Mexico's product exports grew at a year-on-year rate of 40.4% in August and posted a cumulative increase of 29.3% during the first eight months of the year, the National Institute of Statistics and Geography (Inegi) reported on Monday.

Consequently, they totaled $78,010.5 million in August and reached a record $549,397.6 million for the period.

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Mexican exports were driven in August primarily by non-automotive manufacturing exports—which surged 63.2%—a category that has seen a boom in computer equipment sales over the last two years.

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The largest increases were observed in exports of electrical and electronic equipment and appliances (122.3%), mining-metallurgical products (50.4%), plastic and rubber products (10.6%), food, beverages, and tobacco (10.0%), and machinery and specialized equipment for various industries (7.2%).

Meanwhile, automotive exports recorded a 2.2% year-on-year decline, resulting from a 1.0% drop in sales to the United States and a 7.8% decrease in sales to other markets.

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Original Note