U.S terms of trade with Mexico advanced 4.9% for the year ended in March 2021, the largest over-the-year increase since the index was first published in December 2017. From March 2020 to March 2021, higher export prices to Mexico more than offset price increases for imports from Mexico, driving up the U.S. terms of trade. Prices for exports to Mexico advanced 9.3% over the past year, while import prices from Mexico rose 4.2%.
The 12-month increase in U.S. terms of trade with Mexico was partly driven by a 5.5% advance from December to March, the largest 3-month rise since the index was first published in December 2017.
These data are from the International Price program. Terms of trade indexes are based on country, region, or grouping and measure the change in the purchasing power of exports relative to imports. To learn more, see “U.S. Import and Export Price Indexes — March 2021.” Also see our blog post about measuring terms of trade. We also have more charts on U.S. import and export prices. Import and export price changes may be revised in each of the three months after original publication.