Mexico: Exports and imports expand in March after two consecutive contractions
April 27, 2015
In March, the trade balance showed a USD 480 million surplus, which came in below the USD 950 million surplus registered in the same month last year. Despite the surplus observed in March, an accumulated USD 3.3 billion trade deficit was recorded in the 12 months up to March. The reading represented the largest shortfall since October 2013.
According to the National Statistics Institute (INEGI), Mexican overseas sales recorded USD 31.4 billion in March, which represented a 2.7% increase in annual terms (February: -2.6% year-on-year). Meanwhile, imports registered USD 33.7 billion in March, which marked a rebound compared to the previous month (March: +4.3% yoy, February: -1.4%). The expansion in both exports and imports followed two consecutive months of contraction.
Author: Ricardo Aceves, Senior Economist