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Industry News | Time: Nov 13 2019 1:25PM
Mexico becomes the largest trading partner of US
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According to statistics released by the US Department of Commerce, the amount of bilateral trade between the United States and Mexico amounted to US $414 billion 200 million in 2019 1-8, accounting for 15% of the total foreign trade of the United States. It has surpassed the mainland China (371 billion 900 million US dollars, accounting for 13.4%, ranking third) and Canada (409 billion US dollars, 14.8%), ranking the largest trading partner in the United States. The US market share (US imports) declined from 1-8 US $345 billion in 2018 to 301 billion 700 million US $1-8 in 2019, with a reduction of US $43 billion 300 million, while Mexico increased from 228 billion 300 million US dollars in 2018 to US $240 billion 700 million in 2019, with an increase of US $12 billion 400 million.

In the textile and clothing sector, the Chinese mainland still ranks first, accounting for 35.33% of the total, but the growth rate is narrowed by only 2.49%. The second largest proportion is Vietnam, accounting for 12.27% of the total, which has been increased by 10.38% under the encouragement of the US China trade war, followed by India, Bangladesh and Indonesia. Mexico ranks sixth, with a share of 3.99%, a decrease of 2.47%.
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