The nation's strategic location and the abundance of natural resources present in it have been serving as a cornerstone towards the growth rate in petroleum exports. The thriving oil industry is expanding its reach by the several key developments initiated by the government authorities over the sector. The ongoing investment in exploration and production activities accompanied by the increasing demand for crude oil and the government initiative has boosted the domestic production while facilitating the revenue rate.

The country's strategic partnership with foreign companies like PEMEX has led to several advancements in technology and expertise, boosting production levels. The diversification in the energy sector is due to the investment in renewable sources of energy such as wind power and solar energy. The growing demand rate from the Closer Geographical Proximity Region has led to an export trade value of petroleum worth 25 billion US dollars in 2024.

Top Exported Products

Mexico has been currently trading a diversity of petroleum products in the international trade market for a substantial share in the revenue rate. According to the Mexico Export Data, the top 10 leading variants of the petroleum goods exported from the nation in 2024 are,

1. Crude Oil - Export trade value of Crude Oil from Mexico in 2024 - 4.3 billion US dollars.

2. Refined Petroleum - Export trade value of Refined Petroleum from Mexico in 2024 - 3.9 billion US dollars.

3. Liquefied Natural Gas - Export trade value of Liquefied Natural Gas from Mexico in 2024 - 2.87 billion US dollars.

4. Propane - Export trade value of Propane from Mexico in 2024 - 1.76 billion US dollars.

5. Naphtha - Export trade value of Naphtha from Mexico in 2024 - 1.65 billion US dollars.

6. Fuel Oil - Export trade value of Fuel Oil from Mexico in 2024 - 1.42 billion US dollars.

7. Propylene - Export trade value of Propylene from Mexico in 2024 - 1 billion US dollars.

8. Asphalt - Export trade value of Asphalt from Mexico in 2024 - 976 million US dollars.

9. Methanol - Export trade value of Methanol from Mexico in 2024 - 765 million US dollars.

10. Ethanol - Export trade value of Ethanol from Mexico in 2024 - 445 million US dollars.

Top Trade Markets

The active trading of petroleum goods with leading destination estates maintains stability in the overall revenue rate. As per the Mexico Trade Data, the top 10 export trade partners of the nation for petroleum in 2024 are,

1. United States - According to the USA Import Data, the annual export trade value of petroleum products from Mexico to the United States in 2024 - 4.6 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Solvent deasphalting pitch
2. Diesel fuel
3. Jet fuel
4. Naphtha
5. Paraffin wax

2. China - According to the China Import Data, the annual export trade value of petroleum products from Mexico to China in 2024 - 3.2 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Butanes
2. Propane
3. Rubber processing oils
4. Mineral spirits
5. High flash aromatic naphtha

3. Japan - According to the Japan Import Data, the annual export trade value of petroleum products from Mexico to Japan in 2024 - 2.9 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Benzene
2. Styrene monomer
3. Ethanolamines
4. Dimethyl ether
5. Aromatics

4. South Korea - According to the South Korea Import Data, the annual export trade value of petroleum products from Mexico to South Korea in 2024 - 1.87 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Paraffin wax
2. Bitumen
3. Carbon black feedstock
4. Petroleum jelly
5. Benzene

5. India - According to the India Import Data, the annual export trade value of petroleum products from Mexico to India in 2024 - 1.42 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Naphtha
2. Asphalt
3. Fuel oil
4. Jet fuel
5. Crude oil

6. Kuwait - According to the Kuwait Import Data, the annual export trade value of petroleum products from Mexico to Kuwait in 2024 - 1.3 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Propylene
2. Ethylene
3. Natural gas liquids
4. Liquefied Petroleum Gas (LPG)
5. Naphtha

7. Colombia - According to the Colombia Import Data, the annual export trade value of petroleum products from Mexico to Colombia in 2024 - 1 billion US dollars.

Top 5 Variants of Petroleum Products Exported

1. Ethane derivatives
2. Nitrogen
3. Toluene
4. Benzene
5. Butadiene

8. Canada - According to the Canada Import Data, the annual export trade value of petroleum products from Mexico to Canada in 2024 - 900 million US dollars.

