Mexico City.- Mexican exports registered their biggest drop in 13 months after contracting 5.84 percent at a monthly rate last February, to a total value of 47 thousand 98 million dollars, according to seasonally adjusted data from Inegi.
Said setback was due to the setbacks of 12.61 percent in oil merchandise and 5.42 percent in non-oil merchandise.
Among the large components of the non-oil export sector, the contraction of 6.01 percent in manufacturing stood out -which generate 88.94 percent of total exports- hand in hand with the decline of 16.02 percent in the automotive industry, in both cases its worst result in 13 months.
In contrast, foreign sales of the agricultural branch increased 5.60 percent.
For their part, imports decreased 0.22 percent and totaled 50 thousand 635 million dollars.
When making the difference between the value of exports and imports, the balance of the country’s trade balance resulted in a deficit of 3 thousand 537 million dollars in February, an imbalance 4.9 times greater than that registered in the past month.
In addition, Mexico accumulated 22 consecutive months with a deficit result in its trade balance.
In its annual comparison, the country’s exports decreased 2.99 percent compared to January 2022. Foreign sales of the oil sector sank 18.67 percent and non-oil sales 1.91 percent.
Within the manufacturing sector, the extractives decreased 11.55 percent annually and the manufacturing ones 2.23 percent, while the agricultural ones rose 11.46 percent.
