Thursday, December 7, 2023

Mexico-US trade breaks record at US $614.5 billion, up 0.5%

Two-way trade between Mexico and the United States reached an all-time high of US $614.5 billion in 2019, the U.S. Department of Commerce reported on Wednesday.

Mexico’s exports to its northern neighbor totaled a record $358.13 billion last year, a 3.5% increase compared to 2018. Meanwhile, imports from the United States declined 3.4% to $256.37 billion.

The combined value of the commercial exchange between the two countries was 0.5% higher than that recorded in 2018. The balance of trade showed a record surplus of $101.75 billion in Mexico’s favor, 26.2% higher than the 2018 surplus.

Data from the Department of Commerce also showed that Mexico is now the United States’ largest trading partner, having moved past both China and Canada. Trade between the two countries accounted for 14.8% of the U.S.’ total international trade last year.

Canada was the second biggest trade partner of the United States followed by China, Japan, Germany and South Korea.

China’s share of trade with the world’s largest economy took a hit as a result of the trade war between Washington and Beijing, which has helped Mexico increase its exports to its northern neighbor.

The record trade between Mexico and the United States last year came despite continuing uncertainty surrounding the new North American trade agreement and threats from U.S. President Donald Trump to impose blanket tariffs on Mexican imports if the Mexican government didn’t do more to stop the arrival of migrants on the two countries’ shared border.

Mexico, the United States and Canada finally signed a modified version of the USMCA in December while President López Obrador, who is determined to maintain harmonious relations with the U.S., averted the tariff threat by agreeing to deploy the National Guard to increase enforcement against migrants.

Source: El Financiero (sp) 

Have something to say? Paid Subscribers get all access to make & read comments.

Mexico in Numbers: Religion

Is Mexico as religious as it appears to be? Dive into the data on how Mexico's religious landscape is changing and diversifying.

Supreme Court lifts suspension on bullfighting in Mexico City

Supporters celebrated the lifting of a temporary suspension by the Supreme Court, but the constitutionality of the sport is still in question.
Rarámuri migration

Extreme cold and hunger increase migration out of the Sierra Tarahumara

Poor harvests and freezing temperatures have driven larger numbers of Rarámuri people to Ciudad Juarez this winter.