Mexico Trade April 2016

Mexico

Mexico: Trade deficit widens notably in April

May 25, 2016

In April, the trade deficit totaled USD 2.1 billion, which marked a notable deterioration over the USD 87 million surplus registered in the previous month. A year-on-year comparison showed that April’s shortfall was wider than the USD 69 million deficit registered in the same month last year, which indicates that growth in exports continues to falter, while that of imports improved somewhat. The wider-than-expected trade shortfall—markets had expected a USD 570 million deficit—prompted the 12-month rolling deficit to widen to USD 18.5 billion, which is the largest trade deficit in more than two decades.

Exports contracted 7.8% annually in April, which followed a 7.9% decline in March and marked the 10th consecutive month of negative growth in Mexico’s overseas sales. Meanwhile, imports decreased 1.6% in April, which came in above the 6.7% contraction registered in March. March’s result had represented the sharpest contraction since October 2009.

Panelists surveyed for this month’s LatinFocus report expect exports to reach USD 382 billion in 2016, which will represent a 0.4% expansion compared to the previous year. Meanwhile, imports are expected to expand 0.3% and reach USD 397 billion. For 2017, the panel expects exports and imports to increase 5.9% and 5.7%, respectively.


Author:, Senior Economist

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Mexico Trade Chart


Mexico Trade12m April 2016

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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