The Commercial
The external context has affected the state of the Mexican companies. The strong fall observed in the exports implied an abrupt fall of the income of the companies that cannot support with facility. The external accounts have been seen noticeably affected by the crisis. To the deterioration of the trade balance and the one of nonfactorial services the fall in the volume of remittances was added to him. In 2008, Mexico underwent a fall in the remittances of 3.8% in relation to the volume received in 2007, when totalizing US$ 25,145 million. The perspective for the present year anticipate the continuity of the reduction in the volume of the same. Thus it is that Mexico suffered in 2008 an increase in the external deficit.
The deficit of current account reached to the 1.4% of the GIP when accumulating red of US$ 15,527 million. The positive data in which to the external accounts it talks about contributes the reduction of 11.7% in the commercial deficit of the month of January in relation to the same month of the 2008. The reduction in the commercial deficit responds to a fall in the volume of external commerce of Mexico. The exports were reduced in a 31.5%, whereas they did it to the imports in a 30%. The increase of the added deficit of current account to expansive monetary policy, affects the exchange market bringing about the depreciation of the Mexican currency. It is so from the month of August of 2008, the Mexican peso is lost a third of its value. Towards end of the month of August of 2008 the dollar in Mexico quoted to $ 10,28. At the moment it does to $ 14.93 and in the market it is speculated on with the continuity of exchange depreciation. Before the continuous and risky weakening of the type of change, the Bank of Mexico has left to take part in the currency market with the intention of propping up the value of the Mexican peso.
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