Mexico Posts Record Trade Deficit in January

In January of 2014, Mexican trade balance posted a USD 3.195 billion deficit, the highest trade deficit on record and mainly due to a fall in oil exports.

Exports fell 1 percent over a year earlier to USD 27 billion, as a 2 percent increase in non-oil exports was not enough to offset a 15.8 percent fall in oil sales. Compared with the previous month, exports shrank 15.8 percent.

The country exported 1.18 million oil barrels per day, less than 1.3 million bbl per day in the last month of 2013 and 1.29 million bbl per day a year earlier. The average price stood at USD 90.72 per barrel, USD 1.06 less than in the previous month and USD 9.88 lower than in the same month last year.

Among non-oil exports, shipments of mining products grew the most on the year (25.3 percent).

Imports rose a meager 0.3 percent on the year to USD 30.23 billion. 

Mexico Posts Record Trade Deficit in January

Joana Taborda |
2/26/2014 2:29:10 PM