Mexico has surpassed China and Taiwan as the largest supplier of high-tech products to the US market. According to data from the US Census Bureau, in August 2024, Mexican high-tech exports reached $9.8 billion, while those from China were $8.7 billion, and those from Taiwan were $8.5 billion.
According to statistics, Mexican high-tech exports to the US have maintained a steady growth, reaching $62.4 billion through August. This growth exceeds the $49.5 billion of 2023, and puts Mexico in a competitive position against technological giants such as China and Taiwan, whose exports, although robust, have not had the same momentum.
Taiwan, a world leader in semiconductor production, remains a strong competitor, with exports valued at more than $50 billion in 2024, and China, with $68.1 billion accumulated in 2024.
Promotes nearshoring
Factors such as geographic proximity to the US, competitive costs and the T-MEC framework have made the country an attractive option for companies seeking to reduce their dependence on Asia.
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Gerardo Tajonar Castro, president of the National Association of Importers and Exporters of the Mexican Republic (ANIERM), sees it as a clear sign of the change in commercial dynamics.
“The figures are striking and suggest that companies are diversifying their supply chains and bringing their production closer. Mexico, due to its proximity and qualified labor, is positioning itself as the alternative for companies seeking to reduce risks and shorten delivery times,” he says.
Tajonar noted that high-tech products exported from Mexico include aircraft parts, smartphones, televisions, microprocessors and advanced medical equipment, reinforcing the idea that the country is increasing its ability to compete in sectors traditionally dominated by Asian powers.
China and Taiwan have been, for years, undisputed leaders in high-tech exports to the US. However, the sector is looking for closer alternatives that are less dependent on Asian trade routes.
“It is difficult to predict whether Mexico will remain above China or Taiwan in the long term,” warned Tajonar. “China remains a dominant player and has a great capacity to adapt, but Mexico is taking advantage of a geopolitical and economic moment that could give it a competitive advantage.”
Sustained growth
Rogelio González Achirica, president of One Step Group, stressed that this trend of attracting investments from companies seeking to relocate their processes is supported by Mexico’s geographic, logistical and specialized labor advantages, as a neighbor of the largest market in the world.
In this sense, “Mexico has invested in the training of a specialized labor force in high-tech sectors,” said González Achirica.
According to González Achirica, Mexican high-tech exports could grow at a compound annual rate of 7.5 percent in the next five years, consolidating Mexico’s position as a key trading partner for the United States in this area.
Due to this forecast, the expert highlighted that the stability offered by the Treaty between Mexico, the United States and Canada (T-MEC) has also been fundamental, since the largest trade agreement in the world provides a framework of certainty for companies that operate between the three countries, offering clear rules that encourage regional production.
“The future of high-tech trade between Mexico and the US is promising. If Mexico manages to remain agile and continues to invest in its productive capacity, there is no doubt that it will continue to lead in this sector,” said González.
Cheaper than China
For his part, Hélcio Lenz, president and general director of Körber Supply Chain for Latin America, said that Mexico will consolidate itself as a key center in global supply chains in the coming years.
“The long-term vision is very positive. Mexico is in a strategic position due to the competitive cost of labor, which is even lower than in China,” explained Lenz.
In addition, he highlighted that Mexico already has a well-established business culture, with highly trained professionals in logistics and supply chain from practically all industrial sectors.
“It is not about developing a country from scratch; Mexico already has the know-how and the talent. In the next five years, we will see an increase in operating and production volumes, which will bring scale gains. In addition, operational efficiency will be strengthened thanks to investments in processes, technologies and local talent,” said Lenz.
Source: elfinanciero
