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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%.
[RISK DISCLAIMER] All opinions, news, analysis, prices or other information contained on this report is provided by analyst of Zhejiang Huarui Information Consulting Co., Ltd (CCFGroup) as general market commentary and does not constitute investment advice. CCFGroup will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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