Mexico Reports $4.31 Billion Trade Deficit

In January, Mexico faced a trade deficit of $4.31 billion as imports of various goods increased while exports of manufactured items experienced a decline.

Export and Import Statistics

• Exports: The country saw a 1.5% decrease in exports amounting to $41.96 billion.
• Imports: Imports also decreased by 1%, totaling $46.27 billion.

Petroleum Sector

• Export Increase: Petroleum exports slightly increased by 0.2% to $2.72 billion, benefiting from higher crude oil prices.
• Import Decrease: Petroleum imports, including gasoline, diesel, and natural gas, saw a significant drop of 38% year-over-year, totaling $3.44 billion.

Manufactured Goods and Vehicles

• Manufactured Goods: Exports of manufactured goods faced a 2% decline, amounting to $36.57 billion.
• Vehicles: Shipments of vehicles and auto parts experienced a substantial decrease of 6.5%.

Consumer Goods and Machinery

• Nonpetroleum Intermediate Goods: Imports of these goods decreased by 1.5% to $31.39 billion.
• Consumer Goods: Driven by a strong Mexican peso against the U.S. dollar, imports of consumer goods surged by 24.5% to $6.43 billion.
• Machinery and Equipment: Imports in this category also saw a notable increase of 21.6%, reaching $5 billion.

These statistics shed light on the current trade scenario in Mexico, showing areas of growth and challenges that need to be addressed to balance the trade deficit.