The trade deficit increases, it is the second with the worst performance in 20 months
The the trade deficit doubled in Octobertotaling two thousand 12 million dollars, against 895 million dollars the previous September, according to figures from the Bank of Mexico.
This was due to the fact that from the tenth month of the year to the previous period, exports increased to 49 thousand 275 million dollars, from 52 thousand 338 million, with which they marked second worst performance in 20 monthsaccording to seasonally adjusted figures.
The real contraction in exports, 4.17%, was due to both the oil component, with a down 11.09%, like the non-oil tankerwith a monthly decline of 3.69%.
“This connects Mexico to the negative inertia that the global industry has experienced and could be the gateway for the contagion of a possible crisis,” said Marcos Arias Novelo, economic analyst at Monex Financial Group.
More in detail, explained that the most significant variations occurred in the oil positionssince prices are already better integrating the drop of nearly 40% that the main crude oil benchmarks have suffered since June.
So the oil exports fell 11.1% and the imports at 17.7%notably in consumer goods, due to lower fuel prices.
Likewise, the manufacturing sector decreased by 4.3% per monthwith less than 2.9 percent in the case of automotive exports and minus 5.0 percent for the other cmanufacturing categorieswhich are also among the worst performers of the past 20 years.
Likewise, the Imports fell by 2.36% in real terms over the period comparison, going from 53 thousand 233 million to 51 thousand 267 million dollars.
Source: El Heraldo De Mexico
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