Mexico: Exports growth shows signs of weakening
January 10, 2011
In November, exports rose 25.9% over the same month the previous year, which represented a significant improvement compared to October's 19.8% expansion and marked, in fact, the fastest pace in three months. As a result, exports finally exceeded pre-crisis levels, with the 3-month sum reaching USD 80.0 billion, which is a notch above the USD 79.9 billion peak recorded in July 2008. Boosted by the recovering domestic demand, imports also expanded at a robust pace in November, growing an annual 25.6% (October: +24.8% year-on-year) to a total of USD 28.3 billion. Nonetheless, as a result of the strong rebound in exports, the trade balance improved from a deficit of USD million in October to a deficit of USD 105 million in November.