Mexico Trade January 2019

Mexico

Mexico: Trade deficit signals improved manufacturing-sector exports in January

February 27, 2019

Merchandise trade recorded a USD 4.8 billion deficit in January, up from the USD 4.4 billion shortfall registered in the same month a year ago but in line with analysts’ expectations. Moreover, the result contrasted the USD 1.8 billion surplus recorded in December 2018.

Export growth on an annual basis climbed to 5.7% from 4.3% in December, helped along by a nearly broad-based improvement in non-oil and gas exports—and especially stronger manufacturing gains. For its part, automotive-sector export growth was stable from a month earlier. Imports, meanwhile, rose 6.1% on the heels of December’s 0.8% fall. Intermediate-good imports—typically, a bellwether for manufacturing output—jumped from a month earlier.

As such, the 12-month trailing trade deficit widened to USD 14.1 billion from USD 13.7 billion in December.

LatinFocus analysts expect exports to reach USD 479 billion in 2019, which would represent a 6.2% year-on-year expansion. Meanwhile, imports are expected to expand 6.2% and reach USD 493 billion. For 2020, the panel expects exports and imports to grow 6.8% and 6.3%, respectively.


Author:, Economist

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Mexico Trade Chart


Mexico Trade12m January 2019

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Mexico National Statistical Institute (INEGI)


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