Trade
Mexico is an export oriented economy. It is an important trade power as measured by the value of merchandise traded, and the country with the greatest number of free trade agreements. Mexico is highly dependent on exports to the U.S., which account for almost a quarter of the country’s GDP. The weak point of the Mexican economy is its heavy dependence on the US exports: 80% of Mexican foreign trade is carried out with the US.
Mexico is one of the world’s most trade dependent countries. The share of foreign trade in countries GDP is nearly 60%. Mexico is a member of the NAFTA- free trade agreement unifying the United States, Mexico and Canada since 1994. The country signed a free trade agreement with the European Union in 2000 and the commercial agreement signed with Japan came into force on April 2005. USA buys 80% of its exports. The top three export partners are: the USA, Canada and Spain.
In the year 2000, the U.S. accounted for 73% of Mexico's imports and 89% of exports. Thus, the overview of the imports and exports between the U.S. and Mexico is a valid way to depict Mexico's top Import/Export categories.
