#ElDatoDeLaSemana: Unsuspeeling U.S.-Mexico Trade (Video)

Business

By CAPosts 08 August, 2020 - 12:59am 43 views

(Expansion) – This week, the United States released figures on its trade balance in June 2020. In addition to showing the performance of the neighboring country's total external trade, results were also presented on the performance of trade with Mexico. In June, both U.S. imports and exports showed increases from the previous month, although they remain below the levels seen in June 2019.

The growth in imports – +4.7% when compared to May – shows an improvement in the purchasing power of the country's population, due to a gradual revival of activities and an increase in income after the sharp declines observed at the start of the pandemic. Exports, meanwhile, +9.4% compared to May - show a revival of the country's production and manufacturing activities. Both have implications for Mexico, as they represent an increase in demand for goods produced in Mexico, both for final consumption in the United States and intermediate inputs for the production of exported goods. This is clear in observing the performance of Mexico's exports to the United States: although they are still (-)15.3% below june 2019, they increased 72.9% from the Level of May 2020, the first monthly growth so far in the pandemic. Thus, in June, Mexican products contributed 14.4% of the total imports made by the United States. Although it represents a recovery from the previous month – in May, Mexican products accounted for only 9.1% of the total imports made by the United States – contrasting with the performance of other countries. In particular, China's exports to the United States increased for the third consecutive month, contributing 20.9% of the country's total imports, significantly higher than at the beginning of the year: in the first quarter of 2020, Mexico accounted for 15.4% of total imports, and China contributed 13.3%.

Despite trade tensions observed between China and the United States since before the pandemic, the fact that the pandemic originated months earlier in the Asian country - where strict measures were also implemented to contain it and reopen the economy from March on - has allowed Chinese products to gain weight in the U.S. market and replace to some extent Mexican goods that have ceased production due to temporary suspension of activities. To regain its weight in the U.S. market – and to take full advantage of the benefits of the new T-MEC – it will be important for Mexico to implement a responsible and secure reopening of its activities, as well as a COVID-19 case control strategy, so that this reopening is sustainable. Note the editor: Mexico, how are we doing? records the country's economic growth in detail. Follow them on Twitter , Facebook and Instagram . The opinions expressed in this column are solely for the author. Learn more about this and other topics on the Review

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