mexico exports

Mexico exports increase in first quarter of 2018 | INEGI report

Last March, the value of Mexico exports in merchandise increased 10 percent annually, compared to the same period of 2017, driven by automotive sales abroad, INEGI reported today.

Thus, in the first three months of the year, the value of total exports reached over $590 million dollars, which meant an annual rise of 11.5 percent, reflecting advances of 10.2 percent in non-oil exports and 33.1 percent in the oil companies.

In its report, the National Institute of Statistics and Geography (INEGI) detailed that in the third month of the year, Mexico exports registered a trade surplus of $918 million dollars, driven by non-oil products.

According to the agency, the value of merchandise exports totaled $650 million dollars during the third month of the year, an amount higher by 10 percent; driven by increases of 8.6 percent in non-oil exports and 38.9 percent in oil companies.

In turn, oil exports amounted to $388 million dollars, of which $22 million dollars corresponded to sales of crude oil and $366 million dollars of exports of other oil products.

The INEGI detailed that within the non-oil exports, those directed to the United States reported an annual growth of 5.5 percent, while those channeled to the rest of the world presented an increase of 22.7 percent.

While exports of manufactured products in March 2018 reached $663 million dollars, which represented an advance of 7.5 percent at annual rate.

The most important increases were observed in the exports of iron and steel products, of 29 percent, of automotive products, with an advance of 16.8 percent; of machinery and special equipment for diverse industries of 8.3 percent and of food, beverages and tobacco, of 4.4 percent.

In turn, the annual increase in exports of automotive products was derived from increases of 8.5 percent in sales channeled to the United States and 64.7 percent in those directed to other markets.

Read more Business and Economy news for Mexico.

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