Exports rose 2.2 percent year-on-year to USD 40430 million in August, as non-oil exports increased 4.6 percent driven by higher sales of manufacturing (3.7 percent), in particular automotive products (9.7 percent), mining metallury (7.2 percent), food, alcoholic & beverages (5.5 percent), professional & scientific equipment (3.2 percent), and machinery & equipment for industries (2.9 percent). In addition, sales of agricultural products jumped 35.6 percent, boosted by vegetables (160.5 percent), avocado (66 percent), onion & garlic (33.6 percent), pepper (27.4 percent) and mango (10.8 percent). Also, sales of mining went up 1.4 percent. Oil exports declined 29.1 percent. The country exported 1.082 million barrels of crude oil per day, lower than 1.181 million barrels a year earlier while the price was USD 50.37 per barrel, $13.79 below the price in August 2018.
Non-oil exports to the US advanced 4.1 percent, as both auto sales (8.4 percent) and others (1.8 percent) increased. Sales to the rest of the world rose 6.8 percent.
Imports fell 5.9 percent to USD 39655 million, due to lower purchases of intermediate goods (-3.7 percent), as both non oil (-1.8 percent) and oil (-21.4 percent); consumption goods (-11.9 percent), of which oil (-24.5 percent) and non-oil (-5.9); and capital (-14 percent).
On a seasonally adjusted basis, Mexico trade surplus widened to USD 1690 million in August from USD 653 million in July, as exports went up 2.85 percent and imports increased at a softer 0.10 percent.