Mexico: Merchandise exports increase in March
Merchandise exports soared 12.2% over the same month last year in March, on the heels of February’s 1.1% fall. March’s reading marked the best reading since October 2018, and was supported by higher oil and non-oil exports. Meanwhile, merchandise imports climbed 31.4% over the same month last year in March (February: -0.6% yoy), marking the best result since August 2010.
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 3.0 billion deficit in March (February 2021: USD 2.7 billion surplus; March 2020: USD 3.3 billion surplus). Lastly, the trend deteriorated, with the 12-month trailing merchandise trade balance recording a USD 29.2 billion surplus in March, compared to the USD 35.5 billion surplus in February.