ZCZC
BCN-23
MEXICO-EXPORT-TRADE-MANUFACTURING
Mexican exports increase 12 pct in September: Inegi
MEXICO CITY, Oct. 27 (Xinhua) — Mexico’s exports registered a 12 percent
year-on-year growth in September, the National Institute of Statistics and
Geography (Inegi) said Friday.
Exports generated over 37.806 billion U.S. dollars in September, which was
strengthened by manufactured shipments that mostly headed north to the United
States, said Inegi in its monthly report.
The breakdown shows that the biggest increase came from the oil industry,
where oil exports rose by 43.8 percent in September compared with the same
period last year and generated almost 2.8 billion dollars.
Meanwhile, exports from the manufacturing industry, which accounted for 88
percent of Mexico’s total exports, increased by 10.5 percent in September
year-on-year and generated 33.52 billion dollars.
In terms of import, Mexico registered a growth of 6.4 percent in September,
reaching 37.999 billion dollars, which makes a trade deficit of 193 million
dollars, the lowest since December 2017, according to Inegi.
Financial Group Banorte said in a report to its clients that September’s
figures showed a good performance of the external sector despite global
uncertainty.
“We believe that the report confirms the good performance we expect for the
export sector in the coming months, which could also be supported at least by
the lesser uncertainty after the trade agreement with the United States and
Canada,” said Banorte.
The strength of the U.S. economy, with an annualized growth of 3.5 percent
during the third quarter of the year, should also help boost Mexican exports,
said the bank.
The United States-Mexico-Canada Agreement (USMCA) was finalized on Sept. 30
and could enter into force in 2019, after the approval of the legislatures of
the three countries.
BSS/XINHUA/HR/1436