Mexico's exports grow 18.9 pct from January to August
Sep 28, 2022
Mexico City [Mexico], September 28: Mexico's exports grew 18.9 percent year-on-year between January and August, driven by oil and manufacturing shipments, the National Institute of Statistics and Geography said Tuesday.
Exports reached 377.95 billion U.S. dollars in value in the first eight months of the year, according to the monthly trade balance report.
However, imports rose 24.1 percent in the same period to reach 402.35 billion dollars, leaving a trade deficit of 24.4 billion dollars.
Despite the good trade results, the general outlook is complicated, Mexico's Banorte financial group said in comments on the latest figures.
"Overall, we expect some dynamism to prevail in the near term, with the effects of a slowdown in demand likely having a bigger impact toward the end of the year or early 2023," Banorte said.
Mexico's economy, the second largest in Latin America after Brazil, grew 4.8 percent in 2021.
Source: Xinhua
