Mexican Media Brands
Mexico Tops Canada in Exports to U.S.
Mexico has surpassed Canada in the overall value of goods it ships to the U.S., according to the Dept. of Commerce.
#economics
Share
Mexico has surpassed Canada in the overall value of goods it ships to the U.S., according to the Dept. of Commerce.
The department says Mexico’s exports to the U.S. totaled $245 billion in January-October compared with $320 billion for Canada. Last year the two countries were tied.
The value of vehicles shipped to the U.S. in the first 10 months of 2016 totaled $90 billion for Mexico and $54 billion for Canada, the department reports. Mexico’s significantly lower labor costs—coupled with a steady workforce that delivers comparable quality—have attracted $26 billion in new auto plants to Mexico in the past six years, according to the Center for Automotive Research in Ann Arbor, Mich.
Bloomberg News cites data indicating that Canada’s labor costs have zoomed 64% since 2002, while Mexico’s average pay rate increased between 2004 and 2014 at an annual rate of just 0.5%.
RELATED CONTENT
-
On Global EV Sales, Lean and the Supply Chain & Dealing With Snow
The distribution of EVs and potential implications, why lean still matters even with supply chain issues, where there are the most industrial robots, a potential coming shortage that isn’t a microprocessor, mapping tech and obscured signs, and a look at the future
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.