.4 billion (Up 108.1%)
  5. TV receivers/monitors/projectors: $10 billion (Down -37.4%)
  6. Tractors: $9.4 billion (Up 70.6%)
  7. Insulated wire/cable: $7.2 billion (Up 104.3%)
  8. Electro-medical equipment (e.g. xrays): $4.7 billion (Up 72.8%)
  9. Seats (excluding barber/dentist chairs): $4.3 billion (Up 74%)
  10. Malt beer: $4.29 billion (Up 125.4%)

Eight of Mexico’s top product surpluses rose in value from 2011 to 2018 led by: malt beer (up 125.4%), trucks (up 108.9%), computers including optical readers (up 108.1%), insulated wire or cable (up 104.3%) then cars (up 98.1%).

Positive trade balances for two of the remaining top products diminished over the 7-year period, namely crude oil (down -46.5%) and TV receivers, monitors or projectors (down -37.4%).

Product-

The 10 major products below accumulated a deficit subtotal of -$83.1 billion for Mexico in international trade during 2018. Mexico has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

  1. Processed petroleum oils: -US$30.5 billion (Up 39% since 2011)
  2. Integrated circuits/microassemblies: -$17.2 billion (Up 51.5%)
  3. Petroleum gases: -$10 billion (Up 111.6%)
  4. Computer parts, accessories: -$7 billion (Up 56.3%)
  5. Engines (diesel): -$3.8 billion (Up 114.2%)
  6. TV/radio/radar device parts: -$3.4 billion (Down -63.6%)
  7. Corn: -$3 billion (Up 2%)
  8. Iron and steel screws, bolts, nuts, washers: -$2.8 billion (Up 50.6%)
  9. Miscellaneous plastic items: -$2.78 billion (Up 26%)
  10. Lower-voltage switches, fuses: -$2.77 billion (Up 66.5%)

Mexico’s red ink in global trade expanded for nine of these top products from 2011 to 2018 led by: diesel engines (up 114.2%), petroleum gases (up 111.6%), lower-voltage switches and fuses (up 66.5%) then computer parts or accessories (up 56.3%).

The sole shrinkage in product-specific deficit was the -63.6% reduction over the seven-year period for television, radio and radar device parts.

Country+

In 2018, Mexico generated a surplus subtotal worth $140.6 billion with the following 10 trading partners.

  1. United States: US$128.7 billion (Up 28.9% since 2011)
  2. Canada: $3.3 billion (Up 216%)
  3. Colombia: $1.8 billion (Down -63.1%)
  4. Guatemala: $1.4 billion (Up 14.1%)
  5. Peru: $1.2 billion (Up 66.4%)
  6. Panama: $1.1 billion (Up 17%)
  7. Venezuela: $931 million (Down -27.7%)
  8. Australia: $909.3 million (Reversing a -89.8 million deficit)
  9. Belgium: $789.1 million (Up 135.9%)
  10. El Salvador: $549.2 million (Down -1.2%)

Mexico went from -$113.1 million in red ink trading with Australia during 2011 to a healthy $909.3 million surplus in 2018. Mexican trade surpluses with Canada (up 216%), Belgium (up 135.9%), Peru (up 66.4%) and the United States (up 28.0%) grew at the fastest percentage pace.

Over the seven-year period, Mexico’s trade surplus declined with three of its top partners: Colombia (down -63.1%), Venezuela (down -27.7%) and El Salvador (down -1.2%).

Country-

Mexico experienced money-losing international trade relationships with 125 countries, islands or territories. The following 10 trade partners created a -$152.2 billion deficit subtotal for Mexico from exchanging exports and imports in 2018.

  1. China: -US$76.3 billion (Up 64.9% since 2011)
  2. Japan: -$14.9 billion (Up 4.7%)
  3. South Korea: -$14.4 billion (Up 19%)
  4. Germany: -$10.7 billion (Up 25.1%)
  5. Malaysia: -$9.2 billion (Up 66.8%)
  6. Taiwan: -$7.9 billion (Up 48.2%)
  7. Thailand: -$6 billion (Up 116.3%)
  8. Italy: -$4.8 billion (Up 41%)
  9. Vietnam: -$4.2 billion (Up 359.3%)
  10. India: -$3.8 billion (Up 578%)

Up 578%, Mexico’s trade deficit with India grew the fastest from 2011 to 2018. In second place, Mexico’s negative net exports with Vietnam expanded by 359.3% trailed by red ink increases with Thailand (up 116.3%), Malaysia (up 66.8%) and China (up 64.9%).




 

See also Mexico’s Top 10 Imports, Mexico’s Top Trading Partners, Top Mexican Trade Balances and Mexico’s Top 10 Exports

Research Sources:
Trade Map, International Trade Centre. Accessed on March 9, 2019

Investopedia, Net Exports Definition. Accessed on March 9, 2019

The World Factbook, Field Listing: World, Central Intelligence Agency. Accessed on March 9, 2019

Wikipedia, Economy of Mexico. Accessed on March 9, 2019