Mexico's exports grow 18.8 pct in first half of 2022

MEXICO CITY, July 27 (Xinhua) -- Mexico's exports grew 18.8 percent year on year in the first half of 2022, driven by oil and manufacturing shipments, National Institute of Statistics and Geography (Inegi) figures showed Wednesday.

The value of exports reached 280.77 billion U.S. dollars between January and June, according to the monthly Merchandise Trade Balance report.

Imports grew 25 percent year on year in the six months to reach 293.71 billion U.S. dollars, for a trade deficit of 12.94 billion U.S. dollars.

Meanwhile, oil exports increased 59.9 percent year on year, largely due to high crude oil prices, according to the Inegi.

In June alone, the average price of Mexico's export crude stood at 108.98 U.S. dollars per barrel, 42.05 U.S. dollars higher than in June 2021.

In the meantime, manufacturing exports rose 17.3 percent year on year in the first six months to 243.93 billion U.S. dollars.

Mexico sends a large part of its exports to the United States, its neighbor and main trade partner.