Mexico's trade deficit narrowed to $0.9 billion in October 2016 compared to $1.5 billion a year earlier and below market expectations of a $1.7 billion gap, as imports fell more than exports.
Exports decreased 4.4 percent to USD 35.59 billion as non-oil sales declined 4.9 percent while oil sales increased 4.4 percent. Exports of agricultural goods rose 16.5 percent and those of mining advanced 57 percent. In contrast, manufacturing sales decreased 6.1 percent, with non-automotive sales dropping 6.7 percent. Within non-oil exports, those to the US decreased 5.9 percent while those to the rest of the world increased 0.2 percent.
Imports shrank 5.9 percent to USD 33.5 billion as non-oil purchases shrank 7.3 percent while oil products jumped 11.6 percent. Imports declined for intermediate goods (-5.1 percent) and capital goods (-6.9 percent) and fell 9.4 percent for consumer goods.
On a seasonally adjusted basis, exports went down 5.3 percent and imports fell 6.4 percent.
11/25/2016 3:52:33 PM