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Merchandise exports from Mexico to the United States grew 7.8%

Merchandise exports from Mexico to the United States registered a year-on-year growth of 7.8% in August.

With this, these external sales were 32,088 million dollars.

The result implied that Mexico remained the second supplier of products to the United States, below China, whose shipments were 42,997 million dollars, an advance of 5.4% year-on-year.

As the third supplier to the US market, Canada posted sales of $ 31.069 million, an increase of 30.8%, according to data from the US Department of Commerce.

If all the origins of US imports are taken into account, they totaled $ 245.819 million in August, increasing 20.9% year-over-year.

Exports

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

Thus, the T-MEC entered into force on July 1, 2020.

According to the US government, the USMCA supports mutually beneficial trade that leads to freer markets, fairer trade, and strong economic growth in North America.

The agreement is expected to create job opportunities; improve worker protection; prevent forced labor; increase agricultural trade; produce new investment in vital manufacturing industries; protect intellectual property rights; generate a similar set of environmental standards in the three countries; and include digital trade protections.

Cumulatively, Mexican exports to the United States from January to August totaled 250,437 million dollars, which represented an increase of 23.5% year-on-year.

Meanwhile, China’s exports to that same destination were 313,001 million dollars, this is 19.4% more than in the same period of 2021.

For its part, Canada’s sales to its southern neighbor were $ 229,284 million, an annual growth of 33.3%.

Total imports from the United States grew 22.8% from January to August of the current year, to 1 trillion 820.234 million dollars.

 

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