Exports, Imports and Trade Balance
- The U.S. trade deficit with Mexico continued to increase in 2006, rising by $14.9 billion (22 percent) to $82.5 billion as imports outpaced exports. In 2006, U.S. imports for all merchandise sectors from Mexico increased by 17 percent to $197.1 billion, due to increasing use of assembly in Mexico, greater imports of petroleum products, and higher petroleum prices.
- In 2006, U.S. exports to Mexico rose $12.9 billion (13 percent) to $114.6 billion, driven in part by economic growth in Mexico. The economy grew by 4.5 percent for the first time since 2000, bolstered by increasing consumer confidence, continued high oil prices, and a resurgence of the Maquiladora Program, or export-for-assembly industry. The largest increases in U.S. exports to Mexico were for miscellaneous manufacturers, minerals and metals, transportation, and chemical products. Mexico was the third largest export destination for U.S. products, exceeded only by the EU and Canada.
- U.S. imports from Mexico increased by $27.8 billion (17 percent) to $197.1 billion in 2006. Leading U.S. imports from Mexico in 2006 were energy-related products, machinery, transportation equipment, chemicals and related products, and minerals and metals. Mexico was the third largest source of U.S. imports in 2006, exceeded only by Canada and China.
Trade Shifts in 2006 from 2005
- U.S. trade deficit: Increased by $14.9 billion (22 percent) to $82.5 billion
- U.S. exports: Increased by $12.9 billion (13 percent) to $114.6 billion
- U.S. imports: Increased by $27.8 billion (17 percent) to $197.1 billion
- Ministry of the Economy - International Trade Negotiations
- U.S. Central Intelligence Agency: World Factbook
- U.S. Department of Energy, Energy Information Administration: Country Analysis Brief - Mexico
- U.S. Department of State: Background Note - Mexico
- U.S. - Mexico Chamber of Commerce