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Article: Southland exports to Mexico might revive in coming months. (southern California)(Special Report: International Trade)
- Article from:
- Los Angeles Business Journal
- Article date:
- October 16, 1995
- Author:
CopyrightCOPYRIGHT 1995 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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U.S. exports to Mexico fell sharply in the first half of 1995, following the peso's dramatic devaluation against the dollar last December. But the erosion of exports appears to have tapered off since the peso stabilized somewhat in June, and some foreign traders are cautiously optimistic that Southland sales to Mexico may start to improve in coming months.
The peso's slide began in mid-December, when Mexican President Ernesto Zedillo announced that the country's foreign exchange reserves were drained to unsustainably low levels, due to the a deteriorating economic situation there. A number of factors caused the economic decline, including Mexico's political ...