Mexico exports fall 8.9% in July

Exports from Mexico totaled 35,662.4 million dollars in July, a year-on-year drop of 8.9%, reported Inegi.

While foreign oil sales fell 36.5%, to 1,403.9 million, non-oil sales fell 7.2%, to 34,258.5 million, at an annual rate.

Within Mexico’s non-oil exports, those directed to the United States fell at an annual rate of 7.3% and those channeled to the rest of the world fell 6.6 percent.

Exports of manufactured products in July were 32.613 million dollars, which represented a reduction of 7.2% year-on-year.

The most important setbacks were observed in exports of steel products (-16.1%), professional and scientific equipment (-12.1%), machinery and special equipment for various industries (-9.5%), automotive products (- 7.2%) and electrical and electronic equipment and appliances (-3.2 percent).

In turn, the annual decline in Mexican exports of automotive products was the result of a 7.3% decrease in sales channeled to the United States and a 6.7% decrease in sales to other markets.

Mexico Exports

The value of agricultural and fishing exports in the seventh month of the current year totaled 1,078 million dollars, an amount that implied a negative variation of 13% at the annual rate.

The most significant reductions were registered in exports of grapes and raisins (-55.1%), avocado (-46.1%), fish, crustaceans and molluscs (-31.8%), fruits and edible fruits (-26.2%) and citrus (-18.9 percent).

In contrast, the most relevant annual increases were reported in exports of raw coffee beans (88.3%) and tomato (32.2%). As for extractive exports, these were located at 567 million dollars with an annual rate of 3.7 percent.

In the January-July period of this year, the value of Mexico’s exports was 218,716 million dollars, which represented an annual fall of 17.9 percent.

This rate was derived from setbacks of 16.4% in non-oil exports and 41.1% in oil companies

With series adjusted for seasonality, in July of the current year, Mexico’s exports reported a monthly growth of 9.81%, which was the result of increases of 10.18% in non-oil exports and 1.46% in oil companies.