Mexico Trade Deficit Narrows in July


Mexican trade gap decreased to USD 0.98 billion in July of 2014 compared with a USD 1.4 billion shortfall a year earlier. Exports rose at a faster pace than imports, boosted by a surge in auto sales to the United States.

Exports rose 4.5 percent year-on-year to USD 33.7 billion. Oil sales fell 19.4 percent while non-oil shipments increased 8.2 percent, driven by sales of commodities (44.6 percent), agricultural products (15.9 percent, mainly cattle, fish, fruits, nuts and honey) and manufactured products (7.6 percent, namely scientific equipment, automotive, plastic and rubber products, food and beverages and machinery and industrial equipment). Shipments to the United States increased 10.3 percent, driven by a 22.2 percent surge in auto sales while exports to other countries showed no annual change.

Imports advanced by an annual 3.1 percent to USD 34.7 billion in July. Purchases of capital goods rose the most on the year (4.2 percent), followed by imports of intermediate goods (3.1 percent) and consumption goods (2.5 percent).

Mexico Trade Deficit Narrows in July


Joana Taborda | joana.taborda@tradingeconomics.com
8/27/2014 2:30:01 PM