Report published August 27, 2026
Scotiabank Latam Daily: Mexican International Trade & Peruvian Retail Sales Recap
Source and citation context
- Issuer
- Scotiabank
- Report date
- August 27, 2026
- Analysis as of
- Not stated in source
Authors / editors: Juan Manuel Herrera (Director), Jorge Selaive (Head Economist, Chile), Eduardo Suárez (VP, Latin America Economics), Rodolfo Mitchell (Director of Economic and Sectoral Analysis), Miguel Saldaña (Economist), Martha Cordova (Economic Research Specialist), Carlos Asmat (Senior Analyst)
Finvaulta summarizes Scotiabank's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Mexico's foreign trade continued posting double-digit gains in July 2026 with exports up 43.7% YoY and unemployment stable at 2.9%, while informality remained high at 56.2%. In Peru, 1H26 retail sales expanded 11.5% YoY to PEN 27.1bn, driven by currency strength, formal employment, and retail capacity expansion.
Key Takeaways
- 1.Mexico's July 2026 foreign trade grew strongly, with exports up 43.7% YoY and imports up 45.0% YoY, producing a monthly deficit of USD 848mn and a cumulative 1H surplus of USD 9.255bn.
- 2.Mexico's July unemployment rate held steady at 2.9%, but labor informality remained elevated at 56.2%.
- 3.Peru's retail sales grew 11.5% YoY in 1H26 to PEN 27.1bn, outperforming the broader commerce sector (+6.2%) driven by formal job growth, sol appreciation, and store capacity expansion.
Table of Contents
- MEXICO: EXPORTS AND IMPORTS CONTINUE TO POST DOUBLE-DIGIT GROWTH
- UNEMPLOYMENT REMAINS STABLE WHILE INFORMALITY STAYS ELEVATED
- PERU: RETAIL SALES OUTPACE THE BROADER COMMERCE SECTOR IN 1H26
- PERFORMANCE BY SEGMENT IN 1H26
Report data
Chart 1
| Metric | Estimate | Context |
|---|---|---|
| Mexico Exports | 81.4 USD billion | Total foreign trade exports in July 2026 |
| Mexico Imports | 82.3 USD billion | Total foreign trade imports in July 2026 |
| Mexico Trade Balance (Cumulative 1H) | 9.255 USD billion | Cumulative first-half trade balance |
| Mexico Unemployment Rate | 2.9% | Unemployment rate in July 2026 |
| Mexico Labor Informality Rate | 56.2% | Informality rate in July 2026 |
Reports in this series
Latam Daily is shown in chronological order through this edition, published on August 27, 2026.
Part of the Latam Daily series — view all 15 editions
Looking for the latest edition? latamdaily20260901 (Sep 1, 2026)
- May 10latamdaily20260508
- May 21latamdaily20260521
- May 25latamdaily20260522
- May 26latamdaily20260525
- Jun 1latamdaily20260601
- Jun 4latamdaily20260604
- Jun 6latamdaily20260605
- Jun 8latamdaily20260608
- Jun 9latamdaily20260609
- Jun 11latamdaily20260611
- Jun 18latamdaily20260618
- Jul 13latamdaily20260713
Document Preview
Access the Full Report
Get unlimited access to institutional research reports. Create an account to get started.
Authors / Editors
Reported Data Context
- Mexico Exports: 81.4 USD billion (2026-07) · Source: INEGI
- Mexico Imports: 82.3 USD billion (2026-07) · Source: INEGI
- Mexico Trade Balance (Cumulative 1H): 9.255 USD billion (1H26) · Source: INEGI
- Mexico Unemployment Rate: 2.9 % (2026-07) · Source: INEGI
- Mexico Labor Informality Rate: 56.2 % (2026-07) · Source: INEGI