The agri-industrial commercial balance had a $75.2 million, in contrast to $14.3 million shortage over the same period in 2015.
Mexico recorded a $2.1 billion agri-food surplus between January and August 2016 in its commercial balance with the world, resulting from the commercial promotion, opening of markets and the outstanding safeness and health standards of food produced in Mexico, stated The Mexican Ministry of Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA).
Based on statistics by the Bank of Mexico, the agri-food surplus grew by 66.6%, compared to the same period of 2015.
Regarding the agricultural sector, it presents annual growth within its 59% surplus, valued at $2 billion.
On the other hand, the agri-industrial commercial balance had a $75.2 million, in contrast to $14.3 million shortage over the same period in 2015.
Agri-food exports peaked at $19 million (4.9%). Agri-industrial exports totaled $9.74 billion, a 10.6% annual rate increase.
The agri-industrial sector reported sales worth $9.43 million, similar to the sale records of 2015.
Agri-food exports are expected to reach a $30 billion net worth by the end of 2016, as well as increasing the surplus in the commercial balance.
You might also be interested in:
Chinese firms continue to expand aggressively abroad, competing fiercely with incumbent heavy weights in a growing number of industries. China expert Shaun Rein identifies the key drivers, predominant sectors and human resource implications of unprecedented international growth by state-owned and privately held Chinese corporations in an interview with IRC Institute.
By George Walther-Meade