This article analyzes Mexican trade in manufactured goods at the subsector level for the period 1993-2013. The results show that underlying dynamic manufacturing exports is a high depen- dency on manufacturing imports, particularly of capital and intermediate goods and high tech- nology inputs. This has led to important deficits in the trade balance for important manufactur- ing sectors. In addition, although the Mexican economy has had trade surpluses with both Canada and the United States, it has shown increasing trade deficits vis-à-vis China, Japan, Ko- rea, and the European Union, particularly in the manufacturing sector.
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