What is the trade deficit with Mexico?
U.S. goods and services trade with Mexico totaled an estimated $677.3 billion in 2019. Exports were $289.5 billion; imports were $387.8 billion. The U.S. goods and services trade deficit with Mexico was $98.5 billion in 2019.
Does the US have a trade surplus with Mexico?
In services trade, the United States had a surplus with Mexico of $3.1 billion in 2019, down from $5.1 billion in 2018. U.S. services exports to Mexico totaled $32.9 billion in 2019, up from $14.2 billion in 1999, while imports increased from $9.7 billion in 1999 to $29.8 billion in 2019.
Is Mexico in a surplus or deficit?
Mexico recorded a trade surplus of USD 0.20 billion in March of 2022, switching from a USD 2.95 billion deficit in the corresponding month of 2021, but missing market expectations of a USD 0.66 billion surplus.
What was the US trade deficit with Mexico in 2016?
approximately US $58 billion
The United States largest commercial trade deficit was with China. While as of November of 2016, the US trade deficit with Mexico stood at approximately US $58 billion, the US deficit with China was valued at approximately six times larger at over US $319 trillion.
Which country has the largest trade deficit with the US?
China
The largest deficit in goods in the United States is with China. In fact, over 65% of the trade deficit – or $419 billion – is because of imports from China. The main imports that the US purchased from China include clothing, machinery, and electronics.
Which country has the highest trade deficit?
United States
This is a list of the 20 countries and territories with the largest deficit in current account balance (CAB), based on data from 2019 est. as listed in the CIA World Factbook….By CAB.
| Rank | 1 |
|---|---|
| Country | United States |
| CAB (Million US dollars) | -480,225 |
| Year | 2019 EST. |
How does us benefit from Mexico?
In 2020, Mexico was the second-largest supplier of foreign crude oil to the United States, as well as the largest export market for U.S. refined petroleum products and U.S. natural gas. Other top U.S. exports to Mexico include machinery, electrical machinery, vehicles, mineral fuels, and plastics.
Who is Mexico’s biggest trade partner?
Mexico top 5 Export and Import partners
| Exporter | Trade (US$ Mil) | Partner share(%) |
|---|---|---|
| United States | 206,142 | 45.28 |
| China | 83,052 | 18.24 |
| Japan | 17,958 | 3.94 |
| Germany | 17,690 | 3.89 |
Does Canada have a trade deficit with Mexico?
About. Overview In April 2022 Canada exported C$727M and imported C$3.53B from Mexico, resulting in a negative trade balance of C$2.8B. Between April 2021 and April 2022 the exports of Canada have increased by C$121M (20%) from C$606M to C$727M, while imports increased by C$884M (33.4%) from C$2.64B to C$3.53B.
How much did the US spend on imports from Mexico in 2020?
The deficit with Mexico increased $4.8 billion to $9.0 billion in June. Exports increased $4.8 billion to $15.5 billion and imports increased $9.6 billion to $24.5 billion….U.S. International Trade in Goods and Services, June 2020.
| Deficit: | $50.7 Billion | -7.5%° |
|---|---|---|
| Imports: | $208.9 Billion | +4.7%° |
Why does the US trade with Mexico?
The U.S.-Mexico bilateral economic relationship is of key interest to the United States because of Mexico’s proximity, the extensive cultural and economic ties between the two countries, and the strong economic relationship that developed over the past 26 years under the North American Free Trade Agreement (NAFTA).
What country has the largest trade deficit 2021?
Many nations around the world have trade deficits, including the United Kingdom, Mexico, Brazil, and the United States. The United States has the largest trade deficit in the world.
Who is America’s biggest trading partner?
Canada
Who Does the U.S. Trade Most With?
| Rank | U.S. Trade Partners | Goods Exports (in billion U.S. dollars) |
|---|---|---|
| #1 | Canada | $307.6 |
| #2 | Mexico | $276.5 |
| #3 | China | $151.1 |
| #4 | Japan | $75.0 |
What is America’s largest import from Mexico?
Agricultural Products Mexico is the biggest source of all agricultural imports for the U.S. In 2018, this included $5.9 million of fresh vegetables, $5.8 billion of fresh fruit, $3.6 billion of wine and beer, $2.2 billion of snack foods, and $1.7 billion of processed fruit and vegetables.
What is Mexico’s highest export?
Mexico’s Top Exports
- Crude petroleum – $9.78 billion.
- Gold – $4.82 billion.
- Refined petroleum – $2.82 billion.
- Copper ore – $2.47 billion.
- Silver – $1.81 billion.
What does Mexico give to Canada?
In 2020, Mexico exported $16.1B to Canada. The main products exported from Mexico to Canada were Cars ($2.59B), Vehicle Parts ($1.17B), and Delivery Trucks ($1.09B). During the last 25 years the exports of Mexico to Canada have increased at an annualized rate of 7.14%, from $2.87B in 1995 to $16.1B in 2020.
How does Canada benefit from trading with Mexico?
The greatest advantages for Canadian firms are Mexico’s skilled but relatively lowcost workforce, mature clusters in key sectors, access to international markets facilitated by preferential trade agreements, and integration in both North American and Latin American supply chains.
How does U.S. benefit from Mexico?