Top 5 Variants of Petroleum Products Exported

1. Petrochemical feedstocks
2. Carbon black feedstock
3. Lubricants
4. Asphalt
5. Naptha

9. Brazil - According to the Brazil Import Data, the annual export trade value of petroleum products from Mexico to Brazil in 2024 - 700 million US dollars.

Top 5 Variants of Petroleum Products Exported

1. Natural gas liquids
2. Ethane
3. Propane
4. Pentanes Plus
5. Condensate

10. Spain - According to the Spain Import Data, the annual export trade value of petroleum products from Mexico to Spain in 2024 - 500 million US dollars.

Top 5 Variants of Petroleum Products Exported

1. Crude oil
2. Gasoline
3. Diesel
4. Jet fuel
5. Liquefied Petroleum Gas (LPG)

Export Trade Statistics (Previous 5 Years Analysis of Petroleum Trade)

The Top Petroleum Exporting Companies of Mexico in 2024

Mexico being one of the leading petroleum exporting countries, has recorded itself as the sixth largest producer ranked in the international trade market in 2024. As per the Mexico Customs Data, the top 3 petroleum fuel exporting companies of Mexico in 2024 are,

1. Petróleos Mexicanos (Pemex) - A state-owned company that has been leading as one of the topmost producers of petroleum fuels in the industry since 1938. The authority is responsible for almost 80% of the oil production and export.

2. Royal Dutch Shell - Royal Dutch Cell is a multinational oil and gas company headquartered in the Netherlands. The authority has been actively investing in Mexico's petroleum fuels expanding operations. It has played a crucial role in the overall economic growth of Mexico by recording its sales as one of the largest foreign investors in the country's energy sector.

3. BP Plc - British Petroleum, established in 2017, has ruled the petroleum fuel production industry of Mexico with significant investments in the oil and gas sector. The involvement of the authority in developing key infrastructure projects for supporting the operation, like new maritime terminals for crude oil from the Gulf of Mexico, fuels up the trade rate.

Top Trade Policies Supporting the Export of Petroleum Products From Mexico in 2024

The government authorities of Mexico have been continuously implementing several trade initiatives to foster the export of petroleum products at a positive rate. As per the Mexico customs data, the top three trade policies supporting the export of petroleum products from the nation in 2024 are,

1. Energy Reform Policy - The energy reform policy implemented by the government authorities of Mexico to attract foreign investors worldwide has ended the decades-long monopoly of state-owned company PEMEX while allowing private companies to participate in exploration, production, and transportation, increasing competitiveness in the global market.

2. Comprehensive Economic Partnership Agreement (CPTPP) - The Comprehensive Economic Partnership Agreement signed between 11 countries bordering the Pacific Ocean has reduced barriers to trade with the member countries by eliminating tariffs on various goods and services.

3. Infrastructure Development - The last and foremost, development of the infrastructure was quite an impressive decision taken by the government authorities for fostering the feasible exchange of petroleum goods from one nation to another. It has not only increased the global demands towards the Mexican trade authorities but has also fuelled up the export production capacity of the energy systems.

Conclusion

Import Globals provides a detailed analysis of the overall petroleum fuels exported from Mexico. Essential strategies of trade like HS code, product, quality, quantity, shipment destination, export destination, and production company names are highlighted for giving information to the business holders who are looking to invest their services in the international trade market.

FAQ'S

Que. What is the export trade value of petroleum goods from Mexico in 2024?
Ans. The export trade value of petroleum goods from Mexico in 2024 is 25 billion US dollars.

Que. Who is the top export trade partner of Mexico for petroleum in 2024?
Ans. United States is the top export trade partner of Mexico for petroleum in 2024.

Que. Name the top petroleum fuels exported variants of 2024.
Ans. Crude oil is the top petroleum fuel exported variant of Mexico in 2024.

Que. Where can you get a detailed trade analysis of the petroleum export of Mexico in 2024?
Ans. By subscribing to Import Globals, you can get a detailed trade analysis of the petroleum fuel export of Mexico in 2024.

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