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Mexico settles in as Canada's third-largest trading partner

Published by Steve Coleman on January 31, 2012

When it comes to international trade, Mexico is still a strong - and growing - number three for Canada.
New numbers compiled by the NAFTA office of Mexico in Canada say this country's trading deficit with Mexico grew by more than one-fifth year-over-year to November 2011.

Mexico's trade surplus with Canada rose from US$11.8 billion in November 2010 to US $14.4 billion 12 months later.

In terms of value, exports from Canada to Mexico reached US$8.73billion, an amount 758 per cent higher than sales figures recorded for 1993. Put another way, the average annual growth rate of exports from Canada into Mexico between 1993 and 2011 has been 12.7 per cent.

While Mexico's share of the Canadian import market was 5.5 per cent of the overall total at US$23.1 billion, the total amount is eight times greater than it was in November 1993 before NAFTA came into effect two months later.

In the last year, the Mexican export market has shipped petroleum oils other than crude, automobile transmissions and engines, electrical panels, data reception and distribution devices, trucks with five-20 ton load capacities, gold, televisions, aircraft and automobile engine electrical cables and computers.

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