Tuesday, April 23, 2024

Mexico-U.S. agricultural trade surpassed US $73 billion in 2022

United States consumers guzzled and devoured ample amounts of Mexican alcohol and avocados last year, while Mexicans ate large quantities of U.S. corn and pork.

The United States Census Bureau published data that showed that two-way agricultural trade between Mexico and the U.S. totaled just under $73.14 billion in 2022, an increase of 13% compared to the previous year.

agave field in Mexico
Tequila was Mexico’s second most successful agricultural export to U.S. consumers in 2022, bringing in US $5 billion. ( deposit photos)

The value of Mexico’s agricultural exports to the United States increased 14% last year to a record high of US $44.2 billion, data shows.

Agriculture imports from the U.S. were worth $28.93 billion, or about 40% of the total.

Mexico thus recorded an agricultural trade surplus of just under $15.3 billion in 2022, an 18% increase compared to 2021. Mexico’s Ministry of Agriculture and Rural Development (SADER) noted in a statement that the trade balance result was better than those of the past five years.

It also highlighted that two-way agriculture trade increased from just under $50.87 billion in 2019 to $73.14 billion last year, representing growth of almost 44%.

SADER noted that the biggest earner in 2022 was Mexican beer, with exports to the U.S. totaling just under $5.4 billion. Tequila was a close second, bringing in just over $5 billion in revenue.

The next biggest export earners were avocados, $2.87 billion; strawberries and blueberries, $2.47 billion; bell peppers, $1.44 billion; beef, $1.1 billion; and pan dulce (Mexican sweet breads), $1 billion.

The United States is Mexico’s top export market for agricultural products, but producers ship products to many other countries including Canada and China.

Data showed that the top five U.S. agricultural exports to Mexico last year were corn, $4.92 billion; soybeans, $3.64 billion; dairy products, $2.44 billion; pork, $2.04 billion; and wheat, $1.59 billion.

One of the U.S.’s most successful agricultural exports to Mexico was corn, a Mexican staple. ( deposit photos)

The U.S. Department of Agriculture said that the American agricultural sector posted its best export year ever in 2022 with international sales of U.S. farm and food products reaching $196 billion.

“The value of sales increased in all of the United States’ top 10 agricultural export markets – China, Mexico, Canada, Japan, the European Union, South Korea, Taiwan, the Philippines, Colombia and Vietnam, with sales in seven of the 10 markets (China, Mexico, Canada, South Korea, Taiwan, the Philippines and Colombia) setting new records,” the department said in a statement.

Mexico News Daily 

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