Exports to the United States reach unprecedented levels

Mexico City. The value of Mexican exports to the United States closed the first two months of 2024 at unprecedented levels for a similar period since records existed (1993), which helped Mexico remain the main trading partner – measured by the sum of exports and imports – of the largest economic power in the world.

Figures from the Census Bureau of the United States Department of Commerce revealed that shipments from Mexico to that country between January and February of this year had a value of 78 thousand 286 million dollars, an increase of 7.7 percent compared to the 72 thousand 669 million dollars from a year before.

Regarding Mexico’s imports from the US, these closed the first two months of the year at 53,263 million dollars, an increase of 2.6 percent compared to 51,895 million in the same period of 2023.

In this way, the trade balance between both countries, that is, the difference between exports and imports, showed a surplus of just over 25 billion dollars in favor of Mexico, which means that sales to the US were higher. regarding purchases made from that country.

Maintains place of honor

According to the Census Bureau, in the first two months of 2024, Mexico remained the main trading partner of the United States, with a total exchange (exports plus imports) of 131.55 billion dollars, an unprecedented amount that is equivalent to 16 percent of US world trade.

At the end of the first two months of the year, the second place among the largest US trading partners was occupied by Canada, with an exchange of 121.5 billion dollars, which represented 14.7 percent of US trade, while China was in one place. third place with 91.8 billion dollars, equal to 11.1 percent of the total.

Mexico also became the main trading partner of the United States in February, with a total exchange of 67 billion dollars, which represented 16 percent of what the United States traded with the world during that month and totaling 413,509 million. Dollars.

Exports from Mexico to the US in the second month of the year stood at 40.2 billion dollars, while imports reached 26.8 billion dollars.

In this way, Mexico maintains its place as the United States’ first trading partner, just as it closed in 2023, the year in which it overtook Canada and in which it also replaced – after more than 20 years – China as the main supplier of goods from the largest economic power in the world.

In a recent report, the consulting firm Kearney highlighted that in recent years there has been a reduction in exports from China and Asian countries to the US, which coincides with the increase in Mexico’s participation in shipments to US territory.