Exports of Mexican products rise 2.9% in October

Exports of Mexican products grew 2.9% year-on-year in October, to 41,945 million dollars, Inegi reported this Friday.

The value of product exports was made up of 40,660 million dollars of non-oil exports and 1,284 million dollars of oil companies.

Thus, in the reference month, total exports showed annual growth that was the net result of a 4.5% rise in non-oil exports and a 30.2% decrease in oil exports.

Within non-oil exports, those directed to the United States advanced at an annual rate of 4.7% and those channeled to the rest of the world did so by 3.2 percent.

With series adjusted for seasonality, in October 2020, product exports reported a monthly growth of 4.81%, which was the net result of an advance of 5.29% in non-oil exports and a drop of 7.17% in oil companies.

Exports of Mexican products

External sales of manufactured goods in October 2020 reached 38.335 million dollars, which represented an increase of 3.5% at the annual rate.

The most important annual variations were observed in exports of mining metallurgy products (13.3%), automotive products (12.8%), food, beverages and tobacco (8.4%) and plastic and rubber products (3.9 percent) .

In turn, the annual increase in exports of automotive products was derived from increases of 15.4% in sales channeled to the United States and 1.4% in those directed to other markets.

The value of agricultural and fishing exports in the tenth month of the current year was 1,452 million dollars, an amount that implied an annual advance of 5.7 percent.

The most important growths were recorded in exports of melon, watermelon and papaya (88.1%), tomato (27%), cucumber (23.1%), cattle (21.5%) and fresh legumes and vegetables (7.8%). hundred).

In contrast, the most relevant annual setbacks occurred in frozen shrimp exports (-18.2%) and avocado (-11.1 percent).

As for extractive exports, these were located at 873 million dollars with an annual rate of 66.4 percent.

In the period January-October 2020, the value of total exports was 336,187 million dollars, which meant an annual decrease of 12.6 percent.

This rate was a reflection of reductions of 11.2% in non-oil exports and of 35.9% in oil exports.