Automotive Weakness and Oil Slump Drive Decline in Mexican Exports
Mexican Feb exports fell 2.9% YoY ($49.28bn), hit by automotive (-15.2%) & oil (-24.4%) declines. US-bound shipments dipped slightly (-0.2%), while exports elsewhere fell sharply (-9.5%). Agri sales also down (-6.1%). Concerns over economy & US trade policy remain.
Concerns mount over economic headwinds and trade policy uncertainty despite resilience in US-bound shipments
Mexican merchandise exports registered a notable decline in February, raising concerns amid ongoing economic headwinds and persistent trade policy uncertainties linked primarily to the United States. Total exports reached $49.28 billion for the month, marking a 2.9 per cent contraction compared to the same period last year, according to data released by the national statistics agency, Inegi.
