Exports went up 11.5 percent year-on-year to USD 35.61 billion in June, marking the eighth consecutive month of annual gain. Non-oil sales, which account for 95 percent of total exports, increased 11.5 percent and exports of oil grew 10.4 percent. Within non-oil exports, sales of manufactured products rose 11.3 percent, driven by exports of automotive products (17.8 percent). In addition, sales rose for agricultural and fisheries (11.1 percent), and mining products (26.8 percent).
Exports to the United States grew 11 percent, accounting for more than 80 percent of total non-oil shipments. Auto sales to the US rose 16 percent and exports of other products advanced 8.6 percent. Sales to the rest of the world increased 13.7 percent, with autos jumping 27.5 percent and other products rising 8.5 percent.
Imports advanced at a slower 9.5 percent to USD 35.55 billion, boosted by higher purchases of intermediate goods (10.8 percent) and consumption goods (11.7 percent). By contrast, imports of capital goods fell 2.2 percent.
In the first half of the year, the tarde deficit narrowed to USD 2.91 billion from USD 7.05 billion in the same period of 2016, as exports rose 10.4 percent to USD 197.53 billion while imports increased at a slower 7.8 percent to USD 200.44 billion.