Mexico Exports: Maintains its confidence in international trade thanks to the recovery of demand and production

Mexico Exports: Maintains Confidence in International Trade Thanks to Demand and Production Recovery

In the first half of 2021, Mexico maintained its score of 117 on the HSBC International Trade Confidence Index, which includes a survey of 5,500 exporters, importers, and international trade exporters.

"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. In addition, the energy reform approved in 2013 has boosted investment and production in the sector, which has generated greater dynamism in foreign trade"

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.

This 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 from the automotive industry 4.

In general terms of Mexican exports, these grew 18.5% year-on-year in 2021, to 494,224 million dollars, while imports increased 32.1%, to 505,715 million dollars5. Mexico's main trading partners were the United States, China, Canada, Germany and Japan.

• 1: HSBC Trade Confidence Index
• 2:HSBC México, S.A.,Institution of Multiple Banking, HSBC Financial Group
• 3:Mexico - BalanceCommercial Merchandise of Mexico 2021
• 4:Mexico: energyreform at the expense of the environment – DW – 12/10/2021
• 5:Exports fromMexico grow 18.5% in 2021 - El Economista
• 6:Mexico | Commercial Data -World Bank