ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mexico is not collecting its payable accounts from the US
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Mexicans travel and spend a lot of the dollars made back in the US “illegally”
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Most of the US purchases relate to illegal or off the books purchases
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Mexico buys too many things from all other countries and their trade deficit eats away the surplus with the US
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Detailed explanation-1: -In 2021, U.S. exports to Mexico were $276.5 billion, a 30.7% ($65.0 billion) increase from 2020; U.S. imports from Mexico were $384.7 billion, an 18.3% ($59.5 billion) increase; and the trade deficit with Mexico was $108.2 billion, a 4.8% ($5.5 billion) decrease. In 2021, Mexico is the No.
Detailed explanation-2: -Trade between Mexico and the United States totaled $779.3 billion in 2022, making Mexico the United States’ 2nd largest trade partner. Furthermore, in 2022, Mexico was the U.S.’ largest provider of goods and the 2nd largest export market.
Detailed explanation-3: -U.S.-Mexico Trade Facts The U.S. goods and services trade deficit with Mexico was $98.5 billion in 2019. Mexico is currently our largest goods trading partner with $614.5 billion in total (two way) goods trade during 2019. Goods exports totaled $256.6 billion; goods imports totaled $358.0 billion.
Detailed explanation-4: -Mexico’s trade surplus widened to USD 0.984 billion in December of 2022 from USD 0.603 billion in the same month of the previous year, compared with analysts’ expectations of a USD 1.157 billion surplus.