Mexican Trade Gap Widens Sharply in October

Mexican trade deficit increased to USD 1,444 million in October of 2015, compared to a USD 64 million gap a year earlier and beating market expectations of USD 1,785 million gap. Exports dropped by 7.4 percent mainly due to lower oil sales, while imports fell at a slower 3.6 percent.

Exports shrank by 7.4 percent to USD 34,155 million compared to USD 36,879 million in October of 2014, as both oil and non-oil sales dropped by 41.5 percent and by 4.1 percent, respectively. Whithin non-oil exports, those to the US fell by 2.7 percent, while those to the rest of the world declined by 10.6 percent. Exports of mining (-17.2 percent) and agricultural goods (-4.8 percent) fell the most. Also, shipments of manufactured products went down by 3.9 percent, as automotive sales shrank by 5.6 percent.

Imports contracted by 3.6 percent to USD 35,599 million from USD 36,943 million a year earlier, as purchases of oil and non-oil products declined by 22.9 percent and by 1.7 percent, respectively. When considering imports by type of goods, imports of consumer and intermediate goods showed an annual reduction of 7 percent and 3.6 percent, each. By contrast, imports of capital goods increased by 1.1 percent.

On a seasonally adjusted monthly basis, exports advanced 2.1 percent while imports fell 1.6 percent.

In the first ten months of the year, Mexican trade deficit was recorded at USD 11,965 million compared to a USD 2,082 million gap in the same period last year, as exports fell by 3.6 percent and imports decreased by only 0.6 percent.

Mexican Trade Gap Widens Sharply in October

INEGI | Joana Ferreira |
11/27/2015 2:25:40 PM