Mexico Prelim June Trade Bal $601 Mln,YTD Surplus $3.29 Bln
--Ex-Oil Deficit Plunges to $1 Mln, Ex-Oil Exports Deficit $3 Bln
MEXICO CITY (MNI) - Mexico posted a trade surplus of $601 million in June, up from $91 million in the same month of last year, while the deficit excluding oil exports was $3 billion, a 38.6% year-over-year drop, state statistics agency INEGI said in the preliminary report Thursday.
In the year-to-date, the trade surplus increased 4.5% compared to the January-June period of 2011, to $3.29 billion, INEGI said.
Exports in June totaled $30.26 billion, while imports hit $29.66, the report said.
Petroleum exports were $3.64 billion, a 28% drop from the same month of 2011, while petroleum imports totaled $3.62 billion, a 4.8% increase, the data showed.
The trade deficit excluding oil exports and imports fell to just $1 million, from $132 million in May, as petroleum imports fell faster than exports in the month, INEGI said.
The average price for the Mexican basket of crude fell to $90.07 a barrel, a $13.04 drop from May, and $12.92 lower than June 2011, the report said.
Even with the falling price, crude export volume rose to 1.2 million barrels per day, from 1.198 million bpd in the prior month, but below the 1.425 million bpd in the same month of last year, INEGI said.
Another bright spot in the report showed auto exports to the United States jumped 13.3%, its third month of double-digit increases, as non-auto exports were essentially unchanged. Auto exports to the rest of the world jumped 16.7%, while non-oil exports rose 7.4%.
** Market News International - Mexico City **