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Imports and exports from Mexico to the US break record

Imports and exports of goods from Mexico to the United States reached an all-time high in March 2022, the Commerce Department reported.

While exports were for 40,450 million dollars (+21.1%), imports totaled 28,532 million (+21.4%), considering interannual rates.

With this, Mexico gained market share as a destination for US foreign sales, but reduced its coverage in the case of imports to the United States.

Top Trading Partners – March 2022

(Trade in goods , in billions of dollars, unrevised)

Imports and exports of goods from Mexico to the United States reached an all-time high in March 2022, the Commerce Department reported.

The US market imported products worth 296,961 million dollars in March (+25.1%, annual).

Conversely, US foreign sales were $179.455 million (+18.3 percent).

Mexico was thus placed as the second trading partner of the United States, with a participation of 14.5%, surpassed by Canada (15.3%) and ahead of China (12.8 percent).

In 2020, the three North American countries began to implement the Treaty between Mexico, the United States and Canada (USMCA) to address the needs of the 21st century economy and the trilateral Agreement on Environmental Cooperation to develop an updated framework for environmental cooperation between the three countries.

Imports

The border region between Mexico and the United States represents a combined population of approximately 15 million people.

Cooperation between the two countries along the border includes coordination with state and local officials on cross-border infrastructure, transportation planning, and security, as well as collaboration with institutions dealing with migration, natural resources, environment, and health issues.

In 2010, the United States and Mexico created the 21st Century Border Management Initiative (21CB) to drive binational progress toward promoting a modern, secure, and efficient border.

High-level representatives from the governments of the United States and Mexico meet annually in the 21CB Executive Steering Committee (ESC) to adopt action plans to guide bilateral efforts to modernize and expand ports of entry along their shared border; facilitate the flow of trade and travelers between the two countries; and strengthen cooperation on public security in the border region.

Mexico is consistently among the top three trading partners of the United States and in 2021 was the second largest export market for the United States (after Canada).

 

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