Mexico Visible Trade Deficit Rises In August

Mexico Visible Trade Deficit Rises In August


Mexico's merchandise trade deficit increased from last year in August, and exceeded economists' expectations, data released by statistical office INEGI showed Wednesday.
The deficit increased to $979 million in August from $829 million in July. Economists were looking for a shortfall of $800 million.
Export of goods rose 0.6 percent on an annual basis to $31.663 billion. Shipments of non-oil products advanced 1.1 percent annually, while dispatches of petroleum goods decreased 2 percent.
The value of imports advanced 1.1 percent year-on-year to to $32.642 billion. There was a 1.8 percent gain in arrivals of non-oil products, and a 4.2 percent fall in oil imports.
Compared to July, the value of imports increased a seasonally adjusted 1.24 percent in August, while shipments decreased 0.33 percent.
In the eight months ended August, the trade balance was a surplus of $1.884 billion. Exports and imports increased 6.8 percent and 6.5 percent respectively from the same period a year earlier, data showed.