From January to October 2024, Mexico's agricultural trade balance experienced remarkable growth, surging by over 700% to $2.319 billion, compared to just $285 million during the same period in 2023. This significant increase underscores the substantial wealth present in Mexico's rural sector.

According to the National Society of Phytosanitary Products (Sonafi), the latest import and export figures from the Bank of Mexico highlight the crucial role of the agricultural sector, especially national agricultural production.

The Bank of Mexico's report shows that agricultural product exports totaled $19.403 billion from January 1 to October 31, 2024—an increase of $1.244 billion compared to the $18.159 billion recorded during the same period in 2023.

Sonafi pointed out that the value of Mexican food exports rose by 6.8% during the first ten months of 2024, attributing this growth to the hard work of producers and key stakeholders in the agricultural sector.

It is important to note that the crop protection industry continues to support producers by providing high-quality crop inputs, including fertilizers that boost yields and phytosanitary products that protect crops from pests, weeds, and diseases.

Sonafi reaffirmed its commitment to advancing the crop protection industry, describing it as providing “the medicine of the field.” This includes the development of more environmentally friendly phytosanitary products and fertilizers with reduced risks for producers and consumers, supporting the broader goal of achieving food sovereignty in Mexico.

The ultimate objective is to ensure that the food reaching Mexican tables, as well as those in the 192 countries with which Mexico trades, is of the highest quality.

Moreover, a reduction in agricultural imports contributed to the improved trade balance. From January to October 2024, imports totaled $17.084 billion, down from $17.874 billion during the same period in 2023, reflecting a decrease of $790 million.

Avocados remain among the top agricultural exports, valued at $3.082 billion. Other fresh vegetables, such as legumes, brought in $2.670 billion, while tomatoes were valued at $2.456 billion, peppers at $1.482 billion, and other fruits and nuts at $1.435 billion.

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