Registers the Trade Balance Surplus of 6,115.7 Million Dollars: Inegi
Mexico City. For the third consecutive month, the trade balance registered an unprecedented surplus, according to the records of the National Institute of Statistics and Geography (Inegi). In August, it exceeded the records of June and July 2020, adding 6,115.7 million dollars, the highest of the record since 1991.
The data is part of a fall in foreign trade due to the Covid-19 pandemic. Although the total of merchandise flows between Mexico and other markets is at levels similar to those of last March, in sum they fell 14.84 percent, compared to August 2019.
On the export side, they totaled 36.979 billion dollars during August, 7.7 less than in the comparable period of 2019. Most of the items were reduced compared to last year. Sales of automotive manufacturing did so in 11.9 percent, those of other manufactures in 6.1 percent.
Oil exports fell 11.4 percent, even agriculture subtracted 5 percent from last year. The exception was the extractive of all raw materials, except oil, which increased 41.7 percent compared to August 2019.
As for imports, they fell 22.2 percent during August. In sum, goods from abroad were bought for an amount of 30,863.3 million dollars. Every item was impacted.
Oil imports fell 38 percent compared to August 2019, non-oil imports did so by 20.5 percent. Consumer goods fell by 34.5 percent, intermediate goods by 20.4 percent, and capital goods by 19.8 percent.
In sum, the cumulative fall in foreign trade during the first eight months of 2020 has implied a 16.6 percent reduction in Mexico’s sales abroad and a more pronounced 20.7 percent drop in imports, Inegi exhibited.