Mexican exports rise 12.5%

The value of exports of Mexican goods in January 2018 was 30.7 billion US dollars, a figure 12.5% ​​higher than that reported in the same period of the previous year, according to the most recent data from the National Institute of Statistics and Geography (INEGI).

Non-oil exports reported an annual increase of 11.6% reaching 28.4 billion US dollars, while oil exports amounted to 2.3 billion US dollars, which meant an annual increase of 24.1%.

Within the non-oil exports, those directed to the United States grew 10.1% at annual rate, while those channeled to the rest of the world did so at 18.5%.

With seasonally adjusted series, total merchandise exports showed a monthly fall of 1.96%, which was the result of reductions of -1.35% in non-oil exports and -9.09% in oil exports.

On the other hand, the value of merchandise imports reached 35.1 billion US dollars, an amount that translates in an annual increase of 14.1%. This figure covers variations of 14.1% in non-oil imports and 14.8% in oil imports.

When considering imports by type of good, there were annual advances of 16.9% in consumption, 13.0% in intermediate use and 18.8% in capital goods.

With seasonally adjusted figures, total imports reported a monthly decrease of 2.45%, which was due to setbacks of 1.34% in non-oil and -11.34% in oil imports.

By type of good, there were monthly decreases of -5.39% in imports of consumer goods and -2.55% in those of intermediate goods.

Trade Deficit

The trade balance had a deficit of 4.4 billion US dollars last January.

2017’s figure

This figure represents a deficit 27% higher than that registered in the same month of 2017, when it was 3.4 billion US dollars, according to INEGI data.

Alejandro Cervantes, senior economist at Banorte, sees a greater dynamism in the flows of manufacturing exports for the future. “We believe that the uncertainty generated by the NAFTA negotiations and the upcoming electoral process will be reflected in a greater devaluation of the Mexican currency during the first half of the year.”

Source: Diario de Yucatán