Automotive industry boosts exports in May

Mexican exports

continued their growth last May due to the dynamism of manufacturing sales abroad, particularly in the automotive industry , according to recent data from the trade balance reported by the National Institute of Statistics and Geography (INEGI).

The value of merchandise exports in May 2017 was USD$35.466 million , 12.9% higher than the registered in the same period last year, the second highest rate since October 2012.

The increase in exports during the fifth month of the year was a result of a 13.8% increase in non-oil exports and a 3.5% drop in oil companies . Within the non-oil exports, foreign trade to the United States grew 12.6% and to the rest of the world grew 20.4%.

Foreign trade information from May 2017 indicates that there was a trade deficit of USD$1.79 billion , compared to the deficit of USD$442 million observed in the fifth month of 2016. For the first five months of this year, the trade balance showed a deficit of USD$2.971 million.

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