viernes, 26 de abril de 2013

Mexico's trade account in the first quarter...

What's striking about the first quarter trade account statistics is that automotive exports are the only major export category that grew. Oil export revenues were 10.6% less than in the first quarter of 2012; agricultural export revenues were 4.0% less; extractive, 15.7% less: and non-automotive manufactured exports, 2.0% less. In contrast, automotive export revenues were 6.9% higher - even though export sales in units were down 3.8%.

Imagine for a moment that automotive export revenues remained at the same level as in the first quarter of 2012. This year's US$1.11 billion trade account deficit in the first quarter would have more than doubled, to US$2.53 billion.

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