Mexico Posts Trade Surplus in March

Mexico registered a USD 1.03 billion trade surplus in March as higher shipments of manufactured and agricultural goods offset a decline in petroleum exports and increased imports.
Joana Taborda | 4/28/2014 5:10:57 PM
Exports rose 4.5 percent year-on-year to USD 33.314 billion, as non-oil sales advanced 6.9 percent, while oil shipments fell 11.1 percent.

In March, Mexico sold 1.133 million oil barrels per day, down from 1.276 million bbl/d in the previous month, but higher from 1.103 million bbl/d a year earlier. The average price stood at USD 93.14 per barrel, marginally unchanged from USD 93.13 in the previous month, but USD 11.07 less than in the same month last year.

Imports surged 7.2 percent on the year to USD 32.287 billion, boosted by a 9.1 percent increase in non-oil purchases. Imports of consumption goods fell 8.1 percent yoy, while purchases of intermediate and capital goods grew 10.3 percent and 8.2 percent, respectively. 

Considering the first three months of 2014, exports advanced 2.9 percent over a year earlier and imports rose at a faster 3 percent. The country’s trade deficit increased 16.7 percent to USD 1.19 billion.

Shipments to the US advanced 7.2 percent, boosted by auto sales, while exports to the rest of the world fell 2.2 percent. 

Mexico Posts Trade Surplus in March