Mexico: Trade balance–Higher imports,still with no evidence of shocks from China

  • The trade balance registered a US$1,884.1mn deficit in April, as prices, including oil, remained high

  • Exports and imports rose 0.9% and 5.2% m/m, each. In the latter, we note an increase in capital and intermediate goods

  • We see more challenging conditions for trade, considering shocks from Chinese lockdowns and the ongoing war in Ukraine

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