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Trade Balance Figures Show a Deficit For Beginning of 2016

Over the first two months, the sum of exports and imports is down $4.2 bln
By The News · 28 of March 2016 18:43:35
INEGI released the Trade Balance for Mexican Goods., No available, Photo: Notimex/Isabel Inclán

From January to February, oil, non-oil, mining, manufacturing and non-automotive exports showed negative numbers in comparison with 2015, according to the Trade Balance of Mexican Goods.

Shipments of Mexican products to the world fell 4.8 percent, $2.7 billion less, from $56.3 billion in 2015, to $53.6 billion this year.

Over the first two months oil fell 47.4 units, accumulating $2.2 billion dollars, when in the previous period it had increased $4.1 billion. Extraction industry exports fell 39.7 points.

With less significant losses, non-automotive exports declined 4.5 percentage points, a year earlier had rebounded 2.7, while other hydrocarbon shipments and manufacturing were down 1.4 points each.

Although agricultural exports showed positive growth at 10.8 percentage points, and automotive increased five points, the foreign trade balance, the result of the sum of exports and imports, had a deficit of $4.2 billion during the first two months of the year.

Figures from the National Geography and Statistics Institute (INEGI) also show a drop of 28.2 percent of oil imports, the purchase of foreign consumer goods fell by 7.6 and capital goods were reduced by 3.7 points.