Mexico posts smallest trade gap in over 2 yearsChristian Fernsby ▼ | October 30, 2019
Mexico’s trade deficit narrowed to USD 116 million in September 2019 from USD 301 million in the corresponding month of the previous year and compared with market expectations of a USD 245 million surplus.
- Imports declined 1.8 percent year-on-year to USD 37338 million in September
- The country exported 0.995 million barrels of crude oil per day
- On the other hand, non-oil exports went up 1 percent boosted by higher sales of manufacturing
LatAm Mexico city
Sales of agricultural products advanced mostly because of vegetables, mango, fruits, avocado, and pepper
Topics: Mexico trade
Imports declined 1.8 percent year-on-year to USD 37338 million in September, mainly due to lower purchases of consumption goods (-3.8 percent), namely oil (-23.1 percent); and capital (-13.5 percent). Meanwhile, imports of intermediate goods rose 0.2 percent, of which non oil (1.7 percent).
Exports went down 1.3 percent to USD 37222 million, as oil exports dropped 29.3 percent. The country exported 0.995 million barrels of crude oil per day, lower than 1.206 million barrels a year earlier while the price was USD 57.11 per barrel, $11.15 below the price in September 2018.
On the other hand, non-oil exports went up 1 percent boosted by higher sales of manufacturing (0.8 percent), in particular food, alcoholic and beverages (16.1 percent), mining metallury (14.7 percent), professional and scientific equipment (7.2 percent), and machinery and equipment for industries (5.5 percent).
Additionally, sales of agricultural products advanced 12.1 percent, driven by vegetables (42.9 percent), mango (38.6 percent), fruits (23.6 percent), avocado (21.2 percent), and pepper (14.7 percent).
Non-oil exports to the US increased 2.1 percent, as other goods rose (4.7 percent) while auto sales fell (-2.2 percent) Sales to the rest of the world went down 4 percent.
On a seasonally adjusted basis, Mexico trade surplus decreased to USD 449 million in September from USD 1690 million in August, as exports declined 5.26 percent
hile imports fell at a slower 2.39 percent. ■