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Mexico

Mexico

The EU and Mexico began the first negotiation round to modernise their trade agreement  in June 2016. These talks are part of wider EU negotiations for an update to the Global Agreement.

The current Economic Partnership, Political Coordination and Cooperation Agreement (the Global Agreement) between the EU and Mexico entered into force in 1997. The agreement included trade provisions that were developed in a comprehensive Free Trade Agreement that entered into force in October 2000. The part related to trade in goods was immediately applied while trade in services followed in 2001.

Better Regulation Agenda

Modernisation of the trade pillar of the EU-Mexico global agreement

Trade picture

  • The EU is Mexico's third-largest trading partner after the US and China. Around 7.7% of Mexico's total trade took place with the EU in 2015.
  • EU trade with Mexico accounted for 1.5% of its total trade in 2015, with a total trade surplus of around €14.4 bn. In 2015 the EU was Mexico's second biggest export market after the US.
  • The EU was also Mexico's third largest source of imports after the United States and China, with €41.8 bn worth of goods imported in 2015. Key EU exports to Mexico include machinery and electric equipment, transport equipment, chemical products, and mineral products.
  • The EU imported €19.3 bn worth of goods from Mexico in 2015. The EU's key imports from Mexico are mineral products, machinery and electric equipment, transport equipment and optic photo precision instruments.
  • In terms of services EU imports from Mexico are dominated by travel, sea transport, air transport and construction services. EU services exports to Mexico consist mainly of travel, sea transport, air transport and computer and information services.

EU-Mexico "trade in goods" statistics

Trade in goods 2013-2015, € billions
Year EU imports EU exports Balance
2013 17.5 27.4 9.9
2014 18.0 28.4 10.4
2015 19.7 33.7 14.0

EU-Mexico "trade in services" statistics

Trade in services 2012-2014, € billions
Year EU imports EU exports Balance
2012 3.6 7.6 4.1
2013 3.8 7.8 4.0
2014 3.9 7.9 4.1

Foreign direct investment

Foreign direct investment 2014, € billions
Year Inward stocks Outward stocks Balance
2014 28.3 119.2 90.8

Date of retrieval: 14/04/2016

More statistics on Mexico

EU and Mexico

The broad and comprehensive EU-Mexico Free Trade Agreement entered into force in October 2000 covers trade in goods and services. It also includes specific chapters on access to public procurement markets, competition, intellectual property rights and investment.

The agreement is overseen by a Joint Committee and Special Committees that meet once a year, and by a Joint Council that meets every two years at higher political level.

Mexico currently enjoys trade preferences with the EU under the Generalised Scheme of Preferences.

Trading with Mexico