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Exports from Mexico to the US have the worst drop since 1986

Exports from Mexico to the United States registered their worst decline since 1986, according to data from the Census Bureau.

These sales totaled 14,927 million dollars in May, a drop of 53.5% compared to the same month in 12019.

The second quarter of 20920 was historic, marked by the severe impact of the coronavirus on the Mexican economy, which forced the implementation of containment measures to mitigate the number of deaths.

Considering all its markets, Mexico exported merchandise worth 18,069.8 million dollars in May, a 56.7% year-on-year drop. Inside, oil exports fell 63.8% to 929.3 million dollars, while non-oil exports fell 56.3% to 17,140.4 million dollars.

External sales of Chinese products to the United States market were $ 36,598 million (-6.6%), while Canada’s sales totaled $ 15,870 million (-45.7%).

Exports to the US

Despite attempts to diversify its economic ties and build its national economy, Mexico continues to rely heavily on the United States as an export market (approximately 85% of Mexico’s exports in 2019 went to the United States) and as a source of remittances, income from tourism and investment.

Total merchandise imports from the United States fell 25.7% in May, to $ 163.929 million.

Trade of products of the United States with Mexico
millions of dollars

Mexico registered a trade surplus of 4, 487 million dollars with the United States, 52.8% less than in May 2019.

Relationships have generally tightened in the past two decades. Common interests in encouraging trade flows and energy production, combating illicit flows (of people, weapons, drugs, and currency) and managing environmental resources have been cultivated for many years.

 

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