Mexico Sets Record in Exports to US Through February
Mexico has demonstrated outstanding performance in exports to the United States, consolidating its position as its main trading partner. During the first two months of the current year, Mexican exports to the United States reached a record of $78.287 billion, representing a 7.7% growth compared to the same period last year. This increase significantly surpassed the 2.6% rise in Mexican imports of U.S. products. As a result, Mexico’s trade surplus with the United States expanded to a new high of $25.023 billion.
This success is primarily attributed to the dynamism of Mexican exports, which stood out in February by growing 12.8% year-on-year, reaching $40.245 billion. In contrast with other major suppliers to the United States such as Canada and China, Mexico experienced much more significant growth in its exports.
This momentum is expected to continue in the coming years, especially due to forecasts of increased activity in key sectors such as foreign investment and manufacturing. The construction of new manufacturing plants both inside and outside of Mexico bodes well for the creation of new value chains that will benefit Mexican companies.
These figures underscore the importance of the trade relationship between Mexico and the United States, with Mexico remaining the United States’ top trading partner in terms of goods exchange. The rapid recovery of trade flows following the COVID-19 pandemic offers optimism for the future, with expectations that both exports and imports of goods will remain in line with pre-pandemic trends.
To read the full article: https://www.eleconomista.com.mx/empresas/Mexico-bate-record-en-exportaciones-a-EU-a-febrero-20240404-0136.html