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Mexico’s exports to the US fell 9.1% in 2020

Exports of products from Mexico to the United States presented a fall of 9.1% year-on-year, to 325,394 million dollars, the Commerce Department reported this Friday.

Mexico sells a wide variety of durable goods to the US market, such as cars, televisions, stoves, refrigerators, trucks, and recreational vehicles.

Several fruits and vegetables also stand out among Mexican exports to that destination, such as avocado, red tomato, berries, strawberry, lemon, cucumber, mango and asparagus.

Mexico’s exports accounted for a 13.9% share of total US merchandise imports in 2020, a drop of 0.4 percentage points.

Exports

Mexico was placed as the second supplier of products in the US market last year, surpassed by China (435.449 million dollars) ahead of Canada (270.382 million dollars).

Likewise, Mexico was ranked as the second country with which the United States registered its largest deficit in its balance of products (-112.7 billion dollars), also surpassed by China (-310.8 billion dollars).

Of total US merchandise imports, China had a share of 18.6% as origin, followed by Mexico (13.9%) and Canada (11.6%) in 2020.

Mexican exports went from 229,986 million dollars in 2010 to 325,394 million dollars in 2020.

The economic and commercial relationship of the United States with Mexico is of mutual interest due to the geographic proximity, the extensive commercial and investment relationship within the framework of the North American Free Trade Agreement (NAFTA), the conclusion of the NAFTA renegotiations and the beginning of the Treaty between Mexico, the United States and Canada (T-MEC), as well as the strong cultural and economic ties that connect the two countries.

In 2019, Mexico overtook China as the United States’ largest trading partner. It ranks second, after China, as a source of US imports, and second, after Canada, as an export market for US goods and services.

The United States is the largest source of foreign direct investment (FDI) in Mexico.

 

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