Trade
Mexico’s Booming Exports Provide More Evidence of Nearshoring
- May shipments reached $52.9 billion on high US demand
- Latest exports data marks second-best on record in Mexico
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Mexico’s exports were the second largest on record in May, providing additional evidence that the country is benefiting from a reorganization of global supply chains that’s attracting companies closer to the US consumer market.
Total Mexican exports rose 5.8% from a year ago, reaching $52.9 billion, while imports grew 1.4% to $52.9 billion, the country’s statistics institute reported on Tuesday. The value of non-oil shipments to the US increased 11.4% in annual terms, while sales to the rest of the world fell 3.5%.