Top Mexican Trade Balances

Mexico City

Mexico City

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.

Mexico’s overall trade deficit for all products equaled -US$14.5 billion in 2015, up by 855.2% from -$1.4 billion for 2011. Year over year, the -$14.5 billion shortfall represents a 403.2% increase from the -$2.9 billion deficit that Mexico incurred during 2014.

Top Mexican Trade Balances by Product and Country

Product+

The following 10 leading products generated a surplus subtotal of $110.5 billion for Mexico in its global trade during 2015. Metrics listed below highlight Mexico’s strongest competitive advantages over worldwide trading partners.

  1. Cars: US$23.4 billion (up 19.4% since 2011)
  2. Trucks: $19.7 billion (up 87.7%)
  3. Crude oil: $18.8 billion (down -62%)
  4. TV receivers/monitors/projectors: $12.9 billion (down -19.4%)
  5. Computers, optical readers: $9 billion (up 2%)
  6. Tractors: $8.5 billion (up 54.8%)
  7. Insulated wire/cable: $5.9 billion (up 69.3%)
  8. Seats (excluding barber/dentist chairs): $4.2 billion (up 69.4%)
  9. Gold (unwrought): $4.1 billion (down -45.1%)
  10. Refrigerators, freezers: $3.8 billion (up 13.7%)

Seven of Mexico’s top product surpluses rose in value from 2011 to 2015, led by: trucks (up 87.7%), seats excluding barber and dentist chairs (up 69.4%), insulated wire or cable (up 69.3%) and tractors (up 54.8%).

Positive trade balances for the remaining three products fell in value. The three decliners were: crude oil (down -62%), unwrought gold (down -45.1%) and TV receivers, monitors or projectors (down -19.4%).

Product-

The 10 major products below accumulated a deficit subtotal of -$58.8 billion for Mexico in international trade during 2015. Mexico has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

  1. Processed petroleum oils: -US$16.1 billion (down -26.5% since 2011)
  2. Integrated circuits/microassemblies: -$12.9 billion (up 13.9%)
  3. TV/radio/radar device parts: -$5.2 billion (down -43.9%)
  4. Petroleum gases: -$5 billion (up 5.7%)
  5. Computer parts, accessories: -$4.5 billion (up 1%)
  6. Liquid crystal/laser/optical tools: -$4.2 billion (up 32.3%)
  7. Engines (diesel): -$3.2 billion (up 81.4%)
  8. Lower-voltage switches, fuses: -$2.7 billion (up 63.5%)
  9. Iron and steel screws, bolts, nuts, washers: -$2.5 billion (up 35.5%)
  10. Miscellaneous plastic items: -$2.4 billion (up 10.3%)

Mexico’s red ink in global trade expanded for eight of these top products, led by the following: diesel engines (up 81.4%), lower-voltage switches or fuses (up 63.5%) and iron and steel screws, bolts, nuts or washers (up 35.5%).

The two trade products showing the deficit declines were: TV, radio or radar device parts (down -43.9%) and processed petroleum oils (down -26.5%).

Country+

In 2015, Mexico generated a surplus subtotal worth $131.1 billion with the following 10 trading partners.

  1. United States: US$121.8 billion (up 22% since 2011)
  2. Colombia: $2.7 billion (down -42.9%)
  3. Guatemala: $1.4 billion (up 8.8%)
  4. Venezuela: $1.1 billion (down -15.3%)
  5. Peru: $969.4 million (up 37.7%)
  6. Panama: $921.9 million (up 2.1%)
  7. Dominican Republic: $598.9 million (down -28.5%)
  8. Canada: $597.8 million (down -43%)
  9. Belgium: $522.2 million (up 56.1%)
  10. Hong Kong: $513.8 million (up 377.9%)

Mexican trade surpluses with Hong Kong (up 377.9%), Belgium (up 56.1%), Peru (up 37.7%) and United States (up 22%) grew at the fastest pace.

Over the five-year period, Mexico’s positive net exports declined with four of its top partners: Canada (down -43%), Colombia (down -42.9%), Dominican Republic (down -28.5%) and Venezuela (down -15.3%) .

Country-

Mexico experienced a losing international trade relationship with 134 countries, islands or territories. The following 10 trade partners created a -$129.3 billion deficit subtotal in 2015 from exchanging exports and imports.

  1. China: -US$65.1 billion (up 40.7% since 2011)
  2. Japan: -$14.4 billion (up 0.8%)
  3. South Korea: -$11.8 billion (down -2.4%)
  4. Germany: -$10.5 billion (up 22.4%)
  5. Malaysia: -$7.3 billion (up 33.8%)
  6. Taiwan: -$6.4 billion (up 20%)
  7. Thailand: -$4.6 billion (up 67.4%)
  8. Vietnam: -$3.5 billion (up 287.5%)
  9. Italy: -$3.4 billion (down -0.2%)
  10. India: -$2.2 billion (up 293.1%)

Up 293.1%, Mexico’s trade deficit with India grew the fastest from 2011 to 2015. Mexico’s negative net exports with Vietnam expanded by 287.5% followed by a 67.4% increase for the Mexican shortfall trading with Thailand and a 40.7% rise for China.

Mexico trimmed the size of its negative trade balances with two top partners, down by -2.4% for South Korea and a 0.2% decline for Italy.




 

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

Research Sources:
Trade Map, International Trade Centre. Accessed on November 13, 2016

Investopedia, Net Exports Definition. Accessed on November 13, 2016

The World Factbook, Field Listing: World, Central Intelligence Agency. Accessed on November 13, 2016

Wikipedia, Economy of Mexico. Accessed on November 13, 2016