The mexican economy recorded a trade balance deficit of 5,498 million dollars last August, a figure that compares with the also negative figure of 3,744 million dollars in the same month of 2021, reported this Tuesday the National Institute of Statistics and Geography (Inegi).
With this data, the trade balance accumulated a deficit of 24.402 million dollars in the first eight months of 2022, the autonomous body specified in its report.
Still, the exports in August they grew by 25.2% year-on-year, based on original figures, to a total of 50.670 million dollars.
Within this indicator, oil sales grew 19.7% to 3,215.1 million dollars, while non-oil sales rose 25.6% to 47,454.9 million dollars.
“Within non-oil exports, those directed to the United States grew at an annual rate of 27.6% and those channeled to the rest of the world, 17%”,
deepened the report.
On the other hand, imports totaled 56,168.2 million dollars in August, which implies a rise of 27% compared to the same month last year.
Oil purchases grew 49.5% annually compared to the previous period, reaching 7,584.6 million dollars, while non-oil purchases increased 24.1%, totaling 48,583.6 million dollars.
“When considering imports by type of good, annual advances of 43.8% were observed in imports of consumer goods, 24.2% in those of intermediate use goods and 30.1% in those of capital goods”,
the body added.
In this way, so far this year, Mexico has registered a total of 377,945.8 million dollars in exports and 402,347.6 million dollars in imports.
Exports are up 18.9% year-on-year in the first eight months of 2022, but imports are up 24.1%.
In 2021, Mexico had a trade deficit of 11,491.1 million dollars, a negative figure that compares with the surplus of 34,013 million dollars reported in 2020, a year in which both exports and imports fell due to the covid-19 pandemic. 19.
In 2019, the surplus was 5,409 million dollars, and in 2018 there was a deficit of 13,618 million dollars.
For your economic recovery, Mexico has bet on foreign trade and Treaty between Mexico, the United States and Canada (T-MEC)which entered into force in July 2020 after years of negotiations.
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