After two months of contractions, in October 2024 and with figures adjusted for seasonality, total merchandise exports registered a growth of 3.55%, compared to the previous month, which represents a recovery and the best level of the last three months. according to information published by the National Institute of Statistics and Geography (Inegi).
The monthly behavior of exports was due to increases of 2.84% in non-oil exports and 22.60% in oil exports.
In the tenth month of the year, total imports showed a monthly increase of 2.56%, which also represents a recovery, since in September a monthly drop of 5.7% was recorded.
The monthly performance of imports was derived from the combination of a 2.74% advance in non-oil imports and a 0.24% decline in oil imports. By type of good, there were monthly increases of 3.71% in imports of intermediate use goods and 1.10% in capital goods. Imports of consumer goods decreased 2.37%.
Annual behavior
Compared to October 2023 and with original figures (without seasonal adjustment), the value of merchandise exports reached 57,671 million dollars, a figure that was made up of 55,288 million dollars of non-oil exports and 2,383 million dollars of oil exports. .
Thus, total exports reported an annual growth of 11.2%, this is the highest increase in the last three months and was due to a 13.5% increase in non-oil exports and a 24.2% reduction in oil exports.
Within non-oil exports, those directed to the United States advanced 13.9% at an annual rate and those channeled to the rest of the world, 11.6%.
On the import side, last October they reached a value of 57.3 billion dollars, an amount that implied an annual increase of 9.7%, it is also the highest annual increase in the last three months.
This was a reflection of the combination of a 12% increase in non-oil imports and a 18.3% drop in oil imports. When considering imports by type of good, there were increases of 3.1% in imports of consumer goods, 11.6% in intermediate use goods and 5.8% in capital goods.
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