Value of U.S. energy exports to Mexico surpasses import value

Over the past three years, the value of U.S. energy exports to Mexico has exceeded the value of U.S. energy imports from Mexico, according to the U.S. Energy Information Administration. Crude oil has accounted for the highest value of U.S. energy imports from Mexico, while petroleum products have comprised of the highest value of U.S. exports to Mexico. As the United States has reduced the amount of crude oil imports from Mexico, the energy trade balance has shifted.

Through 2014, the overall value of Mexico’s sales of crude oil to the United States exceeded the value of U.S. net sales of petroleum products, largely gasoline and diesel fuel, according to data from the U.S. Census Bureau.

“Starting in 2015, the value of U.S. energy exports to Mexico, including rapidly growing volumes of both petroleum products and natural gas, exceeded the value of U.S. energy imports from Mexico as volumes of Mexican crude oil sold in the United States continued to decline,” according to the EIA. “The value of U.S. energy exports to Mexico increased to a high of $25.8 billion in 2017, including $23.2 billion of petroleum products. Overall, this export value was more than twice as much as the $11.1 billion value of 2017 U.S. energy imports from Mexico.”

In 2017, energy comprised of more than 10% of the value of all U.S. exports to Mexico and 4% of all U.S. imports from Mexico, according to the Census Bureau.

The United States imported about 608,000 barrels of crude oil from Mexico daily. In 2017, the United States was the source of 8% of U.S. imported crude oil from Mexico, the fourth-largest share behind Canada, Saudi Arabia and Venezuela. The value of these imports has fallen 67% to $9.8 billion in 2017, from an annual average of about $30 billion between 2007 and 2015. The value has declined as a result of low U.S. imports and world oil prices.

U.S. exports of petroleum products to Mexico rose more than 13% to over 1 million barrels per day in 2017, from 2016. Mexico received 24% of all petroleum products exported from the United States. U.S. exports of gasoline comprised of more than half of Mexico’s gasoline consumption.

U.S. exports of natural gas to Mexico were 4.6 billion cubic feet per day in 2017, and the exports included shipments by pipeline or liquefied natural gas (LNG) cargoes. About half of U.S. exports of natural gas were transported by pipeline to Mexico. By 2018, new pipeline capacity is expected to nearly double the amount of natural gas that can be exported from the United States to Mexico. Much of the exported natural gas will be used to generate electricity in Mexico.

Between February 2016 and December 2017, the United States transported 168 billion cubic feet, or 19% of U.S. LNG exports, to Mexico. The country is the largest destination for U.S. LNG exports.