Mexico drops out of the top ten exporting countries

In 2024, Mexico fell one place in the ranking of the world's top 10 exporting powers, according to Sergio E. Contreras Pérez, executive president of the Mexican Business Council for Foreign Trade, Investment, and Technology (COMCE).

The country fell from ninth to tenth place, due to Hong Kong climbing to eighth place after reaching exports of US$646 billion, a 12% increase over the previous year, surpassing France and Mexico.

In the case of Mexico, the value of exports rose 4% to US$617.1 billion, after reaching US$593 billion a year earlier, said the business leader, who cited the World Trade Organization (WTO) report Trade Outlook and Statistics.

However, he noted that Mexico is the tenth largest exporter of goods in terms of value, with a 2.5% share of world trade.

He said that in 2024, Mexico maintained its regional leadership as the leading exporter in Latin America and the second largest in the Americas, behind only the United States.

In terms of imports, Mexico also ranks tenth with a 2.6% share and 4% growth, said the Comce president.

He said that in 2024, Mexico imported US$625.312 billion in goods from Asia, the United States, and Europe, compared to US$598.475 billion the previous year.

The representative highlighted that in March, Mexican exports to the United States totaled US$47.982 billion, the highest monthly figure on record.

“This result confirms that Mexico remains its main trading partner,” he said.

He stated that, in general terms, 2025 is expected to be an atypical year for international trade, following the WTO's projection of a 0.2% contraction in the volume of world merchandise trade, in contrast to the 2.9% growth recorded in 2024.

“This moderation is attributed to the impact of new tariffs, lower external demand, and adjustments in global supply chains,” he said.

By 2026, a moderate recovery of 2.5% is expected.

Given this global environment, Comce stressed the importance of having spaces for strategic dialogue that allow for identifying opportunities, anticipating risks, and strengthening Mexico's competitiveness in international markets.