Mexico Posts Trade Deficit in May
Mexico´s trade balance recorded a deficit of $470 million in May, as imports rose and exports declined, the statistical office INEGI reported on June 26th. A year earlier, the country reported a $334 million surplus.
6/26/2013 2:47:23 PM
In May, Mexico´s exports were worth $32836 million of which $29186 million accounted for oil exports. On a year over year basis, exports decreased 0.9 percent mostly due to a drop in shipments of mining products and oil, 20 percent and 16 percent respectively. Shipments of agricultural products decreased by 4.9 percent. On the other hand, manufacturing exports increased 2 percent to $27680 million, with automotive exports rising 15 percent, while non-automotive exports declined 3 percent.
In May, Mexico´s imports were worth $33306 million, a rise of 1.5 percent from May of 2012. Imports of oil decreased 13 percent and non-oil imports increased 3.5 percent. By commodity, imports of consumer goods rose only 0.1 percent, intermediate goods 1.7 percent and capital goods 2 percent.
In the first five months of 2013, Mexico recorded a trade deficit of $2718 million.