Trade Balance of Goods in Mexico: Overview from 2017 to 2023

Mexico’s trade balance experienced notable fluctuations, transitioning from a deficit of -22,746.1 million USD in 2017 to a rare surplus of 23,892.8 million USD in 2020, driven by reduced import demand during the pandemic and steady export growth in automotive and electronics sectors. However, the deficit widened significantly to -48,589.2 million USD in 2022, reflecting higher energy import costs and increased domestic demand.

In 2023, the deficit narrowed to -28,464.4 million USD, supported by a recovery in exports as global supply chains stabilized. Mexico’s trade balance underscores its integration into global manufacturing networks while highlighting vulnerabilities to energy price volatility and import dependency.