Exports from Mexico to the United States grew 2.5% in January compared to the same month of the previous year, to 29.041 million dollars, not including services.
The United States represents the main export market for Mexican merchandise, covering more than 80% as a destination.
With the result, Mexican exports had a 14.2% share of total US imports, a lower level compared to 14.4% in January 2020.
Among the top goods imported by Americans are cars, oil, telephones, furniture, pharmaceuticals, computers, and auto parts.
Mexico’s exports advanced much less than China‘s in that same market. The latter climbed 17.5% at an annual rate, reaching 39,111 million dollars.
As for its third supplier, Canada, its sales to the US market were for 24.542 million dollars, a decrease of 3.3% year-on-year.
Product imports into the United States totaled $ 204.812 million in January 2020, an increase of 4.3% annually.
China has been more competitive throughout the Covid-19 pandemic in international trade and, in particular, in the US market, despite facing a trade war with the United States.
In 2018, the United States Trade Representative, pursuant to Section 301 of the Trade Act of 1974, concluded that China engages in forced technology transfer, theft of United States intellectual property and trade secrets, practices of non-market licensing and strategic acquisitions of US assets financed by the state.
Subsequently, the United States government imposed tariffs on imports from China worth approximately $ 250 billion.
The Chinese government responded with tariffs on US products worth $ 110 billion. Most of the rates are still in effect.
While Mexico’s exports to the United States grew in January 2021, its imports from that market fell 6.5% at an annual rate, to 19.483 million dollars, for which it registered a surplus of 9.558 million dollars.
Top Trading Partners – January 2021
Trade in goods on a Census Basis, in billions of dollars, unrevised.