How Fast Is Mexico’s Trade Growth?
With a total trade value of USD 614.5 billion, Mexico placed first among US trading partners in 2019. Mexico export data reveals that the country mainly exports machinery and transport equipment, steel, electrical equipment, etc.
In 2019, Mexico-US trade amounted to approximately USD 671 billion. The US exported goods worth $299 billion and imported $372 billion from Mexico. The most important exports for this trade relation were electrical machinery, vehicle parts, machine parts, mineral fuels (natural gas, gasoline).
Canada primarily exports crude oil to Mexico at about USD 68 billion. Oil is followed by cars totalling up to USD 41 billion. Saw wood, turbojets, medications are also exchanged between Mexico and Canada.
Japan imports roughly USD 5,776 million worth of goods from Mexico. This includes scientific optical instruments, electrical machinery, fruits, automobiles and non-ferrous metals.
7. South Korea
Brazil and Mexico have free trade agreements on buses and trucks as per the Mexico export data.
Mexico gets help in digital, data, and services from the United Kingdom. The main trade includes gold, beer, automobile parts and other electrical equipment.
Columbia is Mexico's top supplier of crude oil based on the Mexico export data. Coal, petrol, fuel, ferroalloys and emeralds are also exchanged.
Top Countries That Trade With Mexico
1. United States
In 2019, Mexico-US trade amounted to approximately USD 671 billion. The US exported goods worth $299 billion and imported $372 billion from Mexico. The most important exports for this trade relation were electrical machinery, vehicle parts, machine parts, mineral fuels (natural gas, gasoline).
2. Canada
Canada primarily exports crude oil to Mexico at about USD 68 billion. Oil is followed by cars totalling up to USD 41 billion. Saw wood, turbojets, medications are also exchanged between Mexico and Canada.
3. China
The Mexico-China relationship has worked out well for both countries. China exports electrical and electronic equipment, optical, medical and technical apparatus etc. Moreover, China exports more goods than it imports from Mexico.
4. Germany
Germany has a highly developed social economy market. With Mexico, it deals in the import and export of machinery, pharmaceuticals, textiles, electrical equipment etc.
5. Taiwan
Based on the Mexico export data, Taiwan's foreign trade with Mexico includes the import and export of basic metal, plastic products, chemicals, machinery etc.
6. Japan
Japan imports roughly USD 5,776 million worth of goods from Mexico. This includes scientific optical instruments, electrical machinery, fruits, automobiles and non-ferrous metals.
7. South Korea
Mexico is the only major pork supplier to South Korea. Mexico and South Korea's trade amounted to more than USD 17 billion in 2020.
8. Brazil
Brazil and Mexico have free trade agreements on buses and trucks as per the Mexico export data.
9. United Kingdom
Mexico gets help in digital, data, and services from the United Kingdom. The main trade includes gold, beer, automobile parts and other electrical equipment.
10. Columbia
Columbia is Mexico's top supplier of crude oil based on the Mexico export data. Coal, petrol, fuel, ferroalloys and emeralds are also exchanged.
What Does Mexico's Trading Future Hold?
Trade networks have provided Mexico with a profitable revenue model, stronger communication and more successful relations with other countries like the US, Taiwan, and South Korea. Further reading of Mexico trade data reveals that the future is bright for the North American nation.
No comments:
Post a Comment