Mexico: Exports fall for second successive month in October
Exports slid 1.5% year-on-year in October, following September’s softer 1.3% slip and marking the second consecutive fall. The sharper downturn was mainly driven by a larger drop in overseas shipments of automotive products.
Similarly, imports declined 6.4% over the same month last year in October, following the 1.7% dip registered in September. The larger contraction chiefly reflected the marked fall in the purchase of intermediate goods after having risen mildly in September.
Meanwhile, the merchandise trade balance recorded a deficit of USD 725 million in October, much smaller than the USD 2.9 billion deficit logged in the same month a year ago. Moreover, the 12-month rolling trade balance swung to a USD 1.5 billion surplus in October from a USD 708 million deficit in September.