Mexico Trade November 2018


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.

Panelists surveyed for this month’s LatinFocus report expect exports to reach USD 473 billion in 2019, which would represent a 6.4% year-on-year expansion. Meanwhile, imports are expected to expand 5.7% and reach USD 482 billion. For 2020, the panel expects exports and imports to grow 6.6% and 5.8%, respectively.


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Mexico Trade Chart

Mexico Trade12m November 2018 0

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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