Mexico

Mexico ranked No. 1 in total trade value through July with a total of $290.63 billion. Exports totaled $117.48 billion and Imports totaled $173.14 billion, a deficit of $55.66 billion.

U.S. trade with Mexico rose to $290.63 billion through July

Mexico’s trade with the United States rose to $290.63 billion through the first seven months of 2020, according to a WorldCity analysis of latest U.S. Census Bureau data. That’s 19.52 percent below its total trade during the same time period last year. U.S. exports to Mexico decreased 22.4 percent while U.S. imports from Mexico fell 17.44 percent. The U.S. deficit with Mexico was $55.66 billion.

Through July, the top five among the nation’s airports, seaports and border crossings were No. 1 Port Laredo; No. 2 Otay Mesa Freeway Border Crossing, Calif.; No. 3 El Paso Border Crossing, Texas; No. 4 Ysleta, Texas; and No. 5 Pharr International Bridge in Texas. 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 63.77 percent of Mexico’s U.S. trade.

Among those top five:

  • Trade with No. 1 Port Laredo fell 21.28 percent to $105.45 billion.
    Exports fell 24.94 percent to $42.26 billion. Imports fell 18.63 percent to $63.19 billion.
  • Trade with No. 2 Otay Mesa Freeway Border Crossing, Calif. fell 14.18 percent to $23.42 billion.
    Exports fell 18.91 percent to $8.13 billion. Imports fell 11.44 percent to $15.29 billion.
  • Trade with No. 3 El Paso Border Crossing, Texas fell 51.94 percent to $21.43 billion.
    Exports fell 44.55 percent to $10.26 billion. Imports fell 57.17 percent to $11.17 billion.
  • Trade with No. 4 Ysleta, Texas totaled $17.77 billion.
    Exports totaled $6.84 billion. Imports totaled $10.93 billion.
  • Trade with No. 5 Pharr International Bridge in Texas fell 15.85 percent to $17.26 billion.
    Exports fell 15.05 percent to $6.33 billion. Imports fell 16.3 percent to $10.94 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 $2.08 trillion, down 49.83 percent compared to the same period last year. The nation’s exports dropped 51.38 percent to $799.82 billion; imports dropped 48.81 percent to $1.28 trillion. The nation’s top five countries so far this year, by value, are Mexico; Canada; China; Japan and Germany. The overall trade deficit was $479.12 billion, down compared to the same period of last year when the deficit was $853.23 billion.

The top five U.S. exports to Mexico by value through July were the categories of Gasoline, other fuels; Computer chips; Motor vehicle parts; Computer parts; and Low value shipments, respectively. They accounted for 26.28 percent of total exports to Mexico.

The value of the top five categories of U.S. imports from Mexico –– Computers; Passenger vehicles; Commercial vehicles; Motor vehicle parts; and Oil –– accounted for 32.69 percent of all inbound shipments.

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

  • Gasoline, other fuels fell 34.62 percent compared to last year to $10.07 billion.
  • Computer chips rose 52.1 percent compared to last year to $6.65 billion.
  • Motor vehicle parts fell 37.52 percent compared to last year to $6.31 billion.
  • Computer parts fell 36.4 percent compared to last year to $4.65 billion.
  • Low value shipments fell 23.95 percent compared to last year to $3.2 billion.

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

  • Computers fell 4.32 percent compared to last year to $14.92 billion.
  • Passenger vehicles fell 36.17 percent compared to last year to $14.5 billion.
  • Commercial vehicles fell 23.55 percent compared to last year to $11.18 billion.
  • Motor vehicle parts fell 26.77 percent compared to last year to $10.83 billion.
  • Oil fell 29.6 percent compared to last year to $5.17 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.