LatinNews Daily - 28 August 2026

*Mexico’s national statistics institute (Inegi) has announced a trade deficit of US$848m in July, reversing a US$4.06bn surplus in June, as a surge in imports outpaced strong export growth. Exports rose 43.7% year-on-year to US$81.42bn, driven by a 45.0% rise in non-oil exports and a 6.8% increase in oil exports. Imports climbed 45.0% to US$82.27bn. According to Inegi, the drop in the trade balance was the result of a reduction in the surplus of the non-oil exports – the balance of which fell to US$2.81bn in July from US$7.46bn in June – as well as a larger deficit in oil exports, a deficit which grew to US$3.66bn up from US$3.40bn. In the first seven months of the year, total exports were US$471.39bn while total imports were US$462.13bn, leaving a surplus of US$9.26bn.