Mexico showed progress in the Export Diversification Index during 2024, according to data from the Ministry of Economy. 

The indicator assesses how diversified the country’s export supply is in international markets.

It is calculated based on the Herfindahl-Hirschman concentration index, which uses information from the Bank of Mexico on exports at the tariff subheading level. In this system, a lower value reflects less concentration and, therefore, greater diversification.

Export Diversification Index

According to the Ministry of Economy, Mexico achieved greater diversification in its exports during 2024. The Export Diversification Index reached a value of 121.6, lower than the 127.9 recorded in 2023, reflecting lower trade concentration.

Supported by its trade policy, the country achieved record levels in foreign trade, with total trade of $1 trillion 253.895 billion. Of that figure, $617.677 billion corresponded to exports and $636.218 billion to imports.

In comparison, in 2023, total trade was $1 trillion 198.281 billion, with exports of $593.001 billion and imports of $605.280 billion. Thus, between 2023 and 2024, trade grew by 4.6%, exports by 4.2%, and imports by 5.1%, consolidating the expansion of Mexico’s external sector.

Mexico’s foreign trade

According to the World Trade Organization (WTO), Mexico ranked among the world’s top 10 exporting and importing economies in 2024. During the first half of 2025, the country exported US$312.728 billion, an increase of 4.4% over the same period last year.

Imports, meanwhile, totaled $311.295 billion, with more moderate growth of 0.2%. As a result, Mexico’s trade balance showed a surplus of $1.433 billion, a significant recovery from the $10.916 billion deficit recorded a year earlier.

In July 2025, product exports grew 4% year-on-year, reaching $56.7078 billion, driven by the dynamism of manufacturing, which now accounts for 92.3% of the total and increased 5.3% in the month.

In contrast, imports totaled $56.7245 billion, leaving a marginal deficit of $16.7 million in the trade balance. Mexico thus maintains solid performance in foreign trade, supported by the strength of its manufacturing sector.