Trade between Mexico and the United States accounted for 16.3% of the United States’ total trade in the first quarter of 2026, according to U.S. data, confirming that the two countries remain each other’s largest commercial partner.
Trade between Mexico and the U.S. totaled US $231.3 billion between January and March, according to data published last week by the U.S. Census Bureau and the U.S. Bureau of Economic Analysis. The figure represents an increase of 7.4% compared to the first quarter of 2025.
Mexico’s 16.3% share of total U.S. trade with all countries around the world ($1.42 trillion) is a record first-quarter high for Latin America’s No. 2 economy.
Canada ranked as the United States’ second-largest commercial partner in the first quarter of the year, with trade between those two countries accounting for 12.4% of total U.S. trade.
China ranked third, with China-U.S. trade accounting for 6.2% of the United States’ total trade between January and March.
While trade between Mexico and the United States increased 7.4% in the first quarter, trade between the U.S. and Canada fell 10.6% and trade between the U.S. and China decreased 34.4%.
Trade between the U.S. and Taiwan increased 79.1% annually in the first quarter, but their total trade is only around one-third of that between the U.S. and Mexico.
Mexico has benefited from the United States’ desire to reduce its reliance on imports from China, even as the Trump administration collected tariffs on a range of Mexican goods, including steel, aluminum and cars. Despite an increase in U.S. protectionism, the majority of Mexican products enter the U.S. tariff-free under the terms of the USMCA free trade pact, which is subject to a formal review process this year.
Mexico’s exports to the US increased 5.1% in Q1
The U.S. Census Bureau data shows that Mexico’s exports to the United States were worth a record-high $138.03 billion in the first quarter of 2026, a 5.1% increase compared to the same period of 2025. While a strong result, the year-over-year increase was well short of the 17.9% annual rise in Mexico’s total export revenue between January and March.
Mexico’s exports to the U.S. in March were worth a record high $51.2 billion, a 6.7% year-over-year increase.
One export category in which Mexico recorded very strong growth in the first quarter of the year was advanced technology products, including computers. Mexico’s export of such products to the U.S. between January and March generated revenue of $42.82 billion, a 35.2% increase compared to a year earlier.
By contrast, revenue from Mexico’s export of motor vehicles and parts to the U.S. declined 11.3% annually in the first quarter to $38.05 billion. The decline was largely due to the United States’ imposition of tariffs on light, medium and heavy vehicles made in Mexico.
The vast majority of Mexican-made tech products enter the United States tariff-free under the terms of the USMCA, even though a significant proportion of their inputs are imported by Mexico, especially from Asian countries. Mexico’s export of advanced technology products to the U.S. in the first quarter of 2026 was 12.5% more lucrative than the export of motor vehicles and parts to the same market.
Mexico had 16.9% share of US market for imports in Q1
Mexico’s exports to the U.S. between January and March accounted for 16.9% of the United States’ total outlay of $816.49 billion on imports.
Canada’s share of the U.S. market for imports was more than five points lower at 11.2%. China’s share was 7.4%.
Mexico’s imports from the US increased 11% in Q1
Mexico’s imports from the United States were worth $93.26 billion between January and March, an increase of 11% compared to the first quarter of 2025.
Thus, U.S. exports to Mexico grew at more than double the pace of Mexican exports to the U.S.
Mexico was the largest importer of U.S. goods in the first quarter of the year. Its expenditure on U.S. imports accounted for 15.5% of the United States’ total export revenue in the period.
Mexico’s trade surplus with the United States in the first quarter of 2026 was $44.76 billion, a 5.3% decrease compared to its surplus with the U.S. in the same period of last year.
Just over a year ago, President Claudia Sheinbaum and U.S. President Donald Trump agreed to work to narrow the trade imbalance between Mexico and the United States. Trump has cited the United States’ trade deficit with Mexico as one reason for his decision to impose tariffs on Mexican goods. The month before he commenced his second term, he suggested that Mexico should become a U.S. state due to its trade surplus with the United States.
However, last month, U.S. Trade Representative Jamieson Greer said that the U.S. is more concerned about its trade deficit with China than its trade deficit with Mexico. The United States’ outlay on imports from China declined more than 40% annually in the first quarter, while its deficit with the East Asian economic powerhouse fell 52.7% to $33.49 billion.
With reports from El Economista and El Financiero
