Mexique Balance Commerciale

Mexico recorded a trade deficit of USD 585 million in February of 2024, less than one-third of the USD 1.889 billion from the corresponding period of the previous year, and compared to market expectations of a USD 200 million gap. Exports expanded by 13% to USD 50.721 billion, lifted by a 13.3% jump in foreign sales of manufactured goods, which were carried by goods in the automotive industry (26.9%). Exports were also higher for petroleum products (15.7%), but contracted for goods from other extractive industries (-7.6%). In the meantime, imports grew by a softer 9.7% to USD 51.306 in the period, as growth in foreign purchases of intermediate goods (7.9%) and consumer goods (13.9%) offset a decline in imports of petroleum products (-33.1%), largely due to the normalization of energy prices.