Mexico Trade November 2019

Mexico

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.

LatinFocus analysts expect exports to reach USD 489 billion in 2020, which would represent a 4.6% year-on-year expansion. Meanwhile, imports are expected to expand 4.7% and reach USD 497 billion. For 2021, the panel expects exports to reach USD 501 billion and expand 2.5%, while imports are expected to expand 3.7% and reach USD 515 billion.


Author:, Economist

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Mexico Trade12m November 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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