Merchandise exports rose 82.7% yoy in June, accelerating from the 47.0% increase in May.
Merchandise imports, meanwhile, rose 24.5% in June, easing from the 53.0% expansion in May, and marking the weakest increase in 11 months. The commodity trade deficit widened to $ 2.0 billion in June from the $ 1.7 billion deficit recorded in May, however the trend has improved, with the trade balance of goods lagging behind 12 months recorded a deficit of USD 18.5 billion in June (May: USD 19.1 billion deficit).
LatinFocus Consensus Forecast panel members predict that merchandise exports will increase by 14.1% in 2022 and merchandise imports will increase by 14.6%, resulting in a trade surplus of $ 3.6 billion. In 2023 our panel estimates that exports of goods will contract by 0.8% and imports will grow by 1.7%, with a trade surplus of 2.9 billion dollars.