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Mexico Trade March 2020

Mexico: Exports slip in March

Exports dropped 1.6% year-on-year in March, contrasting February’s 0.6% increase. The fall was mainly driven by a collapse of oil exports and a moderate decline in shipments of vehicles and auto parts.

Similarly, imports contracted 6.7% over the same month of 2019 in March, following the 3.9% drop logged in February and marking the eighth consecutive month of declining imports. The sharper downturn reflected an across-the-board decline in the purchase of oil, consumer, intermediate and capital goods compared to February.

Meanwhile, the merchandise trade balance recorded a surplus of USD 3.4 billion in March, larger than the USD 1.5 billion surplus logged in the same month of 2019. Moreover, the 12-month rolling trade balance climbed to a USD 11.5 billion surplus in March from a USD 9.6 billion surplus in February.

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