Officially the United Mexican States, Mexico imported US$571.8 billion worth of products from around the globe in 2024.

That projected dollar amount results from a 49.3% advance compared to $383 billion five years earlier during 2020.

From 2023 to 2024, the total value of Mexican import purchases reduced by -4.5% starting from $598.5 billion.

Based on the average exchange rate for 2024, the Mexican peso appreciated by 2.8% against the US dollar from 2023 to 2024. Mexico’s stronger local currency makes its imports paid for in weaker US dollars relatively less expensive when converted starting from the Mexican peso.

Where Mexico’s Imports Come From

The latest available country-specific data from 2023 shows that 85.8% of products imported by Mexico was sold by exporters in: United States of America (42.8% of the Mexican total), mainland China (19.1%), Germany (3.5%), Japan (3.4%), South Korea (3.3%), Taiwan (2.4%), Brazil (2.24%), Canada (2.19%), Malaysia (2%), Vietnam (1.9%), Thailand (1.46%) and Italy (1.44%).

From a continental perspective, approaching half (45.3%) of Mexico’s total imports by value in 2024 was purchased from fellow North American entities namely the United States of America and Canada. Trade partners in Asia satisfied 37.8% of Mexican import purchases while another 12.2% worth originated from Europe.

Smaller percentages came from suppliers in Latin America (4.3%) plus the Caribbean, Africa (0.3%), then Oceania (0.2%) led by Australia and New Zealand.

Given Mexico’s population of 132.3 million people, its total $571.8 billion in 2024 imports translates to roughly $4,300 in yearly product demand from every person in the southernmost North American country. That dollar metric lags the average $4,550 per capita for 2023.

Mexico’s Top 10 Imports

The following product groups represent the highest dollar value in Mexico’s import purchases during 2024. Also shown is the percentage share each product category represents in terms of overall imports into Mexico.

1. Electrical machinery, equipment: US$107.8 billion (18.8% of total imports)
2. Machinery including computers: $96.1 billion (16.8%)
3. Vehicles: $62.6 billion (11%)
4. Mineral fuels including oil: $43.1 billion (7.5%)
5. Plastics, plastic articles: $30.1 billion (5.3%)
6. Optical, technical, medical apparatus: $17.8 billion (3.1%)
7. Iron, steel: $15.9 billion (2.8%)
8. Articles of iron or steel: $12.8 billion (2.2%)
9. Organic chemicals: $9.7 billion (1.7%)
10. Pharmaceuticals: $8.7 billion (1.5%)

Mexico’s top 10 imported product categories approached three-quarters (70.7%) of the overall value of its product purchases from other countries.

The strongest growth among Mexico’s leading imported product categories belonged to Mexican purchases of pharmaceuticals (up 12.8% from 2023), optical, technical and medical apparatus (up 7.8%), then vehicles (up 2.2%).

Double-digit decliners were Mexican imports of iron and steel (down -26.3% from 2023), organic chemicals (down -11.9%) then electrical machinery and equipment (down -11.2%).

Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level.

The research below presents a more detailed view of imported goods at the four-digit HTS code level.

From the four-digit HTS code perspective, Mexican buyers spent the most on imported on processed petroleum oils (6.1% of Mexico’s total imports), automobile parts or accessories (6%), electronic integrated circuits (3.5%), cars (2.9%), computer parts or accessories (also 2.9%), phone devices including smartphones (2.4%), computers including optical readers (1.9%), lower-voltage switches or fuses (1.2%), petroleum gases (also 1.2%), then insulated wire or cable (1.1%).

Mexico’s Imports of Electrical Products

Mexican importers spent the most on the following 10 subcategories of electronic equipment including consumer electronics.

1. Integrated circuits/microassemblies: US$20 billion (down -16.9% from 2023)
2. Phone devices including smartphones: $13.5 billion (down -16.9%)
3. Lower-voltage switches, fuses: $6.9 billion (down -14.6%)
4. Insulated wire/cable: $6.5 billion (down -16.7%)
5. Electric storage batteries: $6.2 billion (up 29.8%)
6. Unrecorded sound media: $5.7 billion (up 91.8%)
7. Electrical converters/power units: $5 billion (down -16%)
8. Flat panel displays: $4.8 billion (2023 data unavailable)
9. Electric circuit parts, fuses, switches: $3.7 billion (down -26.8%)
10. TV receivers/monitors/projectors: $3.2 billion (up 120.7%)

Among these import subcategories, Mexican purchases of television receivers, monitors and projectors (up 120.7%), unrecorded sound media (up 91.8%), then electric storage batteries (up 29.8%) grew from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported electronics among Mexican businesses and consumers.

