Mexico trade surplus reaches US$ 1.8 billion in December on higher automotive exports
Last December, Mexico Trade Balance recorded a surplus of US$ 1.83 billion, the highest monthly figure since the Government started keeping a record of this data in 1999.
This result is attributed to an increase in manufacturing exports, especially the automotive ones, which grew 7.4% during the last month of the year, totaling US$ 11.5 billion, as well as a reduction in imports of petroleum products, which fell 15.5% to US$ 1.38 billion.
Automotive manufacturing exports are the most dynamic in the country, of every US$ 100 in exported goods, US$ 31 are attributable to shipments of some vehicle, auto part or any automotive accessory or device.
The performance of exports of automotive products kept its momentum, during 2017 those grew on average 11.6% and during 2018 the growth reached 12.4%.
Last month, Mexico’s productive base exported goods and services worth of US$ 37.5 billion, 4.3% higher than the same month of 2017, when they totaled US$ 35.98 billion. Meanwhile, imports totaled US$ 35.7 billion, 0.8% lower than December 2017, according to figures from the National Institute of Statistics and Geography (Inegi).
On average, the level of Mexican exports grew 10.3% in their annual comparisons, while imports increased 10.7% on average, following the Inegi figures.
Overall 2018 was a bad year for the Trade Balance. While the accumulated deficit for the whole of 2017 was US$ 10.96 billion, for the year that just ended the negative balance increased to US$ 13.7 billion.
In terms of exports, the best month was October when shipments totaled US$ 41.35 billion, while the month with the lowest exports was January with US$ 30.7 billion.