Mexico’s trade surplus with the US reaches record highs in August
Last August, just at the height of the negotiations between Mexico and the United States for a new trade agreement, Mexico’s trade surplus with the United States reached an unprecedented amount of US$ 8.69 billion, which represented a 40% hike, the highest growth since 2010, according to records of the Department of Commerce. (PDF)
This amount was a result of US$ 31.12 billion in Mexican exports, also a record figure and representing an annual growth of 15%, its highest rate since March 2012. Meanwhile, Mexico’s imports from the U.S. totaled US$ 21.43 billion, a decrease of 5.7% or US$ 1.3 billion.
From January to August, Mexico exported goods to the United States worth US$ 228.68 billion, 10.5% higher than the same period of last year. During this period, Mexican merchandise represented 13.7% of total US imports, which also represents a record figure.
This increase is attributable to the rise of 7.7% in Mexican automotive exports, which rose to US$ 82.78 billion from January through August, representing 36.2% of total.