Last April, the value of Mexico’s exports to the United States registered its biggest contraction at an annual rate since 1986, when it fell 47.9 percent compared to the same month the previous year, along with a 43.8 percent decline in imports. amid measures to contain the progression of the coronavirus. Read Reduce housing production builders
The country’s sales to the US stood at 15.829 billion dollars in April, its lowest amount since August 2009 when it was 15.61 billion, according to information from the US Department of Commerce.
The country’s sales to the US were placed at 15 thousand 829 million dollars in April. Photo: Reforma
Meanwhile, imports to the United States totaled 12 thousand 528 million dollars, a value slightly higher than the 11 thousand 715 million recorded in February 2010.
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The sum of exports and imports resulted in a bilateral trade between the two countries of 28,357 million dollars, 46.2 percent less at the annual rate, an unprecedented reduction due to the effects of Covid-19.
In February 2010, when the world was not dealing with the coronavirus, bilateral trade totaled $ 28.175 billion, so the figure for April this year barely exceeds that record.
The US trade balance report states that because of the Covid-19 many companies are operating in limited capacity or have ceased operations entirely.
Amid the decline in exports and imports in April, Mexico had a trade surplus with the United States of $ 3,302 million, after plummeting 59.1 percent annually.
In cumulative terms, the decrease in the country’s sales to the United States was 11.6 percent in the first four months of 2020, its steepest decline since 2009, when it yielded 26.9 percent, due to the impact of the outbreak of the financial crisis. international.
From January to April 2020, the country’s purchases from the US were for 72 thousand 807 million dollars, 15.6 percent below the record for the same period of the previous year, which makes this decline to the deepest in 11 years .
The above combined with exports of 103 thousand 326 million dollars materialized in a trade surplus in favor of Mexico of 30 thousand 519 million, an amount that meant a slight reduction of 0.3 percent annually.
In the January-April period, the US trade deficit that narrowed the most was with China, falling 28.6 percent annually. While the imbalance that increased the most was with Switzerland, with 97.6 percent, followed by the one with Canada, with a rebound of 64.6 percent.
Despite the fall in the deficit that the US accumulates with China, the Asian country continues to lead with the greatest imbalance in terms of value, followed by Mexico.
On January 15, the United States and China signed a first-phase trade agreement, which has faced pressure from Washington to Beijing for the management of the coronavirus and national security legislation for Hong Kong.
Mexico, the United States and Canada are part of the trade agreement known as T-MEC, which will enter into force on July 1.
For its part, only during April and with seasonally adjusted figures, the global deficit in the trade balance of goods and services in the United States shot up 16.7 percent per month to 49 thousand 409 million dollars.
This was the result of a combination in which exports suffered a decline of 20.5 percent per month and imports of 13.7 percent.