US-Mexico Trade Up Nearly 11 Percent
By THE PULSE NEWS MEXICO STAFF
Combined two-way trade between Mexico and the United States amounted to $56.908 billion in March, representing its highest level in history for a single month, according to data from the U.S. Census Bureau.
U.S. President Joe Biden’s economic aid package for $1.9 trillion allowed the U.S. economy to quickly reactivate and led to increased trade, including to Mexico, explained Jorge O. Armijo, executive secretary of the Mexican Council of International Affairs (Comexi), in an interview published in El Financiero on Wednesday, May 5.
Consequently, Armijo said, Mexican exports to the United States reached a total of $33.4 billion in March, representing a 10.9 percent increase on an annual basis.
Therefore, Mexican exports in March reached were at their highest level in history, largely influenced by the strong recovery of the U.S. domestic market.
During the same time period, Mexican imports from the United States also increased, amounting to $23.509 billion, representing a 17.3 percent annual growth rate.
This figure constituted Mexico’s second-highest import figure on record, up by $24.647 billion over the previous record in October 2018.