Mexico’s trade surplus hikes 39.9% in February, preliminary figures show

Mexico’s trade surplus hikes 39.9% in February, preliminary figures show

Warning: foreach() argument must be of type array|object, bool given in /home/mexiconow/public_html/sites/mexiconow/wp-content/themes/mexiconowwpnew/single.php on line 254

The trade balance of Mexico showed a surplus of US$ 1.06 billion in February, which compared with the same month of 2017 represented an increase of 39.9%, according to preliminary figures released today by the National Institute of Statistics and Geography (Inegi).

The surplus derives from an annual growth of 12.3% in exports which totaled US$ 35.2 billion. Oil exports increased 36.6% to US$ 2.6 billion, while non-oil-related shipments rose 10.8% to US$ 32.6 billion.

Manufacturing exports, one of the main engines of the Mexican economy, grew 10.5% in February to US$ 30.49 billion and represented 87% of the total exported goods.

In the manufacturing sector, automotive exports totaled US$ 11.4 billion, which represented a growth of 17.9% at annual rate. 

Meanwhile, total imports amounted to US$ 34.15 billion, up 11.7% compared to February 2017. Oil imports showed an expansion of 28.9% to US$ 3.93 billion, while capital goods totaled US$ 3.39 billion, up 20.1% at an annualized rate.

Imports of intermediary goods totaled US$ US$ 26.18 billion, representing a 10.6% increase. Imports of consumer goods totaled US$ 4.57 billion, reflecting an upward variation of 12.1%, driven mainly by oil-related goods, which reported an increase of 32.5% to US$ 1.43 billion.


Related News

- Mexican exports to Canada up 4.3%; trade surplus hikes 13.7%

- Despite a 12.5% increase in exports, Mexico’s trade deficit hikes 27% in January

- Mexico’s unemployment drops in February to lowest in 7 months

- Samsung Queretaro plant, unaffected by US tariffs, official says