2000 trade figures are worse than expected.

MEXICO CITY -- Preliminary figures show Mexico's trade deficit rose 43.7% from $5.8 billion in 1999 to $8 billion last year. In December alone the deficit was $1.5 billion. The figures are disappointing because it comes despite decade-high oil prices. As oil prices are expected to show a lower

Mexico has a trade surplus with the United States. But its deficits with Europe and Asia more than compensate.

The 2000 trade results have fueled protests from exporters who claim the peso is overvalued. Bank of Mexico and Treasury officials say that the peso's value reflect what the market believes it is worth. The exchange rate briefly moved over the psychological important 10 peso per dollar mark in mid-January, before dipping below soon afterward.