Imports from Mexico rose 43% in August, to 40.313 million dollars, informed the Inegi.

This figure was a reflection of increases of 37.5% in non-oil imports and 113.5% in oil imports.

When considering Mexico’s imports by type of good, annual increases of 43.9% were observed in imports of consumer goods, 44.5% in intermediate-use goods and 31.2% in capital goods.

Imports from Mexico

Timely foreign trade information for August 2021 indicates a trade deficit of $ 3.902 billion.

This balance compares with the deficit of 4.063 million dollars reported in July.

Thus, the reduction in the deficit between July and August originated from the combination of a decrease in the deficit of the balance of non-oil products, which went from 1,951 million dollars in July to 1,401 million dollars in August, and a higher deficit in the balance of oil products, which went from 2,112 million dollars to 2,501 million dollars.

In the first eight months of the current year, the trade balance presented a deficit of 6.870 million dollars

Oil sales

In the eighth month of 2021, the value of oil exports was 2,572 million dollars.

This amount was made up of 2,192 million dollars of crude oil sales2 and 379 million dollars of exports of other petroleum products.

In that month, the average price of the Mexican crude oil export mix stood at 64.38 dollars per barrel, a figure lower by 3.92 dollars compared to the previous month, but higher by 25.28 dollars compared to the same month of 2020.

Regarding the volume of crude oil exported, it stood at 1,099 million barrels per day in the reference month, a level lower than the 1,173 million barrels per day in July and the 1,190 million barrels per day in August last year.

With seasonally adjusted figures, in August 2021 the trade balance registered a deficit of 3,196 million dollars, while in July the deficit was 2,784 million dollars.

The increase in the seasonally adjusted deficit between July and August was derived from a larger deficit in the balance of non-oil products, which went from 584 million dollars in July to 827 million dollars in August, and a widening of the deficit of the balance of oil products, which went from 2,200 million dollars to 2,370 million dollars in the same comparison.