Mexico Posts Biggest September Trade Deficit in 3 Years


Mexico trade deficit widened to USD 1886 million in September of 2017 from a USD 1527 million shortfall a year ago and well above market expectations of a USD 985 million gap. It is the highest trade gap since 2014 when a USD 481 million surplus was recorded. Imports increased 4.3 percent year-on-year to USD 35704 million, due to higher purchases of consumption goods (7 percent), namely oil (11.5 percent). Exports rose 3.4 percent year-on-year to USD 33818 million, mainly due to 3.6 percent rise in non oil sales. Non-oil shipments to the US went up 1.1 percent.

Year-on-year, exports rose 3.4 percent to USD 33818 million in September of 2017. Non oil sales, which account for around 95 percent of total exports, increased 3.6 percent and exports of oil went up 1.1 percent. Within non-oil exports, sales rose for manufacturing (3.5 percent), namely steel products (19 percent); food, beverages and tobacco (13.1 percent) and auto products (7.7 percent), electrical and electronic equipment (5.6 percent) and professional and scientific equipment (2.2 percent).

Sales of auto products to the US advanced 1.6 percent and to the rest of the world 50.8 percent. Considering the first nine months of the year, auto exports to the US accounted for around 27 percent.

Imports increased 4.3 percent year-on-year to USD 35704 million, due to higher purchases of consumption goods (7 percent), namely oil (11.5 percent); intermediate goods (4.9 percent), while capital goods fell 3.1 percent. 

Mexico Posts Biggest September Trade Deficit in 3 Years


INEG | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/26/2017 3:22:14 PM