Mexico's Trade Balance Slips To Deficit In April
Mexico's merchandise trade balance turned to a deficit in April as shipments increased at a notably slower rate than imports, data released by statistical office INEGI showed Monday.
The balance of trade was a deficit of $1.23 billion in April, compared to the $419 million surplus recorded a year earlier.
Export of goods increased 6.4 percent annually to $32.86 billion in April. Shipments of non-oil products advanced 7.7 percent from a year earlier, while oil exports decreased by 1.7 percent.
At the same time, merchandise imports climbed 11.8 percent annually to $34.09 billion during the month. The upturn was driven by a 14.3 percent spike in oil imports and an 11.5 percent gain in arrivals of non-oil commodities.
On a monthly basis, the value of exports and imports decreased 2.22 percent and 0.54 percent respectively in April, the agency said.
In the January-April period, exports edged up 0.6 percent from the corresponding period a year earlier, while imports advanced by 4.3 percent.
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