Mexico Posts Trade Deficit in July on Rising Imports

In July of 2013, Mexican trade balance turned into a deficit of USD 1437 million, from USD 409 million deficit in the same month last year, as higher demand from the US was not enough to offset a sharp rise in imports.

In July of 2013, exports increased to 32.2 billion USD, from 30.2 billion USD in the same month last year. Oil exports accounted for USD 27.9 billion, up by 13.3 percent year-on-year. Non-oil exports increased 5.3 percent yoy, mainly due to a 9.5 percent increase in mining, which offset a 6.3 percent drop in exports of agricultural products. 

Non-oil exports to the United States increased 7.1 percent yoy while shipments to the rest of the world shrank by 1 percent. 

In June of 2013, imports rose to 33.6 billion USD, from 30.7 billion USD a year earlier. Oil imports increased 13.3 percent year-on-year while non-oil imports rose 9.2 percent. By commodity, imports of consumer and intermediate goods rose 15.6 percent and 8.4 percent respectively, while those of capital goods increased 10.7 percent.

In the first seven months of 2013, both exports and imports showed annual increases of 1.4 percent and 4.3 percent, respectively, resulting in a deficit of USD 3.3 billion.

Mexico Posts Trade Deficit in July on Rising Imports

Joana Taborda |
8/26/2013 2:29:49 PM