Mexico posts $71mn adjusted trade surplus in August

MEXICO CITY: Mexico posted a small trade surplus in August as gains in petrol exports made up for a slide in factory exports that drive Latin America's second-largest economy.

The trade surplus was $71 million in August when adjusted for seasonal swings, down from a revised $276.5 million deficit in July, the national statistics agency said on Monday.

Mexico's trade balance fluctuates with global demand for oil and appetites for its factory goods, most of which head over the northern border to the United States.

Non-petrol exports slid about 5 percent in the month to $24.2 billion while petrol exports increased 7.5 percent to $4.77 billion.

Factory exports slid 6.2 percent to $22.85 billion, their lowest since $22.7 billion in February.

While Mexico's central bank has said that it is open to lowering rates in order to boost the economy, the fluctuating value of the peso might give policymakers pause and investors do not see a cut in the near-term.

In non-seasonally adjusted terms, Mexico posted a trade deficit of $806 million in August, up from an unrevised $1.18 billion in July.

Copyright Reuters, 2011