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Mexico Trade April 2019

Mexico: All-important manufacturing exports rebound in April; trade surplus persists

Merchandise trade recorded a sizable USD 1.4 billion surplus in April, contrasting the USD 0.3 billion deficit registered in the same month a year ago. Behind the headline was an upturn within the external sector; exports and imports both rebounded on an annual basis. That said, the result came in below the USD 1.5 billion surplus recorded in March.

Exports bounced back, rising 6.1% year-on-year (March: -1.2% year-on-year) on all-important manufacturing exports. For its part, automotive-sector export growth rose sharply from March. Imports, meanwhile, climbed 1.6% year-on-year (March: -0.5% year-on-year). Intermediate-good imports—typically a bellwether for manufacturing output—climbed modestly, as did consumer-good imports. Capital-good imports, on the other hand, fell sharply.

Taken together, the 12-month trailing trade deficit narrowed to USD 12.0 billion from USD 13.7 billion in March.

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