U.S. food and agricultural exports to Mexico surged 65 percent during the last four years, making it the fastest-growing export market for many American agricultural products and commodities. Mexico’s growth as a destination for U.S. exports has been spurred by its booming post-COVID-19 economy and a rapidly growing manufacturing sector. According to new research from CoBank’s Knowledge Exchange, Mexico will likely surpass Canada to claim the number one spot for the first time in 2025 despite some emerging headwinds. “A few risk factors are developing that could slow additional growth,” says Rob Fox, director of the Knowledge Exchange. “Mexico’s economy has been slowing, and the unusually strong peso has weakened by 15 percent since early 2024.” As a result, Mexican consumers’ purchasing power will be more of a challenge in 2025. Since 2020, Mexico’s share of all U.S. ag exports went from 11.2 percent to 16.4 percent.
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