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.
Author: Nicolás J. Aguilar, Economist