Mexico Posts Trade Deficit in May

Mexico recorded a USD 1017 million trade gap in May of 2015 from a USD 131 million surplus a year earlier as exports fell 8.8 percent while imports declined at a slower 5.5 percent.

Year-on-year, sales shrank to USD 31.34 billion, driven by a 37.2 percent drop in oil sales and a 5.3 percent decrease in non-oil exports. Within non-oil sales, mining shipments fell 38.1 percent while manufactured goods declined 5.2 percent, as auto sales (+1.8 percent) were not enough to offset the fall in non-auto exports (-8.6 percent). In contrast, shipments of agricultural goods went up 4.9 percent. Exports to the United States fell 2.9 percent, while those channeled to the rest of the world declined 15.2 percent.

Imports contracted to USD 32.36 billion, as oil purchases fell 25.2 percent and non-oil imports also decreased by 3.5 percent. Oil consumption goods fell 13 percent and oil intermediate goods dropped 31.1 percent. While, capital goods imports grew 1.4 percent.

On a monthly basis, exports contracted 4.8 percent and imports fell at a slower 3 percent.

During the first five months of the year, the Mexican trade balance showed a deficit of 3.303 million dollars, compared to a 684 million gap registered in the same period of 2014.

Mexico Posts Trade Deficit in May

6/26/2015 2:35:01 PM