Mexico Exports: maintains confidence in international trade thanks to the recovery in demand and production
In the first half of 2021, Mexico maintained its score of 117 in the HSBC International Trade Confidence Index, which includes a survey of 5,500 exporters, importers and exporters of international trade.
?The performance of Mexican exports was affected by the COVID-19 pandemic and health restrictions in 2020, but has gradually recovered in 2021 thanks to the reactivation of demand from the United States and the progress of the vaccination process . Mexico has benefited from its integration with the US market and its diversification of products and export destinations. Furthermore, the energy reform approved in 2013 has boosted investment and production in the sector, which has generated greater dynamism in foreign trade?, explained Mauricio Muñoz, director of International Trade at HSBC Mexico.
According to the study prepared by HSBC every six months, Mexico's trade balance registered a surplus of 24.7 billion dollars in 2020 and is expected to reach a surplus of 28.5 billion dollars in 2021³.
The above is due to the increase in oil production, which went from 1.7 million barrels per day in 2020 to 1.8 million in 2021, and the increase in manufacturing exports, especially in the automotive industry. 4.
In general items of Mexican exports, they grew 18.5% year-on-year in 2021, to 494 thousand 224 million dollars, while imports increased 32.1%, to 505 thousand 715 million dollars5. Mexico's main trading partners were the United States, China, Canada, Germany and Japan.
- 1: HSBC Trade Confidence Index
- 2: HSBC Mexico, SA,
Multiple Banking Institution, HSBC Financial Group - 3: Mexico – Balance
Mexico Merchandise Trade 2021 - 4: Mexico: reform
energy at the expense of the environment? DW? 10/12/2021 - 5: Exports of
Mexico grows 18.5% in 2021 – El Economista - 6: Mexico | Commercial data -
World Bank