Mexico: Foreign trade balance remains positive
July 11, 2011
In May, the trade balance incurred a surplus of USD 555 million (April: USD 767 million surplus) according to revised figures released by the statistics institute (INEGI) on 11 July. The reading was in line with market expectations and represents the fifth consecutive month of a positive trade balance. The print showed a significant rebound in both exports and imports, as supply chain disruptions in the wake of the Japanese disaster began to ease. Exports expanded a strong 25.4% over the same month last year (March: +12.6% year-on-year) to reach a total of USD 31.1 billion. Imports accelerated from a 9.8% increase in April to a 24.0% expansion in May. The acceleration in imports mainly reflected higher imports of intermediate goods, although imports of consumption goods increased as well, suggesting that the incipient recovery in the domestic sector continues to gain traction.