To evaluate the financial health of a country you can resort to the Balance of tradewhich is a macroeconomic indicator that records what Mexico sells to the world (exports), and on the other hand, it counts what we buy from the world (imports).
If the imports exceed the exportsthen, we have a negative balance, which means that as a country, we are spending more dollars on buying merchandise than the dollars we receive from the sale of ours, and as a consequence, our currency weakens and the same happens with our economy.
Otherwise, if the balance of the Trade Balance is favorable, it is said that there is a surplus and therefore, more dollars are entering the country than are leaving and that strengthens our currency, since there are more dollars to boost our economy and create jobs.
In this sense, Mexico exported 92,678 million dollars of merchandise to the whole world in the first 2 months of 2024, while we imported 97,578 million dollars, so for the 3rd consecutive year we have a negative balance of the Trade Balance of 4,899 million dollars.
It should be noted that historically, Mexico has had a negative balance of the Trade Balance, with the exception of periods of economic crisis, such as the Covid-19 Pandemic and the 1995 crisis, and that occurs, because the depreciation of the peso causes the cheaper of our goods and Exports grow, which gives rise to a positive balance.
But, who are our main commercial partners? Will the President's friends be there, such as Ecuador, Guatemala, El Salvador, Honduras, Bolivia, Colombia, Chile, Belize, Cuba or Venezuela?
These 10 countries represent, together, only 1.5% of our total exports.
While on the other hand, of the 195 countries in the world, of everything we sell, 81% is sold to the United States and in second place is Canada with 2.8%.
Of our exports, 87% are manufacturing, 6% are petroleum products, 5% are agricultural and 2% are mining.
While the 6 border states of the country (Chihuahua, Coahuila, Nuevo León, Baja California, Tamaulipas and Sonora), represent 58% of Mexican exports.
And on the contrary, of everything that Mexico buys from the world, 39% is bought from the United States, followed by China with 21.3%, Germany 3.9%, Japan 3.3%, Taiwan 2.6%, Brazil 2.0% and Canada 1.9%.
While from the perspective of the United States, Mexico has become its main trading partner, displacing Canada and China, in the first 2 months of 2024.
Since of everything that the United States buys from the world, 15.6% is bought from Mexico (78,287 million dollars), becoming its main supplier of merchandise, followed by China with 13.5% (67,688 million dollars) and Canada 13.3% ( 66,704 million dollars).
While on the other hand, Canada is the main destination of US exports with 16.6% (54,797 million dollars), followed by Mexico with 16.1% (53,264 million dollars) and China 7.3% (24,084 million dollars).
Therefore, as a whole, Mexico is the main country in the world with which the United States trades, since the trade flow (exports plus imports) amounted to 131,551 million dollars during the months of January and February 2024.
Therefore, I ask you, dear reader: with which countries should we strengthen our diplomatic relations, with the 10 friendly countries of the President that represent 1.5% of trade or with the United States and Canada, which represent 84%?
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