Last July, Mexico registered a trade deficit of 881 million dollarsalthough it was accompanied by a rise of almost 3% in exports, the National Institute of Statistics and Geography (Inegi) reported on Monday.
The figure is compared with the deficit of 6,247 million dollars in the same month of 2022 and with the surplus of 38 million dollars last Juneas the autonomous body recalled in its report.
This way, Mexico accumulated a trade deficit of 7,225.1 million dollars in the first 7 months of 2023a year-over-year reduction of 62.1%.
Only in July, total exports totaled 47,550.4 million dollars, an amount 2.9% higher than the same month last year, the agency specified based on original figures.
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But oil sales decreased by 28.5% year-on-year to settle at 2,729.8 million dollars. While non-oil rose 5.7% to 44,820.7 million dollars.
Within non-oil exports, those directed to the United States grew 6.9% at an annual rate and those channeled to the rest of the world, 0.3%, ”deepened the Inegi.
On the other hand, imports totaled 48,431.6 million dollars in July, 7.7% less than the same month last year.
Oil purchases plummeted 50.8% year-on-year, settling at 4,027.9 million dollars.
While non-oil increased by 0.3% to add 44,403.7 million dollars.
When considering imports by type of good, annual decreases of 9.1% were observed in imports of consumer goods and 10.4% in those of goods for intermediate use. Imports of capital goods grew 23.3%”, detailed the Inegi.
In the first seven months of 2023, exports from Mexico rose 3.8% year-on-year to 339,518.9 million dollars.
Imports from January to July rose 0.2% year-on-year to 346.744 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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EFE International news agency based in Madrid and present in more than 110 countries.