México Balanza Comercial

Mexico recorded a trade surplus of $2.6 billion in December of 2024, firmly above market expectations of $1.5 billion but narrowing sharply from the $4.3 billion in the corresponding period of the previous year. Imports expanded by 9.1% annually to $49.1 billion in the period, carried by a surge in petroleum goods (15% to $3.2 billion) and higher non-petroleum goods (8.8% to $45.9 billion), which were supported by non-petroleum intermediate goods (11.9% to $34.7 billion). On the other hand, exports rose by a softer 4.9% annually to $51.7 billion, as the sharp expansion in sales of extractive goods (57.1% to $1.2 billion) and manufacturing goods (4.9% to $46.2 billion) were offset by a sharp contraction for petroleum goods (-16% to $2.2 billion). For the full 2024, Mexico posted a trade deficit of $8.2 billion, 50% wider than that of 2023.