- The value of Mexican exports to the United States reached 33,399 million dollars in March, the highest level ever, and the value of imports was 23,509 million dollars.
Ernesto Sarabia / Reform Agency
Mexico City. Mexico’s exports to the United States rebounded 10.9 percent in March, their highest annual growth rate in 30 months, according to the US State Department. Ministry of Commerce.
Meanwhile, imports increased by 17.3%, the highest number since May 2018.
The value of Mexican exports to the United States reached 33,399 million dollars in March, the highest level ever, and the value of imports or purchases reached 23,509 million dollars.
This resulted in a slight decrease in the country’s surplus by 1.7 percent.
The positive behavior of sales to the United States and purchases from that country translated into an annual growth of 13.5 percent in bilateral trade during the month of March, to $ 56.908 billion, a record high.
On the other hand, Mexican merchandise sales to the United States increased by 2.7 percent in the first quarter of 2021 compared to the same period of the previous year, to reach 89,868 million dollars.
Imports from the United States increased by 6.2 per cent, to reach 64,38 million dollars, an amount that when subtracted from exports a trade surplus of 25,830 million dollars, 5.1 per cent less than the previous year.
The decline in Mexico’s surplus with the North American giant (the US deficit) in the first quarter of the year was only lower than the cuts in Indonesia and Japan, by 9.9 and 5.8 percent in each case.
In contrast, the US trade deficit was the highest with Canada, by 46.5 percent, and China, by 45.7 percent, compared to the post-lockdown economic reopening to contain Covid-19.
As for its value, from January to March of this year, the United States experienced its largest trade deficit with China at $ 78,554 million, in a sample of 15 major partners of the world’s leading economy.
It is worth noting that although Ottawa moved from second place in February to first place in March as the main trading partner of the United States, Mexico kept in the first quarter the first place with 153,906 million dollars, followed by Canada with 151 thousand and 100 Million and China 148,200 million.
As an alternative to the North American Free Trade Agreement (NAFTA), in July 2020 it entered the T-MEC between Mexico, the United States and Canada.
After tough negotiations, on January 15, 2020, China and the United States signed a trade agreement for the first phase, which eased trade tensions between the two powers at that time, as they later came under heavy pressure.
This is due to the United States’ criticism of China in the face of the Covid-19 administration, approval of Hong Kong’s national security legislation and technological tensions, among other elements.
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