Mexico’s trade with its NAFTA partners continue to thrive according to the latest forecast by Delta Economics. The US remains the go-to destination for Mexican exports, buying up the lion’s share at around 77% of all outbound goods. Canada, which is only second in the destination rankings, purchases a mere 3% in comparison.
Delta Economics can also report that July-August trade with both the US and Canada went up by 6% month-on-month. Whilst August-September is likely to see a slowdown in the growth of trade, possibly due to the large number of official and civic holidays that take place in September, exports will bounce back in October, with a rise of 12% expected to both the US and Canada.
In particular, the Mexican tech-sectors will see impressive gains with Canada in sales of motor vehicles, up 42% on the previous year, but also, too, with Radio and TV transmitters +11%, and Car Parts +14%. Trade with the US will be modest in contrast, with a year-on-year rise of 15% in Computers and +13% in electrical apparatus, expected in 2014.
Overall, we see that exports are bolstering the Mexican economy but this may be due to the upswing in the US economy rather than any improvements in the domestic drivers.
For more information, visit Delta Economics.
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