Mexico surge outlook improves on exports

Mexico surge outlook improves on exports

The outlook for Mexico's economy improved due to stronger factory exports in the first quarter as well as a more upbeat tone on trade negotiations with the USA, as a top finance ministry official told on Monday.

Luis Madrazo, finance Ministry Chief Economist told that Mexico's exports, excluding crude that has been affected by lower output by state-run crude company Pemex, headed north 9.2% during the first quarter from last year, which is the strongest pace in more than two years.

Compared to other Latin American economies, producing more raw materials, Mexico exports are mostly represented by manufacturing goods. Mexico sends approximately 80% of its exports to the USA.

On Monday, the finance ministry revised its official 2017 surge estimate upward ro a range of 1.5%-2.5% after data disclosed that the country’s economy shrugged off fears that Donald Trump's policies would affect investment and exports.

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