Imports and exports of goods from Mexico grew at double-digit year-on-year rates in March, the Inegi reported on Wednesday.

On the one hand, exports had an advance of 20.9% and reached 52,000.4 million dollars.

On the contrary, imports from Mexico were 51,801.7 million dollars, which represented a growth of 12.7 percent.

Thus, Mexico obtained a surplus of 198.7 million dollars in its trade balance.

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).

Meanwhile, the annual advance of exports of automotive products 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 the Mexican mix of export crude 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.

Imports and exports

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).