Mexico’s trade balance shifted to a USD 3,807 million deficit in April 2020 from a USD 1,370 surplus in the same month of the previous year and well below market expectations of a USD 2.04 million surplus. It was the largest trade gap since January last year, amid the coronavirus crisis. Exports plunged 40.9 percent over a year earlier to an over ten-year low of USD 23,385 million, as sales of oil slumped 66.4 percent and those of non-oil dropped 39.4 percent. The country exported 1.179 million barrels of crude oil per day, higher than 1.023 million barrels a year earlier, while the price was USD 14.18 per barrel, $47.68 below the price in April 2019. Non-oil exports to the US went down 40.7 percent, driven by automotive (-80 percent) and other goods (-20.2 percent). Imports declined 30.5 percent to an over nine-year low of USD 26,742 million, due to lower purchases of intermediate goods (-28.1 percent); consumption (-46.5 percent); capital (-26.7 percent); and oil (-53 percent).
Balance of Trade in Mexico averaged -296.52 USD Million from 1980 until 2020, reaching an all time high of 3335.53 USD Million in March of 2020 and a record low of -4625.28 USD Million in January of 2019. This page provides the latest reported value for - Mexico Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mexico Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on June of 2020. source: Instituto Nacional de Estadística y Geografía (INEGI)
Balance of Trade in Mexico is expected to be -2500.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Mexico to stand at 1500.00 in 12 months time. In the long-term, the Mexico Balance of Trade is projected to trend around 1000.00 USD Million in 2021 and 1500.00 USD Million in 2022, according to our econometric models.