Mexico exports fall 7.7% in August

Mexico exports fall 7.7% in August

Mexico’s exports reached 36.979 million dollars in August, a year-on-year decrease of 7.7%, informed the Inegi.

This figure was made up of $ 35.283 million from non-oil sales and $ 1.696 million from oil companies.

The global decline was the result of reductions of 7.5% in non-oil exports and 11.4% in oil exports.

Within non-oil exports, those directed to the United States fell at an annual rate of 7.7% and those channeled to the rest of the world did so by 6.6 percent.

With series adjusted for seasonality, in August 2020, Mexico’s exports reported a monthly growth of 4.88%, which was the result of 4.25% advances in non-oil exports and 19.86% in oil exports.

Mexico Exports

Exports of manufactured products in August 2020 totaled 33.539 million dollars, which represented a drop of 8.3% at the annual rate.

The most important variations were observed in exports of steel products (-21.1%), automotive products (-11.9%), professional and scientific equipment (-10.7%), electrical and electronic equipment
and appliances (-7.8 %) and machinery and special equipment for various industries (-3.7 percent).

In turn, the annual decline in exports of automotive products was derived from decreases of 12.9% in sales channeled to the United States and 6.8% in those directed to other markets.

The value of Mexico’s exports in the agricultural and fisheries sector in the eighth month of this year was 1,010 million dollars, an amount that implied an annual reduction of 5 percent.

The most outstanding setbacks were registered in exports of chickpea (-48.2%), grapes and raisins (-40.8%), avocado (-31.7%) and fish, crustaceans and molluscs (-23.4 percent).

In contrast, the most relevant annual growths occurred in exports of cattle (62.4%) and tomato (27 percent).

Regarding exports from Mexico in the extractive industry, these were located at 733 million dollars with an annual rate of 41.7 percent.

In the January-August period of this year, the value of Mexico’s exports was 255.695 million dollars, which meant an annual fall of 16.6%; This rate was a reflection of decreases of 15.3% in non-oil exports and of 37.9% in oil exports.


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