Mexico: Trade deficit continues to widen in January
February 26, 2015
In January, the trade balance showed a USD 3.2 billion deficit. The reading matched the deficit observed in the same month last year and was also in line with market expectations. In the 12 months up to January, the trade balance incurred a deficit of USD 2.5 billion. The reading followed the USD 2.4 billion that was observed in the 12 months up to December.
January’s trade deficit reflected a deterioration in exports, which totaled USD 26.6 billion in January and represented a 1.8% contraction in annual terms (December: +6.4% year-on-year). Meanwhile, imports reached USD 29.8 billion in January, marking a 1.4% contraction annually (December: +11.2% yoy).
Author: Ricardo Aceves, Senior Economist