Import and export are key movements for the international trade of a country. Importing is the transfer of goods and services from abroad to a domestic buyer, while exporting is the sale of goods and services to foreign buyers.
Mexico is in a key geographical position for the entry and exit of merchandise. Our country has the opportunity to import and export to the United States and China, two of the greatest powers in the world on the subject, making this process something simple and easy through sea, land and air routes.
If you want know more about what is import and exportthe differences and basic aspects to consider to do it well and in the right way, you have arrived at the ideal place, because here I will explain more about both processes and how they affect the trade balance and the Mexican economy.
What is import?
In the context of international trade, It is called importing the process of introducing articles, merchandise or raw materials from abroad into a country. At least this is the most basic definition, but we will see below why it is so important for the economy of a country.
What is import?
Importation is the action as such of buying, acquiring and moving goods, products or services from another country or another market to national territory. It is an action that entails a record in order to observe the economic behavior of our country.
What are imports?
Imports are the set of goods, products, services and raw materials from another country that arrive at customs as part of the import process of a company or an importer.
Examples of imports
Some examples of imports and the most relevant in Mexico according to the are:
- Gasoline
- Metal products, machinery and equipment
- Automobiles and auto parts
- Integrated circuits
- memory units
- Yellow corn
- car engines
- Plastic and rubber products
- Chemical products
- Food, drinks and tobacco
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Who is the importer?
As such, the importer is the physical or moral figure that is dedicated to the purchase of products, goods and services from an external entity.
What is needed to be an importer?
To be an importer in Mexico it is necessary to meet these requirements. Take note!
- Be registered in the Federal Taxpayers Registry (SAT).
- Have an Advanced Electronic Signature (FIEL).
- Stay current on your tax obligations.
- Be registered in the Register of Importers.
- Have a customs agent or a customs agent.
👆 Fact: It is possible to import to Mexico without complying with all these requirements or . However, in both cases, there are limits to the amount and units to be imported.
Import documents in Mexico
Some of the documents you will need to import into Mexico are the following:
- Advanced Electronic Signature (FIEL)
- Assignment Document conferred
- Certificate of origin
- Commercial invoice
👆 Fact: Depending on what you import and the country of origin, import documents may be added to the list. The importation of plants and seeds, as well as animals, fish and weapons have different and specialized regulations for control within the country.
Taxes when importing to Mexico
As in any productive activity, you must pay taxes regarding the merchandise that is entering the national territory. Some of the import taxes that you must cover to clear your cargo in customs are:
- General Import Tax (IGI)
- Value Added Tax (VAT)
- Tax on New Cars (ISAN)
- Special Tax on Production and Services (IEPS)
- Customs Processing Law (DTA)
📌 Fact: Depending on what you are importing, the taxes that apply to your shipment will be. In addition, almost all are variable rate, except for VAT, which is 16%.
How much can I import into Mexico without paying taxes?
Traveling by air or sea, you can import merchandise with a value of up to $500 USD in your suitcase, while by land the limit is $300 USD, except during the holiday season, such as Easter, Summer and Winter, which is equal to that of the other two ways, as part of the “Paisano Program”.
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What cannot be imported into Mexico?
Cataloged as merchandise prohibited for importation or articles that require a special regulation for their entry into the country, These are the items that cannot be imported into Mexico:
- narcotics
- Live fish of any size
- Images that represent childhood in a demeaning or ridiculous way
- weapons and ammunition
- Land*
- Hay packages*
- Raw straw*
- Homemade foods*
- Flours of animal origin*
- Meat products and fresh meat from countries not authorized by Mexico*
Those items with an asterisk are merchandise with a health risk and are on the list of restricted items in Mexico, while the others are on the list of prohibited or specially regulated merchandise.
What is export?
Speaking in terms of international trade, The process of selling and moving articles, merchandise, raw materials and services abroad is called exporting.. It could be said that it is the opposite action of importing.
What is export?
