Economic Impact of Mexico-U.S. Avocado Trade: Key Insights and Growth Trends
Originally published by FreshPlaza. Read the full article here.
The Mexico-U.S. avocado trade has reached unprecedented levels, significantly benefiting both economies. According to the Avocado Institute of Mexico's 2023-2024 Economic Report, U.S. imports of Mexican Hass avocados amounted to $3.52 billion in the last fiscal year (July 2023 – June 2024). This trade contributed $7.5 billion to U.S. economic output, $4.2 billion to GDP, and supported over 42,000 American jobs, generating $2.5 billion in labor income and $1.1 billion in taxes.
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In Mexico, approximately 35,000 avocado growers, primarily small family farms, along with over ninety packing houses, exported 2.4 billion pounds of Hass avocados to the U.S. last year. This activity resulted in $6 billion in economic output for Mexico. Ron Campbell, Executive Director of the Mexican Hass Avocado Importers Association (MHAIA), emphasized the mutual benefits of this trade relationship and the industry's commitment to sustainable growth.
The report also highlights the growing economic impact in key U.S. and Mexican states, indicating that the pro-growth trend of Mexican Hass avocado imports is expected to continue in the coming years.
This summary is based on the article "Economic impact of Mexico-U.S. avocado trade reaches new heights" published by FreshPlaza.
Publication date: Fri 13 Dec 2024
Originally published by FreshPlaza. Read the full article here.