Mexico’s trade deficit narrows in June as factory exports jump

Mexican factory exports jumped in June, helping to narrow the country’s trade deficit to its lowest level in more than a year, figures from the national statistics agency showed on Tuesday.

Adjusted for seasonal swings, manufacturing exports rose by 6.1 percent compared with the previous month, the biggest increase in 11 months, the agency’s figures showed. By contrast, non-oil consumer imports declined by 1.8 percent.

The figures helped to reduce Mexico’s seasonally adjusted trade deficit to $918.3 million from $1.14 billion in May. The deficit was the lowest since March of last year.

Separately, data showed that economic activity in Mexico rose in May by 1.0 percent in seasonally-adjusted terms from the previous month, the biggest increase since November 2012.

In non-seasonally adjusted terms, Mexico posted a trade deficit of $524 million, the figures showed.

(Writing by Dave Graham; Editing by Marguerita Choy)

Puerto Vallarta News

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