Mexico posted a $1.6 billion trade deficit between January and October, down 48.2 percent from the same period of 2013, the National Institute of Statistics and Geography (INEGI) said on Wednesday.
Mexico’s exports were valued at $331.1 billion, up 4.7 percent from the first 10 months of last year, while its imports amounted to $332.7 billion, up 4.2 percent, INEGI said in a statement.
Oil exports totaled $37.3 billion between January and October, down 9.9 percent, and non-oil exports amounted to $293.7 billion, up 6.9 percent.
Mexico posted a trade surplus of $143 million in October, compared with a $135 million trade deficit in the same month of 2013.
Exports in October came in at $37.1 billion, a 5.7 percent increase from the same month of last year, while imports totaled $36.9 billion, up 4.9 percent.
Oil exports last month plunged 21 percent year-on-year to $3.4 billion due to lower prices and a lower volume of crude exported, but non-oil exports rose 9.5 percent to $33.7 billion.
Mexico posted a $1.2 billion trade deficit in 2013 after registering an $18 million trade surplus in 2012.