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Mexico Trade Balance December 2021

Mexico: Merchandise exports increase at a more moderate rate in December

Merchandise exports jumped 10.8% in annual terms in December (November: +19.2% year-on-year). Meanwhile, merchandise imports jumped 27.7% on an annual basis in December (November: +29.6% yoy).

As a result, the merchandise trade balance improved from the previous month, recording a USD 0.6 billion surplus in December (November 2021: USD 0.1 billion deficit; December 2020: USD 6.2 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 11.5 billion deficit in December, compared to the USD 5.9 billion deficit in November.

Panelists surveyed for this month’s LatinFocus report project merchandise exports to rise 6.5% in 2022 and merchandise imports to grow 6.2%, pushing the trade balance to USD -3.0 billion. For 2023, our panel sees merchandise exports increasing 4.8% and merchandise imports rising 5.7%, with a trade balance of USD -8.0 billion.

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