Mexico registered last May a trade deficit of 74 million dollars, although it was accompanied by an increase of almost 6% in the exportsinformed this Tuesday the National Institute of Statistics and Geography (Inegi).
The number is compared to the deficit of 2,256 million dollars in the same month of 2022 and with the deficit of 1,509 million dollars last April, as the autonomous body recalled in its report.
This way, Mexico accumulated a trade deficit of 6,382.1 million dollars in the first five months of 2023, a year-on-year reduction of 27.6%.
Only in May, total exports totaled 52,860.4 million dollars, an amount 5.8% higher than the same month last year, the agency specified based on original figures.
But oil sales decreased by 28.2% year-on-year to settle at 2,728.9 million dollars.
While non-oil rose 8.6% to 50,131.6 million dollars.
“Within non-oil exports, those directed to the United States advanced 11.4% at an annual rate and those channeled to the rest of the world fell 3.5%,” the Inegi deepened.
On the other hand, imports totaled 52,934.5 million dollars in May, 1.4% more than the same month last year.
Oil purchases decreased by 40.1% year on year, settling at 4,190.2 million dollars.
While non-oil increased by 7.8% to add 48,744.3 million dollars.
When considering imports by type of good, annual increases of 13.5% were observed in imports of consumer goods and 24.1% in those of capital goods. Imports of intermediate use goods fell 2.8%”,
detailed the Inegi.
In the first five months of 2023, Mexico’s exports rose 4.6% year-on-year to $240,168.3 million.
Imports from January to May rose 3.4% year-on-year to 246,550.3 million dollars.
Mexico had a trade deficit of 26,241.1 million dollars in 2022, a figure 141.5% higher than the also negative data of 10,939 million dollars in 2021.
The country has adhered to the Treaty between Mexico, the United States and Canada (T-MEC) to boost its economic growth, which was 3.1% in 2022, a figure that the Government intends to replicate this 2023.
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