Mexico’s Booming Exports Provide More Evidence of Nearshoring

Mexico’s exports were the second largest on record in May, providing additional evidence that the country is benefiting from a reorganization of global supply chains that’s attracting companies closer to the US consumer market.

Total Mexican exports rose 5.8% from a year ago, reaching $52.9 billion, while imports grew 1.4% to $52.9 billion, the country’s statistics institute reported on Tuesday. The value of non-oil shipments to the US increased 11.4% in annual terms, while sales to the rest of the world fell 3.5%.

The country posted a trade deficit of $74 million in May, significantly less than April’s $1.5 ...