LatinNews Daily - 28 November 2024

*Mexico’s national statistics institute (Inegi) has reported its latest figures on the country’s trade balance which show a trade surplus of US$371m in October, up from a surplus of US$369m in October 2023 and a deficit of US$579m in September 2024. In October, exports totalled US$57.67bn, up 11.2% year-on-year, while imports were valued at US$57.30bn, up 9.7% on October 2023. Non-oil exports were up 13.5% year-on-year, while oil exports fell by 24.2%. Non-oil imports also increased by 12%, with oil imports down 18.3% on October 2023. In monthly terms, with figures adjusted for seasonality, exports were up 3.55% with non-oil exports increasing by 2.84% and oil exports up 22.60%. Imports were also up in monthly terms by 2.56%. Non-oil imports were up 2.74% as compared to the previous month, while oil imports fell by 0.24%. In the first ten months of 2024, Mexico registered a trade deficit of US$10.65bn, up from a deficit of US$10.30bn recorded in the first ten months of 2023.