Top 10 states for international trade revenues in Mexico
Tamaulipas, Veracruz and Colima are the Mexican states that recorded the highest revenues from international trade operations in Mexico during 2022, according to data from the Ministry of Finance and Public Credit (SHCP).
Tamaulipas’ collection was 286.18 billion pesos and represented 0.26% of total collection.
This was followed by Veracruz (187,070 million pesos) and Colima (153,710 million pesos).
In order to achieve trade policy objectives, Mexico’s Executive Branch may decree measures to regulate foreign trade in an expeditious manner and if it deems it «urgent».
For example, it can modify nomenclature and tariff rates, and restrict or prohibit imports and exports (or transit) of goods.
Top states
Other states noted for collection in foreign trade are: Michoacán, Mexico City, Baja California, Nuevo León, Chihuahua, Estado de México and Sonora.
Since 2017, the Executive Branch has decreed: the increase of tariff rates to defend the interests of the domestic steel, aluminum, footwear, and textile and apparel industries; and the modification of the tariff nomenclature so that it can be better interpreted, with the objective of providing foreign trade operators with greater clarity regarding requests for tariff concessions or the implementation of new trade agreements.
In addition, the Executive Branch has decided to exempt from tariffs imports of electric vehicles (to comply with obligations under the Paris Agreement) and in 2021, vaccines against the SARS-CoV-2 virus and aluminum oxygen tanks in the wake of the pandemic.
In addition, the import and export of pesticides and electric cigarettes and similar electric personal vaporization devices have been banned to protect human health and the environment.
Mexico created its National Trade Facilitation Committee in 2021, in order to comply with Article 23.2 of the Trade Facilitation Agreement.
VUCEM
Through the Committee, the Ministry of Economy has achieved a close relationship between the different agencies and bodies of the Federal Public Administration that have competence in foreign trade matters.
Based on this, an agenda is being consolidated to comply with the objectives of the Trade Facilitation Agreement and thus continue working on measures and actions that contribute to the reduction of costs and ease for economic operators; among others, we are working on the incorporation of the procedures of the Ministry of Defense to the VUCEM, so far half of the procedures have already been incorporated.
