Mexico

Mexico ranked No. 1 in total trade value through February with a total of $97.62 billion. Exports totaled $40.23 billion and Imports totaled $57.39 billion, a deficit of $17.16 billion.

U.S. trade with Mexico rose to $97.62 billion through February

Mexico’s trade with the United States rose to $97.62 billion through the first two months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 0.21 percent above its total trade during the same time period last year. U.S. exports to Mexico decreased 4.49 percent while U.S. imports from Mexico rose 3.79 percent. The U.S. deficit with Mexico was $17.16 billion.

Through February, the top five among the nation’s airports, seaports and border crossings were No. 1 Port Laredo; No. 2 El Paso Border Crossing, Texas; No. 3 Otay Mesa Freeway Border Crossing, Calif.; No. 4 Pharr International Bridge in Texas; and No. 5 Santa Teresa Border Crossing, N.M.. During the same period the previous year, the top five were No. 1 Port Laredo No. 2 El Paso Border Crossing, Texas No. 3 Otay Mesa Freeway Border Crossing, Calif. No. 4 Pharr International Bridge in Texas and No. 5 Santa Teresa Border Crossing, N.M.. In the current time period, the top five accounted for 67.91 percent of Mexico’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port Laredo fell 0.36 percent to $35.92 billion.
    Exports fell 3.22 percent to $15.09 billion. Imports rose 1.82 percent to $20.83 billion.
  • Trade with No. 2 El Paso Border Crossing, Texas rose 1.87 percent to $12.51 billion.
    Exports fell 1.39 percent to $5.1 billion. Imports rose 4.24 percent to $7.4 billion.
  • Trade with No. 3 Otay Mesa Freeway Border Crossing, Calif. rose 0.69 percent to $7.38 billion.
    Exports fell 3.27 percent to $2.69 billion. Imports rose 3.12 percent to $4.68 billion.
  • Trade with No. 4 Pharr International Bridge in Texas fell 0.77 percent to $5.83 billion.
    Exports rose 3.56 percent to $2.13 billion. Imports fell 3.09 percent to $3.71 billion.
  • Trade with No. 5 Santa Teresa Border Crossing, N.M. fell 2.08 percent to $4.66 billion.
    Exports fell 10.29 percent to $2.03 billion. Imports rose 5.38 percent to $2.63 billion.

Mexico ranked No. 1 among the United States’ top trade partners through the current period. In the same period one year ago, it ranked No. 1.

Meanwhile, total U.S. trade with the world increased to $635.89 billion, down 2.25 percent compared to the same period last year. The nation’s exports climbed 0.43 percent to $261.18 billion; imports dropped 4.04 percent to $374.71 billion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $113.53 billion, down compared to the same period of last year when the deficit was $130.45 billion.

The top five U.S. exports to Mexico by value through February were the categories of Gasoline, other fuels; Motor vehicle parts; Computer chips; Computer parts; and Low value shipments, respectively. They accounted for 27.82 percent of total exports to Mexico.

The value of the top five categories of U.S. imports from Mexico –– Passenger vehicles; Motor vehicle parts; Computers; Commercial vehicles; and Oil –– accounted for 35.55 percent of all inbound shipments.

Looking more closely at U.S. exports to Mexico:

  • Gasoline, other fuels rose 0.53 percent compared to last year to $4.18 billion.
  • Motor vehicle parts fell 2.95 percent compared to last year to $2.68 billion.
  • Computer chips rose 77.69 percent compared to last year to $1.83 billion.
  • Computer parts fell 34.52 percent compared to last year to $1.39 billion.
  • Low value shipments fell 4.26 percent compared to last year to $1.12 billion.

Looking more closely at U.S. imports from Mexico:

  • Passenger vehicles fell 8.11 percent compared to last year to $5.38 billion.
  • Motor vehicle parts rose 10.05 percent compared to last year to $4.43 billion.
  • Computers rose 6.5 percent compared to last year to $4.37 billion.
  • Commercial vehicles rose 38.04 percent compared to last year to $4.07 billion.
  • Oil rose 8.34 percent compared to last year to $2.14 billion.

In the latest annual figures available, Mexico recorded $614.5 billion in trade with the United States. Total U.S. exports to Mexico were $ 256.37 billion and imports from Mexico were $358.13 billion. The U.S. deficit with Mexico was $101.75 billion.