Mexico Posts Highest Trade Deficit in 6 Years

Mexican trade gap widened to USD 3248 million in January of 2015 from a USD 3182 million shortfall a year earlier. It is the highest deficit since late 2008 as plunging oil prices are bringing exports down.

Exports decreased 1.8 percent year-on-year to USD 26.57 billion. Oil sales shrank 47.3 percent, offsetting a 5.7 percent increase in non-oil exports.

In January, Mexico sold 1.261 million oil barrels per day, up from 1.237 million bbl/d in the previous month and 1.171 million bbl/d a year earlier. The average price stood at USD 40.15 per barrel, down by USD 12.21 over the previous month and USD 50.50 less than in the same month last year.

Imports fell 1.4 percent to USD 29.82 billion, hurt by a 19.2 percent drop in oil purchases. 

Mexico Posts Highest Trade Deficit in 6 Years

Joana Taborda |
2/26/2015 2:28:59 PM