Economics
Mexico Posts Record-High Trade Surplus Even After Nafta Redo
- December auto exports rose while oil-product imports fell
- Reduction in oil-product imports helping surplus: Barclays
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Mexico posted its highest trade surplus on record in December despite efforts by U.S. President Donald Trump to reduce the nation’s shipments to his country by redoing the North American Free Trade Agreement.
Mexico, which sends the vast majority of its exports to the U.S., saw its surplus soar to $1.8 billion, the most for any month since data has been collected in 1999. Automotive exports rose 7.4 percent from a year earlier to $11.5 billion dollars, while oil-product imports fell 15.5 percent to $1.38 billion.