Yet another trade surplus for Mexico...

For the sixth consecutive month, Mexico ran a surplus in its trade account. At US$107.9 million, June's surplus was the smallest of this year, but the fact that the trade account was in surplus while the economy is growing is striking. The 44.3% increase in oil revenues through June (compared to the first six months of 2010) was complemented by the 19.9% growth of non-oil exports.

In the first half of this year, the trade surplus totaled US$3.34 billion, 1,058.1% higher than in the first half of 2010. In the first half of 2009, the trade account was in deficit to the tune of US$1.84 billion. However, if oil is excluded from the calculation, the trade account showed a US$3.69 billion deficit through June; that was 21.0% less than in the first six months of 2010.