EXPORTS, IMPORTS, and TRADE BALANCE

KEY TRENDS

• U.S. trade with Mexico increased $27.7 billion (13 percent) to $247.9 billion in 2004. Continued robust U.S. economic growth and record high prices in the energy sector were the principal factors contributing to the trade deficit with Mexico.
  
  
• After 3 years of contraction, the Mexican economy rebounded in 2004. The bulk of U.S. exports consisted of intermediate goods, components, and industrial inputs destined for Mexico’s two temporary import programs.
  
  
• U.S. imports from Mexico primarily reflected continued robust economic growth in the U.S. economy as a result of increased capital spending, public sector infrastructure projects, and record demand for residential and building construction.
  
  
• In 2004, record high energy prices and a tight global energy market for crude petroleum and chemicals such as plastics accounted for much of the increase in energy product exports from Mexico.

TRADE SHIFTS in 2004 from 2003

• U.S. trade deficit: Increased $7.9 billion (15 percent) to $61.9 billion
• U.S. exports: Increased $9.9 billion (12 percent) to $93.0 billion
• U.S. imports: Increased $17.8 billion (13 percent) to $155.0 billion
  
  

LINKS

USITC PUBLICATIONS
332 Investigations

• Textiles and Apparel: Assessment of the Competitiveness of Certain Foreign Suppliers in the U.S. Market

Industry Trade and Technology Review

• Production-Sharing Update: Developments in 2003

International Economic Review

• Mexican Farmers Against U.S. Imports: An Update

OTHER GOVERNMENT RESOURCES
U.S. Department of Energy, Energy Information Administration

• Country Analysis Brief - Mexico

U.S. Department of State

• Background Note - Mexico

U.S. Department of Commerce, International Trade Administration

• Office of NAFTA and Inter-American Affairs

SECTOR SHIFTS

| Agricultural Products | Forest Products | Chemicals and Related Products |
| Energy and Related Products | Textiles, Apparel, and Footwear |
| Minerals and Metals | Machinery | Transportation Equipment |
| Electronic Products | Miscellaneous Manufactures |

COUNTRY SHIFTS