2008 National Trade Estimate Report for Mexico

09 Apr '08

2 min read

United States Trade Representative (USTR) releases 2008 National Trade Estimate Report for Mexico. The U.S. goods trade deficit with Mexico was $74.3 billion in 2007, an increase of $10.0 billion from $64.3 billion in 2006. U.S. goods exports in 2007 were $136.5 billion, up 1.9 percent from the previous year. Corresponding U.S. imports from Mexico were $210.8 billion, up 6.3 percent. Mexico is currently the 2nd largest export market for U.S. goods.

U.S. exports of private commercial services (i.e., excluding military and government) to Mexico were $22.4 billion in 2006 (latest data available), and U.S. imports were $14.8 billion. Sales of services in Mexico by majority U.S.-owned affiliates were $11.4 billion in 2005 (latest data available), while sales of services in the United States by majority Mexico-owned firms were $1.7 billion.

The stock of U.S. foreign direct investment (FDI) in Mexico was $84.7 billion in 2006 (latest data available), up from $75.1 billion in 2005. U.S. FDI in Mexico is concentrated largely in the manufacturing, finance, and nonbank holding companies sectors.

The North American Free Trade Agreement (NAFTA), signed by the United States, Canada, and Mexico, entered into force on January 1, 1994. This free trade Agreement progressively eliminates tariffs and nontariff barriers to trade in goods, improves access for services trade, establishes rules on investment, strengthens protection of intellectual property rights, and creates an effective dispute settlement mechanism.

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