Mexico: Trade balance posts fifth deficit in November
December 23, 2011
The trade balance recorded a deficit of USD 232 million in November, according to preliminary data released by the statistics institute (INEGI) on 23 December. The print beat market expectations that had the trade balance posting a USD 475 million shortfall and also represented an improvement over the USD 466 million deficit tallied in October. Exports decelerated from a 13.4% expansion in October to a 10.1% increase in November. Both oil and non-oil exports moderated over the previous month, with oil exports slowing markedly from a 32.0% increase in the October to a 20.4% expansion in November. Meanwhile, imports followed suit and moderated from an 11.8% increase in October to a 10.6% expansion in November, mainly reflecting a slowdown in imports of consumer goods.