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Mexico’s trade balance registered a significant deficit in August

Mexico’s trade balance registered a significant deficit in August

Mexico City, Sep 28 (Prensa Latina) Mexico's trade balance registered a significant deficit in August of 3.618 billion dollars, the National Institute of Statistics and Geography (Inegi) announced.

The agency explained that this is a consequence of the drop in Mexican exports with seasonally adjusted figures.

It explained that this economic record -which lists the difference between goods sold abroad and those acquired from other countries- is, however, the lowest negative balance in the quarter, although it already accumulates nine months of deficits in a row.

Amid fears of an economic recession, mainly in the United States and Europe, Mexican exports totaled more than 48,451 billion dollars in the reference period, 0,86% less than last July, its second consecutive decline.

This was due to the 14,82% monthly drop in oil sales, the largest drop in the last 28 months, after crude oil prices fell below 100 dollars per barrel.

On the other hand, imports amounted to 52.69 billion dollars, which represented a 2,10% monthly drop, also the second in a row.

In the first eight months of 2022, the trade balance presented a deficit of 24.402 billion dollars, according to Inegi.

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