Mexico: Trade deficit narrows slightly in May
June 27, 2016
In May, the trade deficit totaled USD 0.5 billion, which marked an improvement over the USD 2.1 billion deficit registered in April. May’s reading was also an improvement compared to the USD 1.1 billion deficit recorded in May last year. The reading suggests a slight improvement in Mexico’s external sector, with exports returning to growth and the decline in imports remaining stable. This has led to a marginal improvement in the 12-month rolling deficit, which came in at USD 17.9 billion in May (April: USD 18.5 billion deficit).
Exports increased 0.3% annually in May, which contrasted a 7.8% decline in April and marked the first expansion in nearly a year. Meanwhile, imports decreased 1.6% in May, in line with the contraction seen in April.
Author: Christopher Mc Innes, Economist