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LatinNews Daily - 28 April 2021

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In brief: Mexico sees trade deficit despite increased exports

* Mexico’s national statistics institute (Inegi) has released new trade statistics, which show that Mexico recorded a US$3bn trade deficit in March, compared with a US$3.34bn trade surplus in March 2020. Exports in March totalled US$43bn, up 12.2% on a year earlier, but this was offset by a 31.4% increase in imports to US$46bn. The value of trade in oil-related products increased markedly, with the value of oil-related exports growing 70.8% (compared with 10.2% for non-oil exports); meanwhile oil-related imports surged 104.7%. In seasonally adjusted terms, total exports grew 4.3% in March compared with February, while imports increased by 18.35%. In January-March this year, Mexico recorded a US$1.56bn trade deficit, with exports growing 3% year-on-year while imports increased 8.3%.