The mexican exports of goods registered a year-on-year growth of 20.9% in March, to 52,000.4 million dollars, driven by oil sales, reported the inegi.

The result at annual rate was the second double-digit growth, with an increase of 27.8% in February.

But in March 2022, with seasonally adjusted figures, total merchandise exports reported a monthly decrease of 2.74%, product of the combination of a 3.93% decline in non-oil exports and a 15.15% rise in oil exports.

Conversely, the mexican imports totaled 51,801.7 million dollars in March, an advance of 12.7% year-on-year, with which Mexico obtained a surplus of 198.7 million dollars in its balance of trade.

With seasonally adjusted series, total imports had a monthly increase of 1.04%, the net result of an expansion of 17.40% in oil imports and a fall of 0.70% in non-oil imports.

By type of good, there were monthly increases of 10.48% in imports of consumer goods and 5.34% in capital goods, and a decrease of 0.85% in imports of intermediate use goods.

Considering year-on-year figures, foreign oil sales grew 67.6% in March, to 3,566.8 million dollars; while non-oil companies totaled 48,433.6 million, an increase of 18.4 percent.

Within the latter, agricultural exports amounted to 2,293.6 million dollars (+3.7%), extractive exports were 918.3 million (-5.7%) and manufacturing exports amounted to 45,221.6 million (+19.9 percent).

Within manufacturers, automakers rose 18.9% to 14,213.8 million dollars and non-automotive companies climbed 20.4% to 31,007.8 million.

The most important annual expansions were observed in exports of steel products (43.6%), food, beverages and tobacco (27.4%), machinery and special equipment for various industries (22.6%), automotive products (18.9% ) and electrical and electronic equipment and appliances (14.8 percent).

In turn, the annual increase in exports of automotive products was derived from increases of 16.1% in sales to the United States and 34.7% in those directed to other markets.

In March 2022, the value of oil exports was 3,567 million dollars. This amount was made up of 2,813 million dollars from sales of crude oil and 754 million dollars from exports of other oil products.

In that month, the average price of mexican mix Export crude oil stood at 100.29 dollars per barrel, a figure higher by 13.90 dollars compared to the previous month and by 40.58 dollars compared to March 2021.

As for the volume of crude oil exported, it stood at 0.905 million barrels per day in the reference month, a level lower than the 0.925 million barrels per day reported in both February 2022 and March 2021.

The value of agricultural and fishery exports in the third month of the current year was 2,294 million dollars, an annual increase of 3.7 percent.

The most important annual increases were recorded in exports of raw coffee beans (50%), citrus (40.9%), frozen shrimp (28.2%), avocado (24.1%) and mango (9.2 percent).

In contrast, the most relevant annual reductions occurred in exports of pepper (30.3%) and cattle (27.9 percent).

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