Mexico Posts Trade Deficit In April
Mexico's trade balance turned to a deficit of $1225 million in April, as imports rose more than exports, according to data released by statistical office INEGI. A year earlier, the country reported a $419 million surplus.
5/27/2013 6:47:12 PM
In April, Mexico´s exports were worth $32863 million of which $28403 million accounted for oil exports. On a year over year basis, exports increased 6.4 percent mostly due to a rise in shipments of mining and agricultural products, 51.6 percent and 16.5 percent respectively. Manufacturing exports increased 6.8 percent to $26669 million, with automative exports rising 8.7 percent and non-automative exports increasing 6.1 percent. On the other hand, shipments of oil declined 1.7 percent.
In April, Mexico´s imports were worth $34088 million, a rise of 11.8 percent from April of 2012. Imports of oil increased 14.3 percent and non-oil imports 11.5 percent. By commodity, imports of consumer goods rose 17.5 percent, intermediate goods10.1 percent and capital goods 16.3 percent.
In the first four months of 2013, Mexico recorded a trade deficit of $2247 million.