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US-LatAm Trade Fell 20% in First Quarter
US trade with Brazil plunges 36%, with Mexico it falls 3.7%.
BY LATINVEX STAFF
US trade with Latin America decreased 20.2% in the first quarter, according to a Latinvex analysis of US Census Bureau data.
Both Mexico and Brazil — the top two trade partners – suffered declines.
All in all, US trade with Latin America reached $336.7 billion, which was $85.2 billion less than in the first quarter last year.
US exports to Latin America fell 21.6% to $152 billion, while imports declined 19% to $184.7 billion. The US trade deficit with Latin America shrank 3.8% to $33.9 billion.
The US-Latin America trade decline was caused by a combination of factors, including US trade tariffs and the prolonged Iran war, which is hurting oil-importing countries in Latin America.
US trade with Mexico, its top trade partner worldwide, fell 3.7% in the first quarter to $237.3 billion. US exports declined 3.6% to $95.7 billion, while imports decreased 3.8% to $141.7 billion.
The US trade deficit with Mexico shrank 4.4% to $45.99 billion.
| US-Latin America Trade: Top Partners | |||||||
| US trade with Latin America in the first quarter, billions of US dollars. Percent change over Q1 2025. | |||||||
| Country/Area | Exports | Ch | Imports | Ch | Total | Ch | |
| Mexico | $ 95.656 | -3.60% | $ 141.653 | -3.80% | $ 237.309 | -3.70% | |
| South/Central Am | $ 56.360 | -40.50% | $ 43.000 | -46.60% | $ 99.359 | -43.30% | |
| Brazil | $ 13.388 | -36.40% | $ 8.775 | -34.90% | $ 22.163 | -35.80% | |
| Total LA | $ 152.016 | -21.60% | $ 184.653 | -19% | $ 336.669 | -20.20% | |
| Source: Latinvex using data from US Census Bureau | |||||||
US trade with Brazil plunged 35.8% in the first quarter to $22.2 billion. US exports declined 36.4% to $13.4 billion, while imports decreased 34.9% to $8.8 billion.
As a result, the US trade surplus with Brazil shrank 39.1% to $4.6 billion.
Before the US Supreme Court in February ruled that President Donald Trump’s tariffs were illegal, Brazil suffered from a 50% US tariff.
The decline in US-Latin American trade the first quarter comes after growth of 4% last year, according to a Latinvex analysis of US Census Bureau data.
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