The trade between Mexico and Canada has increased from $4 to over $12 billion dollars in nine years. Mexico has become Canada's main trading partner in Latin America and its fourth largest partner worldwide only after the United States, Japan and the United Kingdom. Bilateral trade with Canada has tripled, reaching more than $12 billion US dollars in 2001. Between 1993 and 2001, Mexican exports to Canada grew by 170%, reaching $7.8 billion US dollars in 2001.
Because of the high quality of its production, Mexico is Canada's first supplier after USA of items such as vehicles, electronic equipment and agricultural goods. In the meantime, Mexico has become one of the most important destinations for Canadian products. In fact, Mexico is ranked as Canada's fourth largest export market behind the United States, Japan and China. In 2001, Canadian exports to Mexico reached more than $4.2 billion US dollars, which is 260 percent more than those of 1993. As you can see, bilateral trade has been mutually beneficial.
Since NAFTA, Canada has become the 4th foreign investor in Mexico with $4 billion dollars, only behind the United States, the Netherlands and Spain. At the end of 2002, 1,259 companies with Canadian capital were registered in Mexico. The most important sectors for these investments are within the area of manufacturing, which represents nearly 59 percent of Canada's total investment in Mexico; financial services account for 25 percent and mining with 11%.