Mexico: Trade balance shows deficit in November as exports continue to slow
December 26, 2014
In November 2014, the trade balance incurred a USD 1.1 billion deficit, which contrasted the 315 million surplus registered in the same month of the previous year as well as the USD 500 million surplus the market had expected. The 12-month sum of the trade balance recorded a USD 1.1 billion deficit, which represented the first shortfall accumulated since March 2014.
November’s trade deficit stemmed from a deceleration in exports. Overseas sales reached USD 32.3 billion, which represented a 2.1% increase in year-on-year terms (October: +5.7% year-on-year). The reading marked the slowest growth rate in 10 months. Conversely, imports accelerated from a 4.9% increase in October to a 6.5% expansion, pushing imports to USD 33.4 billion in November.
Author: Ricardo Aceves, Senior Economist