Mexico repeats as the largest commercial supplier to the US

For the second consecutive time, Mexico is on track to be the largest supplier of merchandise to the United States. According to official data, at the end of November, our country was ranked as the nation that buys the most from the neighboring nation, and also its main trading partner, measured by the sum of the value of exports and imports, above from countries like Canada and China.

According to data published this Tuesday by the Census Bureau of the United States Department of Commerce, between January and November 2024, trade between Mexico and the United States had a value of 776 billion dollars, an increase of 5 percent compared to the 738 thousand 400 million dollars for the same period of 2023.

In this way, Mexico represents 15.9 percent of the global trade of the main economic power in the world, above Canada, which with 699.6 billion dollars accounts for 14.3 percent, and China, which with 532.4 billion dollars. represents 10.9 percent.

Germany is far behind, with 217.1 billion dollars, equivalent to 4.4 percent of the total; Japan, with 208.9 billion, 4.3 percent, and South Korea, with 180.8 billion dollars, equivalent to 3.7 percent of the 4.881.7 billion dollars that the US traded with the world in the first 11 months of 2024.

According to data from the US government agency, Mexico’s exports to that country amounted to 466.6 billion dollars between January and November, an increase of 6 percent compared to 439 billion dollars reported in the same period of 2023.

With these results, Mexico remains the main supplier to the United States, leaving behind Canada, which registers 277.2 billion dollars, and China, which ranked third with 532.4 billion dollars.

In this way, Mexico will end 2024 as the largest seller of merchandise to the US, a place from which last year it overtook China, which had been leading that sector for more than 20 years. It will be next February 5 when the US Census Bureau will release data for the entire year. If the trend continues, our country will spend two years as the main trading partner and supplier of the largest power in the world.

Mexico’s rise comes at a time when Washington is applying a concept called friendshoringwhich involves diversifying US supply chains among allies and partners, amid increased concerns about competition with China and national security tensions between the world’s two largest economies. However, the arrival of Donald Trump to power has raised uncertainty about his continuity.

Regarding imports to Mexico from the United States, they stood at 309,400 million pesos in the first 11 months of 2024, an increase of 3 percent compared to 299,400 million dollars reported in the same period of one year before.

In terms of November alone, trade between Mexico and the United States stood at 69.1 billion dollars, 15.4 percent of what Americans traded with the world. In second place was Canada, with 61.8 billion dollars, equivalent to 13.8 percent of the US global exchange, while in third place was China, with 50.5 billion pesos, equal to 11.3 percent of the US total. .