Mexico Posts Record-High Trade Surplus in December

January 28, 2019 at 3:51 PM

Mexico says its trade surplus with the U.S. climbed to a monthly high of $1.8 billion, including a 7% gain for automotive-related exports to a total of $11.5 billion.

Mexico’s booming auto exports, most of which are to the U.S., was offset by a 16% drop in oil imports to $1.4 billion.

The upswing in auto exports come as Mexico, Canada and the U.S. move toward ratifying updates to the North American Free Trade Agreement. Many of the changes demanded by the U.S. are designed to better balance trade between Mexico and the U.S.