ISTANBUL

Mexico saw a trade surplus of $1.99 billion in May, according to the country's statistical authority data released Thursday.

The figure is a significant increase from $99 million deficit recorded in the same month of last year, the National Institute of Statistics and Geography (INEGI) said in a statement.

In the first five months of 2024, however, the trade balance showed a deficit of approximately $4.46 billion, INEGI said.

In May, the value of merchandise exports reached almost $55.7 billion, up 5.4% from the same month of the previous year.

The value of imports totaled around $53.7 billion last month, an annual increase of 1.4%.