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

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

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

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.

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, vegetables, beverages and fruits were the main export groups, since they accounted for more than 63 percent of the total," the report stated.

The agricultural and fishing products with the highest demand abroad were honey flowers, citrus, tobacco, peanuts and fresh or chilled fish.

In agribusiness, increases in sales of meat and poultry, soybean oil, soups, waters and soft drinks, tequila and mezcal and frozen orange juice.

In terms of value, the products with the greatest foreign demand were beer, avocado, tequila and mezcal, tomatoes and pepper.

Subscribe to our newsletter