Exports in Mexico
Mexico - Exports
Exports slip in March
Exports dropped 1.6% year-on-year in March, contrasting February’s 0.6% increase. The fall was mainly driven by a collapse of oil exports and a moderate decline in shipments of vehicles and auto parts.
Similarly, imports contracted 6.7% over the same month of 2019 in March, following the 3.9% drop logged in February and marking the eighth consecutive month of declining imports. The sharper downturn reflected an across-the-board decline in the purchase of oil, consumer, intermediate and capital goods compared to February.
Meanwhile, the merchandise trade balance recorded a surplus of USD 3.4 billion in March, larger than the USD 1.5 billion surplus logged in the same month of 2019. Moreover, the 12-month rolling trade balance climbed to a USD 11.5 billion surplus in March from a USD 9.6 billion surplus in February.
LatinFocus analysts expect exports to reach USD 402 billion in 2020, which would represent a 12.8% year-on-year fall. Meanwhile, imports are expected to decline 13.6% and reach USD 393 billion. For 2021, the panel expects exports to reach USD 442 billion and expand 9.7%, while imports are expected to expand 11.5% and reach USD 439 billion.
Mexico - Exports Data
|Exports (USD billion)||381||374||409||451||461|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||6.87||-0.24 %||Dec 31|
|Exchange Rate||18.93||-0.29 %||Jan 01|
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July 1, 2020
The seasonally-adjusted manufacturing Purchasing Managers’ Index (PMI) produced by the Mexican Institute of Financial Executives (IMEF) clawed back up to 42.0 in June from 37.6 in May, which had marked the lowest reading on record.
July 1, 2020
Remittances totaled USD 3.4 billion in May (April: USD 2.9 billion), representing a 3.0% increase from the same month a year ago and rebounding from the 2.6% drop logged in April which had marked the steepest fall in over four years.
June 26, 2020
The monthly indicator for economic activity (IGAE) collapsed 17.3% month-on-month in seasonally-adjusted terms in April (March: -1.3% mom).
June 26, 2020
Exports crashed 56.7% year-on-year in May, marking a new record-breaking drop after April had already registered a record 40.9% fall.
June 25, 2020
At its 25 June meeting, the Governing Board of the Bank of Mexico (Banxico) decided to lower the target for the overnight interbank interest rate by 50 basis points to 5.00%, marking the ninth consecutive cut and the lowest since November 2016.