New data: Mexico and North Carolina are increasingly close partners
- More than 150,000 jobs in North Carolina depend on trade with Mexico.
- In 2022 Mexico and North Carolina traded 15.8 billion dollars.
- Mexico is the first partner for North Carolina, before Canada and China.
- 13% of all North Carolina exports go to Mexico.
The economic relationship between Mexico and the United States is one of the most intense between two countries. Since 1994, when the North American Free Trade Agreement (NAFTA or NAFTA) was signed, commercial exchanges have increased by more than 700%. More recently, in 2018 a new and more modern Mexico-United States-Canada Free Trade Agreement (T-MEC or USMCA) was agreed , which has further boosted ties throughout North America (including Canada), but above everything between Mexico and the United States.
The North Carolina economy benefits from this growth, to the point that more than 150,000 jobs in North Carolina depend on trade with Mexico . Year after year, the two parties are getting closer: In 2021, a trade volume of 12.8 billion dollars was registered between North Carolina and Mexico; a year later a record figure was achieved, since in 2022 Mexico and North Carolina traded 15.8 billion dollars. This means that Mexico is the first partner for North Carolina , before Canada and China.
Mexican consumers and businesses import enormous amounts from North Carolina , in goods such as machinery, chemicals, vehicle and auto parts, plastics, fibers, and electronics. 13% of all North Carolina exports go to Mexico. Mexican companies also offer high-quality products for use and consumption in North Carolina ; for example, computers, electronics, electrical and communication equipment, chemical products, auto parts and medical supplies.
Mexican multinational companies maintain and continually increase their presence in North Carolina . Among others, Grupo Cemex, Grupo Bimbo, Gruma Maseca (Mission Foods), IUSA, Alfa / Dak Américas, CONDUMEX, Sigma, Vitro (Pittsburgh Glass) and Orbia stand out. On the other hand, several North Carolina companies maintain activities with Mexico , for example, Bayer, Bank of America, ABB and Goodrich Corporation.
For Mexican companies , North Carolina is an interesting place to explore their expansion and internationalization, through the establishment of a presence in the United States. The State is one of the national leaders in the agricultural and textile industry and the main producer of tobacco in the country. In recent years, the state economy has diversified into industries such as pharmaceuticals , food, banking, technology and auto parts, as well as high-tech companies , dedicated to aerospace research , aeronautics, biotechnology , information technology , and clean technology innovation .
Felipe Garcia Landa
Consul of Mexico for Political and Economic Affairs, and Cooperation
Consulate General of Mexico in Raleigh
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