Home Business-newBusiness Mexico continues to be top US trading partner

Mexico continues to be top US trading partner

by Yucatan Times
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For eleven straight months Mexico has been in first, with Canada second and China third.

Mexico continues to be the top trading partner for the United States, ranking No. 1 in total trade value through November, at $567.81 billion.

It marks the 11th straight month Mexico has been in first, with Canada second and China third. China had led the list from July 2017 until December 2018.

The ongoing trade dispute between the United States and China — and U.S. tariffs on more than $500 billion in Chinese goods — catapulted Mexico into the top spot in January 2019.

From January through November, exports to Mexico totaled $237.31 billion and imports totaled $330.51 billion, a deficit of $93.2 billion, according to the latest Census Bureau numbers, analyzed by WorldCity.

Six of the top 10 trading ports with Mexico were in Texas, including Laredo ($210.57 billion in trade value with Mexico year to date), El Paso ($70.94 billion), Pharr-Reynosa International Bridge ($32.73 billion), Eagle-Pass Piedras Negras International Bridge ($27.22 billion), Brownsville International Bridge ($16.03 billion) and Port of Houston ($13.08 billion).

The other four top U.S. trading ports with Mexico were Otay Mesa, California ($44.39 billion); Santa Teresa, New Mexico ($27.73 billion); Nogales, Arizona ($23.56 billion); and Calexico, California ($16.13 billion).

Mexico’s trade with the U.S. rose to $567.81 billion through the first 11 months of 2019, an increase of 0.51% over the same period in 2018. U.S. exports to Mexico decreased 3.37%, while imports from Mexico rose 3.48%.

The top U.S. exports to Mexico were gasoline ($24.48 billion), motor vehicle parts ($15.68 billion) and computer parts ($10.55 billion).

The top U.S. imports from Mexico were motor vehicles for transporting ($34.69 billion), computers ($24.55 billion) and commercial vehicles ($23.97 billion).

Total U.S. trade with the world was $3.81 trillion from January to November 2019, down 1.42% compared to the same period last year.

The Yucatan Times Newsroom with information from https://www.freightwaves.com/

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