Exports from Mexico to the US grow 6.7% in October

Exports from Mexico to the United States registered a growth of 6.7% year-on-year, to 33.149 million dollars, reported the Department of Commerce.

Cumulatively, these external sales were for 265.935 million dollars, which represented a contraction of 11.7%, at an annual rate.

The global outbreak of Covid-19 and public health measures to mitigate it are having a material adverse impact on the economy of Mexico and the world.

Covid-19 cases have been reported in Mexico since February 2020, and the Mexican government has taken extensive measures designed to mitigate the spread of the disease and its impact on public health. Specifically in the international trade sector, companies established in Mexico suffered the greatest impacts in April and June.

From January to October, Mexico’s external sales comprised 14.3% of total foreign purchases from the United States.

Mexico Exports

In its merchandise trade with the whole world, Mexico registered a surplus of 6.224 million dollars in October, a new all-time high.

The result came from a 2.9% year-on-year increase in Mexican exports, to 41,945 million dollars, and a 13.8% drop in imports, to 35,721 million dollars.

US exports to Mexico totaled $ 173.742 million from January to October, a 19.8% year-on-year drop.