LatinNews Daily - 30 January 2023

In brief: Mexico’s trade deficit up in 2022

* Mexico’s national statistics institute (Inegi) has released new figures which show that Mexico registered a 2022 trade deficit of US$26.4bn, a significant increase on the US$10.9bn deficit reported in 2021. This was due to a decrease in the surplus of the balance of non-oil products, which dropped from US$13.7bn in 2021 to US$8.5bn in 2022, and a larger deficit in the balance of oil products, which went from US$24.6bn in 2021 to US$34.9bn in 2022. In the same report, Inegi stated that Mexico had a trade surplus of US$984m in December 2022, compared to a surplus of US$603m in the same month of the previous year. In December 2022, exports totalled US$49.3bn – up 3.4% year-on-year, while imports totalled US$48.3bn, a yearly increase of 2.6%. 

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