Mexico has reduced its traditional dependence on the United States by opening up new markets in other countries, Economy Secretary Bruno Ferrari said.

In statements to reporters, Ferrari said the United States once accounted for 85 percent of Mexico's international trade flows but that proportion has fallen to 80 percent.

Meanwhile, goods and services from Mexico now account for roughly 12 percent of total U.S. imports, up from 9 percent, the secretary said.

A total of 26 percent of all vehicles - and a whopping 83 percent of all trucks - on U.S. roads are made in Mexico, Ferrari said, adding that "we have the most attractive manufacturing costs in the entire northern hemisphere."

Ferrari cited a trade accord with Peru, whose economy has been growing at a rate of more than 8 percent annually, as an example of the expanded markets for Mexican exports.

He added that the pact with Peru - still waiting ratification by the Mexican Senate - contains an investment protection clause.

"It's important to tap markets that are growing at a significant clip," he said. "Latin America is the region with the second-highest growth rate after Asia."

Mexico's future growth prospects are strong and the country has not yet suffered any visible repercussions from the European sovereign debt crisis, Ferrari said, although he warned of a potential dip in global trade.

Investor confidence in Mexico, which grew 5.5 percent in 2010, remains robust due to the government's "responsible management" of public finances, "solid" foreign currency reserves and Mexican banks' high credit ratings, Ferrari said.