Mexican exports grew by 11% in April

Mexican exports grew by 11% in April

MEXICO - Total exports of products from Mexico registered a year-on-year growth of 11.4% in April, driven by a 27.7% increase in automotive exports, informed Inegi.

Conversely, Mexican foreign purchases rose 15.4% and imports of capital goods stood out among their components, with an increase of 32.5% at annual rate.

Regarding external demand, most of the members of Banco de México's Board of Governors indicated at the beginning of this month that Mexican manufacturing exports have remained at high levels, although with low dynamism.

One of them indicated that external demand is expected to remain sluggish in view of the prevailing weakness in the U.S. manufacturing sector, which could prolong the low dynamism of domestic manufacturing production.

With their respective growth, Mexico's automotive exports amounted to US$16.4 billion in April, while imports of capital goods amounted to US$5.8 billion.

Total exports showed an increase as a net result of a 13.1% growth in non-oil exports and a 17.5% drop in oil exports.