Mexican Government Says More Are Crossing Border For Shopping
Mexican shoppers are paying more money in customs duties when they return from shopping in the U.S., according to Mexican government. But that may not necessarily mean that more people are crossing the border to shop in the U.S.
Mexico’s federal tax agency is reporting a bump in customs collections. It says that figure increased by 14 percent from January to April this year, compared to the same period last year.
But at the same time, Chris Wilson, with the non-partisan Mexico Institute, says that many border communities in the U.S. are reporting a decline in cross-border shoppers.
“The biggest reason for that is because of the value of the peso,” Wilson said. “The peso is weaker, so they can’t buy as much with it, in terms of dollars. So they’re more likely to buy domestically, and less likely to buy across the border in the United States.”
Cross-border shoppers returning from the U.S. to Mexico paid almost $5 million in customs duties during the first four months of this year.