Canada repeats as the largest trading partner of the United States in June

August 5, 2021 | 1:28 pm

In June, Canada returned as the United States’ top trading partner, although Mexico retained the number one seat in the backlog, according to U.S. Department of Commerce data.

The total value of trade between the United States and Canada in the sixth month of the year was $58,500 million, with 15.1% participation in the trade balance; It is followed by Mexico, with a total of $57,200 million, with 14.6%.

China came in third place, with an exchange value of 52 billion dollars and a 13.3 percent share.

In the January-June period, Mexico established itself as the leader in trade with the United States, with a total of $320,000 million, 14.7% relative to the other partners.

The semi-annual comparison ranked Canada second, with a total of $317.1 billion and a share of 14.6%; While China came in third place with 300.700 million, or 13.8%.

Exports in the first six months of the year amounted to $207.67 billion, an increase of 11.20% compared to the second half of 2020.

At home, exports of goods increased by 14.08% compared to the second half of the previous year, while exports of services showed a progress of 4.95%.

deficit increases

The US trade deficit grew more than expected in the sixth month of the year, with a 6.7% advance thanks to a larger increase in imports over exports, driven by an economic recovery.

The deficit rose from $71 billion in May to $75.7 billion in June, according to the US Census and Economic Analysis bureaus.

The increase in imports was 2.1% to $283.4 billion, and 0.6% in exports to $207.7 billion. Analysts had expected a smaller deficit of $72.2 billion.

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The cumulative January-June trade deficit for the United States was $428,570 million, an increase of 26.37 over the same period a year earlier.

Compared to the last semester of 2020, the trade deficit increased by 11.64% according to seasonally adjusted figures.

This is a sign that the strength of domestic demand in the US continued into 2021, supported by monetary and fiscal stimulus.

Referred to as the base of Grupo Financiero.

With information from Agence France-Presse