Mexico Trade Gap Narrows 23% YoY in July

Mexico's trade deficit decreased to $1827 million in July of 2016 from $2376.2 million a year earlier, well above market expectations of $950 million gap. Exports fell 9.0 percent, mainly due to lower sales of oil, while imports declined at a faster 9.9 percent as purchases of intermediate goods fell the most.

Exports shrank 9.0 percent year-on-year to $29,770 million, as oil sales dropped 22.3 percent while non-oil decreased at a slower 8.1 percent. Within non-oil exports, those to the US decreased 8.9 percent while those to the rest of the world went down 4.1 percent. Exports of manufacturing products declined by 9.0 percent, as automotive sales decreased 10.5 percent and non-automotive by 8.3 percent. By contrast, exports of agricultural goods and mining rose 6.6 percent and 60.1 percent, respectively.

Imports contracted 9.9 percent to $31597.4 million, as purchases of oil products declined 6.4 percent and non-oil imports fell 10.3 percent. When considering imports by type of goods, imports of intermediate goods dropped 10.1 percent and purchases of consumer and capital goods decreased 9.2 percent and 9.5 percent, respectively. 

On a seasonally adjusted monthly basis, exports grew 0.47 percent and imports increased 0.81 percent.

Mexico Trade Gap Narrows 23% YoY in July

INEGI | Yekaterina Guchshina |
8/26/2016 2:21:48 PM