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Mexico’s oil exports drop 35.6%

Mexico’s oil exports totaled $ 1.258 billion in June, a decrease of 35.6% year-on-year, the Inegi reported.

This amount was made up of $ 1.1 billion in crude oil sales and $ 158 million in exports of other oil products.

The monthly information with timely status presents figures by large aggregates, which include: total exports, oil and non-oil (by sectors), while imports include the breakdown by type of good (consumption, intermediate and capital), oil and non-oil oil companies, as well as the respective seasonally adjusted figures.

In June, the average price of the Mexican export crude oil mixture stood at $ 32.90 per barrel, a figure higher by $ 11.02 compared to the previous month, but lower by $ 23.95 compared to June 2019.

Regarding the volume of crude oil exported, it was located in the reference month at 1,114 million barrels per day, higher than the level of 1,062 million barrels per day in May and that of 0.995 million barrels per day in June 2019.

Oil exports and adjusted data

In the reported month, seasonally adjusted total exports showed a monthly increase of 75.57%, which originated from growths of 76.93% in non-oil exports and 49.67% in oil exports.

Within non-oil exports, manufacturers presented a monthly advance of 83.57 percent.

In turn, this rate was the result of increases of 40.94% in non-automotive manufacturers and, starting from a low comparison base, of 534.40% in automotive exports.

In June 2020, total merchandise imports showed a seasonally adjusted monthly increase of 22.24 percent.

This figure was the result of increases of 23.08% in non-oil imports and 11.08% in oil imports.

By type of good, monthly growth of 5.89% was observed in imports of consumer goods (advance of 4.17% in imports of non-oil consumer goods), of 27.21% in those of intermediate-use goods (increase of 28.50% in non-oil intermediate use goods) and 5.05% in capital goods imports.

 

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