Mexico Trade Balance June 2021

Mexico

Mexico: Merchandise exports grow at a more moderate pace in June

July 27, 2021

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.

Panelists surveyed for this month’s LatinFocus report project merchandise exports to rise 12.5% in 2021 and merchandise imports to grow 17.6%, pushing the trade balance to a USD 18.7 billion surplus. For 2022, our panel sees merchandise exports increasing 4.7% and merchandise imports rising 6.2%, with a trade surplus of USD 12.6 billion.


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Mexico Trade12m June 2021

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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