Mexico's trade surplus widened to USD 5,547 million in June 2020 from USD 2,541 million in the corresponding month of the previous year. It was the largest trade surplus on record, as imports slumped 22.2 percent over a year earlier to USD 27,530 million mainly due to lower purchases of intermediate goods (-19.6 percent); consumption (-43.6 percent); capital (-12.3 percent); and oil (-55.4 percent). Exports plunged at a softer 12.8 percent to USD 33,076 million, as sales of oil dropped 35.6 percent and those of non-oil declined 11.6 percent. The country exported 1.114 million barrels of crude oil per day, higher than 0.995 million barrels a year earlier, while the price was USD 32.90 per barrel, $23.95 below the price in May 2019. Non-oil exports to the US fell 7.9 percent, of which automotive (-25.5 percent) while other goods (1.6 percent). Considering the first half of the year, the country recorded a USD 2,659 million surplus.
Balance of Trade in Mexico averaged -291.14 USD Million from 1980 until 2020, reaching an all time high of 5547 USD Million in June of 2020 and a record low of -4625.28 USD Million in January of 2019. 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 - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Instituto Nacional de Estadística y Geografía (INEGI)
Balance of Trade in Mexico is expected to be -2000.00 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 800.00 in 12 months time. In the long-term, the Mexico Balance of Trade is projected to trend around 2500.00 USD Million in 2021 and 1500.00 USD Million in 2022, according to our econometric models.