On behalf of the Norwegian Embassy in Mexico, Menon Economics has conducted a study on Mexican-Norwegian trade relations and opportunities available to Norwegian companies in the Mexican market. The report offers a detailed overview of bilateral trade between Norway and Mexico, as well as an assessment of sectors with substantial potential for Norwegian enterprises in Mexico

In recent years, Mexico has increasingly attracted interest from international companies, particularly in the manufacturing sector, due to trends such as nearshoring and more integrated supply chains. However, Norwegian-Mexican bilateral investments and trade remain limited both in absolute terms and relative to other regional markets. Despite a significant growth in trade between Norway and Mexico over the past few years, Norwegian exports to Mexico amounted to NOK 3.6 billion, while imports reached NOK 7.8 billion in 2023.

In light of this context, the study assesses the current state of Mexican-Norwegian trade relations and explores the sectors within the Mexican market that may present opportunities for Norwegian businesses.

In the report, we identify five industries with high potential for Norwegian companies. The five industries are:

• Maritime industry
• Offshore suppliers
• Manufacturing of design and consumer goods
• Offshore wind
• Green hydrogen

The full report can be downloaded here