Mexico exports register their highest value in history

Mexico exports register their highest value in history

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MEXICO – The value of Mexican merchandise exports was US$41.9 billion during October, which represented an increase of 2.9% at an annual rate, according to data from the National Institute of Statistics and Geography (INEGI).

The above represented that shipments abroad reached their highest level since there is a record, that is, since 1991.

In addition, exports linked two consecutive months with increases; last September they rose 3.66%.

Previously, the steepest declines so far this year were registered in April (40.9%) and May (56.7%).

On the one hand, oil exports amounted to US$1.3 billion, that is, they had a decrease of 30.2% at the annual rate for October, which meant its ninth consecutive month down.

Non-oil exports registered US$40.6 billion or an increase of 4.5%, their second month of advance after five months in negative territory.

Manufacturing shipments were US$38.3 billion, that is, an increase of 3.5% was observed.

In a disaggregated manner, automotive exports rose 12.8%, while non-automotive exports fell 1.1% when compared to the same period of the previous year.

With series adjusted for seasonality, merchandise exports reported a monthly growth of 4.81%, which was the net result of an advance of 5.29% in non-oil exports and a drop of 7.17% in oil companies.

Source: El Financiero