U.S. & Mexico Trade Reached a Record - Breaking $460 Billion in 2011
U.S. - Mexico Trade Reached a Record - Breaking of $460 Billion in 2011
It has now been 18 years since the NAFTA began to expand trade across the North American region, providing a substantial boost to its competitiveness in the global economy, and strengthening the relationships between Mexico, the United States, and Canada.
Since NAFTA entered into force, U.S. - Mexico trade has multiplied by more than five; reaching $460 billion in 2011.
Mexico is the third largest U.S. trading partner and the second largest US export market. In 2011, Mexico purchased over $197 billion of U.S. goods, 13.3% of U.S. exports worldwide, a remarkable increase of 20% over the previous year.
Indeed, U.S. sales to Mexico exceed combined U.S. sales to Brazil, Russia, India and China - the BRIC countries ($176 billion) --, were nearly double U.S. exports to China alone ($104 billion), and were also larger than those to current TPP members taken together ($105 billion).
Similarly, Mexico buys more U.S. goods than all of the rest of Latin America ($168 billion), more than all the newly industrialized countries of Asia ($137 billion), and more than the combined purchases of Germany, France, United Kingdom, the Netherlands and Italy ($191 billion).