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Mexico: Trade deficit widens in August

September 26, 2014

In August, the trade balance incurred a deficit of USD 1.1 billion. The reading was more than four times greater than the USD 225 million shortfall recorded in the same month last year and almost doubled the USD 600 million deficit the markets had expected. Moreover, August’s result marked the largest deficit since January of this year. In the 12 months up to August, the sum of the trade balance incurred a surplus of USD 1.0 billion.

August’s trade deficit reflected a second consecutive slowdown in exports. Shipments abroad totaled USD 33.4 billion in August, which represented a 2.1% year-on-year increase and was weaker than the 4.5% expansion observed in July. Meanwhile, imports grew 4.8% over the same month last year, which pushed imports’ value to USD 34.5 billion in August. (July: +3.1% yoy).

LatinFocus Consensus Forecast panelists expect exports to increase 6.6%, reaching USD 405 billion in 2014, while imports are expected to expand 8.0% and reach USD 412 billion. For 2015, the panel expects exports and imports to increase 7.8% and 8.1% respectively.


Author:, Senior Economist

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Mexico Trade12m August 2014

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 Statistics Institute (INEGI)


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