Trading partners
Mexico ranks position twelve among the largest export economies worldwide. 2014 trade statistics shows that Mexico exported about U.S. $400 billion and made imports worth U.S. $379 billion. The country recorded a Gross Domestic Product (GDP) values at U.S. $1.29 trillion and a GDP per capital of about $17,000. Moreover, the Mexican economy records an Economic Complexity Index of 1.23. The ability of the country to make many exports to different trading partners increases its global exports shares due to its larger size in the global market. The ability of Mexico to make large number of exports shows it has many trading partners. Moreover, Mexico signed the free North American Free Trade Agreement (NAFTA) that made its trade more diversified. Mexico signed 12 trade agreements with 44 countries in an effort to diversify and increase trade in 2011 (Villarreal 3). The outcome of these trade agreements has seen the country make more revenues on exports especially from countries in the Western Hemisphere.
Industries
Mexico has very many industries producing a wide variety of products leading to the expansion of the Mexico’s export market. In 2014, Mexico made exports worth $393 billion and imports worth $395.7 billion to trading partners through its industries (International Trade Center). The data reveals that more than half of good manufactured in Mexico’s industries are exported and the country also imports almost the same amount of products from other countries. The high rate of industrial competitiveness in the world forces Mexico relies of different products from its industries; hence, sustaining her economy and improving the GDP per capita.
The analysis shows Mexico enjoys a diversified trade internationally due to the presence of many trading partners across the world and her ability to make huge revenues on exports to these countries. Moreover, diversified trade allows the country to overcome numerous challenges because of overdependence on more than one production line.
Works Cited
International Trade Center. “Consistency of Trade Statistics : Exports and imports of Mexico –
00 All industries (2014, in USD thousands).” Trade Competitiveness Map. 2014. http://legacy.intracen.org/appli1/tradecom/RS_TP_CI_HS4.aspx?IN=00&RP=076&YR=2013&IL=00%20%20All%20industries&TY=T. Web. July 21, 2016.
Villarreal, Angeles. “Mexico’s free trade agreements.” Congressional Research Service. 2012,
June 03.
