Mexico registered a surplus in its trade balance of 198.7 million dollars last March, a figure that compares with the deficit of 2,953 million dollars in the same month of 2021, the National Institute of Statistics and Geography (Inegi) reported on Wednesday.

Exports totaled 52,000 million dollars in March, 20.9% higher than the same period last year, said the statistical agency.

Oil sales grew 67.6% to 3,566.8 million dollars, while non-oil sales rose 18.4% to 48,433 million dollars, he explained.

"Within non-oil exports, those directed to the United States grew at an annual rate of 18.9% and to the rest of the world 16.2%," said Inegi.

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Likewise, imports totaled 51,801.7 million dollars in March, being 12.7% higher than that reported in the same month last year.

Oil purchases fell 13.8% year-on-year compared to the previous period, reaching 5,673.1 million dollars, while non-oil purchases increased 17.1%, totaling 46,128.6 million dollars.

In this way, in the first quarter of the year, Mexico registered a trade deficit of 4,794.6 million dollars after registering 132,145.6 million dollars in exports and 136,940.1 million dollars in imports.

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In 2021, Mexico had a trade deficit of 11,491.1 million dollars, a negative figure that compares with the surplus of 34,013 million dollars reported in 2020, a year in which both exports and imports fell due to the covid-19 pandemic. In 2019 the surplus was 5,409 million dollars, and in 2018 there was a deficit of 13,618 million dollars.

Trade has benefited from the renewed Treaty between Mexico, the United States and Canada (T-MEC), which entered into force in July 2020 after years of negotiations.

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