Non-oil exports fell 3.5% and, within these, those directed to the United States decreased at an annual rate of 2.6% and those channeled to the rest of the world did so by 7.7%.
This decrease stems from the fall in automotive exports to the United States, which fell 19.2% in October, at an annual rate. But the reduction to the rest of the world in the same category was 34.8%.
External sales of automotive products represent 25% of Mexico’s non-oil exports and hence the great impact caused by their variations in the total count.
At an annual rate, automotive exports fell a total of 21.8%. This sector is being affected by the global shortage of semiconductors.
The value of oil exports doubles
The total value of exports reached 41,957 million dollars in October 2021. With series adjusted for seasonality, exports grew 0.18% compared to the previous month; in which oil companies increased 11.43% and non-oil companies fell 0.57%.
Thus, oil exports registered an increase of 105.9% compared to October 2020.
Non-oil imports advance 21.2%
Imports grew 25.1% in October, compared to the same month of 2020, with oil imports showing the greatest relative increase, growing 72.8% annually.
However, the value of non-oil merchandise that was imported into the country reached 39,979.7 million dollars, presenting an annual advance of 21.2%.
Finally, imports of capital goods reached 3,538 million dollars, which implied an annual increase of 21.7% for the reference month.
