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Exports from the United States to Mexico grow 33%

Exports from the United States to Mexico registered a year-on-year growth of 33.3% from January to September 2021, to 204.2 billion dollars, the Commerce Department reported this Thursday.

Mexico was positioned as the first commercial partner of the United States, being its second export market, after Canada, and its second supplier of products, surpassed by China.

Among the exports from the United States to its southern neighbor are petroleum oils (except crude), auto parts, integrated circuits, gas, computers, piston engines, and machine parts and accessories.

Exports from the United States

The International Monetary Fund (IMF) projects that the US economy will grow 6% in 2021 and 5.2% in 2022, after having contracted 3.4% in 2020.

Top Trading Partners of USA – September 2021

Data are goods only, on a Census Basis, in billions of dollars, unrevised. Year-to-Date Total Trade

For these estimates, among other aspects, it considers fiscal projections that take into account the baseline of the Congressional Budget Office of July 2021, adjusted according to the IMF staff policy and macroeconomic assumptions.

The projections incorporate the effects of the proposed US Employment Plan; the American Family Plan; the Bipartisan Infrastructure Plan; the legislated American Rescue Plan; the Coronavirus Preparedness and Response Supplemental Appropriations Act; the Families First Coronavirus Response Act; the Coronavirus Aid, Relief and Economic Security Act; and the Paycheck Protection Program and the Health Care Improvement Act.

On average, exports from the United States to Mexico grew 3% annually from 2016 to 2020.

Conversely, foreign sales from Mexico to the United States were 282,485 million dollars from January to September 2021, an increase of 21.4% at the annual rate.

More than anything, Mexico exports cars, computers, freight vehicles, monitors, projectors, crude oil, and telephones to the US market.

US exports to the Mexican market have registered a 1% annual drop on average from 2016 to 2020.

Total foreign purchases by the United States were $ 2.064 billion in the first nine months of 2021, up 21.5% year-on-year.

 

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