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Mexico-US Trade Tops $671 billion in 2018
August 26, 2019
Mexico-US trade expanded over the past quarter century, from $100 billion in 1993 to $671 billion in 2018. US imports from Mexico are over $1 billion a day or $372 billion in 2018, and US exports to Mexico are almost $1 billion a day or $299 billion in 2018. The US runs a trade deficit with Mexico, about $73 billion in 2018.
There is a major difference between Mexico and the US in trade. Over 80 percent of Mexican exports go to the US, while only a sixth of US exports go to Mexico. This means that Mexico is far more dependent on the US to accept its exports than the US is dependent on Mexico to accept its exports.
The US has had a deficit in agricultural trade with Mexico since 2014. The US exported farm goods worth $19 billion to Mexico in 2018, while the US imported farm goods worth $26 billion from Mexico in 2018.
The major US farm exports to Mexico include corn, grains and meat; many of the corn and grains shipped to Mexico are used to feed poultry and livestock.
The major US farm imports from Mexico include $6 billion of fresh fruit, led by avocados and berries, and $6 billion of fresh vegetables, led by tomatoes.
Mexico has a competitive advantage in producing some fruits and vegetables for US consumers due to its climate, widespread use of protected culture or plastic-covered hoop structures that raise yields, reduce pest and weed issues, and extend the season during which crops can be grown, and lower labor costs. Farm worker wages in Mexico are $10 to $15 a day, a tenth of US farm worker wages.
Mexico-US trade has increased six-fold since 1993
US agricultural exports to Mexico are dominated by corn, grains, and meat
US agricultural imports from Mexico are dominated by fresh fruits and vegetables