Mexico Trade Deficit Widens in November


Mexican trade deficit increased to USD 1,569 million in November of 2015, compared to a USD 1,049 million gap a year earlier and beating market expectations of USD 1,001 million gap. Exports dropped by 4.1 percent mainly due to lower oil sales, while imports fell at a slower 2.4 percent.

Exports shrank by 4.1 percent to USD 31,025 million compared to USD 36,879 million in November of 2014, as oil sales dropped by 50.2 percent while non-oil rose 0.9 percent. Within non-oil exports, those to the US increased by 3.0 percent, while those to the rest of the world declined by 9.0 percent. Exports of mining goods declined by 1.6 percent while agricultural goods rose 1.5 percent. Also, shipments of manufactured products went up by 0.9 percent, as non-automotive sales grew 1.5 percent.

Imports contracted by 2.4 percent to USD 32,593 million from USD 33,405 million a year earlier, as purchases of oil products declined by 36.1 percent while non-oil increased by 1.7 percent. When considering imports by type of goods, imports of consumer and intermediate goods showed an annual reduction of 7.3 percent and 2.1 percent, each. By contrast, imports of capital goods increased by 2.5 percent.

On a seasonally adjusted monthly basis, exports fell 3.75 percent and imports 2.4 percent.

In the first eleventh months of the year, Mexican trade deficit was recorded at USD 13,533.8 million compared to a USD 3,131 million gap in the same period last year, as exports fell by 3.6 percent and imports decreased by only 0.8 percent.

INEGI | Yekaterina Guchshina | yekaterina@tradingeconomics.com
12/24/2015 2:22:57 PM