Mexico Trade Deficit Narrows 92% YoY in October

In October of 2013, Mexico recorded a trade deficit of 129 million USD, down from 1625 million USD a year earlier, as imports dropped by 1 percent and exports picked up 3.4 percent, boosted by higher sales of auto products.
Joana Taborda | 11/27/2013 2:36:40 PM
Exports rose to 35 billion USD, from 33.9 billion USD in the same month last year. In October, manufactured goods accounted for 82.8 percent of total exports; oil for 13.1 percent; agricultural goods for 2.9 percent and non-oil mining goods for the remaining 1.2 percent.

Shipments of automotive goods rose the most (13 percent yoy), followed by agricultural products (10.3 percent). In contrast, oil exports dropped by 6.4 percent and mining goods shrank by 10.9 percent.

Non-oil exports to the United States increased 8.1 percent yoy, after surging by 14 percent last month. Shipments to the rest of the world continued to drop and in October went down by 7.1 percent. 

Imports dropped by 0.97 percent on the year to USD 35.2 billion, after growing 5.7 percent in the previous month. Imports of consumer goods decreased 1.6 percent and purchases of capital goods decreased 1.2 percent.

In the first ten months of the year, Mexico posted a trade deficit of 3 billion USD.

Mexico Trade Deficit Narrows 92% YoY in October