Mexico's City Exports Rise 2.3 Pct In 2019
Faizan Hashmi Published January 29, 2020 | 03:56 PM
Mexico's exports grew 2.3 percent in 2019 compared to the previous year, driven largely by an increase in manufactured goods to the United States, the National Statistics and Geography Institute (Inegi) said on Wednesday
MEXICO CITY, (UrduPoint / Pakistan Point News - 29th Jan, 2020 ):Mexico's exports grew 2.3 percent in 2019 compared to the previous year, driven largely by an increase in manufactured goods to the United States, the National Statistics and Geography Institute (Inegi) said on Wednesday.
Imports, on the other hand, dropped by 1.9 percent in 2019, pulled down by a 0.8-percent decrease in the purchase of intermediate goods from abroad, according to the Inegi's merchandise trade balance report.
The resulting trade surplus of 5.82 billion U.S. dollars for 2019 contrasted sharply with a trade deficit of 13.618 billion dollars registered in 2018, the agency said.
Exports of manufactured goods grew 3.4 percent last year, helping to compensate for a 15.1-percent plunge in oil shipments, said the Inegi.
Non-oil exports to the United States rose by 4.
7 percent in 2019, but dipped 1.1 percent to other markets, it said.
Separately, Mexico's Banorte financial group noted that Mexico has not seen an annual trade surplus since 2012.
However, "we believe that the figures, despite being positive for gross domestic product (GDP) in the fourth quarter of 2019, continue to suggest a still modest panorama for (economic) activity in the coming months," said Banorte.
Most growth forecasts for 2019 indicate zero expansion in GDP, with several experts even projecting a small contraction amid a slowing global economy.
Preliminary economic growth figures for 2019 are to be released on Thursday. As Latin America's second largest economy after Brazil, Mexico could see a 0.8-1.8 percent growth, according to the central Bank of Mexico.
Recent Stories
PM Shehbaz asked to extend hand to Imran Khan, India
BISE Hyderabad to announce HSC-Il result exams on April 25
ARI calls for comprehensive measures to curb tobacco use
DWE extends training to 300,000 workers of 350 industries in twin city
Stone Lifter Martin Licis showcases skills at Haripur cultural sports competitio ..
WASA disconnects 144 connections of defaulters
Govt committed to double exports' volume in 5 years: PM
Dacoit killed during conflict with locals
Vietnam hails Gandhara Corridor project for cultural tourism promotion
Price Control Magistrates conduct crackdown against price hike
14 stolen bikes recovered, gang leader arrested
GCWU Sialkot VC meets Punjab governor
More Stories From Business
-
Jam Kamal leads efforts to enhance IT Capacity for trade monitoring
1 hour ago -
SECP pushes adoption of IFRS 17 by Insurance sector
2 hours ago -
PSX turns bullish, gains 692 more points
2 hours ago -
RTO Peshawar makes historic seizure of illegal cigarettes worth Rs 162.6 mln
2 hours ago -
LCCI for deferment of SROs hurting businesses
2 hours ago -
Three schemes approved
2 hours ago
-
PCJCCI keen to boost Peach industry in Swat
2 hours ago -
Rupee sheds 02 paisa against dollar
31 minutes ago -
IPO to celebrate World Intellectual Property day on 26th April
2 hours ago -
Iranian president's visit to help ensure mutual prosperity: state minister
3 hours ago -
Soyabean, palm oil imports grew 53.07%, 28.55% in 09 months
3 hours ago -
German forecast to offer signs if ailing economy on the mend
21 minutes ago