Mexico has made history in its trade relationship with the United States, surpassing China and Canada to become the leading supplier to the US market. Data from the US Census Bureau shows Mexico contributing 15.7% of all US imports from January to August 2024, marking a significant increase from the previous year. This upward trend over the past decade contrasts with a decline in market shares for China and Canada.
Marcelo Ebrard, Mexico’s Secretary of Economy, is optimistic about the country’s growing market share, which has tripled since 1988. Mexican exports to the US in August 2024 grew by 12.5%, exceeding Canada and China’s growth rates.
Mexico’s focus on increasing the value of exports and strengthening national content aims to further enhance trade relations with the US. With a 5.8% increase in exports to the US in 2024, Mexico is on track to become the top destination for US merchandise exports globally, signaling a new chapter in North American trade dynamics.
The strategic positioning of Mexico as a key trade partner reflects evolving global supply chains and regional economic integration, with potential for further shifts in the trade landscape ahead.