Mexico’s Exports Fall in November After Five Months of Growth

RIO DE JANEIRO, BRAZIL – Mexico’s exports contracted 1.8% during November, compared to the previous month, show the seasonally adjusted data of the trade balance published this Thursday, December 24th, by the National Institute of Statistics and Geography (Inegi).

With this, merchandise shipments abroad broke for five months with rallies, the result of the gradual economic reopening.

The October export data was revised up from 4.8% to 5.1%, according to seasonally adjusted data.

According to Inegi, the total amount of exports was 38,732.2 million dollars, after registering 39,461.3 in October.

The contraction of exports in the penultimate month of the year occurs in the context of new containment measures and restrictions on non-essential activities in the Mexican economy that could be reflected in the December data.

In its annual comparison, the shipment of goods abroad had a rise of 3.6%, lower than the 6.6% in October, show the data adjusted for seasonality.
Imports gain strength

The trade balance for November shows that imports had a 6% monthly rise, after rebounding 2% in September.

The total value of imports was 34,980.2 million dollars, its highest amount since February, that is, prepandemic levels, show the seasonally adjusted data.

In addition, they accumulated six months of growth and reflect the state of the Mexican economy and the demand for products from abroad.

Compared to November 2019, imports contracted 3.3%, less profound than in previous months. In October, the decline was 10.4%.

The balance of the trade balance had a surplus of 3,752.1 million dollars, according to the seasonally adjusted data.

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