Mexico: Exports and imports contract for second consecutive month
March 27, 2015
In February, the trade balance showed a USD 560 million surplus. The reading came in slightly below the USD 920 million surplus observed in the same month last year. In the 12 months up to February, the trade balance incurred a deficit of USD 2.9 billion (January: USD 2.5 billion deficit), which is the largest accumulated deficit seen since October 2013.
According to the National Statistics Institute (INEGI), exports recorded USD 29.7 billion in February, which represented a 2.6% annual contraction. The reading followed the 1.8% contraction decrease recorded in January. Imports reached USD 29.1 billion in February, marking a 1.4% year-on-year decrease (January: -1.4% year-on-year).
Author: Ricardo Aceves, Senior Economist