Since the signing of the North American Free Trade Agreement, Mexico’s export sector has been strongly linked to the United States. Many of their primary imports are in fact machinery and parts to be used for the assembly of products to be shipped back over the border.
Mexico’s top exports are crude petroleum ($41 billion), cars ($33 billion), vehicle parts ($20 billion) and delivery trucks ($19 billion). The United States receives 80% of exports while Canada is the next highest at 3% followed by Germany at 1%.
Official Name (Local Language) | Estados Unidos Mexicanos | Capital | Mexico City | Population | 123,166,749 | Currency | Mexican Peso | GDP | $1,064 billion | Languages | Spanish | Telephone Dial In | 52 |
409,451
4,211
200
Country
Trade
% Partner Share
United States
327,358
79.95
Canada
11,376
2.78
Germany
6,950
1.70
China
6,713
1.64
Spain
4,245
1.04
Export Product
Number
Automobiles with reciprocating piston engine di
10.2%
Petroleum oils and oils obtained from bituminou
6.6%
Digital process units whether or not presented
6.0%
Telegraphic apparatus, nes
5.8%
Gas powered trucks with a GVW not exceeding fiv
4.9%
%
Product List
3.7%
Corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products
%
Industry List
33.1%
Food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism
%
Service list
63.2%
Trade finance is a revolving facility which some banks and specialist lenders offer – it enables SMEs to buy stock and can help ease the pressure from cash management.
Typically, a trade financier will fund up to 100% of the cost of the products, including charges (e.g. fees).
Trade finance offers upsides over more traditional bank finance like bridging mortgages or business loans. Trade finance provides up front funding without affecting existing relationships with banks.
How does it work?
If you’re a company importing or exporting inventory internationally, then a trade finance facility would allow you to fund this through offering a letter of credit or some form of cash advance.
I’m looking to import from Mexico, how can Trade Finance Global help, and how does it work?
If you are looking to import stock supplies from other markets, you may need import finance, which is an agreement between yourself (the importer) and the foreign exporter. A alternative financier will act as the intermediary, paying the foreign exporter on your behalf until you receive the goods and have then sold them to your buyer. Repaying the funder then happens over an agreed period of time.
Information
Importing from Mexico? Contact our local experts
Mexico Economic Statistics
https://en.presidencia.gob. mx/
https://countryeconomy. com/ratings/mexico
Banco de Mexico
18.34
3.6%
46.2%
2.8%
6.25%
$1,064 billion
$18,900
Mexican Peso
MXN
Upper Middle Income
51/138
135/180
54/190
51/136
Currency in Mexico