Mexico: Exports slip for the second time in nearly three years in September
Exports slipped 1.3% year-on-year in September, contrasting August’s 2.2% rise and marking the second fall since October 2016. The downturn was mainly driven by a marked drop in overseas shipments of automotive products.
Similarly, imports slid 1.8% over the same month last year in September, following the 5.9% decline registered in August. The softer fall largely reflected a milder contraction in the purchase of consumer goods and a slight rebound in imports of intermediate goods.
Meanwhile, the merchandise trade balance recorded a deficit of USD 116 million in September, smaller than the USD 301 million deficit logged in the same month a year ago. Moreover, the 12-month rolling trade deficit narrowed to USD 708 million in September from USD 893 million in August.