During the first nine months of 2024, the balance of the trade balance register a deficit of 11 thousand 17 million dollarsan increase of 10.99% with respect to the deficit of the same period of 2023.
These figures are explained, mainly, by the oil balance with a negative balance of 7 thousand 699 million dollarswhile the non-oil balance shows a deficit of 3 thousand 317 million dollars.
On the other hand, the deficit in the oil balance has been reduced since 16 thousand 602 million dollars last year.
Regarding the merchandise trade balance for September, total exports fell 0.03% at an annual rate, after falling 1.04% in August.
The weakness was concentrated in oil exports, which show an annual drop of 44.90%, being the fourth month of contraction at an annual rate and the largest drop since May 2020.
Weakness was observed in automotive exports, which fell 7.44% annually, accumulating two consecutive months of decline and being the largest drop since February 2023.
Exports show a growth of 3.17% compared to the same period in 2023.
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