Tuesday, February 7, 2023

The US is Mexico’s first trading partner and Canada is the fifth.

From March to July 2022, the United States’ first trading partner was Canada, followed by Mexico in second and China in third. However, during August and September, Mexico displaced Canada, which remained in first place.

Regarding trade relations between Canada and Mexico, according to the Ministry of Economy, Canada is the fifth trading partner of Mexico as during the January-April 2021 period, the total trade between the two countries stood at $7,798 million (mdd).

While Mexico’s export to Canada was 4 thousand 223 million dollars and import from that country was 3 thousand 575 million dollars.

During September 2022, the total trade of products from the United States with Mexico stood at $67.4 billion, followed by Canada ($66.5 billion) and China ($61.2 billion). For this reason, Mexico’s main trading partner is the United States, which in 2021 accounts for 80.7 percent of total exports and 43.8 percent of total imports. For Canada, exports from the United States were estimated at $30 thousand 464 million, an annual advance of 23.5%. While US imports from its northern neighbor were 36 thousand 048 million, which was an increase of 20.4%.

On the other hand, Mexico exports 79-8% of its products to the United States, especially in respect of manufacturing (88.2%) and of these 64% are transported by land. Of the total Mexican exports of goods, cars, computers, oil, monitors, projectors, telephones and agrifood. Meanwhile, the main imported products from Canada in 2020 were: vehicle parts and accessories, turnips or rapeseed, reaction initiators and accelerators, wheat and meslin, and cast aluminum.

Finally, Mexico’s bilateral trade with the United States closes in 2021 with 661 thousand 164 million dollars, which is the highest figure since there is a record and includes imports and exports. This, despite the fact that the main partner in that period was not the United States, but Canada.

Nation World News Desk
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