Mexico: Trade balance shows unexpected surplus in September as exports surge
October 28, 2014
In September, the trade balance incurred a surplus of USD 590 million. The result came in slightly below the USD 651 million surplus registered in the same month last year and contrasted both the USD 1.1 billion shortfall observed in August and the USD 317 million deficit that markets had expected. In the 12 months up to September, the sum of the trade balance totaled a USD 44 million surplus.
September’s trade surplus, which is the sixth so far in 2014, reflected a surge in overseas sales. Exports totaled USD 34.3 billion, which represented a 9.2% expansion in year-on-year terms. The reading marked the fastest pace in nearly two years and was well above the 2.1% rise recorded in August. Meanwhile, imports increased a strong 9.6% annually in September, which came in above the 4.8% expansion tallied in August.
Author: Ricardo Aceves, Senior Economist