United States and Mexico
The United States and Mexico form a shared production platform and must jointly manage their border. The automotive sector, agriculture, employment and security connect national decisions with immediate consequences on the other side.
Analysis reviewed: 2026-10-06 · Indicators updated: 2026-10-07Bilateral indicators
Blank cells: data unavailable.
| Indicator | Value | Period |
|---|---|---|
| Goods trade | 871,596.6 M USD | 2025 · Census |
| Goods: United States to Mexico | 337,281.7 M USD | 2025 · Census |
| Goods: Mexico to United States | 534,314.9 M USD | 2025 · Census |
| Services trade | 92,500 M USD | 2025 · USTR |
| Export share: United States to Mexico | 15.47 % | 2025 · Census |
| Export share: Mexico to United States | >80 % | 2024 · USTR |
| Investment stock: United States in Mexico | 168,849 M USDBEA est. | 2025 · BEA |
| Investment stock: Mexico in United States | 48,749 M USDBEA est. | 2025 · BEA |
Definitions and sources
Trade adds both directions. Shares refer to the country’s total goods exports; investment is an accumulated stock, not an annual flow. Every figure retains the currency and period of its source. BEA positions are historical-cost estimates based on the immediate counterpart, not market values or investment by ultimate owner. ‘More than’ indicates a lower bound, not an exact amount. A recorded stock does not establish new activity or authorisation to operate under sanctions.
- Goods trade
- 2025 · U.S. Census Bureau · Full calendar year; goods; nominal USD; not seasonally adjusted. U.S. reporting. The total is calculated by adding exports and imports. Revisions may differ from rounding in other sources.
- Goods: United States to Mexico
- 2025 · U.S. Census Bureau · Full calendar year; goods; nominal USD; not seasonally adjusted. U.S. reporting. The total is calculated by adding exports and imports. Revisions may differ from rounding in other sources.
- Goods: Mexico to United States
- 2025 · U.S. Census Bureau · Full calendar year; goods; nominal USD; not seasonally adjusted. U.S. reporting. The total is calculated by adding exports and imports. Revisions may differ from rounding in other sources.
- Services trade
- 2025 · USTR
- Export share: United States to Mexico
- 2025 · U.S. Census Bureau · Calculated share: U.S. exports to the partner (goods row in this table) / U.S. goods exports to the world. Same Census reporting, year 2025 and millions of USD, not seasonally adjusted. Excludes services.
- Export share: Mexico to United States
- 2024 · USTR
- Investment stock: United States in Mexico
- 2025 · U.S. Bureau of Economic Analysis (BEA) · Direct investment position at historical cost; immediate host economy or country of the foreign parent, not ultimate owner. Statistical estimate, year-end. Not an annual flow, market value or authorisation to operate with sanctioned entities. · Position!G92
- Investment stock: Mexico in United States
- 2025 · U.S. Bureau of Economic Analysis (BEA) · Direct investment position at historical cost; immediate host economy or country of the foreign parent, not ultimate owner. Statistical estimate, year-end. Not an annual flow, market value or authorisation to operate with sanctioned entities. · Position!G74
Country comparison
Period and source beside each figure · est. = estimate by the stated institution.
Year-on-year inflation: different periods or frequencies; the two figures are not directly comparable.
