Top 10 exporting states in 2022; Chihuahua leads the ranking
2022 was a year in which exports stood out within the national economic ecosystem. According to data from the National Institute of Statistics and Geography (Inegi), by October of this year the value of merchandise exports reached a total of 49.275 billion dollars, representing an annual advance of 17.7 percent.
Paulina Aguilar, co-founder and director of Mundi, commented that although the world is going through a context of economic instability, the Mexican export sector has been strengthened by various factors. “Mexican exports have reflected the strength we have as a country. The arrival of manufacturing companies with nearshoring, the trade war between the United States and China, the geographical position, human talent and the different free trade agreements, have turned Mexico into an ideal territory for the manufacturing industry”.
Mexico’s northern states, the country’s leading exporters:
Based on research conducted by Mundi, the states located on the northern border (Baja California, Chihuahua, Coahuila, Nuevo Leon, Sonora and Tamaulipas) contributed 57.54% of total exports during the first quarter of 2022.
In contrast, the south-southeastern states (Campeche, Chiapas, Guerrero, Oaxaca, Quintana Roo, Tabasco, Veracruz and Yucatán) accounted for only 8.75% of the country’s total merchandise exports.
As for the center of the country, only Guanajuato stands out with a contribution of 6.14%, within the first 10 states with the highest exports.
Top 10 exporting states in 2022
- Chihuahua
- Coahuila
- Baja California
- Nuevo León
- Tamaulipas
- Guanajuato
- Sonora
- Jalisco
- Estado de México
- Campeche
“Mexico’s exports, which used to be led by oil, are now diversifying into automobiles, auto parts, computers, vehicles for personal and transportation goods, among others. This greatly favors the Mexican economy. The manufacturing industry accounts for almost 15% of the country’s exports, and this has a huge potential to continue growing; many transnational companies are setting up their plants in Mexico to replace their supply chains that were in Asia,” added Aguilar.
Main destinations for Mexican exports
During the first half of the year, data from the Bank of Mexico indicated that, of the total of these exports, only four countries accounted for 87.5% of purchases.
The United States accounted for 81.5% of the total, while Canada (2.8%), China (1.9%) and Germany (1.3%) stood out as the main buyers.
African countries as a whole accounted for 0.2% of the total purchases of products from Mexico to foreign countries; the same was the case for nations located in Oceania.
“Exports are fundamental to the country’s current economic dynamism. Due to the diversity of products, manufacturing efficiency and the geographical position of the national territory, Mexico is one of the world’s leading exporters and it is important that the companies in charge of producing and selling abroad have digital tools such as factoring, which provides them with financial certainty and allows them to focus on continuing to grow their production, advancing a high percentage of their invoices receivable,” said Martin Pustilnick, CEO and co-founder of Mundi.
Source: Mexico Industry
