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Mexico Trade January 2020

Mexico: Exports quicken at the turn of 2020

Exports rose 3.2% year-on-year at the outset of 2020, above December’s 3.0% increase. The upturn was mainly driven by a sharp pick-up of oil and auto exports.

In contrast, imports fell 3.2% over the same month of 2019 in January, following the 0.3% slip logged in December. The sharper contraction reflected a steeper decline in the purchase of intermediate and capital goods compared to December.

Meanwhile, the merchandise trade balance recorded a deficit of USD 2.4 billion in January, smaller than the USD 4.6 billion deficit logged in the same month of 2019. Moreover, the 12-month rolling trade balance climbed to a USD 8.0 billion surplus in January from a USD 5.8 billion surplus in December.

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