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Mexico’s oil exports rise 106% in October

The value of Mexico‘s oil exports was 2,772 million dollars in October, a year-on-year increase of 106%, Inegi reported.

Inside, this amount was made up of 2,160 million dollars of crude oil sales and 612 million dollars of exports of other petroleum products.

In that month, the average price of the Mexican crude oil export mix stood at 74.46 dollars per barrel, a figure higher by 7.53 dollars compared to the previous month and 35.53 dollars compared to October 2020.

Regarding the volume of crude oil exported, it stood at 0.936 million barrels per day in the reference month, a level lower than the 0.983 million barrels per day in September, but higher than the 0.908 million barrels per day in the tenth month of a before year.

The value of merchandise exports last October was 41,957 million dollars, an amount similar to that of the same month of 2020. Said behavior was the net result of a 105.9% advance in oil exports and a 3.5% decrease in oil exports. not oil companies.

Within non-oil exports, those directed to the United States fell 2.6% at an annual rate and those channeled to the rest of the world did so by 7.7 percent.

Oil exports

In the period January-October 2021, the value of total exports totaled 400,945 million dollars, which meant an annual increase of 19.4 percent. This rate was derived from increases of 17.4% in non-oil exports and 67.3% in oil exports.

Export Structure

The structure of the value of merchandise exports during the first ten months of 2021 was as follows: manufactured goods 88.2%, oil products 5.8%, agricultural goods 4% and non-oil extractive products 2%.

Total Imports of Merchandise

The value of merchandise imports in October 2021 stood at 44,658 million dollars, which represented an annual growth of 25.1 percent.

Likewise, the accumulated value of total imports in the first ten months of this year amounted to 412,914 million dollars, an amount greater by 32.8% than that observed in the same period of 2020.

However, non-oil imports increased at an annual rate of 29.4%, while oil imports increased by 71.5 percent.

 

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