Mexico Reports Trade Surplus in April

Mexico reported its third trade surplus in a row in April, the longest streak in almost two years, as manufacturing exports surged and imports fell.
Joana Taborda | 5/26/2014 5:09:55 PM
Mexican trade surplus narrowed to USD 510 million in April of 2014, from USD 1026 million in the previous month. A year earlier, the country posted a USD 1227 million deficit. 

Exports grew 3.7 percent year-on-year to USD 34.07 billion in April of 2014, following a 4.5 percent increase in the previous month. While non-oil exports increased 6.7 percent, oil sales shrank 15.5 percent.

Sales of manufactured goods, which accounted for 83 percent of exports, increased 7.1 percent from a year earlier, the most since September. Automotive exports rose 12 percent. 

In April, Mexico sold 1.051 million oil barrels per day, down from 1.133 million bbl/d in the previous month and 1.275 million bbl/d a year earlier. The average price stood at USD 95.02 per barrel, up by USD 1.88 over the previous month, but USD 4.57 less than in the same month last year.

Imports fell 1.5 percent on the year to USD 33.56 billion, after surging 7.2 percent in March. Imports of consumption goods fell 7 percent, capital goods decreased 9.1 percent, but purchases of intermediate goods rose a meager 0.78 percent.

Mexico Reports Trade Surplus in April