Macro Analysis /
GlobalMexico: 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
Director of Economic Research @ Banorte
Francisco Jose Flores Serrano
Senior Economist, Mexico @ Banorte
27 June 2022
Published byBanorte
