Mexico Trade July 2019

Mexico

Mexico: Exports pick up strongly in July

August 27, 2019

Exports increased a firm 7.0% year-on-year in July, well above June’s 1.2% expansion and the strongest reading in nine months. The acceleration was mainly driven by a notable pick-up of manufacturing sales abroad, particularly of automotive products.

Imports rose 2.0% over the same month last year in July, contrasting the 7.8% fall registered in June, which had marked the worst result in nearly three years. The rebound largely reflected a solid upturn in the purchase of intermediate goods.

Meanwhile, the merchandise trade balance came in at a USD 1.1 billion deficit in July, smaller than the USD 2.9 billion shortfall logged in the same month a year ago. The trend continued to improve, with the 12-month rolling trade deficit narrowing to USD 4.3 billion from USD 6.0 billion in June.

LatinFocus analysts expect exports to reach USD 475 billion in 2019, which would represent a 5.5% year-on-year expansion. Meanwhile, imports are expected to expand 4.4% and reach USD 485 billion. For 2020, the panel expects exports and imports to expand 5.5% and 5.7%, respectively.


Author:, Economist

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Mexico Trade12m July 2019

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Mexico National Statistical Institute (INEGI)


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