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Mexico Surprises All Analysts With Record Trade Surplus

  • Surplus reaches $5.55 billion versus forecast of $1.55 billion
  • Imports crashed amid health crisis while food exports surged
    

Photographer: Sam Hodgson/Bloomberg

Mexico unexpectedly posted its biggest-ever trade surplus in June as its economic crisis caused imports to slump, while food exports surged.

The gap between exports and imports widened to $5.55 billion last month from a deficit of $3.52 billion in May, Mexico’s national statistics agency reported on its website on Monday. That was higher than expected by all eleven analysts in a Bloomberg survey, whose median forecast was for a surplus of $1.55 billion.