Bloomberg is running a story saying Mexico has just eclipsed China as the largest exporter to the U.S. The rival news service is using a complicated formula, using the 12-month rolling average of the share of U.S. imports. But really, America’s southern neighbor has held the title for all of 2023. Here at MarketWatch, we like simpler calculations. Drawing on a quarterly series measuring trade on a balance of payments basis, Mexico took the lead in the third quarter of 2022.
The two series are not wildly different from one another. The data Bloomberg uses is the more timely data, based on documents collected by the U.S. Customs and Border Protection. The balance of payments data meanwhile is …
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