Mexico Trade Balance June 2020

Mexico

Mexico: Drop in exports and imports moderates in June

July 27, 2020

Exports decreased 12.8% year-on-year in June, substantially less than May’s 56.7% collapse. This slowdown in the fall of exports was driven by smaller rates of decline in all sub-categories, in addition to a mild recovery of agricultural exports.

Similarly, imports fell 22.2% over the same month of 2019, after falling 47.1% in May. The slowing down of this contraction reflected an across-the-board reduction in the purchase of oil, consumer, intermediate and capital goods.

Meanwhile, the merchandise trade balance recorded a surplus of USD 5.5 billion in June, way above the USD 2.5 billion surplus recorded in the same month of 2019. As a result, the 12-month rolling trade balance improved to a USD 4.8 billion surplus in June from the USD 1.8 billion surplus in May.

LatinFocus analysts expect exports to reach USD 375 billion in 2020, which would represent a 5.22% year-on-year drop. Meanwhile, imports are expected to decline 18.7% and reach USD 370 billion. For 2021, the panel expects exports to expand 3.04% to reach USD 417 billion and, while imports are expected to expand % and reach USD 414 billion.


Author:, Economist

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Mexico Trade Balance Chart


Mexico Trade12m June 20 20

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 Statistical Institute (INEGI).


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