Mexico: Exports accelerate for the first time in eight months
March 9, 2012
In January, the trade balance incurred a deficit of USD 287 million, according to data released by the statistical institute (INEGI) on 9 March. The reading contrasted the USD 7 million surplus recorded in December and exceeded market expectations, which had the trade deficit at USD 115 million. Exports accelerated for the first time in eight months and expanded 10.5%, up from the 8.2% increase seen in December. The improvement was underpinned mostly by a pick up in non-oil exports. Meanwhile, imports followed suit and increased 12.3% in January, up from the 7.4% rise recorded in December.