Mexico: Exports slip for third successive month in November
December 27, 2019
Exports dipped 2.9% year-on-year in November, following October’s softer 1.5% slip and marking the third consecutive month of falling exports. The sharper downturn was mainly driven by a steep drop in overseas shipments of non-automotive products, which had increased in the previous month.
Similarly, imports plunged 10.3% over the same month in 2018 in November, following the 6.4% fall registered in October. The larger contraction reflected a steeper decline in the purchase of consumer and intermediate goods compared to October.
Meanwhile, the merchandise trade balance recorded a surplus of USD 790 million in November, contrasting the USD 2.3 billion deficit logged in the same month of 2018. Moreover, the 12-month rolling trade balance climbed to a USD 4.6 billion surplus in November from a USD 1.5 billion surplus in October.
Author: Javier Colato, Economist