Mexico: Merchandise exports fall for the first time in five months in January
Merchandise exports declined 2.6% annually in January, contrasting December 2020’s 11.5% surge and marking the first decrease in five months. January’s result primarily reflected declining manufacturing exports, dragged down mainly by falling non-auto exports, after they had soared in December.
Similarly, merchandise imports fell 5.9% over the same month of 2020 in January, contrasting December’s 3.7% rise. The slide was largely due to a decline in intermediate goods imports, which had risen in the previous month. Moreover, consumer and capital goods imports declined at a faster pace.
Consequently, the merchandise trade balance logged a USD 1.2 billion deficit in January, the first since May 2020. Lastly, the 12-month trailing merchandise trade balance rose to a USD 35.7 billion surplus in January from a USD 34.5 billion surplus in December 2020.