Mexico: Trade balance shows surplus as exports expand
August 9, 2013
The trade balance recorded a USD 856 million surplus in June. The reading was above the USD 615 million surplus observed in the same month last year and in line with market expectations of a USD 855 million surplus. The moving 12-month sum of the trade deficit narrowed from USD 5.2 billion in May to USD 5.0 billion in June.
The trade surplus in June reflects a 2.5% expansion in exports, which contrasts the 0.9% contraction recorded in May. As a result, the 12-month moving sum of exports expanded 2.7% in June (May: +2.4% year-on-year). Meanwhile, imports increased 1.7% annually, faster than the 1.5% expansion recorded in May. The 12-month moving sum of imports increased 3.6% in June, up from the 3.3% increase observed in May.
LatinFocus Consensus Forecast panellists expect exports to accelerate in the months ahead and reach a 3.6% expansion. Imports are expected to rise a stronger 5.0%. For next year, the panel expects both exports and imports to accelerate, growing 7.9% and 8.4% respectively.
Author: Ricardo Aceves, Senior Economist