Mexico Trade Gap Narrows 32.2% YoY in August

Mexico's trade deficit fell 32.2 percent to USD 1.91 billion in August 2016 from USD 2.82 billion a year earlier, above market expectations of USD 2.37 billion gap. Exports rose 4.5 percent while imports increased at a slower 1.5 percent.

Exports went up 4.5 percent year-on-year to USD 32.42 billion compared to USD 31.01 billion, as non-oil sales rose 5.4 percent while oil exports dropped 8.2 percent. Within non-oil exports, those to the US grew 4.1 percent while those to the rest of the world advanced 11.8 percent. Exports of agricultural goods rose by 24.2 percent and those of mining advanced 13 percent. Also, sales of manufactured products went up by 4.8 percent, with automotive sales growing 1.5 percent.

Imports increased 1.5 percent to USD 34.33 billion from USD 33.83 billion a year earlier, as purchases of non-oil products climbed 4.8 percent while oil imports fell 25.3 percent. When considering imports by type of goods, imports of intermediate goods rose 4.6 percent and purchases of capital goods increased 5.7 percent; while imports of consumer goods dropped 15.4 percent.

On a seasonally adjusted monthly basis, exports declined 2.6 percent and imports decreased 3 percent.

Mexico Trade Gap Narrows 32.2% YoY in August

INEGI | Joana Ferreira |
9/27/2016 1:18:23 PM