Mexico' merchandise trade surplus increased from last year in March, and far exceeded economists' forecast, latest data showed Friday.
The trade surplus increased to $1.71 billion in March from $1.58 billion in the same month a year earlier, statistical office INEGI said. Economists had forecast the balance to decline to $391 million.
Goods exports decreased 1.8 percent annually to $31.83 billion in March. Sequentially, the value of shipments increased a seasonally adjusted 1.58 percent.
At the same time, imports dropped 2.3 percent year-on-year to $30.12 billion during the month. On a seasonally adjusted basis, external purchases moved up by 1.23 percent from the previous month.
During the three months ended March, the balance was a deficit of $1.11 billion. Exports decreased by 1.6 percent from the same period a year earlier, while imports gained 1.6 percent, data showed.
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