Photo: Secretaría de Comunicaciones y Transportes.
In 2024, Mexico closed the year with a record trade deficit of 119.86 billion U.S. dollars in its commercial exchange with China, according to data from the National Institute of Statistics and Geography (INEGI). Mexican exports to China amounted to nearly 10 billion dollars, while imports from the Asian country surpassed 130 billion dollars.
Over the past decade, the trade gap between the two countries has doubled, fueled by the steady increase in Mexico’s imports of Chinese consumer goods and machinery. Meanwhile, Mexican exports to China have grown at a much slower pace. In April 2025 alone, the monthly trade deficit reached 9.52 billion dollars.
Analysts warn that this trend may deepen Mexico’s reliance on its second-largest trading partner, posing structural challenges for national industries. In response, the Mexican government has expressed its commitment to strengthening export capacity and implementing import substitution strategies, particularly in sectors where competition with Chinese products is most intense.
Finance Minister Rogelio Ramírez de la O stated that these measures are part of a broader plan to address structural imbalances in Mexico’s trade relationship with China. However, experts note that the competitive pricing and volume of Chinese exports will continue to influence trade dynamics for the foreseeable future.
* Original text in Spanish. Translated by Large Language Model (LLM) technology.
Main Source:
México registró balanza comercial con China deficitaria con un saldo US$120 millones – La República
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