Mexican imports rise 19% in January

Mexican imports of products climbed 18.5% in January at the annual rate, which amounted to 40,185.4 million dollars, reported the Inegi.

With series adjusted for seasonality, total imports registered a monthly fall of 3.42%, which was derived from decreases of 3.47% in non-oil imports and 2.96% in oil imports.

By type of good, there were monthly declines of 4.36% in imports of intermediate-use goods and 0.44% in capital goods, and a monthly growth of 0.71% in imports of consumer goods.

On the contrary, Mexican exports were 33,899.1 million dollars in January, an advance of 3.8% year-on-year, therefore Mexico registered a deficit of 6,286.3 million dollars.

Imports of consumer goods amounted to 5,396 million dollars, an annual increase of 32.1 percent.

This rate was the result of growth of 21.1% in imports of non-oil consumer goods and 70.9% in those of oil consumer goods (gasoline and butane and propane gas).

For its part, in January 2022 intermediate-use goods were imported for a value of 31,352 million dollars, a level 16.7% higher than that reported in January 2021.

In turn, this annual advance originated from increases of 14.1% in imports of non-oil intermediate-use goods and 48% in those of intermediate-use oil products.

Mexican imports

In January 2022, Mexico’s foreign purchases of capital goods reached 3,436 million dollars, an annual increase of 16.5 percent.

The structure of the value of imports in January 2022 was as follows: intermediate use goods 78%, consumer goods 13.4% and capital goods 8.6%.

With seasonally adjusted figures, in January 2022 the trade balance registered a deficit of 2,531 million dollars, while in December 2021 the deficit was 1,784 million dollars.

The widening of the seasonally adjusted deficit between December and January was derived from the combination of a decrease in the balance of the balance of non-oil products, which went from a surplus of 455 million dollars in December to a deficit of 412 million dollars in January, and from a lower deficit in the balance of oil products, which went from 2,240 million dollars to 2,119 million in that same comparison.