The agricultural trade balance continues to give positive numbers to the country, with a surplus that grew 6.7% annually to 7,082 million dollars during the first eight months of 2024.
Data from the Bank of Mexico systematized by the Group of Agricultural Market Consultants (GCMA) show that in the accumulated amount to August 2024, the value of agri-food exports reached a new maximum of 37,026 million dollars, 5.3% more at an interannual rate; meanwhile, the value of imports reached 29,944 million dollars, 5.0% more.
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The agricultural trade balance continues to provide positive numbers for the country, with a surplus that grew 6.7% annually to 7,082 million dollars during the first eight months of 2024.
Data from the Bank of Mexico systematized by the Group of Agricultural Market Consultants (GCMA) show that in the accumulated amount to August 2024, the value of agri-food exports reached a new maximum of 37,026 million dollars, 5.3% more at an interannual rate; meanwhile, the value of imports reached 29,944 million dollars, 5.0% more.
In August 2024 alone, the value of agri-food exports was 4,063 million dollars, 1.7% higher than that reported in the same period in 2023. The value of imports reached 3,857 million dollars, 3.5% more compared to the same month in 2023. Reflecting a surplus of 206 million dollars in the trade balance.
For the sector, it is very important to maintain this dynamism, which is why it is essential that in this new administration exports to other countries are encouraged, without neglecting our trading partners, Juan Carlos Anaya, general director of GCMA, told El Economista.
He added that agricultural authorities must strengthen the National Service for Agri-Food Health, Safety and Quality (Senasica), and very importantly, “achieve a successful review of the T-MEC in 2026.”
Anaya highlighted that agri-food exports represent 9% of Mexico’s total exports; making the sector the third largest generator of foreign currency; “exports continue to break records and exports of 55,000 million dollars are expected by the end of the year,” he said.
He also commented that beer is ranked as the first product sold abroad with 4,779 million dollars, a figure 17.5% higher than the same period in 2023.
Second place is occupied by tequila with 2,864 million dollars, despite reporting a decrease of 8.8%; while bovine (cattle + meat) is in third place with 2,447 million dollars, reflecting a growth of 16.5 percent.
Avocado is in fourth place, reflecting an increase of 16.0% corresponding to 2,380 million dollars; In fifth place are berries with 2,249 million dollars, showing a decrease of 2.7%; and in sixth place are tomatoes with 2,213 million dollars, showing an upward variation of 7.7 percent.
In addition, the subsectors that place Mexico as a food exporting power are the fruit and vegetable sector, “this sector represents 47% of exports,” added Anaya.
The director of the GCMA commented that food production is guaranteed in fruits, vegetables, sugar, coffee, beef, which we are self-sufficient in. “In those products that we are not, it is complemented with imports.”
He stressed that Mexico does not have sovereignty problems, “it has food security problems, producing less than 75% of what is required, such as: corn 50%, wheat 35%, rice 20%, pork 52%, among others. There is no country in the world that is 100 percent self-sufficient in food.”
Agro registra récord de exportaciones al mes de agosto (eleconomista.com.mx)