The
increase in the value of crude petroleum imports mirrored the
$3.1 billion growth in total U.S. imports from Mexico in 2003,
with higher prices for crude accounting for most of the rise
in the value of imports.
Motor vehicles and parts accounted for over one-half of the
decrease in total U.S. exports to Mexico in 2003.
The 3-percent downturn in U.S. exports to Mexico in 2003 nearly
mirrored the 2-percent decline in manufacturers’ shipments
in Mexico, as most exports are intermediate goods destined for
the assembly industry in Mexico.
Exports of computers and peripheral equipment to Mexico, which
were mostly parts of such equipment for assembly in the maquiladora
industry, and imports of assembled products in this category
both decreased in 2003 (by 26 percent and 14 percent respectively)
as Mexico’s share of the U.S. market declined because
of competition with imports from China.
TRADE
SHIFTS in 2003 from 2002
U.S.
trade deficit: Increased by $6.0 billion (13
percent) to $54.1 billion
U.S.
exports: Decreased by $3.0 billion (3 percent)
to $83.1 billion
U.S.
imports: Increased by $3.1 billion (2 percent)
to $137.2 billion
