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Market Update: Mexico Trade Balance Switches to Surplus in April
Mexico reported a USD 1.501 billion trade surplus in April of 2021 from a USD 3.234 billion deficit in the corresponding month of the previous year and beat market expectations of a USD 0.85 billion surplus. Exports surged 75.6 percent from a year earlier to USD 40.772 billion, due to a 73.1 percent jump in shipments of the non-oil sector, mainly manufacturing industries (79.4 percent); while sales in the oil sector soared 139.0 percent. Meantime, imports went up 48.4 percent to USD 39.272 billion, on account of a 46.1 percent rise in non-oil purchases, namely intermediate goods (49.0 percent), consumer goods (62.9 percent), and capital goods (26.8 percent); and a 76.4 percent increase in oil imports. source: Instituto Nacional de Estadística y Geografía (INEGI) [/s2If]
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