Automotive industry boosts exports in May

The value of merchandise exports in May 2017 was USD$35.466 million, 12.9% higher than the registered in the same period last year
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27/06/2017
18:55
Rubén Migueles
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Mexican exports continued their growth last May due to the dynamism of manufacturing sales abroad, particularly in the automotive industry, according to recent data from the trade balance reported by the National Institute of Statistics and Geography (INEGI).

The value of merchandise exports in May 2017 was USD$35.466 million, 12.9% higher than the registered in the same period last year, the second highest rate since October 2012.

The increase in exports during the fifth month of the year was a result of a 13.8% increase in non-oil exports and a 3.5% drop in oil companies. Within the non-oil exports, foreign trade to the United States grew 12.6% and to the rest of the world grew 20.4%.

Foreign trade information from May 2017 indicates that there was a trade deficit of USD$1.79 billion, compared to the deficit of USD$442 million observed in the fifth month of 2016. For the first five months of this year, the trade balance showed a deficit of USD$2.971 million.

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