Mexico’s Trade Deficit Widens in September

10/26/16 The Wall Street Journal

MEXICO CITY—Mexico’s trade deficit increased in September as imports of petroleum products and components outpaced growth in crude oil and factory exports.

Exports last month rose 1.4% from a year earlier to $32.62 billion, while imports grew 1.7% to $34.23 billion, for a deficit of $1.61 billion, the National Statistics Institute said Wednesday. It was wider than the year-ago deficit of $1.47 billion and the expected deficit of $535 million.

Petroleum exports rose 5.7% from a year before to $1.89 billion as state oil company Petróleos Mexicanos increased its crude shipments to 1.425 million barrels a day from 1.169 million. The increase last month coincided with a sharp drop in Pemex’s refinery output.

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