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united states imports

Mexico’s share of U.S. imports up 4.9%

Total goods trade between Mexico and the U.S. was up 5% to $534 billion

Records were broken in Mexico-United States trade in 2014: total goods trade was US $534 billion, up 5% from $507 billion in 2013, while Mexico’s share of United States imports was 12.5%.

Those imports from Mexico totaled US $294 billion, 4.9% more than the previous year, but an increase that was shaded by that of China, with 6%, and Germany with 7.7%. Mexico was the U.S.’ third biggest source of imported products, behind China in first place and Canada in second.

Japan and Germany were in fourth and fifth place, respectively.

U.S. exports to Mexico totaled $240 billion, creating a surplus for Mexico of $54 billion.

Mexico’s share of U.S. purchases was up in spite of a decline in petroleum sales.

“This is a trend that will continue this year,” said analyst Dolores Ramón of the bank, Ve Por Más. “We predict that Mexican petroleum exports to the American market will continue falling, while at the same time manufacturers’ shipments will continue growing.”

Sources: Notimex (sp), El Economista (sp)

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