.com or .mx

I am planning to start a Spanish affiliate blog for some digital products.

Mainly I want Mexican traffic. But of course, I wouldn't mind international spanish traffic from US or other spanish speaking countries.

My question is:
Does .mx domain rank significantly better in Google SERP Mexico compared to .com? Is it worth the sacrifice of the international reach and traffic of .com?

Thank you in advance

I would say yes - use .mx to better rank in Mexico as you would use .es for Spain or .de for Germany

Ranking wise there is no difference per se, the only difference is user behavior. While .mx will give you a slightly better trust with Mexican users, it will be less desirable to click for the others as it will looks not so relevant to them. So if you expect 90%+ Mexican traffic go for .mx, otherwise go for the .com.

Buy both when in dilemma. Finalize one to work on and redirect other to one you are working on.