Thursday , October 17 2019
Breaking News
Home / International Customs / Mexico / Mexico’s trade deficit widens to $1.57b in Nov
Mexico’s trade deficit widens to $1.57b in Nov

Mexico’s trade deficit widens to $1.57b in Nov

MEXICO: Mexico’s oil exports fell 50.2 percent from a year earlier in November, a month in which the country’s trade deficit totaled $1.57 billion, the National Institute of Statistics and Geography, or INEGI, said.

Total exports amounted to $31.02 billion last month, down 4.1 percent from November 2014, the INEGI said in a statement Thursday.

Oil exports plunged 50.2 percent to $1.57 billion, while non-petroleum exports rose 0.9 percent to $29.46 billion.

Imports totaled $32.59 billion in November, down 2.4 percent from the same month of 2014.

Petroleum imports came in at $2.32 billion last month, down 36.1 percent compared with November 2014, while non-petroleum imports totaled $30.28 billion, up 1.7 percent.

Mexico’s trade deficit widened to $13.53 billion in the year’s first 11 months, compared with a $3.13 billion trade deficit for the January-November 2014 period, the INEGI said.

Exports totaled $349.81 billion over that period, down 3.6 percent compared with the first 11 months of 2014.

Petroleum exports plunged 44.6 percent over that 11-month period to $22.22 billion, while non-petroleum exports rose 1.5 percent to $327.59 billion.

Over that same period, Mexico’s imports declined by 0.8 percent to $363.35 billion.

Petroleum imports came in at $30.61 billion in the January-November 2015 period, down 19.6 percent, while non-petroleum imports amounted to $332.73 billion, an increase of 1.4 percent over the first 11 months of 2014.

Mexico posted a trade deficit of $2.44 billion in 2014, up 106 percent from the deficit of $1.18 billion registered in the prior year, the INEGI said.