NAFTA at 30: A Mexican Perspective
by Luz María de la Mora
Director Mexico Program
WEConnect International
Mexico City, Mexico
June 10, 2015
Since its inception, NAFTA (North American Free Trade Agreement) has been a force for change and deep transformation of Mexico’s key economic structures and institutions. Without question, NAFTA has been and will continue to be one of Mexico’s most important engines of economic growth given the country’s great integration in world markets.
After more than 20 years in place, NAFTA has delivered economic results beyond the most optimistic expectations, creating a U.S. $19 trillion regional market with close to 500 million consumers. During these years, regional trade quadrupled to reach $1.1 trillion in 2012, while Mexico’s exports to North America increased sevenfold. U.S.-Mexico trade expanded almost six times, increasing from U.S. $88 bn in 1993 to U.S. $515 bn in 2014. NAFTA also created a market for Mexico in Canada that previously did not exist, making it Mexico's third-largest export destination and accounting for 2.7% of its exports in 2013. At the same time, Mexico became Canada’s fifth-largest export market and fourth-largest source of imports (2014).
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