EIA: Energy trade value between US, Mexico falls

The value of all energy trade between the U.S. and Mexico decreased about 15 percent – from $77.8 billion in 2022 to $66.5 billion in 2023, adjusted for inflation, according to the U.S. Energy Information Administration (EIA).

Lower fuel prices more than offset the increase in the volume of energy trade between the two countries. Energy trade value represents the total value of energy imports and exports between the two countries. It is influenced by both commodity prices and the volume of commodities imported and exported.

The value of inflation-adjusted U.S. energy exports to Mexico declined by 19 percent in 2023. The value of inflation-adjusted energy imports from Mexico decreased by 6 percent in 2023, according to data from the U.S. Census Bureau, which has been collecting this type of data since 1996.

Energy commodities include crude oil, petroleum products, natural gas and electricity. Propane is among the petroleum products traded between the countries. The EIA provides a summary of the trade activity between the U.S. and Mexico for each energy commodity. In 2023, Mexico was the largest export market for U.S. petroleum products, accounting for 87 percent of the total energy exports, according to the EIA.

The EIA collects, analyzes and disseminates independent and impartial energy information to promote sound policymaking, efficient markets and public understanding of energy and its interaction with the economy and the environment.

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