Mexico's product exports grew at a year-on-year rate of 14.7% in July, to 54,788.6 million dollars, driven by manufacturing, Inegi reported on Tuesday. Imports amounted to US$54,860.5 million, an increase of 13.3%, leaving the country with a deficit of US$72 million in its trade balance. Mexico has developed its manufacturing sector with the dual objective of taking advantage of lower manufacturing costs and its common border with the United States, its main export trading partner. In the first seven months of the current year, Mexico sold manufactured products abroad for a value of 49,744.6

In Mexico, spending by companies on capital goods and infrastructure grew 4.6% at an annual rate in January, above analysts' forecasts, which could be stimulated in February and March due to the lower cost of imported machinery as a result of a strong exchange rate. Alejandro Cervantes, an analyst at Banorte-Ixe, stated that " investment in machinery and equipment will most likely present a better performance during the first quarter of the year due to the significant appreciation that has been observed in the Mexican currency". He recalled that imports of capital goods are very sensitive to