Mexico: Trade balance records 3rd consecutive month of surplus
May 26, 2014
In April, the trade balance reached a USD 510 million surplus. The reading contrasted the USD 1.23 billion deficit recorded in the same month last year as well as the USD 450 million deficit the markets had expected. April’s result followed the USD 1.03 billion surplus recorded in March and represented the third consecutive month of surplus. Moreover, the 12-month sum of the trade balance incurred a surplus of USD 544 million, which is the first surplus that has been recorded since October 2012.
April’s trade data reflected that growth in exports is solidifying. Mexico’s overseas sales totaled USD 34.1 billion in April, which represented a 3.7% expansion in annual terms (March: +4.5% year-on-year). According, to the Statistics Institute (INEGI), the increase in exports was driven by healthy growth in exports of non-petroleum products, while shipments of petroleum products decreased. Meanwhile, imports totaled USD 33.6 billion in April, which represented a 1.5% contraction over the same month last year (March: +7.2% yoy).
Author: Ricardo Aceves, Senior Economist