Mexico Retains Top U.S. Trade Partner Status in March Amid Dynamic Trade Flows

In March, Mexico maintained its position as the United States’ leading trading partner, marking the third consecutive month and the 13th time in the past 14 months. According to the latest data from the Census Bureau, two-way trade between the two nations amounted to $68.5 billion. This figure, however, represents a 5% decline in trade compared to the same period in 2023. Despite this slight year-over-year drop, trade with Mexico in the first quarter of 2024 increased by 1.7%, totaling $200.1 billion.

Canada and China followed Mexico as the second and third largest trading partners of the U.S., recording trade volumes of $65.1 billion and $42.7 billion, respectively, in March. Among the leading imports from Mexico were passenger vehicles, auto parts, and computers, with these categories dominating the trade flow into the U.S. On the other side, the top American exports to Mexico included gasoline, auto parts, and computer parts.

Port Laredo in Texas stood out as the premier U.S. trade gateway, marking its 12th consecutive month as the top-ranked among the nation’s 450 airports, seaports, and border crossings, with $27.8 billion in two-way trade in March alone. Notably, Laredo handled 255,874 commercial truck crossings between Mexico and the U.S., despite a slight decline of 2.4% from the previous year.

The significant trade activity at border crossings such as Laredo, and others like the Ysleta-Zaragoza International Bridge in El Paso and the Port of Otay Mesa in California, underscores the integral role these ports play in U.S.-Mexico trade relations. Additionally, regions like Laredo, El Paso, and Tucson have seen remarkable growth in freight markets, a testament to their increasing importance in transnational commerce.

This ongoing dynamic of trade reflects the deep economic ties and interdependencies between the United States and Mexico, highlighting the vital role of border infrastructure and logistics in facilitating international trade.