Mexico: Agri-food trade balance hit third-highest level in H1
Mexico
Published Aug 21, 2021
Tridge summary
Mexico's agri-food trade balance reported a surplus of almost US$4.9 million in the first half of 2021, a figure that is the third-highest in 27 years.
Original content
The figure comes from $22.6 billion of agricultural and agroindustrial exports from January to June and $17.7 billion of imports, according to the Ministry of Agriculture and Rural Development of Mexico (Sader). "The value of agri-food sales abroad in June was the highest reported in 29 years, which allowed the country to reach a foreign exchange that exceeds sales from oil products by $9.9 billion and tourism by $14.8 billion." Agriculture was the most resilient sector in Mexico in 2020, when the Covid-19 crisis caused a historic decrease of 8.2% of GDP, Sader said. In 2021, the Government expects a rebound of close to six percent of the GDP consolidated in foreign trade and the Agreement between Mexico, the United States and Canada (T-MEC). Sader said that only agriculture and fishing recorded a positive balance of over $1.9 billion within the first six months of 2021. The agribusiness balance reached a surplus of over $2.9 billion from January to June. "In that period, ...
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