Trade Balance in Mexico
Mexico - Trade Balance
Trade surplus hides downbeat manufacturing in February
Merchandise trade recorded a sizable USD 1.2 billion surplus in February, up from the USD 0.9 billion windfall registered in the same month a year ago and in line with analysts’ expectations. Despite the rosy headline, February’s surplus was almost entirely due to a drop in oil imports related to the transitory bottlenecks arising from efforts to halt fuel theft. Moreover, the result contrasted the USD 4.8 billion deficit recorded in January.
Export growth on an annual basis slid to 3.5% from 5.7% in January, hurt by manufacturing exports. For its part, automotive-sector export growth fell sharply from a month earlier. Import growth, meanwhile, fell to 2.7% from 6.1% in January. Intermediate-good import growth—typically, a bellwether for manufacturing output—slipped from a month earlier. On the upside, consumer-good import growth ticked higher.
As such, the 12-month trailing trade deficit narrowed to USD 13.8 billion from USD 14.1 billion in January.
LatinFocus analysts expect exports to reach USD 479 billion in 2019, which would represent a 6.2% year-on-year expansion. Meanwhile, imports are expected to expand 6.2% and reach USD 493 billion. For 2020, the panel expects exports and imports to grow 6.8% and 6.3%, respectively.
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||8.55||-0.24 %||Jan 30|
|Exchange Rate||19.13||-0.29 %||Jan 30|
|Stock Market||43,621||0.12 %||Jan 30|
Get a sample report showing our regional, country and commodities data and analysis.
Request a 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.
April 4, 2019
Consumer confidence eased in March, with the seasonally-adjusted consumer confidence index published by the National Statistics Institute (INEGI) coming in at 116.3 points, down from February’s all-time high of 120.0 points.
April 2, 2019
The manufacturing sector appears to have lost steam at the end of Q1.
April 1, 2019
Remittances totaled USD 2.4 billion in February, a 6.4% increase from the USD 2.3 billion inflows recorded in February 2018.
March 28, 2019
At its 28 March monetary policy meeting, Banxico’s governing board unanimously voted to leave the target for the overnight interbank interest rate at 8.25%, matching market analysts’ expectations.
March 27, 2019
Merchandise trade recorded a sizable USD 1.2 billion surplus in February, up from the USD 0.9 billion windfall registered in the same month a year ago and in line with analysts’ expectations.