Mexico Trade Gap Widens 9% YoY in September
Mexico's trade deficit widened 9 percent to $1.6 billion in September 2016 compared to 1.5 billion a year earlier and above market expectations of $0.7 billion gap. Exports went up 1.4 percent and imports rose 1.7 percent.
Exports went up 1.4 percent year-on-year to $32.6 billion, as oil sales increased 5.7 percent and non-oil rose 1.1 percent. Exports of agricultural goods surged 21.6 percent and those of manufacturing advanced 0.7 percent, with automotive sales growing 3.2 percent. In contrast, mining sales dropped 7.7 percent. Within non-oil exports, those to the US rose 1.5 percent while those to the rest of the world fell 1 percent.
10/26/2016 1:21:14 PM
Imports increased 1.7 percent to $34.2 billion, as purchases of oil products jumped 15.8 percent while non-oil increased at a slower 0.5 percent. Imports rose for intermediate goods (+2.7 percent) and capital goods (+1.3 percent) while fell 3.1 percent for consumer goods.
On a seasonally adjusted monthly basis, exports increased 7.4 percent and imports rose 8.7 percent.