Mexico’s Imports of Machinery Including Computers

Mexican importers spent the most on the following 10 subcategories of machinery including computers.

1. Computer parts, accessories: US$16.4 billion (up 49.6% from 2023)
2. Computers, optical readers: $10.8 billion (up 7.8%)
3. Air or vacuum pumps: $5 billion (up 2.7%)
4. Miscellaneous machinery: $4.82 billion (up 7.9%)
5. Engines (diesel): $4.8 billion (down -28%)
6. Piston engines: $4 billion (up 3.1%)
7. Taps, valves, similar appliances: $3.9 billion (down -11.8%)
8. Piston engine parts: $3.8 billion (down -13.6%)
9. Transmission shafts, gears, clutches: $3.1 billion (down -20.4%)
10. Liquid pumps and elevators: $3 billion (down -5.1%)

Among these import subcategories, Mexican purchases of computer parts or accessories (up 49.6%), miscellaneous machinery (up 7.9%), then computers or optical readers (up 7.8%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported machinery among Mexican businesses and consumers.

Mexico’s Imports of Vehicles and Related Products

Mexican importers spent the most on the following 10 subcategories of vehicles.

1. Automobile parts/accessories: US$34.1 billion (up 5.5% from 2023)
2. Cars: $16.7 billion (down -5.8%)
3. Trucks: $5.2 billion (up 51.2%)
4. Motorcycles: $1.9 billion (up 233.7%)
5. Trailers: $1.4 billion (down -23.7%)
6. Tractors: $1.2 billion (up 10.9%)
7. Public-transport vehicles: $673 million (up 218%)
8. Special purpose vehicles: $554.7 million (up 116.3%)
9. Motorcycle parts/accessories: $322.5 million (down -51.1%)
10. Chassis fitted with engine: $297.4 million (up 211.8%)

Among these import subcategories, Mexican purchases of motorcycles (up 233.7%), public-transport vehicles (up 218%), then chassis fitted with engine (up 211.8%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of imported vehicles among Mexican businesses and consumers.

Mexico’s Imports of Mineral Fuels and Related Products

Mexican importers spent the most on the following 10 subcategories of mineral fuels-related products.

1. Processed petroleum oils: US$34.8 billion (up 13.1% from 2023)
2. Petroleum gases: $6.8 billion (down -27%)
3. Coal, solid fuels made from coal: $474.4 million (up 3,096%)
4. Petroleum oil residues: $407.9 million (down -38.3%)
5. Petroleum jelly, mineral waxes: $272.4 million (down -3.6%)
6. Coke, semi-coke: $159.6 million (up 285.6%)
7. Coal tar oils (high temperature distillation): $114.3 million (up 9.9%)
8. Peat: $30.1 million (down -10.5%)
9. Asphalt/petroleum bitumen mixes: $5 million (up 96%)
10. Tar pitch, coke: $4.9 million (2023 data unavailable)

Among these import subcategories, Mexican purchases of coal including solid fuels made from coal (up 3,096%), coke or semi-coke (up 285.6%), then asphalt or petroleum bitumen mixes (up 96%) grew at the fastest pace from 2023 to 2024.

These amounts and the percentage gains within parenthesis clearly show where the strongest demand lies for different types of mineral fuels-related imports among Mexican businesses and consumers.
 

 

See also Mexico’s Top 10 Exports, Mexico’s Top Trading Partners, Mexico’s Top 10 Major Export Companies and United States Top 10 Imports

Research Sources:
Central Intelligence Agency, The World Factbook Country Profiles. Accessed on May 3, 2025

International Monetary Fund, Exchange Rates selected indicators (Domestic Currency per U.S. dollar, period average). Accessed on May 3, 2025

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on May 3, 2025

International Trade Centre, Trade Map. Accessed on May 3, 2025