Petroleum Products Exports of Mexico in 2024: The Comprehensive Analysis of the Regulatory Shipments of 2024

Mexico has emerged as a top exporter of petroleum products due to its strategic location and abundant natural resources, fostering global trade for crude oil and its derivatives. Mexico Import Data says, the utmost production capacity of the refineries, over 2 million barrels per day, has made the country one of the top five producers of crude oil in the world. The petroleum exports account for around 12% of the nation’s total GDP value. The strong position in the international market for crude oil, accompanied by membership in OPEC, fuels the economic growth of the nation in international trade.

The access to favorable trade agreements and the increased bargaining power over prices, accompanied by the growing global demand for petroleum from different leading industries worldwide, has recorded an export trade value of 25 billion US dollars of petroleum from Mexico. Import Globals highlights all the crucial insights of the latest regulatory shipments of petroleum exports of the nation. The valuable information covered helps the business owners navigate the risks associated with the trade, promoting their understanding of the potential marketing strategies that can help them obtain affordable and valuable trade outputs for future market expansion.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT OF PETROLEUM PRODUCTS FROM MEXICO IN 2024

The Inter-Oceanic Corridor of the Isthmus of Tehuantelec connecting the Pacific and Atlantic Oceans via a 303 km radius between Salina Cruise and Vera Cruise has been contributing to the modernization of both ports, leading to the enhancement of nearby oil refineries. It has been facilitating the energy exports to Asia and is also working proactively for attracting private investment through the development of industrial parks, boosting economic activity, and export capacity.

The updated hydrocarbon export regulations facilitating the mandatory proof of composition and physicochemical properties for exported products, accompanied by the continuous adjustment of frequencies over the ships from monthly to quarterly or annual reports based on permit type, have been extending the validity of export permits ranging from 5 to 20 years. The utmost aim is to enhance the transparency, efficiency, and compliance in the hydrocarbon export sector. The diversification of crude oil exports, with over 25% tariffs imposed by the U.S. on Mexican crude oil, has been fueling the sector’s overall trade rate.

THE LEADING VARIANTS OF PETROLEUM PRODUCTS EXPORTED FROM MEXICO IN 2024

The growing energy demand from the global consumer base worldwide has induced Mexico to diversify its export services worldwide to counter the trade valuation by a positive rate. According to the Mexico Export Data, the top 10 leading variants of petroleum products exported from the nation in 2024 are,

  1. Crude Oil — Export trade value of Crude Oil from Mexico in 2024–4.3 billion US dollars
  2. Refined Petroleum — Export trade value of Refined Petroleum from Mexico in 2024–3.9 billion US dollars
  3. Liquefied Natural Gas — Export trade value of Liquefied Natural Gas from Mexico in 2024–2.87 billion US dollars
  4. Propane — Export trade value of Propane from Mexico in 2024–1.76 billion US dollars
  5. Naphtha — Export trade value of Naphtha from Mexico in 2024–1.65 billion US dollars
  6. Fuel Oil — Export trade value of Fuel Oil from Mexico in 2024–1.42 billion US dollars
  7. Propylene — Export trade value of Propylene from Mexico in 2024–1 billion US dollars
  8. Asphalt — Export trade value of Asphalt from Mexico in 2024–976 million US dollars
  9. Methanol — Export trade value of Methanol from Mexico in 2024–765 million US dollars
  10. Ethanol — Export trade value of Ethanol from Mexico in 2024–445 million US dollars

THE TOP 10 EXPORT TRADE PARTNERS OF MEXICO FOR PETROLEUM PRODUCTS IN 2024

The increase in integration of the regional supply due to the growing demand from central areas across the globe has fueled the trade relations of Mexico with leading importing destinations. According to the Mexico Customs Data, the top 10 export trade partners of the nation for petroleum products in 2024 are,

1. United States — The annual export trade value of petroleum products from Mexico to the United States in 2024–4.6 billion US dollars

Top 5 variants of petroleum products exported

1. Solvent deasphalting pitch

2. Diesel fuel

3. Jet fuel

4. Naphtha

5. Paraffin wax

2. China- The annual export trade value of petroleum products from Mexico to China in 2024–3.2 billion US dollars

Top 5 variants of petroleum products exported

1. Butanes

2. Propane

3. Rubber processing oils

4. Mineral spirits

5. High flash aromatic naphtha

3. Japan- The annual export trade value of petroleum products from Mexico to Japan in 2024–2.9 billion US dollars

Top 5 variants of petroleum products exported

1. Benzene

2. Styrene monomer

3. Ethanolamines

4. Dimethyl ether

5. Aromatics

4. South Korea- The annual export trade value of petroleum products from Mexico to South Korea in 2024–1.87 billion US dollars

Top 5 variants of petroleum products exported

1. Paraffin wax

2. Bitumen

3. Carbon black feedstock

4. Petroleum jelly

5. Benzene

5. India- The annual export trade value of petroleum products from Mexico to India in 2024–1.42 billion US dollars

Top 5 variants of petroleum products exported

1. Naphtha

2. Asphalt

3. Fuel oil

4. Jet fuel

5. Crude oil

  1. Kuwait- The annual export trade value of petroleum products from Mexico to Kuwait in 2024–1.3 billion US dollars

Top 5 variants of petroleum products exported

1. Propylene

2. Ethylene

3. Natural gas liquids

4. Liquefied Petroleum Gas (LPG)

5. Naphtha

7. Colombia- The annual export trade value of petroleum products from Mexico to Colombia in 2024–1 billion US dollars

Top 5 variants of petroleum products exported

1. Ethane derivatives

2. Nitrogen

3. Toluene

4. Benzene

5. Butadiene

8. Canada- The annual export trade value of petroleum products from Mexico to Canada in 2024–900 million US dollars

Top 5 variants of petroleum products exported

1. Petrochemical feedstocks

2. Carbon black feedstock

3. Lubricants

4. Asphalt

5. Naptha

9. Brazil- The annual export trade value of petroleum products from Mexico to Brazil in 2024–700 million US dollars

Top 5 variants of petroleum products exported

1. Natural gas liquids

2. Ethane

3. Propane

4. Pentanes Plus

5. Condensate

10. Spain- The annual export trade value of petroleum products from Mexico to Spain in 2024–500 million US dollars

Top 5 variants of petroleum products exported

1. Crude oil

2. Gasoline

3. Diesel

4. Jet fuel

5. Liquefied Petroleum Gas (LPG)

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