México Balanza Comercial

Mexico recorded a trade deficit of $0.579 billion in September of 2024, narrowing sharply from the $1.5 billion deficit in the corresponding period of the previous year, marking the lowest trade gap for the month since 2019. Imports fell by 1.8% annually to $50.2 billion, pressured by a 33.8% plunge in oil imports amid the fall in crude oil prices and the slowdown in Mexican goods output, warranting less fuel demand. Additionally, imports of capital goods fell by 4.5%, while nonpetroleum imports rose by 1.4%. In turn, export turnover was unchanged in the period at $49.6 billion. Foreign sales of petroleum products sank by 44.9%, offsetting a 3.3% increase in non-petroleum exports.