Mexico's merchandise trade deficit increased from last year in August, and exceeded economists' expectations, data released by statistical office INEGI showed Wednesday.
The deficit increased to $979 million in August from $829 million in July. Economists were looking for a shortfall of $800 million.
Export of goods rose 0.6 percent on an annual basis to $31.663 billion. Shipments of non-oil products advanced 1.1 percent annually, while dispatches of petroleum goods decreased 2 percent.
The value of imports advanced 1.1 percent year-on-year to to $32.642 billion. There was a 1.8 percent gain in arrivals of non-oil products, and a 4.2 percent fall in oil imports.
Compared to July, the value of imports increased a seasonally adjusted 1.24 percent in August, while shipments decreased 0.33 percent.
In the eight months ended August, the trade balance was a surplus of $1.884 billion. Exports and imports increased 6.8 percent and 6.5 percent respectively from the same period a year earlier, data showed.
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