Resource Center
Mexico
The North American Free Trade Agreement (NAFTA) has fostered this relationship by virtue of the agreement's comprehensive, market-opening rules. It is also creating a more equitable set of trade rules as trade barriers in Mexico are reduced and eliminated.
U.S.-Mexico Trade Facts
U.S. goods and services trade with Mexico totaled $386 billion in 2007 (latest data available). Exports totaled $160 billion; Imports totaled $226 billion. The U.S. goods and services trade deficit with Mexico was $66 billion in 2007.
Mexico is currently our 3rd largest goods trading partner with $367 billion in total (two ways) goods trade during 2008. Goods exports totaled $151 billion; Goods imports totaled $216 billion. The U.S. goods trade deficit with Mexico was $65 billion in 2008.
Trade in services with Mexico (exports and imports) totaled $39.4 billion in 2007 (latest data available). Services exports were $23.8 billion; Services imports were $15.6 billion. The U.S. services trade surplus with Mexico was $8.2 billion in 2007.
Exports
Mexico was the United States' 2nd largest goods export market in 2008.
U.S. goods exports to Mexico in 2008 were $151.2 billion, up 11.1% ($15.1 million) from 2007, and up 197% from 1994 (the year prior to Uruguay Round). It is up 264% since 1993 (Pre-NAFTA). U.S. exports to Mexico accounted for 11.7% of overall U.S. exports in 2008, up from 10% in 1994.
The top export categories (2-digit HS) in 2008 were: Electrical Machinery ($24.9 billion), Machinery ($22.1 billion), Vehicles ($14.0 billion), Mineral Fuel and Oil ($11.1 billion), and Plastic ($10.7 billion)
U.S. exports of agricultural products to Mexico totaled $16.0 billion in 2008, the 2nd largest U.S. Ag export market. Leading categories include: coarse grains ($2.7 billion), red meats, fresh/chilled/frozen ($2.0 billion), and soybeans ($1.8 billion), and wheat ($1.0 billion).
U.S. exports of private commercial services* (i.e., excluding military and government) to Mexico were $23.8 billion in 2007 (latest data available), 9.8% ($2.1 billion) greater than 2006 and 110% ($12.4 billion) greater than 1994 levels. The other private services (business, professional, and technical services), and the travel categories accounted for most of U.S. exports in 2007.
Imports
Mexico was the United States' 3rd largest supplier of goods imports in 2008.
U.S. goods imports from Mexico totaled $215.9 billion in 2008, up 2.5% ($5.2 billion) from 2007, and up 336% over the last 14 years. It is up 441% since 1993 (Pre-NAFTA). U.S. imports from Mexico accounted for 10.3% of overall U.S. imports in 2007, up from 7% in 1994.
The five largest import categories in 2008 were: Electrical Machinery ($53.5 billion), Mineral Fuel and Oil (crude) ($41.9 billion), Vehicles (cars and parts) ($32.2 billion), Machinery ($24.8 billion), and Optic and Medical Instruments ($7.5 billion).
U.S. imports of agricultural products from Mexico totaled $10.9 billion in 2008, the 2nd largest U.S. supplier. Leading categories include: fresh vegetables ($2.9 billion), fresh fruit (excluding bananas) ($1.7 billion), wine and beer ($1.6 billion), and snack foods (including chocolate) ($898 million).
U.S. imports of private commercial services* (i.e., excluding military and government) from Mexico were $15.6 billion in 2007 (latest data available), up 6.1% ($898 million) from 2006, and up 98% ($7.7 billion) from 1994 levels. Travel accounted for most of U.S. services imports from Mexico in 2008.
Trade Balance
The U.S. goods trade deficit with Mexico was $64.7 billion in 2008, a 13.3% decrease ($9.9 billion) over 2007. The U.S. goods trade deficit with Mexico accounted for 7.9% of the overall U.S. goods trade deficit in 2008.
The United States has a services trade surplus of $8.2 billion with Mexico in 2007 (latest data available).
Investment
U.S. foreign direct investment (FDI) in Mexico (stock) was $91.7 billion in 2007 (latest data available), a 10.1% increase from 2006.
U.S. FDI in Mexico is primarily concentrated in the manufacturing, nonbank holding companies, and finance/insurance sectors.
Mexican FDI in the United States (stock) was $6.0 billion in 2007 (latest data available), up 11.7% from 2006.
Mexican direct investment in the U.S. is primarily concentrated in the manufacturing, wholesale trade, and banking sectors.
Sales of services in Mexico by majority U.S.-owned affiliates were $20.5 billion in 2006, (latest data available), while sales of services in the United States by majority Mexico-owned firms were $3.4 billion
NOTE: Refers to private services trade not including U.S. military sales, direct defense expenditures and other miscellaneous U.S. government services.