Yucatán Exports Surge 20% as Trade with United States Dominates

Trade wars notwithstanding, Yucatán’s exports jumped 20.1% in 2024 to reach $1.819 billion, with the United States accounting for the lion’s share of overseas sales from Mexico’s southeastern state.

The growth comes as Mexico overall strengthened its position as America’s top trading partner, with bilateral trade exceeding $839 billion last year. Yucatán’s performance reflects broader trends across Mexico, where exports to the United States hit a record $505 billion in 2024.

The United States purchased $1.205 billion worth of Yucatecan goods in 2024, representing about two-thirds of the state’s total exports. Poland ranked second at $78.1 million, followed by Canada with $76 million in purchases.

Turbojets Lead Export Categories

Turbojets, turbopropellers, and other gas turbines topped Yucatán’s export list at $524 million. The aerospace component reflects Mexico’s growing role as a global manufacturing hub for the aviation industry, which has become one of the country’s most dynamic sectors.

Jewelry and precious metal articles came second at $199 million, tapping into Mexico’s status as the world’s leading silver producer. Men’s suits, blazers, and clothing rounded out the top three at $152 million.

The aerospace exports highlight Yucatán’s integration into North America’s manufacturing supply chains. Mexico’s aerospace industry has grown from 100 companies in 2004 to over 368 organizations by 2022, generating billions in annual revenue and creating thousands of jobs across states, including Yucatán.

Import Growth Slower but Steady

Yucatán’s imports rose 5.37% to $2.627 billion in 2024, a more modest pace than export growth. The United States remained the top source of imports at $1.117 billion, followed by China at $320 million and India at $109 million.

Corn dominated the import list at $262 million, reflecting the agricultural trade that helps feed Mexico’s population of 128 million. Jewelry imports totaled $97 million, indicating robust two-way trade in precious metals and luxury goods.

The import data shows Yucatán’s economy relies heavily on its northern neighbor, with the US providing raw materials and finished goods while purchasing manufactured exports. This pattern mirrors Mexico’s overall trade relationship, where proximity and trade agreements like USMCA have deepened economic integration.

Investment and Remittances Climb

Foreign direct investment in Yucatán reached $148 million in 2024, with the United States, France, and Belgium leading sources of capital. Since 1999, the state has attracted $4.443 billion in foreign investment, helping modernize infrastructure and expand manufacturing capacity.

The investment flows support Yucatán’s transformation from an economy historically dependent on henequen fiber and agriculture to one increasingly focused on aerospace, textiles, and other manufacturing. This shift reflects broader economic changes across Mexico’s southeastern states.

Remittances from workers abroad also showed strong growth, with Yucatecan municipalities receiving $108 million in the first quarter of 2025. Mérida led with $35.3 million, followed by Oxkutzcab at $22.1 million and Tekax at $13.8 million.

Regional Trade Hub Emerges

The data positions Yucatán as an increasingly important player in North American trade networks. Mérida, Umán, Progreso, Kanasín, and Valladolid led municipal export volumes, while the capital also topped import rankings alongside Umán and Progreso.

The growth comes despite ongoing trade tensions and tariff threats that have created uncertainty for Mexican exporters. President Donald Trump has proposed 25% tariffs on Mexican goods, though recent negotiations have temporarily delayed implementation.

Yucatán covers approximately 39,612 square kilometers (15,294 square miles)—slightly smaller than West Virginia. The state’s 2.3 million residents have built an economy increasingly connected to global markets, as shown by the growing presence of international investment transforming cities like Mérida.

The export surge demonstrates how regional Mexican economies are adapting to serve North American supply chains, even as political rhetoric around trade creates periodic volatility in cross-border commerce.