Mexico’s exports: a boost for the automotive industry
Mexico‘s exports totaled US$42,590.6 million in January 2023, a year-on-year increase of 25.6%, driven by the automotive industry. Conversely, Mexican imports (which, like exports, consider products without services) totaled 46,715.7 million dollars, an increase of 16.3% year-over-year. With this, Mexico registered a deficit of 4,125.1 billion dollars in its trade balance, informed Inegi this Monday. […]
Mexico’s imports rose 19.6% in 2022
Mexico‘s imports registered a year-on-year increase of 19.6 percent in 2022, to 604,614.6 million dollars, Inegi reported Friday. In particular, in December 2022, total merchandise imports showed a seasonally adjusted monthly increase of 2.72 percent. This variation originated from increases of 1.87 percent in non-oil imports and 10.60 percent in oil imports. By type of […]
Global importance of Chinese manufacturing
After China entered the World Trade Organization in late 2001, its manufacturing output grew rapidly, as global companies shifted manufacturing from higher-wage countries to China. Then, in 2010, China overtook the United States to become the world’s largest manufacturer by output. In 2019, China accounted for 28.7% of global manufacturing output, surpassing the United States […]
World output: PMI falls to 49 points
The October PMI surveys indicated that the slowdown in global economic activity continued for the third consecutive month, with the services sector joining industry in contraction territory. At the same time, business optimism fell to its lowest level in 28 months as new order inflows and international trade flows continued to decline in the face […]
United States GDP Grows 2.6% in 3Q22
U.S. real Gross Domestic Product (GDP) increased at an annual rate of 2.6 percent in 3Q2022, according to the «advance» estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP declined 0.6 percent. In general, the GDP estimate released Thursday is based on source data that is incomplete or subject to […]
Mexican imports hit record high
Mexican imports totaled 56,168.2 million dollars in August, which represents a 27% annual increase and a record. In August 2022, the advance in the value of imports reflected growth of 24.1% in non-oil imports and 49.5% in oil imports. When considering imports by type of good, annual increases of 43.8% were observed in imports of […]
Mexico’s exports grow 25.2%
Mexico‘s exports grew 25.2% in August, to 50.67 billion dollars, above the average of what they had previously increased in 2022. With this, Inegi reported that Mexican exports accumulated an increase of 18.9%, to 377,945.8 million dollars. On the other hand, Mexico imported products for a customs value of 56,168.2 million dollars in August, 27% […]
Mexico: wage bill falls, but remittances rise
The wage bill in Mexico decreased in June, although it is already above February 2020 levels, highlighted the IMEF in its monthly leading indicators report. On the other hand, remittances remain strong at levels well above pre-pandemic levels. This has been reflected in the increase in retail sales, which showed growth in June and July, […]
Walmart sells 15% of Procter & Gamble’s products
Procter & Gamble sales to Walmart Inc. and its subsidiaries account for 15% of this consumer goods company’s total sales in 2022, 2021 and 2020. No other customer accounts for more than 10% of Procter & Gamble’s total sales, while its top 10 customers accounted for 39% of its total sales in 2022, 39% in […]
Ferromex increases revenues by 4.1%
Grupo México Transportes (GMxT), known as Ferromex, increased its revenues by 4.1% in the second quarter of 2022 at annual rate, totaling 13,438 million pesos. GMxT is the Transportation division of Mexican conglomerate Grupo Mexico. In the second quarter of this year, GMxT saw a reduction in transported volume of 10.20 percent. According to Intercam […]