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LatinNews Daily - 29 June 2020

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In brief: Mexico’s trade balance continues in the negative

* Mexico’s national statistics institute (Inegi) has published trade figures for May, which show Mexico registered a trade deficit of US$3.5bn, a significant reduction compared with the US$957m trade surplus recorded in the same month of 2019. The negative trade balance follows a US$3bn deficit in April and makes for a total trade deficit of US$2.88bn over the first five months of the year. Exports in May totalled US$18.07bn, a 56.7% year-on-year fall, and imports totalled US$21.59bn, a 47.1% annual reduction. Inegi specified that non-oil exports fell by 56.3% in May compared with May 2019 while oil exports fell 63.8%. Non-oil exports to the US specifically fell by 57.2% while those to the rest of the world registered a 51.8% decrease.