Mexico has consistently been one of the top two trading partners for the United States. The two countries share a long history of supply chain integration, including especially in the automotive, electronics, medical devices, and textiles industries. Most recently, in 2024, Mexico was the second-largest destination for U.S. exports and the top source of U.S. imports. In 2024, over 80 percent of total Mexican goods exports were to the United States and over 40 percent of total Mexican goods imports were from the United States.
The United States’ leading exports to Mexico are electrical machinery, machinery, energy products, vehicles, and plastics, together with over $30 billion in agricultural products, including corn, pork and pork products, dairy products, and soybeans. Mexico’s leading exports to the United States are vehicles, machinery, electrical machinery, and medical devices, together with over $48 billion in agricultural products, including fresh vegetables, beer, distilled spirits, and fresh fruit.
Mexico Trade Summary
U.S. total goods trade with Mexico was an estimated $839.9 billion in 2024. U.S. goods exports to Mexico in 2024 were $334.0 billion, up 3.5 percent ($11.3 billion) from 2023. U.S. goods imports from Mexico in 2024 totaled $505.9 billion, up 6.4 percent ($30.6 billion) from 2023. The U.S. goods trade deficit was $171.8 billion in 2024, a 12.7 percent increase ($19.3 billion) over 2023.
Trade in services with Mexico (exports and imports) totaled an estimated $88.8 billion in 2023 (latest data available). Services exports were $44.1 billion; services imports were $44.8 billion. The U.S. services trade deficit with Mexico was $722 million in 2023 (latest data available).
Free Trade Agreement
The United States and Mexico, together with Canada, are parties to the United States-Mexico-Canada Agreement (USMCA), which entered into force on July 1, 2020. The USMCA, which replaced the North America Free Trade Agreement (NAFTA), undergirds the nearly $2 trillion in U.S. goods and services trade within the region, with comprehensive rules that are subject to dispute settlement. The USMCA also includes several provisions to support trilateral cooperation against non-market distortions.
Other Trade and Investment Instruments
Prior to the USMCA, the United States, Canada, and Mexico were Parties to the North American Free Trade Agreement (NAFTA), which went into effect in 1994 and was replaced by the USMCA.
