Mexico has made a significant turnaround in its trade balance, recording a surplus in July 2024 following a series of trade deficits. Data updated on 27 August 2024 indicates that Mexico’s trade balance reached $1.168 billion in July. This marks a considerable improvement from the previous month’s deficit of $1.944 billion recorded in June 2024.The shift from a negative to a positive trade balance signals a boost in Mexico’s export activities or a reduction in imports. This unexpected turn could reflect a variety of factors including changes in global demand, fluctuations in commodity prices, or governmental trade policies. Economists will be closely watching the next set of data to determine if this surplus trend continues, indicating potential economic stability and growth for Mexico.The material has been provided by InstaForex Company – www.instaforex.com
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