U.S. Agricultural Trade with Mexico (02/17/2017)
IPatricia Batres-Marquez, Decision Innovation Solutions (DIS). DIS is an Iowa-based economic research firm which provides regular farm economic research and analysis to Iowa Farm Bureau staff and members.
In 2016, Mexico was the third largest value market for U.S. agricultural products, after China and Canada (see Figure 1). Trade between the United States and Mexico has increased since the North American Free Trade Agreement (NAFTA) was implement on January 1, 1994. The 2016 value of U.S. agricultural exports to Mexico was up 0.8% to $17.9 billion from 2015, but down 7.9% compared with the record value in 2014 ($19.5 billion). This was the lowest export value since 2010 ($14.6 billion) (see Figure 1). Nonetheless, the value of agricultural exports to Mexico in 2016 represented 13.2% of total U.S. agricultural exports last year.
To review the complete report, please click here.
Want more news on this topic? Farm Bureau members may subscribe for a free email news service, featuring the farm and rural topics that interest them most!