What does Mexico import from Canada?
What does Mexico import from Canada?
Mexico has a tight commercial relationship with Canada, however, despite being the second most important market to Mexico’s exports, it is the sixth source of merchandises’ imports at an international level.
During the first four months of 2014, Mexico accumulated imports form Canada for 3,077.58 million dollars, which meant a decrease of 7% compared to the same period of 2013. During the whole of 2013, they acquired several products coming from Canada, for a total cost of 9.847 billions of dollars.
Mexican imports from Canada represent the 2.45% of the total purchases that Mexico gets from other countries, and they are Mexico’s sixth international source, behind the United States, China, Japan, Germany, and South Korea, according to the National Institute of Statistics and Geography (INEGI for its acronym in Spanish).
Official records of the Bank of Mexico, say that Mexico buys 49 different products from Canada, most of them are agricultural products, but some others are manufactured. Here we have the Top 5 Products.
1. Rapeseeds. During 2013 imports to Mexico from Canada had as their leading products seeds and oleaginous fruits, mainly tulip and colza seeds, low in erucic acid. They acquired these products for a total cost of 799.7 millions of pesos, which meant the 8.1% of the total imports that came from Canada in that period.
Among other uses, the extract of these seeds is used for salads, and to produce margarine, among other things. These seeds are also used to make industrial products, such as lubricant additives. Moreover, refined oil, also known as Colza oil, is also edible.
Until for years ago, this product was in the third or fourth spot, but in 2013 and the first months of 2014 it has been at the top of the line.
2. The second most imported product is touristic automobiles, in particular those whose cylinder capacity exceeds the 1,500 cm3 but doesn’t surpass the 3,000 cm3. Mexico is not characterized as an importer of vehicles, because it is one of the leading countries in the production and exports of these. However, in the last few years this product has been among the most imported from Canada.
During 2013 a total of 285.7 millions of pesos were bought in Cars, and in the first two months of 2014 only 20.6 millions of dollars have been imported worth of the product.
3. The third spot is for aluminum and products made of aluminum, especially aluminum alloys used as raw materials in the manufacturing areas of the automotive and aerospace industries, among others.
Aluminum and its alloys have played an important role in the transportation industries for more than 30 years now, because this special material has the following characteristics: high strength, low weight, thermal conductivity, among others, that are indispensable for the creation of aircrafts, being this, one of the material’s most important applications nowadays.
Official records say that Mexico brought from Canada 281.7 million dollars worth of this products during 2013, and 40.9 millions dollars during January and February of this year.
4. The fourth position is again for motored vehicles, only that this time we are talking about those of a bigger size, specifically those family vehicles such as the breaks or station wagons, or racing cars, with a cylindrical capacity bigger than 3000 cm3.
During 2013 these imports were worth 279.5 millions of dollars, while in the first two months of 2014 they were worth 27.4 USD millions.
5. The fifth place is for cereals, especially common wheat (durum wheat). This is a raw material ideal for the production of dry pasta.
During last year a total of 233 millions dollars were reported to be imported of this product and in the first part of 2014 a total 27.7 millions dollars were bought.