Mexico’s Trade Deficit Down 48.2% in First 10 Months of 2014

Mexico posted a $1.6 billion trade deficit between January and October, down 48.2 percent from the same period of 2013, the National Institute of Statistics and Geography (INEGI) said on Wednesday.
Mexico’s exports were valued at $331.1 billion, up 4.7 percent from the first 10 months of last year, while its imports amounted to $332.7 billion, up 4.2 percent, INEGI said in a statement.
Oil exports totaled $37.3 billion between January and October, down 9.9 percent, and non-oil exports amounted to $293.7 billion, up 6.9 percent.
Mexico posted a trade surplus of $143 million in October, compared with a $135 million trade deficit in the same month of 2013.
Exports in October came in at $37.1 billion, a 5.7 percent increase from the same month of last year, while imports totaled $36.9 billion, up 4.9 percent.
Oil exports last month plunged 21 percent year-on-year to $3.4 billion due to lower prices and a lower volume of crude exported, but non-oil exports rose 9.5 percent to $33.7 billion.
Mexico posted a $1.2 billion trade deficit in 2013 after registering an $18 million trade surplus in 2012.

Source: LAHT

One comment

  1. For Americans traveling to Mexico this and next year, and perhaps for years to come … will cost less in Mexico due to the rapid decline in the Peso. The rapid decline in the coat of a barrel of oil ( believed to decline to $50 is ravishing the economies of many countries. Russia is on the verge of economic collapse . The U.S. due to fracking, is now considered to have the largest oil reserve of the oil producing countries. Thus the American greenback is rising, and America’s oil exports are increasing. To balance Mexico’s economy, it is counting on increasing the import of American dollars from Mexican immigrants into the U.S. who send billions of dollars back to the Mexican banks. Meanwhile the cost of a gallon of gasoline in some U.S. states has gone down to under $2.00 a gallon from over $4.00 a gallon.

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