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Mexico's trade deficit narrows in June as factory exports jump

Published 07/26/2016, 10:21 AM
Updated 07/26/2016, 10:30 AM
© Reuters. View of an assembly-for-export factory, or maquiladora, in the border city of Ciudad Juarez

© Reuters. View of an assembly-for-export factory, or maquiladora, in the border city of Ciudad Juarez

MEXICO CITY (Reuters) - Mexican factory exports jumped in June, helping to narrow the country's trade deficit to its lowest level in more than a year, figures from the national statistics agency showed on Tuesday.

Adjusted for seasonal swings, manufacturing exports rose by 6.1 percent compared with the previous month, the biggest increase in 11 months, the agency's figures showed. By contrast, non-oil consumer imports declined by 1.8 percent.

The figures helped to reduce Mexico's seasonally adjusted trade deficit to $918.3 million from $1.14 billion in May. The deficit was the lowest since March of last year.

Separately, data showed that economic activity in Mexico rose in May by 1.0 percent in seasonally-adjusted terms from the previous month, the biggest increase since November 2012.

© Reuters. View of an assembly-for-export factory, or maquiladora, in the border city of Ciudad Juarez

In non-seasonally adjusted terms, Mexico posted a trade deficit of $524 million, the figures showed.

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