The National Institute of Statistics and Geography (Inegi) reported on Thursday that the trade balance for May of this year presented a surplus of 1,991 million dollars (million dollars) , higher than the deficit balance of May of last year by 99 million dollars.
The trade surplus for the fifth month of this year was comprised of 55,671 million dollars in the value of total merchandise exports and 53,680 million dollars in the value of imports.
The export figure in the reference month was made up of 52,502 million dollars of non-oil exports and 3,169 million dollars of oil exports. Thus, total exports registered an annual growth of 5.4%, reflecting increases of 4.8% in non-oil exports and 15.7% in oil exports.
The Inegi indicated that during May of this year exports of manufactured products reached 49,587 million dollars, which represented an advance of 4.5% at an annual rate.
The most important increases were observed in exports of machinery and special equipment for various industries (12.6%) , in professional and scientific equipment (10.8%), in electrical and electronic equipment and appliances (10.2%), in plastic and rubber products (7.1%) and in automotive products (1.2%).
“In turn, the annual growth in exports of automotive products was derived from a 5.7% increase in sales to the United States and a 20.4% drop in sales to other markets,” according to the statistics office. of the government.
In the fifth month of the current year, the value of agricultural and fishing exports was two thousand 088 million dollars , an amount that implied an annual drop of 0.6 percent. The most significant declines were recorded in exports of fresh strawberries (57.8%), citrus fruits (25.1%), fish, crustaceans and mollusks (13.0%), edible fruits and nuts (12.7%) and fresh legumes and vegetables (4.5%). . In contrast, the most relevant annual growth occurred in exports of grapes and raisins (95.9%) and cattle (54.2%). Extractive exports stood at 828 million dollars, with an advance of 50.5 percent.
In May 2024, the value of oil exports was $3,169 million. This amount was made up of $2,145 million in crude oil sales and $1,023 million in exports of other oil products.
In the period January-May 2024, the value of total exports totaled 250,516 million dollars, which meant an annual increase of 4.4 percent. This rate reflected a 4.7% increase in non-oil exports and a 0.9% decrease in oil exports.
Likewise, in the first five months of this year, the value structure of merchandise exports was as follows : manufactured goods, 88.8%; petroleum products, 5.1%; agricultural goods, 4.5%, and non-petroleum extractive products, 1.6 percent.
Imports
In addition, Inegi reported that, in the fifth month of this year, imports of consumer goods amounted to seven thousand 838 million dollars, a figure that represented an annual growth of 2.7 percent.
This rate originated from a 15.7% increase in imports of non-oil consumer goods and a 44.8% reduction in oil consumer goods (gasoline, butane and propane gas).
For their part, intermediate use goods were imported for a value of 40,441 million dollars , a level 0.3% higher than that reported in May 2023.
In turn, this rate resulted from a 1.0% increase in imports of non-oil intermediate-use goods and an 8.9% decline in imports of intermediate-use oil products.
Imports of capital goods reached $5,401 million , which implied an annual increase of 8.0 percent.
In the January-May 2024 period, the value of total imports was 254,977 million dollars, an amount 3.4% higher than that observed in the same period of 2023. Non-oil imports advanced 7.4% at an annual rate and oil imports decreased 32.8 percent.
In the period January-May 2024, the structure of the value of imports was as follows : intermediate use goods, 75.1%; consumer goods, 14.7%, and capital goods, 10.2 percent.
Finally, in the first five months of 2024, the trade balance presented a deficit of $4,461 million . In the same period of 2023, the deficit was six thousand 563 million dollars.
Comment and follow us on X: @GrupoT21
