Mexico’s trade deficit narrowed in June from the previous month, although the shortfall was wider than expected, figures from statistical office INEGI showed Monday.
The trade deficit narrowed to $749 million in June from $1.017 billion in May. Economists had forecast a shortfall of $501.4 million. In June 2014, the country registered a surplus of $386 million.
On seasonally adjusted basis, trade deficit narrowed to $1.354 billion in June from $1.779 billion in the previous month.
Total exports increased 1.2 percent annually in June, with non-oil shipments rising 6.8 percent. However, oil exports fell 41 percent. Month-on-month, exports rose a seasonally adjusted 3.6 percent.
Imports grew 4.7 percent from a year ago, with non-oil imports logging 6.8 percent gain. However, oil imports fell 14.2 percent. Imports rose a seasonally adjusted 2.1 percent from the previous month.
For the first half of 2015, the trade balance revealed a deficit of $4.052 billion, wider than a deficit of $299 million recorded in the corresponding period of last year. Exports dropped 21 percent year-on-year in the first half and imports declined 0.2 percent.
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