Mexico Trade Balance August 2020


Mexico: Merchandise exports fall less severely in August

September 28, 2020

Merchandise exports declined 7.7% on an annual basis in August, less severely than July’s 8.9% drop. August’s more moderate contraction largely reflected softer falls in exports of oil and agricultural products. In contrast, sales of manufactures, particularly those tied to the auto industry, decreased at a quicker pace compared to July.

Imports, similarly, shrank 22.2% over the same month in August, after plunging 26.1% in July. The less severe downturn was mainly driven by softer falls in the purchase of consumer and intermediate goods.

Meanwhile, the merchandise trade balance recorded a surplus of USD 6.1 billion in August, much larger than the USD 0.4 billion surplus logged in the same month of 2019. As a result, the 12-month trailing merchandise trade balance soared to a USD 17.6 billion surplus in August from a USD 11.9 billion surplus in July.

LatinFocus analysts expect exports to reach USD 380 billion in 2020, which would represent a 17.5% year-on-year drop. Meanwhile, imports are expected to decline 18.8% and reach USD 370 billion. For 2021, the panel expects exports to expand 10.6% to reach USD 420 billion and, while imports are expected to expand 12.5% and reach USD 416 billion.

Author:, Economist

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Mexico Trade Balance Chart

Mexico Trade12m August 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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