Mexico city at goldenhour

Mexico Trade December 2022

Mexico: Merchandise exports increase in December

Merchandise exports rose 3.4% over the same month last year in December (November: +8.0% year-on-year). Decembers result marked the softest expansion since October 2021. Non-oil exports growth moderated to 3.5% amid slowing manufacturing export growth. This more than offset a rebound in oil exports, which expanded 1.5%. Meanwhile, merchandise imports expanded 2.6% on an annual basis in December (November: +8.1% yoy), marking the weakest growth since February 2021.

As a result, the merchandise trade balance improved from the previous month, recoding a USD 1.0 billion surplus in December (November 2022: USD 0.1 billion deficit; December 2021: USD 0.6 billion surplus). Lastly, the trend improved slightly, with the 12-month trailing merchandise trade balance recording a USD 26.4 billion deficit in December, compared to the USD 26.8 billion deficit in November.

Panelists surveyed for this months LatinFocus report project merchandise exports to rise 3.3% in 2023 and merchandise imports to grow 2.2%, pushing the trade balance to USD 18.19 billion. For 2024, our panel sees merchandise exports increasing 5.5% and merchandise imports rising 6.1%, with a trade balance of USD 22.47 billion.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest