US–Mexico Trade: $661.3 Billion (2021) – #2 Partner After Canada
In 2021, total bilateral trade (goods + services) between the United States and Mexico reached $661.3 billion—a 25% jump from 2020 ($529B), making Mexico the United States' second-largest trading partner (after Canada, $760B).
Goods Trade Breakdown (2021, Census Basis)
| Direction | Value | Top Categories |
|---|
| US → Mexico Exports | $276.5B | Refined petroleum, motor vehicle parts, computer chips, natural gas, plastics, soybeans, corn, machinery, medical instruments |
| Mexico → US Imports | $384.7B | Vehicles/parts, computers, TVs, crude oil, medical instruments, beer, avocados, berries, tomatoes, auto parts |
| Goods Deficit (US) | $108.2B | |
Services Trade (2021)
- US exports to Mexico: $34.2B (travel, transport, IP, financial, telecom).
- Mexico exports to US: $22.1B (travel, transport, business services).
- US services surplus: $12.1B.
Structural Dynamics
- Supply Chain Integration: 40% of US imports from Mexico contain US-made content (vs. 4% from China). "Production sharing" – parts cross border 6–8x.
- Automotive: Core. USMCA (2020) raised Regional Value Content to 75%, Labor Value Content (LVC) $16/hr for 40–45% of auto content.
- Energy: US exports gasoline, diesel, natural gas to Mexico; imports Mexican crude (Maya, Isthmus).
- Agriculture: US → corn, soy, pork, dairy. Mexico → avocados, berries, tomatoes, peppers, beer (Modelo, Corona = top US beer imports).
- Border Infrastructure: 25 land POEs; Laredo #1 inland port ($280B). Wait times, staffing, tech (CBP One) critical.
2023 Update
Full-year 2023 goods trade: $798.8B (Mexico #1 partner, surpassing Canada). Exports $323B, Imports $475B. Nearshoring, EV supply chains, CHIPS Act driving growth.
US–Mexico trade isn't just big—it's deeply integrated production. A car crosses the border 8 times before sale. An avocado travels 2 days from Michoacán to Chicago. This is North America's shared factory floor.
Wanderlust World