- Mexico: Trade balance posts strong growth in May
In May, the trade balance showed significant increases across its components (chart 1). Exports totaled USD 69.5 billion, equivalent to an annual increase of 25.4%, compared with 32.6% previously, continuing the positive trend observed over the last three months. Within exports, non-automotive manufacturing stood out with a 38.0% increase, while automotive exports contracted by 2.2%. Non-oil extractive exports also posted a notable 88.7% increase, while oil exports advanced 18.0%.
On the imports side, imports totaled USD 67.3 billion, growing 24.0%, compared with 24.1% previously. The largest increase was driven by intermediate goods, which rose 29.8%, followed by consumer goods at 6.5% and capital goods at 1.6%. Cumulatively, the trade balance recorded a surplus of USD 5.8 billion, with exports increasing 22.6% to USD 317.2 billion and imports rising 20.8% to USD 311.4 billion.
—Rodolfo Mitchell, Miguel Saldaña & Martha Cordova
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