| Indicator | United States | Mexico |
|---|---|---|
| Nominal GDP | 30.77 trillion USD2025 · WB | 1.83 trillion USD2025 · WB |
| GDP per capita | 90,026.52 USD2025 · WB | 13,889.23 USD2025 · WB |
| GDP growth | 2.16 %2025 · WB | 0.56 %2025 · WB |
| Policy interest rate | 3.75–4 %2026-09-16 · Fed | 6.5 %2026-09-24 · Banxico |
| Inflation · annual average | 2.7 %IMF est.Annual average · 2025 · IMF | 3.81 %Annual average · 2025 · WB |
| Inflation · latest year-on-year figure | 3.4 %Year-on-year · Aug. 2026 · BLS | 3.42 %Year-on-year · first fortnight of Sept. 2026 · INEGI |
| Unemployment | 4.2 %ILO est.2025 · WB | 2.67 %ILO est.2025 · WB |
| Budget balance (% of GDP) | -6.8 %IMF est.2025 · IMF | -4.9 %IMF est.2025 · IMF |
| Gross public debt (% of GDP) | 123.9 %IMF est.2025 · IMF | 61.8 %IMF est.2025 · IMF |
| Current account balance (% of GDP) | -3.63 %2025 · WB | -0.45 %2025 · WB |
| Population | 341,784,8572025 · WB | 131,946,9002025 · WB |
| Area | 9,831,510 km²2023 · BM / FAO | 1,957,194 km²2023 · BM / FAO |
| Military expenditure | ||
| Military expenditure (% of GDP) |
Definitions, dates and sources
Blank cells are not zero. Average annual inflation and the latest year-on-year figure appear in separate rows: they are not the same measure. Every annual indicator retains its reference year; when the years differ, the figures are identified as not directly comparable. When a figure is unavailable from the World Bank, an annual IMF estimate is used and identified as such. The latest year-on-year figure is the latest official release verified as of 7 October 2026. This includes advance releases marked as provisional. Mexico may have a fortnightly figure before the full month is published; it is not automatically compared with a monthly figure. The publication date is retained in each source’s details; it does not replace the observation period or the annual average. Policy rates carry their own dates and represent different instruments. Spain and France share the ECB rate. Balances are positive for surpluses and negative for deficits. The IMF may use fiscal years; unemployment retains each source’s definition (ILO estimates, IMF WEO or PCBS), as stated in the details. For Palestine, debt and the fiscal balance cover central government and retain the PCBS definition; they are not presented as consolidated general government. These are economic magnitudes, not measures of relationship quality.
Area retains each source’s territorial coverage; it does not determine sovereignty or effective control. Canada uses an archived national geographic reference. Military expenditure retains the 2024 SIPRI sample distributed by the World Bank: the amount and percentage of GDP use that same definition, which differs from NATO’s. It is not an approved budget or a 2026 figure. Information from the Stockholm International Peace Research Institute (SIPRI). Military expenditure database · Terms of use0
Indicators reviewed: 2026-10-07. Each source retains its original access date; this review does not turn all the data into 2026 observations. Figures may be revised.
- Nominal GDP
- Current USDUnited States: 2025 · World BankMexico: 2025 · World Bank
- GDP per capita
- Current USD per personUnited States: 2025 · World BankMexico: 2025 · World Bank
- GDP growth
- Annual real change (%)United States: 2025 · World BankMexico: 2025 · World Bank
- Policy interest rate
- Central bank instrument (%)United States: 2026-09-16 · Federal funds target range · Federal ReserveMexico: 2026-09-24 · Overnight interbank rate target · Bank of Mexico
- Inflation · annual average
- Average annual change in headline CPI (%)United States: 2025 · Average annual change in headline CPI (%) · IMF — World Economic Outlook · IMF est. · WEO estimate; not the year-on-year change for December or August 2026. · Alternative official source; verified 2026-10-07Mexico: 2025 · Average annual CPI change (%) · World Bank
- Inflation · latest year-on-year figure
- Headline CPI relative to the same period of the previous year (%); monthly or fortnightly frequency statedUnited States: 2026-08 · Headline CPI change relative to the same month of the previous year (%) · U.S. Bureau of Labor Statistics · Published: 2026-09-11 · Headline year-on-year CPI-U, not seasonally adjusted; not monthly or core inflation.Mexico: 2026-09-Q1 · Headline CPI change relative to the same fortnight of the previous year (%) · INEGI · Published: 2026-09-24 · First fortnight of September relative to the same fortnight of 2025; not full-month September CPI or the 0.33% fortnightly change. The monthly September figure had not yet been published on the review date.
- Unemployment
- % of the labour force; definition used by the stated institutionUnited States: 2025 · World Bank · ILO est.Mexico: 2025 · World Bank · ILO est.
- Budget balance
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Mexico: 2025 · IMF — World Economic Outlook · IMF est.
- Gross public debt
- General government (% of GDP)United States: 2025 · IMF — World Economic Outlook · IMF est.Mexico: 2025 · IMF — World Economic Outlook · IMF est.
