Macro Analysis /
Global

Mexico: Trade balance – Adjusting lower our 3Q21 GDP forecast after recent data

  • September’s trade balance posted a US$2,398.4 million deficit. Exports rose 3.0% m/m, and imports fell 0.5%

  • While this was positive, it still suggests an impact from supply shocks and an economic slowdown

  • Considering recent data, we adjust our 3Q21 GDP forecast to 0.1% q/q (5.4% y/y) from 0.6% (6.4% y/y)

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

Banorte
27 October 2021
Published by