Mexico | Mexico's trade is more concentrated towards the United States.

Summary

As of 1Q24, Mexican exports totaled 144 billion dollars and imports totaled 146 billion dollars. 82.7% of Mexican´s exports went to the US and manufacturing exports totaled 127.1 billion dollars, 88.5% of the total. FDI as of 1Q24 amounted 20.3 billion dollars, 13.6% lower than 1Q23.

Key points

• Key points:
• As of 1Q24, Mexican exports totaled 144 billion dollars, while imports totaled 146 billion dollars, resulting in a trade deficit of only 3 billion dollars.
• Manufacturing exports totaled 127.1 billion dollars, 1.9% more than in 1Q23, contributing 88.5% of the total; while manufacturing imports totaled 130.4 billion dollars, 5.5% more than a year earlier.
• Mexico continues to be the USA's main trading partner. Canada now also surpasses China as an exporter to the US, exporting 100.9 billion dollars, while China exported 97.6 billion dollars.
• Mexico received 20.3 billion dollars of FDI in 1Q24, representing a 13.6% drop compared to the same quarter of the previous year. Manufacturing and financial services are the main recipients of FDI.
• Of the total FDI, reinvestments were for 19.6 billion dollars, 97% of the total; while only 3.0% are new investments, almost 600 million dollars.

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