INSUBCONTINENT EXCLUSIVE:
Total exports reached $49.28 billion while imports dropped more sharply by 8.3% to $47.07 billion.The export decline stems primarily from
significant drops in automotive and petroleum sectors
Automotive exports plummeted 15.2%, with shipments to the United States falling 10.7% and exports to other markets crashing 40.2%.Mexico
The US market receives about 84% of Mexican vehicle exports.Rogelio Garza, president of the Mexican Automotive Industry Association, blames
rising US inflation for the slowdown
US inflation reached 3% in January, up from 2.4% in September.Petroleum exports totaled $1.99 billion in February
The average price for Mexican crude stood at $68.99 per barrel, up $1.42 from January but down $2.69 from February 2024.Mexican Exports
Slump 2.9% as Auto Industry Faces U.S
the 957,000 barrels recorded in February 2024.Agricultural exports declined 6.1% to $2.18 billion
Cattle exports suffered the most with a 73.2% drop
Extractive exports bucked the trend, growing 17.4% to $0.87 billion.The trade figures arrive amid escalating North American trade tensions
2.Mexico responded by raising import tariffs on textile products to 35%
These defensive measures will remain in effect until April 2026.Despite the February downturn, Mexico maintains a trade surplus of $2.21
billion, reflecting the steeper decline in imports than exports.
