Mexico recuperates some growth in global trade, says World Trade Organization report

El Economista

Mexico's trade with the world has recovered in recent months, after shrinking an average of 2.2 percent from January to May of 2009, said the Ministry of Finance and Public Credit (SHCP).

According to the World Trade Organization's "Annual Report on World Trade 2009," Mexico's trade contracted this year after increasing 8.6 percent in 2008 and 9.7 percent in 2007.

Last year Mexico's trade activity represented 2.0 percent of global trade, ranking in sixteenth place globally as an exporter and fourteenth place as an importer.

Despite the downturn this year, however, "in recent months, total trade between Mexico and the world has been recovering," said the WTO.

In June, Mexico's trade increased by 5.2 percent over the previous month after shrinking 2.2 percent on average during the first five months of the year.

After falling an average of 1.5 percent from January to May, total exports grew 3.9 percent, with oil increaseing 10.7 percent.

Meanwhile, imports increased 6.4 percent in June after shrinking an average 2.8 percent per month during the first five months of 2009.

Overall, predicted the WTO report, the volume of world trade will shrink by 10 percent this year.

eleconomista.com.mx/notas-online/finanzas/2009/08/30/mexico-recupera-terreno-comercio-global-shcp