Mexico reduces trade deficit in February
The Mexican government disclosed that the country's trade deficit decreased from $1.15 billion in January 2005 to $507 million in February 2005, thanks in part to strong consumer demand. Imports rose 13.6% year on year in February while exports increased 11.5% year on year. In late 2003, Mexico's economy began its recovery from a three-year slump. Manufacturing exports have been relatively weak in recent months, but domestic demand has picked up the slack.