US Product Surpluses and Deficits with Mexico

Mexico Palace of Fine Arts

Mexico Palace of Fine Arts

The United States incurred a -US$65.9 billion trade deficit exporting to and importing from Mexico during 2016. That statistic represents a 33.7% expansion from America’s -$49.3 billion deficit in 2009, the first year in which full effects from the Global Recession surfaced.

Year over year, America’s trade deficit with Mexico in 2016 grew by 7.9% from -$61.1 billion for 2015.

The following data is at the 4-digit Harmonized Tariff System (HTS) code level.

Top US Product Surpluses Trading with Mexico

America ran trade surpluses in over 800 product categories. These product surpluses amounted to a subtotal $115.7 billion in positive trade balances.

  1. Processed petroleum oils: US$15.2 billion (up 353.5% since 2009)
  2. Computer parts, accessories: $10.5 billion (up 201.2%)
  3. Integrated circuits/microassemblies: $6 billion (up 68.1%)
  4. Petroleum gases: $3.3 billion (up 346.8%)
  5. Corn: $2.6 billion (up 87.9%)
  6. Ethylene polymers: $1.9 billion (up 37.4%)
  7. Copper ores, concentrates: $1.7 billion (up 938.1%)
  8. Electric circuit parts, fuses, switches: $1.7 billion (up 110.5%)
  9. Soya beans: $1.5 billion (up 8.7%)
  10. Cyclic hydrocarbons: $1.4 billion (down -2.2%)

America’s fastest-growing product surpluses at Mexico’s expense were for: copper (up 938.1%), processed petroleum oils (up 353.5%), petroleum gases (up 346.8%) followed by computer parts and accessories (up 201.2%).

Top US Product Deficits Trading with Mexico

Of the 1,209 product categories exchanged between the two North American trade partners, the US experienced a negative trade balance with 404 of these categories. However, the deficit-generating product categories added up to a massive -$181.1 billion deficit.

  1. Trucks: -US$21.2 billion (up 252.5% since 2009)
  2. Cars: -$20.5 billion (up 152%)
  3. Computers, optical readers: -$13.2 billion (up 186.8%)
  4. Phone system devices including smartphones: -$8 billion (down -2.2%)
  5. TV receivers/monitors/projectors: -$8 billion (down -43.1%)
  6. Crude oil: -$7.8 billion (down -65.4%)
  7. Automobile parts/accessories: -$7 billion (up 1,017%)
  8. Insulated wire/cable: -$6.3 billion (up 186%)
  9. Seats (excluding barber/dentist chairs): -$5.9 billion (up 220.8%)
  10. Tractors: -$4.7 billion (up 132.1%)

America’s fastest-growing product deficits in its trade with Mexico were for: automobile parts and accessories (up 1,017%), trucks (up 252.5%), seats other than barber or dentist chairs (up 220.8%), computers including optical readers (up 186.8%) and insulated wire or cable (up 186%).

See also United States Top 10 Major Export Companies and United States Top 10 Exports

Research Sources:
Trade Map, International Trade Centre. Accessed on March 6, 2017

The World Factbook, Field Listing: World, Central Intelligence Agency. Accessed on March 6, 2017

Wikipedia, Economy of the United States. Accessed on March 6, 2017