In April, Mexico narrowed the gap with China in their shares of total product imports into the United States, at 14.2 and 15.3%, respectively, the Census Bureau reported on Tuesday.<\/p>\n\n\n\n
That gap, of 1.1 percentage points, was the smallest since the distorting effects produced by the Covid-19 pandemic in early 2020 on trade between these countries.<\/p>\n\n\n\n
With respect to 2022, China’s lead over Mexico had previously narrowed as follows: January (6.3 percentage points), February (4.8 points) and March (2.4 points).<\/p>\n\n\n\n
In absolute terms, Mexican exports to the United States totaled 38.874 billion dollars in April, a year-on-year increase of 20.9 percent. In turn, Chinese sales to the U.S. market totaled 41.772 billion dollars, up 11.7% year on year.<\/p>\n\n\n\n
Both nations are the leading suppliers of products to the United States and face different challenges: China has forced factories to close and restricted port operations under its zero-Covid policy, while Mexico has been hit above all in its automotive sector by the shortage of semiconductor chips.<\/p>\n\n\n\n
Canada ranked third as a supplier to the U.S. market, with sales of 38.075 billion dollars in April, growth of 38.4%, far more dynamic than that of Mexico and China.<\/p>\n\n\n\n
In fact, Canada took first place among the United States’ main trading partners in April, with a 15.5% coverage (considering imports and exports of goods), followed by Mexico (14.8%) and China (11.9 percent).<\/p>\n\n\n\n
In particular, Canada has benefited from high international commodity prices, as commodities account for a substantial share of its exports to the world and, in particular, to the United States.<\/p>\n\n\n\n
On a cumulative basis, in the first four months of this year, Canada stood as the United States’ top trading partner (with a 15% slice of total trade), Mexico in second place (14.6%) and China in third (13.3 percent).<\/p>\n\n\n\n
Considering only the share of product imports into the United States, China outpaced Mexico by a gap of between 2.8 and 6.3 percentage points in the 12 months of 2021 and between 5.3 and 7.1 points from January to December 2020.<\/p>\n\n\n\n
In February and March 2020, at the height of the pandemic, China’s share of U.S. external purchases plummeted, with a market share of 12.8 and 10.2%, respectively.<\/p>\n\n\n\n
Mexico’s collapse in that same indicator followed, with a share of 9.6 and 9.1% of total U.S. imports in April and May, respectively.<\/p>\n\n\n\n
April and May were also the worst months for Canada as a result of the pandemic, when its share of imports into its southern neighbor was only 9.1 and 9.7%, in that same order.<\/p>\n\n\n\n
Real private final domestic purchases (the sum of personal consumption, business fixed investment and residential investment) in the United States accelerated to an annual growth rate of 3.7% during the first quarter of 2022, following a 2.6% advance in the fourth quarter of 2021.<\/p>\n\n\n\n