The drop in oil prices and a weakness in the world economy caused a trade balance deficit in Mexico of 3,618 million dollars.
Last month’s deficit is the highest for an August on record.
In the monthly comparison, both imports and exports suffered a contraction of 2.1% and 0.86%, respectively.
“Today’s data is one of the first warnings about the deterioration of the outlook in the third quarter, as a good part of the commercial categories showed weakness. The drop in oil prices responds at the same time to the worsening of the global economic outlook, therefore, we believe that this trend will be reinforced in the coming months,” highlighted a Monex report.
On the export side, these amounted to 48,451 million dollars, which implies a drop of 420 million dollars compared to 48,871 million dollars in July.
Imports went from 53,185 million dollars to 52,070 million dollars, which implies a contraction of 1,115 million dollars.