- Current account balance
- % of GDPUnited States: 2025 · World BankMexico: 2025 · World Bank
- Population
- PeopleUnited States: 2025 · World BankMexico: 2025 · World Bank
- Area
- Total area in km²; territorial coverage of the sourceUnited States: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAOMexico: 2023 · Total area including inland waters; territorial coverage of the source · World Bank · FAO
- Military expenditure
- Current USD per year; SIPRI series
- Military expenditure (% of GDP)
- Percentage of GDP; SIPRI definition, not NATO’s definition
Other data specific to this relationship
What they buy and sell
Documented selection, not an exhaustive list. Cells without a figure do not mean zero value; some products are identified without a verified amount.
United States to Mexico
| Product or sector | Value / share |
|---|---|
| Electrical machinery | |
| Machinery | |
| Energy products |
Mexico to United States
| Product or sector | Value / share |
|---|---|
| Vehicles | |
| Machinery | |
| Electrical machinery and medical devices |
How trade has changed
Billions of current USD · full calendar years
View chart figures
| Period | Total | United States to Mexico | Mexico to United States |
|---|---|---|---|
| 2021 | 659,763.9 | 277,194.6 | 382,569.3 |
| 2022 | 779,031.1 | 327,016.1 | 452,015 |
| 2023 | 797,324.6 | 324,425.9 | 472,898.7 |
| 2024 | 837,602.2 | 334,492.1 | 503,110.1 |
| 2025 | 871,596.6 | 337,281.7 | 534,314.9 |
How investment has changed
Billions of USD · Year-end stock · BEA estimates
View chart figures and sources
| Period | United States in Mexico | Mexico in United States |
|---|---|---|
| 2020 | 110,753 | 20,646 |
| 2021 | 119,947 | 27,925 |
| 2022 | 128,263 | 32,780 |
| 2023 | 135,867 | 38,546 |
| 2024 | 155,901 | 41,946 |
| 2025 | 168,849 | 48,749 |
Connections between people
Communities on both sides of the border maintain family and economic ties that extend beyond government meetings. Study offers another specific measure of mobility. Open Doors figures do not measure total migration, border crossings or people sending remittances. [5] [6] IIE / Open Doors 2025
Residents, study and travel
Blank cells: data unavailable. Each measure retains its definition and period.
| Indicator | Value | Period / source |
|---|---|---|
| Residents from United States living in Mexico | ||
| Residents from Mexico living in United States | ||
| Study and training: United States in Mexico | ||
| Study and training: Mexico in United StatesIncludes OPT training | 15,652 | 2024/25 · Open Doors |
| Academic stays: United States in MexicoAcademic credit | 4,430 | 2023/24 · Open Doors |
| Academic stays: Mexico in United States | ||
| Travel: United States to Mexico | ||
| Travel: Mexico to United StatesCountry of residence; visits of one or more nights | 17,980,030arrivalsprovisional | 2025 · NTTO |
What each figure measures
Residents are counted by nationality and the coverage of the stated register, not as people born in the other country or as new arrivals in one year. PERE includes dual nationals and people born outside Spain. Study with OPT and stays carrying academic credit are different measures. Travel may include several visits by the same person; FRONTUR arrivals require an overnight stay, whereas the Canadian survey includes day visits. These figures are neither added together nor automatically compared across directions.
- Study and training: Mexico in United States
- Open Doors total, including OPT participants. 2024/25 · Open Doors
- Academic stays: United States in Mexico
- Programmes carrying academic credit; not the total number of residents. 2023/24 · Open Doors
- Travel: Mexico to United States
- NTTO Annual!AC156. Arrivals, not unique individuals; visas and modes covered by the I-94 programme. Mexico includes the INEGI estimate. Data subject to revision, particularly for Canada and Mexico; the air-only row is not used. 2025 · NTTO
Mobility data added or reviewed: 2026-10-07. Reference periods may be earlier.
Underlying ties
History, institutions and long-standing issues.
