Mexico Trade Balance Returns to Surplus

In February of 2014, Mexico posted a USD 976 million trade surplus, after recording in January the highest deficit on record. The figure compares with a USD 80 million surplus in the same month last year.

Exports rose 4.8 percent on the year to USD 30.52 billion, boosted by a 6.3 percent increase in non-oil exports. Sales of mining products surged 33.4 percent; auto manufactured products 13.4 percent and agricultural products rose 11.5 percent year-on-year. 

In contrast, oil shipments fell 5.1 percent on the year. In February, Mexico sold 1.276 million oil barrels per day, up from 1.17 million bbl per day in the previous month and 1.220 million bbl per day a year earlier. The average price stood at USD 93.13 per barrel, USD 2.41 more than in the previous month but USD 13.87 less than in the same month last year.

Non-oil shipments to the US increased 9.6 percent, which was enough to offset a 5.9 percent fall in sales to the rest of the world. 

Imports advanced 1.6 percent year-on-year to USD 29.544 billion, boosted by purchases of intermediate and consumption goods, while imports of capital goods fell 1.1 percent.

Mexico Trade Balance Returns to Surplus

Joana Taborda |
3/27/2014 2:25:54 PM