Mexico: Trade balance – Surplus in April with manufacturing strong despite risks

  • April’s balance posted a US$1,500.6 million surplus, with exports up 0.2% m/m and imports with some payback at -8.1%

  • Despite the decline in some categories, we see results as favorable as most of them didn’t reverse March’s increase

  • While trade remains supported by external demand, challenges for faster growth remain due to scarcity of raw materials

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