What you need to know about the Mexico-Canada Trade Report, in the framework of NAFTA
The negotiations of the North American Free Trade Agreement are among the most important issues on the North American International agendas. In this context, we present the most relevant points of the Mexico-Canada Trade Report, released by the Representation of the Ministry of Economy of Mexico in Canada and prepared based on the figures of the imports published in official sources of each country.
The total trade value of the North American region increased by 8.9% from January to May 2018, compared to the same period of the previous year. The total value was $ 474,207 million.
Mexico maintains its positions as a supplier and commercial partner of Canada
Mexico’s trade with the US and Canada was 51.1% in January-May 2018; in the same period 25 years ago the percentage was 30.2. According to the representation of the Ministry of Economy in Canada, this data highlights the importance of Mexico as a commercial partner of Canada and the USA.
In addition, Mexico remained Canada’s third largest trading partner worldwide, accounting for 4.3% of the Canadian market. Regarding exports, Mexico is the fourth market for Canadian products, after the USA, China, and the United Kingdom. As a supplier, Mexico maintained its position as Canada’s third largest supplier – with 5.5% of the total – after the US and China. In the field of investment, Canada is the third investor country in Mexico with 6.6%, after the USA (48.7%) and Spain (12%).
As an additional fact, the exchange of goods between the United States and Mexico increased 10%, representing $ 226,419 million dollars.
The main exported products were automobiles, road tractors for semi-trailers, engines, as well as their parts and, in the field of household appliances: televisions.
Source: Ministry of the Economy with data from Statistics Canada, of the report of the Representation of the Ministry of Economy of Mexico in Canada.
We invite you to check the full report here:
