Mexico: Trade balance records second consecutive deficit
October 10, 2012
In August, the trade balance posted a USD 979 million deficit. The reading exceeded both the USD 829 million shortfall seen in the same month last year and market expectations, which had the trade balance recording an USD 800 million deficit. Export growth decelerated markedly from 8.7% in July to 0.6% in August, mostly as a result of a significant deceleration in manufacturing exports. Imports moderated as well, falling from a 5.8% increase in July to a 1.1% rise in August, which reflected slower growth in imports of intermediate goods. In the 12 months up to August, the trade balance recorded a deficit of USD 721 million, which is down from the USD 571 million shortfall recorded in the same period up to July.