Mexico: Trade balance records fifth consecutive month of surplus
July 25, 2014
In June, the trade surplus totaled USD 424 million. The reading came in below both the USD 920 million surplus registered in the same month last year and the USD 756 million surplus the market had expected. June’s result marked the fifth consecutive month of surplus. Moreover, in the 12 months up to June, the sum of the trade balance incurred a surplus of USD 584 million.
June’s trade surplus stemmed from a healthy increase in exports. Imports grew notably in June as well. Mexico’s overseas sales totaled USD 33.5 billion, which represented a 7.7% increase over the same month last year and came in above the 4.7% expansion registered in May. The Statistics Institute reported that non-petroleum products grew 8.0% annually, while petroleum products increased 5.1%. Meanwhile, imports recorded USD 33.1 billion in June, representing a strong 9.6% expansion in annual terms (May: +2.8% year-on-year).
Author: Ricardo Aceves, Senior Economist