Here’s How International Trade Is Growing in Arizona

International trade opportunities continue to multiply in Arizona as the state seeks to position itself at the forefront of the 21st century economy.

According to various experts, an increase in global trade, more efficient regionalized supply chains, and diplomatic relationships with other countries have led to a more robust and diverse state economy.

“Trade opportunities continue to grow for Arizona because of its strong cultural and geographical ties to Mexico and the positive implications of the United States-Mexico-Canada Agreement (USMCA),” said United States international trade professional Caitlyn Hendricks-Costello. “A proactive, collaborative approach by the state’s private and public sectors have also contributed to Arizona’s success in the global economy.”

In September, a panel featuring various international trade experts, including representatives from the U.S. Hispanic Chamber of Commerce, noted that in a 7-month span, from January to July, Arizona’s trade with Mexico has increased 7.5% ($800,000) from the same period in 2021. Moreover, in the first seven months of 2022, trade between all three USMCA partners has resulted in $14.5 billion, a 7.3% increase from 2021.