Mexico recorded a trade deficit of USD 1.844 billion in February 2023, switching from a USD 1.286 billion surplus in the corresponding month of 2022 and compared with market expectations of a USD 0.9 billion surplus. Exports went down by 2.8 percent from a year earlier to USD 44.993 billion, of which non-oil sales fell by 1.8 percent to USD 42.662 billion and oil sales slumped by 19.2 percent to USD 2.272 billion. Non-oil exports to the US increased by 2.2 percent, while those to the rest of the world dropped by 17.8 percent. Meanwhile, imports rose by 4.1 percent to USD 46.778 billion due to higher non-oil purchases (3.1 percent to USD 41.897 billion) and oil imports (12.9 percent to USD 4.881 billion). Imports rose for consumer goods (15.8 percent), intermediate goods (0.1 percent) and capital goods (28.4 percent). source: Instituto Nacional de Estadística y Geografía (INEGI)

Balance of Trade in Mexico averaged -296.08 USD Million from 1980 until 2023, reaching an all time high of 6274.69 USD Million in December of 2020 and a record low of -6278.12 USD Million in January of 2022. 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 March of 2023.

Balance of Trade in Mexico is expected to be 548.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico Balance of Trade is projected to trend around 1691.00 USD Million in 2024 and 407.00 USD Million in 2025, according to our econometric models.

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Mexico Balance of Trade



Calendar GMT Actual Previous Consensus TEForecast
2023-02-27 12:00 PM Jan $-4.125B $0.984B $-4.477B $ -3.55B
2023-03-27 12:00 PM Feb $-1.844B $-4.125B $0.9B $ 0.71B
2023-04-27 11:00 AM Mar $-1.844B $ 0.55B


Related Last Previous Unit Reference
Balance of Trade -1844.00 -4125.11 USD Million Feb 2023
Imports 46778.48 46715.74 USD Million Feb 2023
Exports 44934.12 42590.63 USD Million Feb 2023
Auto Exports 230.48 238.14 Thousand Units Feb 2023
Oil Exports 2271.63 2712.34 USD Million Feb 2023
Non Oil Exports 42662.50 39878.29 USD Million Feb 2023

Mexico Balance of Trade
Mexico's main exports are manufactured products (89 percent of total shipments) and oil and oil products (6 percent). Main imports are: metallic products, machinery and equipment (53 percent of total purchases), oil products (10 percent) and agricultural goods (3 percent). The country's top trading partner is the United States (80 percent of total exports and 46 percent of total imports). Others include: China, Japan and Germany. In 2017, trade between Mexico and the United States reached USD 522 billion, with Mexico posting a surplus of near USD 132 billion. Main exports to US include: other parts and accessories of vehicles (14 percent of total sales); trucks, buses and special purpose vehicles (10 percent); passenger cars (10 percent); computers (6 percent); telecommunication equipment (5 percent). Main imports from the United States are: other parts and accessories of vehicles (8 percent of total imports); electric apparatus (7 percent); petroleum products (6 percent) and computer accessories (6 percent). .
Actual Previous Highest Lowest Dates Unit Frequency
-1844.00 -4125.11 6274.69 -6278.12 1980 - 2023 USD Million Monthly
NSA

News Stream
Mexico Trade Balance Switches to Deficit
Mexico recorded a trade deficit of USD 1.844 billion in February 2023, switching from a USD 1.286 billion surplus in the corresponding month of 2022 and compared with market expectations of a USD 0.9 billion surplus. Exports went down by 2.8 percent from a year earlier to USD 44.993 billion, of which non-oil sales fell by 1.8 percent to USD 42.662 billion and oil sales slumped by 19.2 percent to USD 2.272 billion. Non-oil exports to the US increased by 2.2 percent, while those to the rest of the world dropped by 17.8 percent. Meanwhile, imports rose by 4.1 percent to USD 46.778 billion due to higher non-oil purchases (3.1 percent to USD 41.897 billion) and oil imports (12.9 percent to USD 4.881 billion). Imports rose for consumer goods (15.8 percent), intermediate goods (0.1 percent) and capital goods (28.4 percent).
2023-03-27
Mexico Trade Deficit Narrows in January
Mexico’s trade deficit narrowed to USD 4.125 billion in January of 2023 from USD 6.278 billion in the same month of the previous year, compared with analysts’ expectations of a USD 4.477 billion shortfall. Exports increased 25.6 percent from a year earlier to USD 42.591 billion, of which non-oil sales rose 26.9 percent to USD 39.878 billion, and oil exports increased 8.9 percent to USD 2.712 billion. Non-oil exports to the US increased by 2.0 percent, and those to the rest of the world expanded by 11.2 percent. Meanwhile, imports advanced 16.3 percent to USD 46.716 billion on non-oil purchases (15.7 percent to USD 41.165 billion) and a rise in oil imports (20.6 percent to USD 5.551 billion).
2023-02-27
Mexico Trade Surplus Widens in December
Mexico’s trade surplus widened to USD 0.984 billion in December of 2022 from USD 0.603 billion in the same month of the previous year, compared with analysts’ expectations of a USD 1.157 billion surplus. Exports increased 3.4 percent from a year earlier to USD 49.323 billion, of which non-oil sales rose 3.5 percent to USD 46.479 billion, and oil exports increased 1.5 percent to USD 2.844 billion. Non-oil exports to the US increased by 2.0 percent, and those to the rest of the world expanded by 11.2 percent. Meanwhile, imports advanced 2.6 percent to USD 48.339 billion on non-oil purchases (3.4 percent to USD 43.254 billion) and a drop in oil imports (-3.8 percent to USD 5.085 billion). For the full year of 2022, the trade account deficit widened by 141.5 percent to -26.421 billion.
2023-01-27