Here’s How International Trade Is Growing in Arizona

Arizona continues to reap the benefits of international trade as it seeks to become a leader in the 21st-century economy by positioning itself at the forefront of international trade.

Several experts have stated that a robust and diverse state economy has been caused by increased global trade, a more efficient regionalized supply chain, and a stronger diplomatic relationship with other countries.

Caitlyn Hendricks-Costello, an international trade professional with the United States Department of Commerce's international trade department, commented that "trade opportunities continue to grow for Arizona as a result of its strong cultural and geographical connections with Mexico and as a result of the United States-Mexico-Canada Agreement (USMCA). In addition to Arizona's success in the global economy, a proactive and collaborative approach by both the public and private sectors has also contributed to that success.

In September, a panel featuring various international trade experts, including representatives from the U.S. Hispanic Chamber of Commerce, noted that in 7 months, 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.