Mexico: Exports rebound in the final month of 2019
January 28, 2020
Exports rose 3.0% year-on-year in December 2019, rebounding from November’s 2.9% dip and putting an end to three consecutive months of falling exports. The upturn was mainly driven by a solid recovery of overseas shipments of manufactured goods.
In contrast, imports slipped 0.3% over the same month of 2018 in December, following the 10.3% plunge logged in November. The softer contraction mainly reflected a weaker decline in the purchase of intermediate goods as well as a rebound in consumer goods imports compared to November.
Meanwhile, the merchandise trade balance recorded a surplus of USD 3.1 billion in December, larger than the USD 1.9 billion surplus logged in the same month of 2018. Moreover, the 12-month rolling trade balance climbed to a USD 5.8 billion surplus in December from a USD 4.6 billion surplus in November.
Author: Javier Colato, Economist