MEXICO CITY.— In Septemberlas Mexican merchandise exports towards the United States reached a historic level by adding 44,155 million dollars, the highest figure ever recorded for a single month, according to data from the United States Census Bureau and resumed yesterday by The Financier.
This performance not only represented strong growth in 11.7 percent compared to the same month of 2023, but also consolidated Mexico as the main supplier of merchandise to the world’s leading economy, for above China and Canada.
This advance allowed Mexico to capture the 15.4 percent of total imports Americans in September, surpassing China, which maintained a 15 percent share, as Canada, which lagged behind at 12.1 percent.
The figures reflect the strengthening commercial ties between Mexico and the United Statesespecially in a context where global supply chains are increasingly seeking more stability and geographical proximity.
Mexico leads exports to the US, beats China and Canada
In the period from January to September, Mexican exports to its northern neighbor totaled 378,884 million dollars, which reflected an increase in 6.5 percent compared to the same period in 2023.
This accumulated growth reaffirmed Mexico as the main supplier of merchandise to the US marketwith a share of 15.7 percent of total United States imports.
China, with whom the United States has a historically important trading relationship, saw its share reduced to 13.3 percent in the first nine months of the year, while Canada reached 12.8 percent.
In addition to leading in exports, Mexico positioned itself at the top of total trade (sum of exports and imports) with the United States, reaching an amount of 632.3 billion dollars between January and September.
This figure represented a share of 15.9 percent in US foreign trade, record figure that distances Mexico from its main competitors commercial, since Canada sand was left with a share of 14.4 percent, and China, with 10.8 percent.
US deficit
The United States deficit in its foreign trade in goods and services rose 11.8% in the first nine months of the year, compared to the same period of the previous year, reaching 660,579 million dollars, the Analysis Office reported this Tuesday. Economic.
Exports increased 84.7 billion, 3.7%, while imports rose 154.4 billion dollars, 5.3%, in this period of the year.
On a monthly basis, in September the goods deficit and services increased by 19.2%, to $84.4 billion, the highest record in 30 months, with exports posting a drop of 1.2%, to $267.9 billion, and imports growing 3%, to the 352.3 billion dollars.
The increase in imports reflects the strength with which consumption is maintained in the United States with an increase in imports of consumer goods by around 4 billion dollars.
Increase in deficit, negative balance
Increase in the deficit of goods and services reflects growth in the negative balance, they say.
The increase in the deficit in goods and services in September reflects a growth in the negative balance in goods of 14.2 billion dollars, up to 109 billion, and an increase in the surplus in services of 600 million, up to 24.6 billion.
Las average exports They rose 900 million dollars, to 268.5 billion, in September, while average imports grew 4.7 billion dollars.
Much of the increase in imports was due to importers getting ahead of the expected dockers’ strike at ports and the Gulf of Mexico.
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**Interview with Dr. Laura Ramos, Trade Economist, on Mexico’s Historic Export Growth to the U.S.**
**Host:** Thank you for joining us, Dr. Ramos. We’re seeing some remarkable figures regarding Mexico’s merchandise exports to the United States. Can you break down what contributed to this historic level of $44.155 billion in September?
**Dr. Laura Ramos:** Absolutely. This surge in exports is attributed to several factors. Firstly, the rebound in global demand as economies recover post-pandemic has favored Mexican exports. Additionally, Mexico’s proximity to the US and its established trade agreements have made it a preferred partner for American manufacturers looking for stability in supply chains.
**Host:** Mexico has now overtaken China and Canada as the primary supplier to the U.S. market. What does this shift imply for future trade relationships?
**Dr. Laura Ramos:** This shift highlights a significant reorientation in trade dynamics. It suggests that U.S. companies are prioritizing reliability and geographical proximity, especially in light of ongoing global supply chain disruptions. It may also prompt China to reassess its trade strategies and strengthen its bilateral ties with other regions.
**Host:** You mentioned the stability of supply chains; how does Mexico’s position enhance this aspect for U.S. importers?
**Dr. Laura Ramos:** Mexico’s consistent export growth and its ability to quickly adapt to market demands enable U.S. companies to mitigate risks associated with longer supply chains. Firms can benefit from shorter lead times, which is crucial in fast-paced markets. Furthermore, Mexico’s manufacturing capabilities in various sectors—from automotive to electronics—are robust and diversified.
**Host:** Looking at the broader picture, Mexico accounted for 15.4% of total U.S. imports in September. How does this affect the overall economic landscape regionally and globally?
**Dr. Laura Ramos:** This increase is likely to bolster Mexico’s economy significantly, generating more jobs and reinforcing its position in North America. Globally, it could lead to shifts in how countries position themselves in trade networks. Countries may seek to create regional partnerships that mirror the successful trade relationship between Mexico and the United States.
**Host:** what should we expect moving forward, considering the current trends?
**Dr. Laura Ramos:** If these trends continue, we can expect Mexico to strengthen its trade position further, particularly as sectors like technology and renewable energy expand. However, it will be crucial for Mexico to invest in infrastructure and workforce development to maintain this growth and continue attracting U.S. investments.
**Host:** Thank you, Dr. Ramos, for your insights into this pivotal moment in trade between Mexico and the U.S.
**Dr. Laura Ramos:** Thank you for having me; it was a pleasure.