Mexican merchandise exports registered growth during 2021, their highest rise in 11 years, due to an effect of a low base of comparison due to the initial impact of the pandemic, according to data from the National Institute of Statistics and Geography (Inegi).

Shipments abroad registered an advance of 18.52% in 2021 compared to last year, for which they reached a total of 494 thousand 224.5 million dollars.

This result comes after a decrease of 9.47% in 2020. In addition, this increase is the highest since 2010, when exports rose 29.94 percent.

Oil exports were for 28 thousand 925.6 million dollars, that is, an increase of 65.4% in 2021, its highest increase since there are data from the institute.

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Non-oil exports advanced 16.5% to settle at 465 thousand 298.9 million dollars, its largest increase since 2010, when it climbed 29.12%.

In a broken down manner, shipments of manufactures totaled 436 thousand 75.9 million dollars, that is, an increase of 16.7% was observed, compared to last year, while

sales of the automotive sector advanced 13.8% and non-automotive sales were higher by 18.1%.

In its monthly comparison, in December 2021, total merchandise exports registered a slight decrease of 0.1%, the net result of a reduction of 8.05% in oil exports and an advance of 0.43% in non-oil exports.

On the other hand, merchandise imports reached 505 thousand 715.6 million dollars, an amount that implied an increase of 32.1% compared to last year.

In a disaggregated way, non-oil imports rose 28.5% and 71.5% in oil companies.

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Imports by type of intermediate good advanced 32.7%, while those of capital goods rose 21.8%.

Imports of consumer goods showed an increase of 43.9%.

Monthly, total imports showed a growth of 4.9%, which was derived from increases of 4.72% in non-oil imports and 5.99% in oil imports.

For 2021, the trade balance presented a deficit of 11 thousand 491 million dollars, which compares with the surplus of 34 thousand 13 million dollars reported in 2020.

This was derived from a decrease in the surplus of the balance of non-oil products, which went from 47 thousand 938 million dollars in 2020 to 13 thousand 435 million dollars in 2021, and an increase in the deficit of the balance of oil products , which went from 13 thousand 924 million dollars in 2020 to 24 thousand 926 million dollars in 2021.

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Original note