In Mexico City, according to data from the National Institute of Statistics and Geography (INEGI), imports in Mexico, especially of consumer and capital goods, exceeded exports by 4,314.7 million dollars.
According to the report on Mexico’s merchandise trade balance, in January, the total value of merchandise exports reached 41,957 million dollars. This figure includes 39,236 million dollars in non-petroleum exports and 2,721 million dollars in petroleum exports. Compared to the previous year, total exports decreased by 1.5%, with a decrease of 1.7% in non-petroleum exports and an increase of 0.2% in petroleum exports.
Within the set of non-petroleum exports, those destined for the United States experienced a 1.5% decrease compared to the previous year, while those sent to the rest of the world decreased by 2.3%. This decline is mainly attributed to the manufacturing sector, which experienced a 2.0% decrease, especially driven by the 6.5% decrease in automobile exports in January 2024 compared to the same month of the previous year.
In January 2024, seasonally adjusted, total merchandise exports experienced a monthly reduction of 2.53%. This change is attributed to a decrease of 3.01% in non-petroleum exports and an increase of 5.70% in petroleum exports.
According to data provided by INEGI, the value of merchandise imports reached 46,272 million dollars, representing an annual decrease of one percent. This figure was due to a 38 percent reduction in imports of petroleum products and a four percent increase in non-petroleum imports. Analyzing imports by type of goods, there was an annual decrease of 4.0 percent in imports of intermediate goods, an annual increase of 1.5 percent in consumer goods imports, and a 21.6 percent increase in capital goods imports.
Considering seasonally adjusted data, total imports recorded a monthly increase of 1.47 percent, driven by increases of 0.46 percent in non-petroleum imports and 16.53 percent in petroleum imports. By type of goods, there were monthly increases of 3.29 percent in consumer goods imports, 0.86 percent in intermediate goods, and 3.31 percent in capital goods imports.
With seasonally adjusted figures, Mexico’s trade balance showed a deficit of 302 million dollars in January 2024, after a significant surplus at the end of 2023 of 1,659 million dollars.
