Merchandise trade surplus widens in August

Latest reading: In August, the trade balance was USD +1.4 billion, following a USD +0.9 billion reading in the prior month. Over the last 12 months, the trade balance summed to USD +9.9 billion. Exports were up 16.4% in year-on-year terms in August, following a 19.7% increase in the previous month and driven by higher fuel plus agricultural goods sales. Imports rose 32.4% in year-on-year terms in August, coming on the back of a 19.7% rise in the previous month. Imports rose partly thanks to the strong peso in real terms plus reduced government restrictions on imports.

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