Mexico’s trade with its NAFTA partners is poised to grow according to the latest forecast by Delta Economics. The USA and Canada combined buy up around 80% of all outbound goods from Mexico and September-October trade with these partners grew by 11.6% (US) and 11.9% (Canada) month-on-month. Whilst trade is expected to slow down in October-November, the year-on-year picture is far more promising: exports to Canada will improve by 14.6% in November and by 8.2% with the US, which is an improvement on 2013.
In particular, the Mexican technology sectors will see impressive gains in November: exports in mechanical appliances and Computers will improve by 17.1% with Canada and by 13.5% with the USA; while sales in electrical machinery will grow year-on-year by 10.3% with Canada and by 4% with the US. Exports of road vehicles to Canada will grow by 21.7% and with the USA by 11%, year-on-year.
Exports continue to drive the Mexican economy but a large part of this may be due to an upswing in the US economy rather than due to improvements in the domestic variables.
For more information, visit Delta Economics.
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