Posted February 16, 2021
Do you want to export to Mexico? Start by using the Country Commercial Guide, a trusted resource for companies at every level of exporting experience. Our guides are produced by trade experts at U.S. embassies and consulates in more than 140 countries. They provide insights into economic conditions, leading sectors, selling techniques, customs, regulations, standards, business travel, and more. Read the overview below, and continue using the left navigation tool. In addition, visit our United States-Mexico-Canada Agreement (USMCA) website at trade.gov/usmca.
Last published date: 2020-08-17
There are four key reasons why U.S. companies should consider exporting to Mexico:
- Mexico is the 15th-largest economy in the world with further growth potential from its young population (median age 28).Given Mexico’s large, diversified market, most
- U.S. products and services have ample opportunities. The new U.S.–Mexico–Canada Agreement (USMCA, see below) seeks to generate even more opportunities for U.S. companies.
- Mexico has generally enjoyed stable economic growth since the 1990s, despite weakening in 2019 and a COVID-linked recession in 2020.
- Close cultural, social, and economic ties make Mexico a natural market to consider for first-time and expanding exporters.
Mexico’s USD 1.3 trillion economy is the second-largest economy in Latin America and the 15th-largest economy in the world. Mexico has a large, diversified economy that is linked to its deep trade and investment relations with the United States. Mexico is an upper–middle-income G-20 and OECD member with a per capita GDP of USD 10,118. Still, Mexico’s 2.5 percent average annual GDP growth rate since the signing of NAFTA in 1993 has been slower than most emerging markets, due in part to its high rates of labor informality (57 percent), poverty (43 percent), and declining oil production. With deepening of the COVID pandemic and economic contraction in the U.S. and world markets, some analysts forecast a real reduction in Mexican GDP of 10 percent to 12 percent by mid–2021.