How Mexican market heating up! New opportunities here!

08-16 16:24 | 1342 visits

Mexico is a young nation with a population of over 130 million and an average age of only 27 years. Contrary to what many people might think, Mexico is located right next to the United States and is an authentic North American country. In the first half of this year, Mexico replaced China as the United States' top import partner for the first time! Many businesses are struggling to find a trade route to the United States, and entering the Mexican market at this time is indeed the best choice!

Opportunities are knocking, expand your market!

From 2019 to 2022, trade between Mexico and China grew at an average annual rate of 15.2%. China has become Mexico's top global trading partner. In 2022, the total trade volume between China and Mexico reached $94.965 billion, a year-on-year increase of 9.8%. Chinese exports amounted to $77.535 billion, marking a 15.1% increase compared to the previous year.

Since the start of the U.S.-China trade war, China's exports to Mexico have surged!

In the first half of 2023, exports to Mexico amounted to $39.22 billion, showing a 6.6% year-on-year increase, despite a 3.2% decrease in overall national exports during the same period. This is an excellent time to enter the Mexican market!

Seize the advantage, focus on key points!

01 Strong Geographic Location

Mexico is located in North America and is one of the countries with the most free trade agreements globally. It serves as a crucial transit hub for supplying the U.S. market.

02 Mexican Peso Appreciation

According to El Universal, on July 3rd, the Mexican peso experienced a historic appreciation of over 12% against the U.S. dollar in the first half of this year, leading to the phenomenon known as the "super peso." This greatly benefits Mexican imports.

03 Free Trade Agreements

Mexico has signed free trade agreements with the United States and Canada, facilitating trade among the three nations. Chinese exports to Mexico can also benefit from lower tariffs, reducing export costs.

04 Mexico as an Emerging Manufacturing Center in the North American Free Trade Area

This provides Chinese foreign trade companies with broader sales channels and easier access to the North American market, thereby expanding the market share of Chinese products in North America.

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