ISTANBUL 

Mexico saw a trade deficit of almost $1.04 billion in June, according to the country's statistical authority data released Friday.

While the figure is a sharp reversal from $1.99 billion trade surplus recorded in May, the market expectation for the figure was to show a $1 billion surplus.

In the first six months of 2024, the trade balance showed a deficit of approximately $5.5 billion, the National Institute of Statistics and Geography (INEGI) said in a statement.

In June, the value of merchandise exports was $48.9 billion, down 5.7% from the same month of the previous year.

The value of imports totaled around $49.9 billion last month, an annual decrease of 3.6%, said INEGI.