Puerto Vallarta News

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

A general view of an assembly-for-export factory, or maquiladora, in the border city of Ciudad Juarez March 10, 2009. Mexico's sliding peso currency is a blessing for the country's factories on the U.S. border, cutting labor costs and saving companies from collapse amid the global crisis, an industry leader says. REUTERS/Alejandro Bringas

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.

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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)