By the NumbersFacts & Figures of North America
Why Trade Matters
NAFTA has dramatically enhanced the region’s ability to make better use of the abundant resources of the three member countries and thus make an important contribution to economic growth within North America. Over the last decade, however, our economies have faced growing challenges in increasingly competitive and globalize world markets. We need to do more to ensure that our policies provide our firms and workers on a fair and unfettered basis to meet the challenges of global competition.
At $292.4 billion for Canada and $216.3 billion for Mexico, they were the top two purchasers of U.S. exports in 2012. U.S. goods exports to NAFTA in 2012 were $508.7 billion, up 235% from 1993. U.S. exports to NAFTA accounted for 23.1% of overall U.S. exports in 2012.
At $324.20 billion for Canada and $277.70 billion for Mexico, they were the second and third largest suppliers of goods imports to the United States in 2012. US goods imports from NAFTA totaled $601.9 billion in 2012, up 280% from 1993. US imports from NAFTA accounted for 21.9% of overall U.S. imports in 2010.
The US foreign direct investment (FDI) in NAFTA Countries (stock) was $410.4 billion in 2011. The foreign direct investment, of Canada and Mexico in the United States (stock) was$237.2 billion in 2009.
- 6 million jobs in the United States depend on the trade with Mexico.
- 8 million in the United States depend on trade with Canada.
A full 40% of the U.S. imports from Mexico is actually produced int he United States. On average, the U.S. content in a Chinese product is 3-4%
As we watch the leaders of North America get together in Toluca this morning it is important to keep in mind the importance of Canada and Mexico to the United States. Let´s take a look: [wpdm_file id=12 title="true" desc="true"...
Mexico´s Financial Environment: An Investor Perspective [wpdm_file id=11 title="true" desc="true"...
NAFTA has dramatically enhanced the region’s ability to make better use of the abundant resources of the three member countries and thus make an important contribution to economic growth within North America. Since the implementation of NAFTA in 1994, trade between...