Is Mexico rerouting from China?

, December 28, 2023

Bank of America Global Research

Carlos Capistran and Antonio Gabriel

Key Takeaways

-It’s unlikely. The increase in Mexican exports to the US has been more significant than the increase in Mexican imports from China.

_ Mexico could be importing more from China because (1) it is an economic boom and (2) the US is also in an economic boom.

-We continue to associate Mexico’s gain in the share of US imports primarily with nearshoring and not rerouting.

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Further Reading:

Mexico: Five years of the 4T Government, What does data say?

What would happen to Mexico’s energy sector in a potential Seimbaum administration?

Mexico’s Next President: Challenges and Recommendations. Wilson Center

Social and Political Implications of Hurricane Otis

MXN: Not your padre’s peso

Mexico contends with the Superpeso while Russia’s Rubble weakens: Geopolitical Futures

The Funeral of Mexico’s Political System.