Mexico Trade October 2018

Mexico

Mexico: Trade deficit widens in October

November 27, 2018

Merchandise trade recorded a USD 2.9 billion deficit in October, up from the USD 2.3 billion shortfall registered in the same month a year ago. Moreover, the result was considerably higher than the USD 0.2 billion deficit recorded in September.

Export growth on an annual basis accelerated to 12.6% from 11.9% in October, boosted by stronger manufacturing gains. Import growth, meanwhile, climbed to 13.7% year-on-year—from 6.4% in September—on sizably stronger consumer-good and intermediate-good imports.

As such, the 12-month trailing trade deficit widened to USD 12.8 billion from USD 12.1 billion in September.

Panelists surveyed for this month’s LatinFocus report expect exports to reach USD 472 billion in 2019, which would represent a 6.3% year-on-year expansion. Meanwhile, imports are expected to grow 6.6% and reach USD 486 billion. For 2020, the panel expects exports to expand 8.7% and imports to expand 9.1%.


Author:, Economist

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Mexico Trade12m October 2018

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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