Macro Analysis /

Mexico: Trade balance – Modest impact in May because of Chinese lockdowns

  • The trade balance stood at -US$2,215.3mn in May, still with relevant distortions from prices

  • Exports grew 0.9% m/m, with imports at +0.4%. However, the latter showed some declines in intermediate and capital goods

  • With these results, effects from recent shocks do not seem to be as negative, possibly implying more dynamism in 2Q22

Juan Carlos Alderete Macal
Juan Carlos Alderete Macal

Director of Economic Research

Francisco Jose Flores Serrano
Francisco Jose Flores Serrano

Senior Economist, Mexico

27 June 2022
Published byBanorte


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