Mexico: Agri-food trade balance hit third-highest level in H1

Mexico's agricultural sector has performed robustly in the first half of 2021, with the agri-food trade balance showing a surplus of almost US$4.9 million, marking the third-highest surplus in 27 years. This achievement is based on exports valued at $22.6 billion and imports valued at $17.7 billion. The highest value of agri-food sales abroad in 29 years has also been recorded, surpassing the foreign exchange earned from oil products and tourism by significant margins. Despite the economic downturn caused by the Covid-19 pandemic, agriculture emerged as the most resilient sector. The government anticipates a positive GDP rebound of nearly six percent, largely driven by agriculture, fishing, and the Agreement between Mexico, the United States, and Canada (T-MEC). The primary export categories were vegetables, beverages, and fruits, which constituted over 63 percent of the total. Notable increases in demand were observed in honey flowers, citrus, tobacco, peanuts, fresh or chilled fish, as well as meat and poultry products, alongside beverages like soybean oil, soups, waters, soft drinks, tequila, and mezcal.