Mexico: Exports gain steam in May
Exports grew a solid 6.7% year-on-year in May, above April’s 6.1% increase. A smaller drop in oil exports and booming automobile exports drove the uptick. Meanwhile, import growth stalled in May, coming in at 0.1% over the same month last year (April: +1.6% yoy).
The merchandise trade surplus came in at a healthy USD 1.0 billion in May, contrasting the USD 1.6 billion deficit registered in the same month a year ago. The trend continued to improve, with the 12-month trailing trade deficit narrowing to USD 9.5 billion from USD 12.0 billion in April.