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Bilateral trade

 

In 2020, the European Union was Mexico's 3rd trading partner, after the United States (USD 506.9 billion) and China (USD 81.5 billion), accounting for 7.8% of the country's total trade. Mexico, in turn, is the EU's 11th trading partner, accounting for 1.5% of its foreign trade.1

Since the entry into force of the Global Agreement, trade in goods between the two sides registered a sustained growth; however, the COVID-19 pandemic resulted in a reduction of trade levels between both partners, going from USD 75 billion in 2019 to USD 62.6 billion in 2020. Similarly, exports declined from USD 24.2 billion to USD 18.7 mmd, while imports went from USD 51.2 billion to USD 41.8 mmd.2

 

Mexico's main export products to the EU (2019) were: transport vehicles, mainly automobiles (USD 6.5 billion); machinery (3 billion); household appliances (2.7 billion); mineral products (1.3 billion); and optical and photographic instruments (0.8 billion).3 66% of Mexican exports to the EU are made up of manufactures.4

With respect to agricultural products, the main export products to the EU (2019) were avocados (USD 184 million), coffee (97 million), fruit juices (93 million), frozen fish (52 million); fruit preserves (43 million); berries (37 million); citrus (32 million) and bananas (16 million). Beer exports were worth 179 million and tequila was also exported for 120 million.5

In turn, the main products that Mexico imports from the EU (2020) were: machinery (engines, turbines, etc., USD 4.7 billion); vehicles and auto parts (3.2 billion), electrical appliances (3.1 billion); pharmaceuticals (1.4 billion); medical devices (1.2 billion) and perfumery/beauty products (1 billion).6

Mexico's main trading partners in Europe (2020) were: Germany (USD 20.4 billion), Spain (7 billion), Italy (6 billion), France (4.6 billion), United Kingdom (4.4 billion), Netherlands (4 billion) and Belgium (2.4 billion).

 

1 Source: http://ec.europa.eu/trade/policy/countries-and-regions/countries/mexico/  
2 Own calculation with data from the Ministry of Economy of Mexico. 
3 Source: Trademap, Mexico's exports to the EU.
4 Source: DG Trade (top 5 SITC sections, imports from Mexico)
5 Source: Trademap; Mexico's exports to the EU.
6 Source: Trademap, EU exports to Mexico.