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Economy & Business - July 2020

ECONOMIC HIGHLIGHTS

Agricultural exports: On 18 June Mexico’s agriculture & rural development ministry (Sader) released figures showing that despite the coronavirus (Covid-19) pandemic, Mexico’s agri-food sector trade surplus registered a 11.68% increase in the first four months of 2020 compared with the same period in 2019. In a report, Sader wrote that total agri-food exports, which include livestock and agro-industrial products, exceeded US$14.09bn over that period, making for a trade surplus of US$4.84bn, “which reflects that the sector’s dynamic was not affected over that four-month stretch”. The result was driven by a 4.77% year-on-year rise in agro-industrial exports to a total of US$6.77bn and by the sale of vegetables, fruits, and drinks which together represented 60% of total exports. Amongst these products, highlights include avocados, which registered a 24.77% sales increase to a total US$1.29bn, and tequila and mezcal, which saw a 35.21% rise to a total value of US$738m.

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