Last August, Mexico became the number one trading partner of the United States, measured by the sum of the value of exports and imports for both countries, surpassing Canada and China; However, in the first eight months of the year, the crown is still in the hands of Canadians, while our country takes second place.
US Department of Commerce Census Bureau data shows that the exchange of goods and services with Mexico last August was $70.3 billion, slightly higher than the $70 billion reported by Canada and China which amounted to $63.3 billion.
Regarding the cumulative figure for the year, that is, from January to August, the bilateral trade of Mexico and the United States amounted to 520 thousand and 100 million dollars, which is 14.7 percent of the total international trade of the main economic trade. world power.
In this way, Mexico was under Canada, whose trade volume with the United States in the indicated period amounted to 536 thousand and 800 million dollars, which is 15.1 percent of the total; While China came in third place with 465 thousand and 600 million dollars, representing 13.1 percent of the total trade of the neighboring country.
“Our trade has grown by 20.4 percent annually, according to the US Census. Our trade integration continues to strengthen,” said Tatiana Claother, head of the Department of Economy, on her Twitter account.
Last August, exports from Mexico to the United States amounted to $40.3 billion, a 25.5 percent growth compared to $30 billion in the same month in 2021.
Experts predict that exports will slow in the coming months as a result of lower growth in the world’s largest economy.
The value of Mexican exports to the United States amounted to 302 thousand and 200 million dollars during the cumulative period from January to August 2022, an increase of 20.6 percent compared to the same period in 2021 when it was 250 thousand and 400 million dollars. While imports rose from 181,400 million dollars to 217,900 million dollars.
Mexico’s exports not only recovered from the epidemic and reached previous levels, but also reached their highest levels since records existed, namely 1993.