Mexico whittles trade deficit
Mexico's trade deficit declined for the second consecutive year in 2003 to $5.6 billion from $7.9 billion in 2002, according to the Bank of Mexico.
The report said higher prices for Mexico's oil exports accounted for most of the decrease. Manufacturing exports were weak, showing a 0.4 percent decline, but the sector appeared to bounce back in December with a 10.2 percent increase in value on an annualized basis. Overall exports were up 11.2 percent in December from the previous year.