In his report, he pointed out that February has been a month of trade surpluses for the last six years, but this 2023 trade balance seems to have finally started to bear the cost of the so-called super-pesos, i.e. the misalignment of parity.. .would change. Trade was in deficit.
Coutiño pointed out that according to the National Institute of Statistics and Geography (Inegi), the value of merchandise exports reached $44,934 million, a figure made up of $42,662 million in non-oil exports and two $1,272 million oil companies.
Thus, total exports recorded an annual decline of 2.8 percent, the result of declines of 1.8 percent in non-oil exports and 19.2 percent in oil exports. Within non-oil exports, exports directed to the United States increased at an annual rate of 2.2 percent and exports directed to the rest of the world fell 17.8 percent.
In February 2023, the value of imported goods was $46,778 million, an amount that implied a 4.1 percent annual increase, driven by a 3.1 percent increase in non-oil imports and a 12.9 percent increase in oil companies.
Looking at imports by type of goods, there were annual increases of 15.8 percent for consumer goods imports, 0.1 percent for intermediate goods and 28.4 percent for capital goods imports.
Coutiño added that beyond February’s $1.8 million trade deficit, “of concern is that exports fell and imports rose, a sign that may reflect an exchange rate effect of restrictions in the former and stimulus in the second. Especially when it comes to imports for consumption”.
mgt/lma