Mexico’s agri-food trade reaches US$ 1.4 billion surplus
Food exports, which include agricultural and agro-industrial products, amounted to US$ 12. billion dollars in the first five months of the year, i.e. 5.1% more than in the same period last year.
Meanwhile, agricultural imports decreased by 8.2% and totaled US$ 10.5 billion dollars, showing Mexico required less of these goods in this period.
According to SAGARPA, the surplus reached in said period is one of the highest recorded positive balances of the food industry in recent years.
The authorities stated the surplus was due to a more dynamic primary field and the further opening of markets for Mexican products.
Up to May, cumulative exports of agricultural products increased by 7.1% and totaled US$ 6.2 billion dollars, SAGARPA stated.
Meanwhile, the agribusiness sector, which includes processed foods and beverages, made US$5.8 billion dollars in international sales, i.e. 3% higher over the year.