Top Mexican Trade Balances

Mexico City

Mexico City

Overall, Mexico posted a -$13.2 billion trade deficit in 2016 when all products are considered, almost double the -$4.7 billion Mexican shortfall for 2009.

Refined petroleum, integrated circuits and microassemblies were major factors behind Mexico’s highest trade deficits by product. China and Japan placed first and second respectively among trade partners with which Mexico experienced the highest negative trade balances.

Year over year, Mexico’s -$13.2 billion shortfall represents a -10.1% reduction from the -$14.6 billion deficit the North American nation incurred during 2015.

Top Mexican Trade Balances by Product and Country

Product+

The following 10 leading products generated a surplus subtotal of $103.6 billion for Mexico in its global trade during 2016. Metrics listed below highlight Mexico’s strongest competitive advantages over worldwide trading partners.

  1. Cars: US$21.5 billion (Up 107.5% since 2009)
  2. Trucks: $21.2 billion (Up 357.6%)
  3. Crude oil: $15.5 billion (Down -39.7%)
  4. TV receivers/monitors/projectors: $10.7 billion (Down -34.5%)
  5. Computers, optical readers: $10.4 billion (Up 260.3%)
  6. Insulated wire/cable: $6 billion (Up 186.1%)
  7. Tractors: $5.2 billion (Up 127.6%)
  8. Gold (unwrought): $4.7 billion (Up 22.7%)
  9. Seats (excluding barber/dentist chairs): $4.5 billion (Up 190.1%)
  10. Electro-medical equipment (e.g. xrays): $4 billion (Up 73%)

Eight of Mexico’s top product surpluses rose in value from 2009 to 2016 led by: trucks (up 357.7%), computers and optical readers (up 260.3%), seats excluding barber and dentist chairs (up 190.1%) and insulated wire or cable (up 186.1%).

Positive trade balances for the remaining two products fell in value, namely crude oil (down -39.7%) and TV receivers, monitors or projectors (down -34.5%).

Product-

The 10 major products below accumulated a deficit subtotal of -$56.9 billion for Mexico in international trade during 2016. Mexico has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

  1. Processed petroleum oils: -US$15.7 billion (Up 116.7% since 2009)
  2. Integrated circuits/microassemblies: -$13.2 billion (Up 87.7%)
  3. Petroleum gases: -$5.6 billion (Up 105.1%)
  4. Computer parts, accessories: -$5 billion (Up 80.1%)
  5. TV/radio/radar device parts: -$4.6 billion (Down -51.1%)
  6. Liquid crystal/laser/optical tools: -$3.2 billion (Up 37.6%)
  7. Lower-voltage switches, fuses: -$2.6 billion (Up 137.5%)
  8. Miscellaneous plastic items: -$2.4 billion (Up 55.3%)
  9. Iron and steel screws, bolts, nuts, washers: -$2.3 billion (Up 101.1%)
  10. Engines (diesel): -$2.3 billion (Up 134.3%)

Mexico’s red ink in global trade expanded for nine of these top products, led by: lower-voltage switches and fuses (up 137.5%), diesel engines (up 134.3%), refined petroleum oils (up 116.7%) and petroleum gases (up 105.1%).

The one trade product experiencing a trade deficit decline was television, radio or radar device parts down -51.1% from 2009 to 2016.

Country+

In 2016, Mexico generated a surplus subtotal worth $131.6 billion with the following 10 trading partners.

  1. United States: US$123 billion (Up 69.3% since 2009)
  2. Colombia: $2 billion (Up 5.2%)
  3. Guatemala: $1.2 billion (Up 77.3%)
  4. United Kingdom: $1.1 billion (Up -285.5%)
  5. Panama: $848 million (Up 25.3%)
  6. Peru: $847.4 million (Up 267.5%)
  7. Canada: $796.3 million (Down -14.6%)
  8. Dominican Republic: $759.2 million (Up 92.5%)
  9. Costa Rica: $524.4 million (Up -292.7%)
  10. Argentina: $511.9 million (Up -812.2%)

Mexican trade surpluses with Peru (up 267.5%), Dominican Republic (up 92.5%), Guatemala (up 77.3%) and United States (up 69.3%) grew at the fastest pace.

Over the seven-year period, Mexico’s positive net exports declined with four of its top partners: Argentina (down -812.2%), Costa Rica (down -292.7%), United Kingdom (down -285.5%) and Canada (down -14.6%).

Country-

Mexico experienced a losing international trade relationship with 140 countries, islands or territories. The following 10 trade partners created a -$127.3 billion deficit subtotal in 2016 from exchanging exports and imports.

  1. China: -US$64.1 billion (Up 111.5% since 2009)
  2. Japan: -$14 billion (Up 42.7%)
  3. South Korea: -$11.1 billion (Up 6.3%)
  4. Germany: -$9.9 billion (Up 51.9%)
  5. Malaysia: -$7.7 billion (Up 97.9%)
  6. Taiwan: -$6.6 billion (Up 49.3%)
  7. Thailand: -$4.9 billion (Up 161.8%)
  8. Italy: -$3.7 billion (Up 40.4%)
  9. Vietnam: -$3 billion (Up 480.7%)
  10. India: -$2.2 (Up 7,946%)

Up 7,946%, Mexico’s trade deficit with India grew the fastest from 2009 to 2016. Mexico’s negative net exports with Vietnam expanded by 480.7%. These were followed by a 161.8% increase for the Mexican shortfall trading with Thailand and a 111.5% expansion for China.

Up 6.3%, the most moderate rise for a Mexican country-specific negative trade balance was with South Korea.




 

See also Mexico’s Top 10 Major Export Companies and Mexico’s Top 10 Exports

Research Sources:
Trade Map, International Trade Centre. Accessed on March 16, 2017

Investopedia, Net Exports Definition. Accessed on March 16, 2017

The World Factbook, Field Listing: World, Central Intelligence Agency. Accessed on March 16, 2017

Wikipedia, Economy of Mexico. Accessed on March 16, 2017