Mexico: Trade deficit widens in November
December 28, 2018
Merchandise trade recorded a USD 2.4 billion deficit in November, down considerably from the USD 0.4 billion surplus registered in the same month a year earlier. That said, the result was narrower than the USD 2.9 billion deficit recorded in October.
Export growth on an annual basis slowed to 2.8% from 12.6% in October, hurt by an across-the-board slowdown—all-important manufacturing gains eased up, while oil and gas shipments lost ground. Import growth, meanwhile, slowed to 10.4% year-on-year from 13.7% in October on weaker gains in consumer-good imports. Intermediate-good imports, on the other hand, accelerated from a month earlier.
As such, the 12-month trailing trade deficit widened to USD 15.5 billion from USD 12.8 billion in October.
Author: Christopher Thomas, Economist