Mexico: Merchandise exports grow at a more moderate pace in June
Merchandise exports soared 29.1% over the same month last year in June (May: +125.2% year-on-year), driven by a doubling in the value of oil exports. Meanwhile, merchandise imports jumped 52.3% in annual terms in June (May: +87.5% yoy), driven by higher oil imports.
As a result, the merchandise trade balance improved from the previous month, recording a USD 0.8 billion surplus in June (May 2021: USD 0.3 billion surplus; June 2020: USD 5.5 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 32.7 billion surplus in June, compared to the USD 37.5 billion surplus in May.