From NAFTA to USMCA
NAFTA entered into force in 1994 and was replaced by USMCA on 1 July 2020. The agreement organises trade access and procedures for addressing differences. [4] [1]
Migration and transfers to families
Border cooperation also covers migration, transport, health and protection of displaced people. The historical U.S. profile describes work with Mexican bodies, regional institutions and humanitarian agencies. These issues show that managing the border is not limited to intercepting goods or fighting crime: it also involves migration procedures and services for people. [6]
Mexico received 61,791 million dollars in remittances from abroad in 2025, according to the Bank of Mexico. This is the total from all origin countries, not a bilateral figure wholly attributable to the United States. These transfers show the scale of transnational family ties and should be distinguished from goods and services trade. [5]
Recent developments
Recent developments and latest available data · Reviewed: 2026-10-06
Evolution of the bilateral framework
The 2026 review brings industrial, labour and agricultural rules back into discussion. [4] [1]
Shared production and unequal exposure
In 2025, goods and services trade reached an estimated 964,100 million dollars. Vehicles, machinery, electrical equipment and medical devices are among the goods Mexico sells to the United States; the latter supplies machinery, energy, plastics and agricultural products. These are sectors of complementarity as well as competition. [4]
More than 80% of Mexican goods exports went to the United States in 2024. Tariffs, changes in demand and access to the U.S. market therefore have exceptional importance for Mexico. This proportion measures export concentration, not a percentage of GDP or dependence of the entire economy. [4]
What is being discussed in the trade agreement
The July joint statement mentions vehicles, steel and aluminium, agriculture, electronic payments, labour and economic security. Rules of origin affect the components businesses use to access trade preferences. The outcomes of these negotiations can change costs and investment decisions on both sides. [1]
Border coordination
In September, the Mexican cabinet announced an anti-drone operation in Tijuana–San Diego with mirror actions within each country’s territory. This format allows surveillance coordination without general authorisation to deploy foreign forces. It is a specific example of border cooperation, not a description of the entirety of migration or security policy. [2]
A labour dispute with trade effects
In September, USTR asked Mexico to review an alleged denial of freedom of association and collective bargaining rights at a Yokohama facility in Coahuila. USMCA’s rapid response mechanism can address a specific plant and may have customs effects. This is an allegation under review, not a finding against the entire Mexican industry. [3]
Milestones and consequences
- 1994
TLCAN
NAFTA institutionalises North American trade opening and precedes the current USMCA framework. [4]
- 2020-07-01
USMCA
USMCA replaces NAFTA; its trade and labour rules influence factories, suppliers and workers in both countries. [4]
- 2026-07-23
Bilateral negotiation
Summary of the third round of the trade review. [1]
- 2026-09-25
Labour complaint
The United States requests a review of the Yokohama plant. [3]
Sources and data
Periods and scope of the figures
Export dependence refers to 2024 and the volumes to 2025. The same edition of USTR’s trade profile is used, without mixing its figures with other publications. A goods deficit does not summarise the whole exchange. Remittances are Mexico’s total from all origin countries. The archived migration framework provides institutional context, not a description of all entry rules currently in force.
- Joint Statement from Ambassador Jamieson Greer and Mexican Secretary of Economy Marcelo Ebrard | United States Trade Representative
USTR and Mexico’s Ministry of Economy · Institutional source · Document: 2026-07-23 · Accessed: 2026-10-06
- Report on a bilateral anti-drone operation in the Tijuana, B.C.–San Diego, California border area
Mexico’s Security Cabinet · Institutional source · Document: 2026-09-07 · Accessed: 2026-10-06
- United States Seeks Mexico’s Review of Alleged Denial of Workers’ Rights at Yokohama Tire Manufacturing Mexico, S.A. de C.V. | United States Trade Representative
USTR · Institutional source · Document: 2026-09-25 · Accessed: 2026-10-06
- U.S. trade with Mexico
USTR · Institutional source · Accessed: 2026-10-06
- Remittances received by Mexico in 2025
Bank of Mexico · Institutional source · Document: 2026-02-03 · Accessed: 2026-10-06
- Relations with Mexico: migration and border cooperation
Department of State — 2021–2025 archive · Institutional source · Accessed: 2026-10-06
Additional sources on products and human connections
- IIE / Open Doors 2025
2024/25; U.S. study-abroad stays 2023/24 · Accessed: 2026-10-06.
- USTR
2024 · Accessed: 2026-10-06.