Macroeconomic Forecast Mexico

September 2006 | Macroeconomic Forecasts

BMI View: Mexico's trade balance registered a deficit of US$319mn in July, according to national data service INEGI. This figure was narrower than expected and reflects solid export growth of 21.4% y-o-y (US$19.88bn). Exports have bounced back from a difficult H105, having been exposed to increased competition from Asia. In particular, oil and manufacturing exports continued to perform impressively, expanding by 22.4% and 20.67% respectively. Imports expanded by 18.1% y-o-y in July, buoyed by increasing domestic consumption. The cumulative trade balance stands at a surplus of US$303mn, which is partly a product of high prices for oil exports, but in

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