Mexico’s trade deficit narrowed to USD 1117 million in July 2019 from USD 2870 million in the corresponding month of the previous year and compared with market expectations of a USD 460 million surplus. It was the smallest trade gap in ten months, as exports rose 7 percent over a year earlier and imports increased at a softer 2 percent. Considering the first seven months of the year, the country recorded a USD 2028 million surplus. Balance of Trade in Mexico averaged -310.66 USD Million from 1980 until 2019, reaching an all time high of 2561 USD Million in June of 2019 and a record low of -4642.52 USD Million in January of 2019.

Balance of Trade in Mexico is expected to be -800.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Mexico to stand at -2200.00 in 12 months time. In the long-term, the Mexico Balance of Trade is projected to trend around 1000.00 USD Million in 2020, according to our econometric models.

Mexico Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-24 01:00 PM Balance of Trade Apr $1.37B $1.486B $-0.544B $-0.1B
2019-06-27 01:00 PM Balance of Trade May $1.031B $1.37B $-1.03B $-0.8B
2019-07-26 11:00 AM Balance of Trade Jun $2.561B $1.031B $0.46B $0.9B
2019-08-27 11:00 AM Balance of Trade Jul $-1.117B $2.561B $0.46B $0.8B
2019-09-27 11:00 AM Balance of Trade Aug $-1.117B
2019-10-28 11:00 AM Balance of Trade Sep $ -0.8B
2019-11-27 12:00 PM Balance of Trade Oct



Mexico Trade Gap Narrows in July

Mexico’s trade deficit narrowed to USD 1117 million in July 2019 from USD 2870 million in the corresponding month of the previous year and compared with market expectations of a USD 460 million surplus. It was the smallest trade gap in ten months, as exports rose 7 percent over a year earlier and imports increased at a softer 2 percent. Considering the first seven months of the year, the country recorded a USD 2028 million surplus.

Exports went up 7 percent from a year ago to USD 39301 million in July. Non-oil exports jumped 8.6 percent, driven by higher sales of manufacturing (7.9 percent), namely machinery & equipment for industries (15.4 percent), automotive products (12.6 percent), food, alcoholic & beverages (9.8 percent), and professional & scientific equipment (8.3 percent). Also, sales of agricultural products advanced 30.7 percent, boosted by grapes & raisins (217.1 percent), fresh vegetables (115.1 percent), avocado (74.3 percent), pepper (35.6 percent) and garlic & onion (16.7 percent). In addition, sales of mining increased 6.7 percent. Oil exports dropped 14.1 percent. The country exported 1.079 million barrels of crude oil per day, lower than 1.156 million barrels a year earlier while the price was USD 58.61 per barrel, $7.73 below the price in July 2018.

Non-oil exports to the US rose 10.6 percent, as both auto sales (16 percent) and others (8 percent) increased. Sales to the rest of the world decreased 0.3 percent.

Imports advanced 2 percent to USD 40417 million, mostly due to higher purchases of intermediate goods (5 percent), as non oil (7.3 percent) while oil (-15.7 percent). In contrast, purchases of consumption goods (-0.7 percent), namely oil (-18.7 percent); and capital (-16.5 percent) declined. 

On a seasonally adjusted basis, Mexico trade surplus decreased to USD 653 million in July from USD 1459 million in June. Imports advanced 2.96 percent month-over-month while exports went up at a slower 1.09 percent.


INEGI | Stefanie Moya | stefanie.moya@tradingeconomics.com
8/27/2019 11:22:55 AM



Mexico Trade Last Previous Highest Lowest Unit
Balance of Trade -1117.00 2561.00 2561.00 -4642.52 USD Million [+]
Current Account 5142.70 -8508.20 5142.70 -11408.50 USD Million [+]
Current Account to GDP -1.80 -1.70 3.40 -6.10 percent [+]
Imports 40417.30 35388.25 44290.89 647.02 USD Million [+]
Exports 39300.50 37949.26 41825.44 1225.59 USD Million [+]
External Debt 456251.30 446097.80 456251.30 0.70 USD Million [+]
Terms of Trade 49.11 48.75 106.34 43.37 Index Points [+]
Foreign Direct Investment 5703.40 12399.10 21008.90 -63.90 USD Million [+]
Remittances 9402.60 7851.96 9402.60 158.70 USD Million [+]
Tourism Revenues 2167570.09 1976639.05 2522955.40 158919.00 USD Thousand [+]
Tourist Arrivals 2196.94 2163.38 2683.20 56.59 Thousand [+]
Gold Reserves 120.03 120.10 125.30 2.50 Tonnes [+]
Crude Oil Production 1681.00 1698.00 3547.00 1647.00 BBL/D/1K [+]
Terrorism Index 3.53 3.29 4.51 1.35 [+]
Capital Flows -2.20 -34.60 12079.70 -3457.70 USD Million [+]
Auto Exports 281.81 270.90 323.63 9.50 Thousand Units [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Mexico Balance of Trade

Mexico's main exports are manufactured products (89 percent of total shipments) and oil and oil products (6 percent). Main imports are: metallic products, machinery and equipment (53 percent of total purchases), oil products (10 percent) and agricultural goods (3 percent). The country's top trading partner is the United States (80 percent of total exports and 46 percent of total imports). Others include: China, Japan and Germany. In 2017, trade between Mexico and the United States reached USD 522 billion, with Mexico posting a surplus of near USD 132 billion. Main exports to US include: other parts and accessories of vehicles (14 percent of total sales); trucks, buses and special purpose vehicles (10 percent); passenger cars (10 percent); computers (6 percent); telecommunication equipment (5 percent). Main imports from the United States are: other parts and accessories of vehicles (8 percent of total imports); electric apparatus (7 percent); petroleum products (6 percent) and computer accessories (6 percent). . This page provides the latest reported value for - Mexico Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mexico Balance of Trade - actual data, historical chart and calendar of releases - was last updated on September of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
-1117.00 2561.00 2561.00 -4642.52 1980 - 2019 USD Million Monthly




Country Last Previous
Argentina 951.00 Jul/19
Australia 7268.00 Jul/19
Brazil 3280.00 Aug/19
Canada -1124.40 Jul/19
China 348.30 Aug/19
Euro Area 24789.70 Jul/19
France -4607.00 Jul/19
Germany 21449.00 Jul/19
India -13450.00 Aug/19
Indonesia 85.10 Aug/19
Italy 7630.87 Jul/19
Japan -136.30 Aug/19
Mexico -1117.00 Jul/19
Netherlands 4127.00 Jul/19
Russia 11224.00 Jul/19
Saudi Arabia 131636.00 Mar/19
Singapore 3787.85 Aug/19
South Africa -2880.82 Jul/19
South Korea 1723.00 Aug/19
Spain -1532700.00 Jun/19
Switzerland 2671.16 Jul/19
Turkey -3191.93 Jul/19
United Kingdom -219.00 Jul/19
United States -53989.00 Jul/19


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