For the first time, Mexico is the largest trading partner in the USA

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During the first two months of 2019, Mexico was for the first time in history as the main trading partner of the United States. The value of exports and imports between both countries amounted to 97 thousand 418 million dollars.

During the first two months of 2019, Mexico was for the first time in history as the main trading partner of the United States. The value of exports and imports between both countries amounted to 97 thousand 418 million dollars.

This amount represented 15 percent of the total trade of the largest economy in the world , the highest with a country, and was an unprecedented figure with Mexico, according to the records of the Department of Commerce of that country.

The effect of the trade war between the United States and China led to a contraction in merchandise traffic between the two economies, and the Asian country fell back to third place among the main trading partners , breaking a three-year streak of heading this list.

Total trade between the United States and China totaled 90 thousand 366 million dollars , 13.5 percent less than in 2018, while Mexico achieved an advance of 3.4 percent , and although moderate, allowed it to exceed 97 billion dollars , with what he left behind the Asian giant .

Despite this, Enrique Dussel Peters, coordinator of the Center for China-Mexico Studies (CECHIMEX) of the UNAM, considered that by reviewing only the value of exports made by Mexico and China to US territory, the difference is still enormous.

“Although in 2000 Mexico seemed to compete with China, today we play in a different league, where the only exception is exports from the automotive sector,” he said.

In the US imports, China continues to lead , with a total of 74,798 million dollars, while Mexico is in second place, with 55 thousand 294 million dollars.

This means that 19.2 percent of total purchases made by the United States are Chinese, while those of Mexican origin represent 14.2 percent. The third place is Canada , with 19.2 percent, and in the fourth, Japan , with 5.9 percent.

Historical surplus of Mexico

The trade balance between Mexico and the United States showed a historical surplus for the country, of 7 thousand 402 million dollars, the highest for a month of February since it has records.

The main ‘culprit’ of the positive balance in the trade balance was derived from Mexican exports to US soil , since the shipment of goods reflected a value of 27 thousand 613 million dollars, which represented an increase of 5 percent annually.

Almost 40 percent of Mexican sales were from the automotive industry, with 10 thousand 534 million dollars. Mexico is the main supplier of the United States in this segment, mainly by auto parts, which totaled almost 5 billion dollars.

Regarding imports from the United States, the amount amounted to 20 thousand 210 million dollars, slightly lower than the 20 thousand 224 million dollars that were registered a year earlier.

Mexico’s surplus for the first two months amounted to 13,171 million dollars, also at an unprecedented level, and 29 percent higher than that reported in the same period of 2018. This amount implied the second largest trade imbalancefor the northern neighbor .

China remains the country with the largest trade surplus with the United States, reporting a balance of 59.2 billion dollars between January and February.

The third site corresponds to Japan , with an amount of 11 thousand 100 million dollars. They are followed by Germany and Vietnam , with 9,700 and 9,300 million dollars, respectively.

Source: el financiero

The Mazatlan Post