Mexico Trade Balance Swings to Deficit

Mexico recorded a trade deficit of USD 725 million in February of 2016, compared to a USD 591.5 million surplus a year earlier and market expectations of a USD 400 million gap. Lower oil prices keep dragging exports down while imports increased for the first time in seven months.

Exports shrank 2.3 percent year-on-year to USD 29024 million, as oil sales dropped by 45.8 percent while non-oil grew by 1 percent. Within non-oil exports, those to the US increased by 4 percent, while those to the rest of the world fell by 12.4 percent. Exports of manufacturing products increased by 0.9 percent and agricultural goods by 26.6 percent. In contrast, non-automotive sales decreased 2.6 percent and mining exports fell by 54.6 percent.

Imports rose 2.2 percent to USD 29749 million, as purchases of non-oil products increased by 4.8 percent while oil purchases fell 25.7 percent. Imports of consumer goods dropped 2.3 percent while intermediate goods increased by 2.5 percent and imports of capital goods rose by 5.6.

Considering the first two months of the year, total exports decreased 4.8 percent from a year earlier while imports fell by 2.1 percent. 

Mexico Trade Balance Swings to Deficit

INEGI | Francisco Caeiro |
3/28/2016 2:53:43 PM