Mexico's Ministry of Economy declared that 80% of Mexico's commercial volume with the U.S. is concentrated in intermediate products (56%) and capital goods (24%). 75% of Mexico's exports are materials for production processes in the U.S. Mexico's exports to the U.S. during 2016 were valued at nearly US$303 billion (US$95 billion were capital goods and US$131 billion were intermediate goods). A high percentage of imports coming from the U.S. are materials for Mexico's manufacturing production, commented Kenneth Smith Ramos, director of the NAFTA office at the Mexican Embassy in Washington.