A year of contrasts in global trade

 In 2023, global trade in commercial goods and services declined by an average of 2%, totaling $30.5 billion. This decline was largely due to a 5% contraction in merchandise trade, while services trade experienced 9% growth. As a result, the share of merchandise in world trade declined from 77.8% in 2022 to 75.3% in 2023, while services increased their share from 22.2% to 24.7%.

Mexico climbs positions in merchandise trade

 In the area of merchandise exports, the top 10 exporting nations increased their global share from 49.0% in 2022 to 49.9% in 2023. Mexico stood out by rising from 13th to 9th place, increasing its share from 2.32% to 2.49%. This progress reflects the country's growing competitiveness and export capacity.

Progress in the manufacturing sector

 Mexico also showed a remarkable performance in the manufacturing sector. While some of the main exporters such as Taiwan, Hong Kong and China recorded contractions of 9%, 8% and 7% respectively, Mexico and the United Kingdom showed the best advances. Mexico recorded 4% growth, ranking seventh in the world's top 10 manufacturing exporters.