Exports from Mexico to Canada: Top 5 most important products
Mexico was historically an exporter of raw materials, mainly petroleum. However, its production has transformed and its sales abroad have been diversified. Nowadays, 83% of its foreign sales are manufactured, only 12% are petroleum and a smaller percentage comes from the agricultural and mineral fields.
That’s why among the main products that Mexico exports to Canada, many manufactured products stand out, however some raw products are important too. Mexican authorities say that there is an important discrepancy between the official figures of Mexico and those of Canada in matters of bilateral commerce due to the transshipment of goods through the U.S.
That’s why, according to the Bank of Mexico, during 2013 Mexico exported products with a total value of 10.4508 Billions of dollars to Canada, and in the period of January-February of the current year they exported a total of 1.5888 Billions of dollars in the market in question through 50 different products.
The five main products represented the 35.5% of last year’s total exports from Mexico to Canada.
Television receivers, with even broadcast, recording or reproduction of sound or image receivers, mainly flat screen TVs, were the main product exported from Mexico to Canada during 2013 and the first months of 2014.
According to the Bank of Mexico, in 2013 broadcast receivers were exported for a total worth of 833.12 millions of dollars; which have stayed as the main exportation product since 2008, although this year its leadership has been threatened by automobiles.
Since 2010, Mexico took the first spot in flat screen expoworldwide; they were on top of countries like China, Germany and the United States. This exports represented a fourth of foreign products sales in the electronic field of the country.
The second spot is for crude oils from petroleum and from bituminous minerals, with a value of 813.57 millions of dollars in 2013.
Mexico is a country with a broad oil history, however crude oil and its by-products are sold without any type of refinement.
The automotive Mexican industry has grown considerably in the last 20 years. In the last 5 years there has also been an important increase in the field’s investment.
Nowadays automotive exports are the pillar of production of manufactured goods in the country, that’s why it isn’t surprising that they are the third most important product exported to Canada.
Mexico’s official information says that 805.36 millions of dollars were sold in automobile vehicles for transports of merchandise during 2013, and in the period of 2014 this product was the second most important.
The fourth most exported products are tourism vehicles. A report by the Bank of Mexico says that 801.79 millions of dollars were exported worth of this product.
But the most surprising fact is that during the first two months of 2014, this product took the first spot, beating all of the products already stated.
Exportation of vehicles designed to transport people has become a pillar of manufactured goods in Mexico, and due to investments and new plants of companies already set in the country, plus the ones that are coming for the for the first time, are definitely going to push even further foreign sales of touristic automobiles to Canada and the United States, mainly.
One of the biggest business interests of Canada in Mexico is in investments of mining. And precisely in mines of the product that occupies the fifth spot on this ranking, gold (plating gold included), rough, plated or dusted.
The Bank of Mexico reported an exportation worth 458.7 millions of dollars during 2013, mainly in raw gold taken from those same mines administered by Canadian firms.