Mexico was the 10th largest world exporter in 2024, down compared to the 9th in 2023, according to the World Trade Organization (WTO) World Trade and Statistics Report.
Mexico has slipped a position even if the value of its exports reached a record last year, Increase 4.1% per year to just over $ 617 billionAccording to data published by the National Statistics Agency of Mexico INEGI in January.
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Hong Kong has exceeded Mexico to become the ninth largest exporter in the world, but most of the income from the Chinese special administrative region come from “re -Exports” – goods sent abroad after being imported without any transformation having taken place. In other words, Hong Kong is a major transhipment centerOr warehouseEspecially for the goods of continental China.
Let us take a closer look at the export data for 2024, included in The World Trade and Statistics Reportwhich was published this month.
Mexico is the best exporter in Latin America
A table of the WTO report details the “main exporters and importers in world goods trade” last year. The best 10 exporters were:
- China – The value of Chinese exports increased 6% per year to 3.57 billions of dollars, representing 14.6% of world exports.
- United States – The value of American exports increased by 2% per year to reach $ 2.06, representing 8.5% of world exports.
- Germany – The value of German exports decreased by 1% per year to 1.68 dollars, representing 6.9% of world exports.
- Netherlands – The value of Dutch exports decreased by 2% per year to reach $ 961 billion, representing 3.8% of world exports.
- Japan – The value of Japanese exports has decreased by 1% per year to $ 707 billion, representing 2.9% of world exports.
- South Korea – The value of Korean exports increased by 8% per year to reach $ 684 billion, representing 2.8% of world exports.
- Italy – The value of Italian exports remained stable at $ 674 billion, representing 2.8% of world exports.
- Hong Kong – The value of Hong Kong exports increased by 12% per year to reach $ 646 billion, representing 2.6% of world exports. Almost 95% of income came from reviews, the value of which increased by 11% compared to 2023.
- France – The value of French exports has decreased by 2% per year to $ 640 billion, representing 2.6% of world exports.
- Mexico – The value of Mexican exports increased by 4% per year to reach $ 617 billion, representing 2.5% of world exports.
The exports of Mexico in 2024 were worth more than those of its partner at USMCA Canada ($ 568 billion) and Brazil ($ 337 billion), the most populated and largest economy in Latin America.
More than 80% of Mexico exports go to the United States and Mexico is the best exporter of the largest economy in the worldhaving dethroned China in 2023.
Given the high dependence of Mexico with regard to trade with the United States, the protectionist agenda of President Donald Trump is very worrying for the Mexican government, which is currently Try to negotiate exemptions from Mexican steel prices, aluminum and vehicles.
OMC data shows how much China – a manufacturing power, says slightly – is in world trade. Imports from Mexico from China have increased considerably in recent yearsAnd Trump has accused the country of being a transhipment center for Chinese exports -That is to say a stolen door in the United States. China could seek to further increase its shipments in Mexico given the high prices that Chinese products are currently confronted when they enter the United States
However, the Mexican government is currently aimed at reducing dependence on imports from China and other Asian countries while seeking to increase national production production within the framework of its Plan the economic initiative of Mexico. He recently has imposed some additional prices on imports from ChinaAnd could impose more because it seeks to provide greater protection to the Mexican industry.
President Claudia Sheinbaum said earlier this year That to impose additional prices on imports from countries with which Mexico does not have free trade agreements, like China, was an option.
Mexico also the 10th largest importer in the world
WTO data also showed that Mexico was the 10th World Export receiver last year, behind the United States, China, Germany, the United Kingdom, the Netherlands, France, Japan, Hong Kong and India.
Mexico imported goods worth more than $ 625 billion in 2024, according to INEGI, leaving it a trade deficit of more than $ 8 billion.
By the editor -in -chief of Mexico News Daily Peter Davies ((Protected by e-mail)))
