External sales from Mexico to the United States grow 103% in April

External sales from Mexico to the United States grew 103% in April at an annual rate, totaling 32.177 million dollars, according to data from the Census Bureau.

In the United States, economic activity accelerated its rate of expansion, going from a seasonally adjusted quarterly rate of 1.1% in the fourth quarter of 2020 to one of 1.6% in the first quarter of 2021.

For Banco de México , this growth reflected the expansion of private consumption, public spending and investment.

This, in an environment of important advances in the vaccination process, fewer confinement measures and large fiscal stimuli, around 900,000 million dollars approved in December 2020 and 1.84 billion dollars in March 2021.

On the other hand, net exports had a negative contribution as a result of an expansion in imports.

In this environment, foreign sales from Mexico to the United States totaled 122.045 million dollars from January to April 2021, an advance of 18.2% year-on-year.

External sales

The coronavirus pandemic caused a severe and synchronized slowdown in economic activity during the spring of 2020. Many companies were hit hard when societies around the world changed their behavior and restrictions were introduced to reduce the spread of the infection.

As 2021 unfolds, the world’s major economies have begun a recovery, at varying rates.

In April, United States merchandise imports rose 36.9% annually, to $ 226.863 million.

With this, in the first four months of 2021, US imports totaled 862,832 million dollars, which reflected an increase of 17.4% compared to the same period of the previous year.

Around the world, Mexican external sales of products grew 75.6% in April and 16% in the accumulated in the first four months of 2021, at interannual rates.

Thus, exports from Mexico were 40,772.8 million dollars in April and added 152,636.6 million from January to April.