Mexico Trade Deficit Widens to 7-Month High

Mexican trade deficit increased to USD 2800 million in August of 2015 from a USD 1197 million deficit a year earlier and way above market expectations, as exports declined at a faster pace than imports.

Exports shrank by 6.8 percent to USD 31,030 million compared to USD 32,287 million in August of 2014, as both oil and non-oil sales dropped by 48.3 percent and by 1.6 percent, respectively. Whithin non-oil exports, those to the US increased slightly by 0.3 percent, while those to the rest of the world declined by 10.3 percent. The sharp increase in sales of agricultural products (+25 percent), was not enough to offset the decline in exports of mining (-2.4 percent) and manufacturing (-2.2 percent).

Imports fell 1.9 percent to USD 33,830 million from USD 34,484 million a year earlier, as purchases of non-oil products went down by 2.9 percent, while purchases of oil products rose 7.1 percent. When considering imports by type of goods, imports of intermediate goods showed an annual reduction of 5 percent, however imports of consumer goods and capital goods recorded annual increases of 9.5 and 5.6 percent, respectively.

On a seasonally adjusted monthly basis, exports declined by 6.6 percent and imports by 3.5 percent.

So far this year, Mexican trade deficit was recorded at USD 9,120 million, as exports fell by 2.8 percent and imports by 0.2 percent.

Mexico Trade Deficit Widens to 7-Month High

INEGI | Joana Ferreira |
9/25/2015 2:32:53 PM