Export is the action of selling, transferring and moving national goods, products or services to another country or continent.. It is a process that is also recorded in the Balance of Payments of the Ministry of Economy, with the aim of monitoring the economic behavior of Mexico.
What does export mean?
Export, according to has two valid meanings, the first as the action and effect of exporting and the second, as the set of goods that are exported. In both cases, se understands as export the process of selling goods to another country.
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What are exports?
Exports are that set of goods, products, services and raw materials of national origin that pass through customs bound for other countries. This shipment is part of the export process of a company or an exporter.
Examples of exports
Examples of Mexican exports and the main products sent from Aztec lands to other nations are:
- Oil and byproducts
- Automotive Industry Products
- monitors and projectors
- Fruits and vegetables
- bovine meat
- malt beer
- Computers
- cane sugar
- Fish
- Precious metal jewelery
👆 Fact: Chihuahua, Coahuila and Baja California rebound at the national level, being the states that export the most merchandise in all of Mexico, according to .
What is an exporter?
An exporter is a person, whether natural or moral, who is dedicated to the sale of products, goods and services to an external entity.
What does an exporter do?
An exporter has multiple functions. Here I share some of the most important in the export process:
- Sell products and/or services abroad.
- Transfer national merchandise to other countries.
- Manufacture articles or goods with quality for export.
- Pack and prepare the merchandise for shipment.
- Connect and strengthen commercial ties between countries.
An exporter can be a producer and manufacturer, attacking all points of the commercial ecosystem, or it can be exclusively in charge of moving merchandise. It all depends on the scope of the company.
What is needed to be an exporter?
To be an exporter in Mexico you need to meet these requirements.
- Be registered in the Federal Taxpayers Registry (SAT).
- Have an Advanced (FAITHFUL).
- Stay current on your tax obligations.
- Be registered in the Sectorial Exporters Register.
- Have a customs agent or a customs agent.
👆 Fact: In addition to this, you must make the payment of tariffs and have the necessary documents to export your merchandise.
Export documents in Mexico
Similar to the import process, certain documentation is necessary to move merchandise from Mexico to other countries. These are thethe necessary export documents:
- RFC with homoclave
- Advanced Electronic Signature (FIEL)
- Assignment Document conferred
- Certificate of origin
- Commercial invoice
- Packing list
- Transport documents
👆 Fact: If you export plants, vegetables or animal products, you must also include health certificates, quality certificates and other permits so that the merchandise can travel and be accepted in other countries.
Taxes to export from Mexico
Now that you know what exporting is, let’s see what taxes must be covered when exporting. These are some of the taxes associated with exporting to other countries from Mexico:
- General Export Tax (IGE)
- Value Added Tax (VAT)
Exports have a lower number of associated taxes than imports as they have tax incentives, however, in order to have the 0% VAT rate, it is essential that they are aligned with the .
What is import and export?
Import and export are two movementsboth entry and exit of merchandise, goods and services, considered basic in international tradesince they significantly affect the economy of a country and the productive activities in it.
Why do some countries have to import products?
There are several reasons why some countries have to import products from other countriesHere are some of the most common:
- To acquire merchandise that is not produced in your country.
- Because they offer an opportunity cost for companies.
- To market products at a lower cost.
- Because it adds competition and options to the industry.
- To sell higher quality items.
Usually, companies import and export products as part of a commercial collaboration systemwhich benefits both brands and consumers, providing new opportunities and better conditions for everyone involved in the production line, from farmers, producers, maquiladoras to final buyers.
Is it better to import or export?
Based on economic terminology, we could say that it is better to export than to importbecause having more exports than imports leads us to the long-awaited and desired trade surpluswhile if imports exceed exports we speak of a trade deficit.
To achieve this surplus, tax incentives are applied and economic programs are promoted that support more and more companies to export their merchandise to other countries, bringing together both parts of the commercial ecosystem.
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Differences between import and export
Knowing the definitions of each…
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