CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
AT A GLANCE
LETTER FROM
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5
raised the prices of food, fertilizers,
energy and other commodities,
which combined with other factors
to raise global inflation to levels not
seen since the 1980s. In Mexico,
inflation closed 2022 at 7.82%, after
peaking at 8.70% in September. The
core index, which includes goods and
services, grew 8.35%, while non-
core inflation-made up of food and
energy-increased 6.27%.
Mexico's trade balance for 2022 was
a deficit of USD 26.42 billion, rising
from a deficit of USD10.94 billion
the year before. Within exports,
manufacturing rose 16.6%, while
imports rose across the board,
with a particularly strong 29.4%
growth in consumer goods. The
price of Mexico's export blend
of oil rose from an average of
USD64.60/barrel in 2021 to
USD89.26/barrel in 2022.
National government finances
were stable, thanks to higher tax
revenues and restrained current
spending. The budget balance
was MXN978.53 billion for the
year, equivalent to 3.4% of GDP, a
little higher than the 2.9% reported in
2021, due to interest rate increases
that affected financial costs in 2022.
Public-sector debt shrank from 50.8%
of GDP to 49.4%.
In 2023 the world's economy is ex-
pected to slow down due to restrictive
policies by central banks across the
globe, in an effort to bring inflation
back down to their long-term targets;
Mexico's economy is prepared, howev-
er, and should position itself to take ad-
vantage of the shift in US-China trade
relations to promote domestic and
international investment, refocus sup-
ply chains and production of goods
toward the United States instead of
Asia, and forge even closer trade ties
with our neighbor to the north.
Report on Opsimex operating
and financial results
The following are some remarks on
the key figures reported in our finan-
cial statements for the close of 2022,
which are attached to this report,
including the opinion of the Indepen-
dent Auditor.
Our country's
economy is
prepared,
however, and
should position
itself to take
advantage of the
shift in US-China
trade relationsView entire presentation