Mexico recorded a trade deficit of USD 585 million in February of 2024, less than one-third of the USD 1.889 billion from the corresponding period of the previous year, and compared to market expectations of a USD 200 million gap. Exports expanded by 13% to USD 50.721 billion, lifted by a 13.3% jump in foreign sales of manufactured goods, which were carried by goods in the automotive industry (26.9%). Exports were also higher for petroleum products (15.7%), but contracted for goods from other extractive industries (-7.6%). In the meantime, imports grew by a softer 9.7% to USD 51.306 in the period, as growth in foreign purchases of intermediate goods (7.9%) and consumer goods (13.9%) offset a decline in imports of petroleum products (-33.1%), largely due to the normalization of energy prices. source: Instituto Nacional de Estadística y Geografía (INEGI)

Mexico recorded a trade deficit of 584.73 USD Million in February of 2024. Balance of Trade in Mexico averaged -298.18 USD Million from 1980 until 2024, reaching an all time high of 6274.69 USD Million in December of 2020 and a record low of -6262.32 USD Million in January of 2022. This page provides the latest reported value for - Mexico Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Mexico Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on April of 2024.

Mexico recorded a trade deficit of 584.73 USD Million in February of 2024. Balance of Trade in Mexico is expected to be -2930.00 USD Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Mexico Balance of Trade is projected to trend around 407.00 USD Million in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-27 12:00 PM
Balance of Trade
Jan $-4.315B $4.242B $-2.286B $-2.8B
2024-03-27 12:00 PM
Balance of Trade
Feb $-0.585B $-4.315B $-0.2B $-2.75B
2024-04-26 12:00 PM
Balance of Trade
Mar $-0.585B $0.7B $0.55B


Related Last Previous Unit Reference
Auto Exports YoY 286.00 282.61 Thousand Units Mar 2024
Balance of Trade -584.73 -4314.65 USD Million Feb 2024
Exports 50721.08 41957.20 USD Million Feb 2024
Imports 51305.81 46271.85 USD Million Feb 2024
Non Oil Exports 48098.28 39236.50 USD Million Feb 2024
Oil Exports 2622.80 2720.70 USD Million Feb 2024

Mexico Balance of Trade
Mexico's main exports are manufactured products (88 percent of total shipments) , followed by oil and oil products (7 percent), the agricultural sector with (4 percent). Main imports are: metallic products, machinery and equipment (59 percent of total purchases), oil products (12 percent) and agricultural goods (3 percent). The country's top trading partner is the United States (72 percent of total exports and 38 percent of total imports). Others include: China, Japan and Germany. In 2022, trade between Mexico and the United States reached USD 738 billion, with Mexico posting a surplus of near USD 208 billion.
Actual Previous Highest Lowest Dates Unit Frequency
-584.73 -4314.65 6274.69 -6262.32 1980 - 2024 USD Million Monthly
NSA

News Stream
Mexican Trade Gap Narrows Sharply
Mexico recorded a trade deficit of USD 585 million in February of 2024, less than one-third of the USD 1.889 billion from the corresponding period of the previous year, and compared to market expectations of a USD 200 million gap. Exports expanded by 13% to USD 50.721 billion, lifted by a 13.3% jump in foreign sales of manufactured goods, which were carried by goods in the automotive industry (26.9%). Exports were also higher for petroleum products (15.7%), but contracted for goods from other extractive industries (-7.6%). In the meantime, imports grew by a softer 9.7% to USD 51.306 in the period, as growth in foreign purchases of intermediate goods (7.9%) and consumer goods (13.9%) offset a decline in imports of petroleum products (-33.1%), largely due to the normalization of energy prices.
2024-03-27
Mexican Trade Deficit Unexpectedly Widens
Mexico recorded a trade deficit of USD 4.315 billion in January of 2023, widening from the USD 4.106 billion gap in the corresponding period of the previous year, and nearly twice the market expectations of a USD 2.3 billion deficit. It was the largest gap since August of 2022 as exports contracted by 1.5% to USD 41.957 billion. Foreign sales dropped for manufactured goods (-2% to USD 35.57 billion) amid a sharp decline in automotive industry exports (-6.5% to USD 12.721 billion), while petro-related sales rose by 0.2% to USD 2.721 billion. In the meantime, imports dropped by a slower 1% to USD 46.217 billion in the period, as a plunge in petro-related industries (-38% to USD 3.443 billion) offset an uptick in non-petroluem industries (4% to USD 42.828 billion).
2024-02-27
Mexico Trade Surplus Substantially Larger than Expected
Mexico’s trade surplus surged to USD 4.242 billion in December of 2023 from USD 0.983 billion in the same month of the previous year, well above analysts’ expectations of a USD 1.4 billion surplus. Exports declined 0.2 percent from a year earlier to USD 49.250 billion, of which non-oil sales rose 0.4 percent to USD 46.652 billion, and oil exports fell 8.7 percent to USD 2.598 billion. Non-oil exports to the US increased by 2.0 percent, and those to the rest of the world dropped by 7.5 percent. Meanwhile, imports plunged 6.9 percent to USD 45.007 billion on lower oil imports (-45.8 percent to USD 2.758 billion) and a drop in non-oil purchases (-2.3 percent to USD 42.249 billion). For the full year of 2023, the trade account deficit narrowed by 79.7 percent to -5.464 billion.
2024-01-26