The National Institute of Statistics and Geography (Inegi) released Mexico’s merchandise trade balance corresponding to June 2024, which showed a deficit of 1,037 million dollars (million dollars) , a balance that is compared to the surplus of 58 million dollars in the same month of 2023.
This deficit balance is compared to the surplus of 1,991 million dollars reported in May. Between May and June, the decrease in the trade balance originated from a reduction in the balance of non-oil products – which went from a surplus of $2,053 million in May to a deficit of $328 million in June. and an increase in the deficit in the balance of oil products – which went from 62 million dollars to 709 million dollars, in that same comparison.
In the first six months of 2024, the trade balance presented a deficit of $5,498 million. In the same period of 2023, it registered a deficit of six thousand 505 million dollars.
Regarding exports , their value in June 2024 was 48,871 million dollars, an amount lower by 5.7% than the value of the same month of 2023, the result of a decrease of 4.4% in non-oil exports and 26.8% in oil companies.
Likewise, exports directed to the United States decreased 5.3% at an annual rate and those channeled to the rest of the world, 0.1% in the sixth month of the year.
In the period January-June 2024, the value of total exports totaled 299,387 million dollars , which meant an annual growth of 2.6% under the following structure: manufactured goods, 89%; petroleum products, 5%; agricultural goods, 4.3%, and non-petroleum extractive products, 1.7 percent.
Meanwhile, the value of merchandise imports was 49,908 million dollars, which represented an annual decrease of 3.6 percent. Imports of consumer goods were 6,718 million dollars, an annual decline of 4.8%; those of intermediate use goods were worth 38,345 million dollars, 3.1% less than June 2023; Imports of capital goods reached $4,844 million, which implied an annual reduction of 5.6 percent.
The Inegi reported that the accumulated value of total imports in the first six months of the year was 304,885 million dollars , an amount higher by 2.2% than that observed in the same period of 2023.
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