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Puerto Vallarta News NetworkBusiness News 

Mexico's Trade Deficit Widens In June
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July 24, 2010



Mexico's trade deficit widened to US$340.5 million in June from US$168 million recorded last year, official data showed Friday.

The figures were in sharp contrast with the economists' forecast for a surplus of US$100 million. In May, trade balance recorded a surplus of US$179 million, the statistical office INEGI said.

During the first half of the year, the trade balance posted a surplus of US$312 million. In June, merchandise exports increased 28.8% annually. Non-oil exports grew 35.2% year-on-year, while oil export fell 7.9%.

Imports were up 29.5% year-on-year, driven by 24.7% rise in oil purchases and 30% growth in non-oil imports. Month-on-month, exports of goods recorded a seasonally adjusted 5.22% decrease, while imports were down 4.41%.

Meanwhile, a separate release by the statistical agency showed that the unemployment rate dropped slightly to 5.05% in June from 5.13% in May. Economists were looking for a jobless rate of 5.1%. A year earlier, the rate was 5.17%. At the same time, the seasonally adjusted jobless rate was 5.51%, down from 5.61% in May.

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