Mexico: Merchandise exports slide in June
Merchandise exports declined 5.7% in annual terms in June, contrasting May’s 5.4% increase. The reading was driven by lower exports of both oil and non-oil goods, and June’s result marked the sharpest drop since August 2020. Meanwhile, merchandise imports decreased 3.6% in annual terms in June (May: +1.4% yoy).
As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 1.0 billion shortfall in June (May 2024: USD 2.0 billion surplus; June 2023: USD 0.1 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 4.5 billion deficit in June, compared to the USD 3.4 billion deficit in May.