LatinNews Daily - 28 July 2020

* Mexico’s national statistics institute (Inegi) has released trade figures which show that the country’s exports totalled US$33.07bn in June, a 12.8% drop on June 2019, while imports reached US$27.53bn, a 22.2% decline on the same month in 2019. This leaves a trade surplus of US$5.55bn, bringing the six-month total to a surplus of US$2.66bn, overturning a significant drop in exports brought on by the coronavirus (Covid-19) pandemic. In June, the month in which the government began reopening the economy following the confinement implemented to stop the spread of Covid-19, Mexico’s trade surplus more than doubled the US$2.54bn surplus recorded in the same month in 2019, and stood in stark contrast to the trade deficits registered in May and April of US$3.5bn and US$3bn respectively. Seasonally-adjusted figures also showed that Mexico’s exports in June were up 75.57%, on May while imports were up 22.24%.

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