Chemicals Import of Mexico: The Trade Analysis of 2024

Mexico, in the southern part of North America, has been emerging as a leading importer of chemicals in the international trade market. The country, surrounded by the United States, the Pacific Ocean, Guatemala and Belize in the north-south and southeast direction, has recorded an increasing trajectory of chemical imports via the increase in domestic demand. Mexico Export Data says, the collapse of domestic chemical production and feedstock shortages has facilitated the production of different operations responsible for an adequate amount of chemical production in the industrial sector. Limited feedstock availability has contributed a substantial share.

The electronic sector, accompanied by the other manufacturing units, accounting for 20% of the GDP share, has been demanding a diversification of chemicals to produce the globally sought-after commodities relentlessly. The growing middle-class population of Mexico and the rising disposable incomes, with the exchange rate, market dynamics and policy measures has recorded an annual import trade value of chemicals worth 22 billion US dollars in 2024. Import Globals Mexico Trade Data provides a brief overview of the total amount of chemicals imported into the nation to help business holders adapt to the strategies that can get them a beneficial outcome in their future trade aspects.

GOVERNMENT INITIATIVES SUPPORTING THE IMPORT OF CHEMICALS IN MEXICO IN 2024

The Government Authorities of Mexico enhance the tech sufficiency and logistic capacity of the import sector. The updated CICOPLAFEST, i.e., the Control of Pesticides, Fertilizers, and Toxic Substances Reform, has enhanced the environmental oversight by streamlining the compliance for genuine importers. It has reduced the administrative delays while improving the predictability of the authorities.

The Temporary Import Duty Tariff and Suspension of Rule 8 have introduced 5–50% import tariffs on specific goods, including chemicals. This initiative has raised the costs of some inputs while boosting the annual import value. Despite the statistical price increase, the restriction on 68 petrochemical products has formalized the approval processes for legitimate industrial users. The Plan Mexico Proposal and IMMEX 4.0 have enhanced tax breaks and have simplified the procedures under IMMEX for diversifying the chemical volumes in localized productions.

THE LEADING VARIANTS OF CHEMICALS IMPORTED IN MEXICO IN 2024

Mexico’s growing domestic demand for chemicals has led to active diversification in the ongoing imports. The valuable pricing strategies offered have attracted most of the foreign supplies. According to the Mexico Import Data, the top 10 leading variants of chemicals imported in the nation in 2024 are,

  • Organic chemicals — The total annual valuation of Organic chemicals imported in Mexico in 2024–6.54 billion US dollars
  • Miscellaneous chemical products– The total annual valuation of Miscellaneous chemical products imported in Mexico in 2024–5.24 billion US dollars
  • Nitrates — The total annual valuation of Nitrates imported in Mexico in 2024–4.78 billion US dollars
  • Thiosulphates — The total annual valuation of Thiosulphates imported in Mexico in 2024–3.98 billion US dollars
  • Silicates — The total annual valuation of Silicates imported in Mexico in 2024–2.76 billion US dollars
  • NPK fertilizers — The total annual valuation of NPK fertilizers imported in Mexico in 2024–1.87 billion US dollars
  • Pharmaceutical intermediates — The total annual valuation of Pharmaceutical intermediates imported in Mexico in 2024–1.25 billion US dollars
  • Petrochemicals — The total annual valuation of Petrochemicals imported in Mexico in 2024–1.08 billion US dollars
  • Rubbers and rubber chemicals — The total annual valuation of Rubbers and rubber chemicals imported in Mexico in 2024–1 billion US dollars
  • Hydrocarbons — The total annual valuation of Hydrocarbons imported in Mexico in 2024–786 million US dollars

TOP 10 IMPORT TRADE PARTNERS OF MEXICO IN 2024

The strategic geographical location of the nation within the emerging markets and the stable bilateral relations have contributed to the overall growth rate in import revenue. According to the Mexico Customs Data, the top 10 import trade partners of the nation in 2024 are,

  1. United States — The annual valuation of chemicals imported in Mexico from the United States in 2024–7.65 billion US dollars

Top 5 variants of chemicals imported

1. Sodium hydroxide

2. Potassium hydroxide

3. Sodium peroxide

4. Inorganic acids

5. Cyanides

2. China — The annual valuation of chemicals imported in Mexico from China in 2024–5.46 billion US dollars

Top 5 variants of chemicals imported

1. Sulfonated hydrocarbons

2. Nitrated hydrocarbons

3. Hydrazine derivatives

4. Hydroxylamine derivatives

5. Acyclic hydrocarbons

3. Germany– The annual valuation of chemicals imported in Mexico from Germany in 2024–4.87 billion US dollars

Top 5 variants of chemicals imported

1. Esters of inorganic acids

2. Diazo compounds

3. Azo compounds

4. Azoxy compounds

5. Sulphonamides

4. Japan — The annual valuation of chemicals imported in Mexico from Japan in 2024–3.21 billion US dollars

Top 5 variants of chemicals imported

1. Steroid derivatives

2. Phosphoric esters

3. Cyclic hydrocarbons

4. Nitrile-function compounds

5. Glycosides

5. South Korea — The annual valuation of chemicals imported in Mexico from South Korea in 2024–2.78 billion US dollars

Top 5 variants of chemicals imported

1. Imine compounds

2. Cyclic alcohols

3. Nitrogen functional compounds

4. Aldehydes

5. Hormones

6. Taiwan — The annual valuation of chemicals imported in Mexico from Taiwan in 2024–2.12 billion US dollars

Top 5 variants of chemicals imported

1. Organo-inorganic compounds

2. Carboxyamides

3. Imide-function compounds

4. Ether derivatives

5. Phenol derivatives

7. Brazil — The annual valuation of chemicals imported in Mexico from Brazil in 2024–1.87 billion US dollars

Top 5 variants of chemicals imported

1. Heterocyclic oxygen compounds

2. Amine-function compounds

3. Acyclic alcohols

4. Ketone derivatives

5. Quinone derivatives

8. Canada — The annual valuation of chemicals imported in Mexico from Canada in 2024–1.21 billion US dollars

Top 5 variants of chemicals imported

1. Organo-sulfur compounds

2. Provitamin derivatives

3. Vitamin derivatives

4. Polycarboxylic acids

5. Saturated monocarboxylic acids

9. Malaysia — The annual valuation of chemicals imported in Mexico from Malaysia in 2024–1 billion US dollars

Top 5 variants of chemicals imported

1. Acid halides

2. Peroxides

3. Antibiotics

4. Halogenated hydrocarbons

5. Unsaturated monocarboxylic acids

10. Vietnam — The annual valuation of chemicals imported in Mexico from Vietnam in 2024–765 million US dollars

Top 5 variants of chemicals imported

1. Heterocyclic nitrogen compounds

2. Nucleic acid derivatives

3. Oxygen-function amino-compounds

4. Carboxylic acids and derivatives

5. Anhydrides

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