Mexico’s trade surplus widened sharply to USD 3068 million in December 2019 from USD 1859 million in the same month of the previous year and beating market expectations of USD 138 million. It was the largest trade surplus on record, as exports rose 3 percent to USD 38663 million boosted by sales of both oil (4.3%) and non-oil (2.9%), of which manufacturing products (2.6%), agricultural (7.5%) and extractive (5.7%). The country exported 1.118 million barrels of crude oil per day, higher than 1.114 million barrels a year earlier, while the price was USD 54.53 per barrel, $4.04 above the price in December 2018. Non-oil exports to the US increased 2.9 percent, driven by automotive (1.2%) and other goods (3.7%). Imports fell 0.3 percent to USD 35595 million, due to lower purchases of intermediate goods (-1%); capital (-0.6%); and oil (-9.7%). Considering 2019 as a whole, the country recorded a USD 5820 million surplus, compared with a USD 13618 million deficit in 2018.
Balance of Trade in Mexico averaged -299.52 USD Million from 1980 until 2019, reaching an all time high of 3068.29 USD Million in December of 2019 and a record low of -4642.52 USD Million in January of 2019. This page provides the latest reported value for - Mexico Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. source: Instituto Nacional de Estadística y Geografía (INEGI)
Balance of Trade in Mexico is expected to be -2200.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Mexico to stand at 1000.00 in 12 months time. In the long-term, the Mexico Balance of Trade is projected to trend around 1000.00 USD Million in 2021 and 1500.00 USD Million in 2022, according to our econometric models.