Trade Balance in Mexico
Mexico - Trade Balance
Merchandise trade deficit widens in May
Merchandise trade recorded a USD 1.6 billion deficit in May, widening notably from the USD 1.2 billion deficit registered in May 2017 and also the USD 289 million deficit registered in April. The result disappointed market analysts who had expected a smaller USD 900 million deficit. Despite the wider trade deficit, export growth was relatively solid, expanding 11.9% over the same month a year prior in May (April: +17.0% year-on-year). The softer exports print was the result of notably weaker manufacturing exports (May: +7.8% yoy; April: +14.9% yoy), held back by tepid automotive exports, which eased out of double-digit growth (May: +5.5% yoy; April: +19.9% yoy).
Meanwhile, import growth also softened in May, decelerating to 11.5% in annual terms from April’s almost seven-year high of 21.4%. Among non-oil goods, the moderation in import growth was broad-based in May. Non-oil consumer imports—a proxy for domestic private consumption—came to a near halt. Non-oil intermediate imports—which are closely linked with manufacturing activity—also slowed considerably. Similarly, imports of capital goods—a proxy for investment—weakened in May.
The 12-month trailing trade deficit increased to USD 11.5 billion in May from USD 11.2 billion in April, considerably larger than the USD 9.7 billion deficit recorded in May 2017.
Panelists surveyed for this month’s LatinFocus report expect exports to reach USD 437 billion in 2018, which would represent a 6.8% expansion compared to the previous year. Meanwhile, imports are expected to grow 6.5% and reach USD 448 billion. For 2019, the panel expects exports to expand 5.4% and imports to expand 5.5%.
Mexico - Trade Balance Data
|Trade Balance (USD billion)||-1.2||-3.1||-14.7||-13.1||-11.0|
5 years of economic forecasts for more than 30 economic indicators.
Mexico Trade Balance Chart
Source: Mexico National Statistical Institute (INEGI).
|Bond Yield||7.77||-0.24 %||Jul 13|
|Exchange Rate||18.89||-0.29 %||Jul 13|
|Stock Market||48,116||0.12 %||Jul 13|
Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
July 9, 2018
Consumer prices rose 0.39% from a month earlier in June, contrasting their 0.16% fall recorded in May.
July 5, 2018
Consumer sentiment rose in June, with the seasonally-adjusted consumer confidence index published by INEGI hitting a half-year high of 88.0 points, up from a revised 87.1 points (previously reported: 87.0 points) in May.
July 2, 2018
Remittances totaled USD 3.1 billion in May (April: USD 2.7 billion), a robust 19.8% increase from the same month last year, accelerating from the 17.9% rise registered in April.
July 2, 2018
Mexico’s manufacturing sector wrapped up the first half of the year on a high note.
June 27, 2018
Merchandise trade recorded a USD 1.6 billion deficit in May, widening notably from the USD 1.2 billion deficit registered in May 2017 and also the USD 289 million deficit registered in April.