Mexico Trade August 2016


Trade deficit and overall trend improve in August

Mexico’s trade shortfall totaled USD 1.9 billion in August, which followed a similar deficit in July (USD 1.8 billion) and marked an improvement over the USD 2.8 billion shortfall registered in the same month last year. The result also overshot the USD 2.4 billion deficit the markets had expected. Due to the better-than-expected result, the 12-month rolling deficit came in at USD 16.1 billion in August, which marks the smallest accumulated trade shortfall in six months.

August’s better-than-expected trade balance was the result of a 4.5% annual expansion in exports, which contrasted an 8.9% decrease in July. Imports increased 1.5% in August, which also contrasted a 9.9% decrease in July. Analysts suggest that overseas sales likely benefited from an increase in demand from the U.S. as well as from the recent depreciation of the Mexican peso, which makes Mexican shipments abroad more competitive.

Panelists surveyed for this month’s LatinFocus report expect exports to reach USD 378 billion in 2016, which will represent a 0.8% expansion compared to the previous year. Meanwhile, imports are expected to expand 0.7% and reach USD 393 billion. For 2017, the panel expects exports and imports to increase 5.2% and 5.2%, respectively.

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Mexico Trade Chart

Mexico Trade12m August 2016

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Mexico National Statistics Institute (INEGI)

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