{"id":134,"date":"2024-02-28T23:35:21","date_gmt":"2024-02-28T23:35:21","guid":{"rendered":"https:\/\/remar.mx\/en\/?p=134"},"modified":"2024-02-28T23:35:22","modified_gmt":"2024-02-28T23:35:22","slug":"foreign-trade-fared-mexico-2023","status":"publish","type":"post","link":"https:\/\/remar.mx\/en\/blog\/foreign-trade-fared-mexico-2023\/","title":{"rendered":"Here’s how foreign trade fared in Mexico during 2023"},"content":{"rendered":"\n

Foreign trade is one of the most important drivers of the Mexican economy. Its role in the country’s development is undeniable and evident in numbers.<\/p>\n\n\n\n

Despite the various challenges, technological innovations, market trends, and other events that changed global trade dynamics, 2023 turned out to be a year filled with learning opportunities for Mexico.<\/p>\n\n\n\n

In this article, we’ll discuss the numbers behind Mexico’s foreign trade landscape during 2023<\/h2>\n\n\n\n

In January 2023, the value of merchandise exports reached $42.591 billion.<\/strong> This figure comprised $39.878 billion in non-oil exports and $2.712 billion in oil exports, representing an annual increase of 16.3%.<\/p>\n\n\n\n

During the same month, manufacturing exports saw an annual growth of 28.3%. The most significant expansions were observed in exports of automotive products (64.9%), electrical and electronic equipment (21.1%), professional and scientific equipment (18.2%), and machinery and special equipment for various industries (17.2%).<\/strong><\/p>\n\n\n\n

The value of agricultural and fisheries exports in the first month of 2023 was $1.902 billion<\/strong>, reflecting an annual increase of 9.8%.<\/p>\n\n\n\n

The most significant increases in this area were recorded in exports of cattle (43.1%), peppers (33.9%), cucumbers (31.8%), fresh vegetables (24.3%), and tomatoes (14.4%). <\/strong><\/p>\n\n\n\n

In contrast, the most significant annual contractions were seen in avocado exports (-25.2%) and frozen shrimp (-20.9%).<\/strong><\/p>\n\n\n\n

Thus, during January 2023, the export value structure was as follows: manufactured goods, 87.6%; petroleum products, 6.4%; agricultural goods, 4.5%; and non-oil extractive products, 1.5%.<\/strong><\/p>\n\n\n\n

Moving on to the middle of the year…<\/h3>\n\n\n\n

During June 2023, the value of merchandise exports reached $51.8 billion<\/strong>, comprising $48.95 billion in non-oil exports and $2.851 billion in oil exports.<\/p>\n\n\n\n

During this time of the year, exports of manufactured products amounted to $46.025 billion, representing an annual growth of 2.7%. The most significant expansions were observed in exports of professional and scientific equipment (22.6%), food, beverages, and tobacco (13.5%), electrical and electronic equipment (11.0%), automotive products (9.5%), and textile products, clothing, and leather industry (5.1%).<\/strong><\/p>\n\n\n\n

Additionally, the annual increase in automotive product exports was due to increases of 6.9% in sales to the United States and 25.9% in sales to other markets.<\/p>\n\n\n\n

Regarding the value of agricultural and fisheries exports in the sixth month of the current year, it was $1.865 billion, reflecting an annual increase of 5.1%.<\/strong><\/p>\n\n\n\n

The most significant growths in this sector were recorded in exports of fresh strawberries (82.2%), cattle (33.2%), fresh vegetables (25.1%), grapes and raisins (23.0%), and tomatoes (10.6%).<\/strong> In contrast, the most significant annual contractions were seen in exports of raw coffee beans (-29.3%) and avocados (-21.2%).<\/p>\n\n\n\n

Some specific data:<\/h2>\n\n\n\n