Tourism Compensates Mexico’s Trade DeficitBy Elliot Bullman
Between January and October of 2017, the surplus of the tourist balance of Mexico increased 14.3 percent over the same period last year, to settle at 8 thousand 706 million dollars.
According to data from the Bank of Mexico, from January to October 2017 the surplus of the tourism balance compensated for 78 percent of the total trade deficit of the country.
According to experts, the increase in the import of oil has been offset by the surplus of trade in manufactures, coupled with an increase in the arrival of travelers from other countries and the decline in outgoing people leaving.
This reveals the importance of tourism for Mexico's accounts. Travelers increased by greater connectivity and promotion in the United States and have not lost much strength as expected by the arrival of Donald Trump.
Between January and October of 2017, the surplus of Mexico's tourism balance increased 14.3 percent compared to the same period a year ago, standing at $8.7bn dollars.
On the other hand, the trade balance from January to October 2017, which includes the declining oil sector, produced a deficit of $11.1bn dollars.
- Spain and Mexico’s Trade Relations Curdle over Manchego Dispute
- Cape Town Water crisis: 'Day Zero' Draws Near
- MORGAN STANLEY: Here are the 6 internet stocks to bet on in 2018
- Ford announces $11B investment, 40 electrified vehicles by 2022 at Detroit Motor Show
- Automobile Revenues will fall 40% due to Electric and Autonomous Vehicles
- Mexico debuts its best startups for 2018 at CES
- Inside the Secret Society Running the World of Cryptocurrency
- Opinion: Who Will Profit Off the Next Crash?
- This is how Jeff Bezos will support the 'dreamers'
- Oil Reaches $70 a Barrel for First Time in Three Years
- Peso predicted to make comeback in 2018: Bloomberg
- Chihuahua´s governor denounces Government reprisals for PRI corruption investigation