| | |  Business News 
Mexico's Exports Rise 23% in 2009
 MENAFN
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January 24, 2010
Mexico's National Statistics Institute, or Inegi, reported a smaller-than-expected trade deficit of $248 million in December as exports jumped 23 percent year-on-year to $22.94 billion, AP reported.
While petroleum exports surged 93 percent to $3.4 billion thanks to higher international oil prices, exports by the key manufacturing sector rose 15 percent to $18.57 billion.
The Bank of Mexico forecasts gross domestic product (GDP) growth between 2.5 percent and 3.5 percent this year, with private-sector economists widely expecting a 3.5 percent expansion as international trade recovers from the global crisis.
The labor market also showed clear signs of mending last month, with Inegi reporting that the unemployment rate fell to 4.8 percent from 5.3 percent in November, reaching its lowest level since December 2008.
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