Mexico’s February oil export revenues fall 56.4% year on year

Mexico City (Platts) – Mexico’s February oil sales revenue plunged 56.4% year on year to $1.66
billion, the National Statistics Institute, or Inegi, reported Wednesday.

Despite the oil sales plunge, the country’s trade deficit fell more than
half to $491 million in February 2009, compared with $1.081 billion in
February 2008.



Total exports were $16.12 billion, 29.6% down on February 2008.

Despite both exports and imports tumbling in almost equal measure, the
deficit narrowed as Mexico’s weaker currency made exports more profitable and
imports more expensive.

Platts