MEXICO CITY: Mexico’s factory-made exports rose in April, rebounding from a three-month slump, data showed on Wednesday, while non-oil consumer imports fell in a sign of weaker domestic spending in Latin America’s No. 2 economy.
Manufactured exports rose nearly 3.1 percent in April from March in seasonally adjusted terms, the national statistics agency INEGI said. Auto exports jumped 10.2 percent while other factory-made goods dipped 0.3 percent, month-on-month.
Out of Mexico’s total exports of $30.42 billion in April, $27.42 billion were manufactured goods, an INEGI press release said. Mexico exports mostly to the United States, and many shipments are parts used in American factories. In annual terms, April’s factory exports fell 7 percent compared with a year earlier, underscoring softer US demand for Mexican goods. Last week, the government dialed back its economic outlook for growth this year, pointing to weak US industrial output.
Non-oil consumer imports fell 2.9 percent in April compared with March, dropping for the second month in a row in a sign domestic consumption that has helped buoy the Mexican economy could be flagging. Mexico posted a $1.953 billion trade deficit in April when adjusted for seasonal swings. In non-seasonally adjusted terms, Mexico posted a trade deficit of $2.08 billion.
