Mexico: Trade deficit narrows in August as exports grow faster than imports
October 10, 2013
The trade balance ran up a USD 234 million deficit in August (July: USD 1.4 billion deficit). The reading was above both the USD 982 million shortfall observed in the same month last year and market expectations of a USD 1.2 billion deficit.
The narrowing of the trade deficit in August reflected a 3.2% increase in exports (July: +6.3% year-on-year), which was faster than the 0.8% expansion in imports (July: +9.6% yoy).
LatinFocus Consensus Forecast panelists expect exports to increase 3.6% this year, while imports are expected to rise a stronger 5.0%. For 2014, the panel expects exports and imports to accelerate, growing 7.9% and 8.4% respectively.
Author: Ricardo Aceves, Senior Economist