Mexico records record trade surplus with the US
Mexico reached a record in its trade surplus with the United States in March, of $ 10,058.5 million.
In sum, with the whole world, the United States had a deficit of $ 44.4 billion.
That amount was above market expectations of $ 44.2 billion, and of what was reported in February of $ 39.9 billion.
The largest trade surplus with the United States was held by China, of $ 11.8 billion, according to the Census Bureau.
Other positive balances were those of Germany (6,000 million dollars), Ireland (5,900 million), Japan (5,600 million), Switzerland (4,800 million), Vietnam (4,100 million). Malaysia (3.1 billion) and Italy (2.7 billion).
Merchandise exports from the United States to Mexico fell 8.2% in March to $ 20,048 million.
Conversely, Mexico’s exports to the market of its northern neighbor totaled $ 30,107 million in March, a year-on-year drop of 3.9 percent.
The trade balance (net exports, sometimes symbolized as NX) is the difference between the monetary value of a nation’s exports and imports during a given period.
Sometimes a distinction is made between a trade balance of goods and that of services.
If a country exports a higher value than what it imports, it has a trade surplus or positive balance, and conversely, if a country imports a higher value than it exports, it has a trade deficit or negative balance.