Mexico’s exports up 7.4% despite auto sector decline

The worth of Mexico’s exports accrued 7.4% annually successful August, outpacing the 4.7% year-over-year spike recorded successful the archetypal 8 months of 2025, according to information from the nationalist statistic bureau INEGI.

INEGI published its latest commercialized information past Friday, reporting that Mexico’s exports were worthy US $55.72 cardinal successful August and $425.15 cardinal successful the archetypal 8 months of the year.

The 4.7% yearly summation successful the worth of exports betwixt January and August puts Mexico connected way to acceptable a caller grounds for export gross this twelvemonth aft income exceeded $600 cardinal for the archetypal clip successful 2024.

The summation successful export gross successful 2025 has occurred contempt the United States — easy Mexico’s largest commercialized spouse — putting caller tariffs connected a scope of Mexican products. Mexico has benefited from adjacent greater U.S. protectionism against different U.S. commercialized partners, specified arsenic China.

“Despite tensions successful planetary commercialized and a slower economical maturation environment, the Mexican export assemblage has shown singular resilience truthful acold successful 2025, taking vantage of the reduced commercialized betwixt the United States and China to summation greater information successful U.S. imports,” said analysts from the Monex fiscal group.

Manufacturing assemblage records beardown export growth, but car gross is down 

The lion’s stock of Mexico’s export gross comes from the shipment overseas — particularly to the United States — of manufactured goods.

In August, gross from manufactured goods accrued 9% annually to $51.7 billion, oregon 93% of Mexico’s full export income.

Between January and August, manufacturing assemblage export gross accrued 6.5% to $387.1 billion, representing 91% of full export income.

Mexico’s manufacturing assemblage export income accrued successful August and successful the archetypal 8 months of the year, contempt gross from car exports declining. The yearly diminution successful automotive gross successful August was 1.2% to $16.16 billion, portion the alteration successful the archetypal 8 months of the twelvemonth was a much pronounced 4.1% to $123.43 billion.

The United States imposed tariffs connected airy vehicles made successful Mexico and different countries astir the satellite successful April. Mexican vehicles get a “discount” connected the 25% tariff arsenic their U.S. contented — 40% of full content, connected mean — is exempt from the duty.

Despite Mexico’s comparative vantage implicit galore different countries that export cars to the United States, the INEGI information indicates that the U.S. tariffs person wounded the ample Mexican car sector.

U.S. President Donald Trump’s announcement past week that his authorities would enforce a 25% tariff connected dense motortruck imports could origin a further deterioration successful export gross for the Mexican car sector.

The measure, which is acceptable to instrumentality effect connected Wednesday, is “particularly applicable for Mexico” due to the fact that dense motortruck exports “represent adjacent to 23%” of each of Mexico’s car assemblage exports, according to Monex analysts Janneth Quiroz and Kevin Louis Castro.

It remains to beryllium seen whether dense trucks made successful Mexico, oregon astatine slightest their U.S. content, volition beryllium exempt from the caller U.S. tariff.

Mining gross surges portion ag and lipid income slumps 

INEGI’s information besides shows that Mexico’s mining assemblage export gross accrued successful August and successful the archetypal 8 months of 2025. In contrast, income from the shipment overseas of cultivation products and lipid products declined annually successful some August and the January-August period.

Mexico is keeping much crude lipid astatine location arsenic it seeks to marque advancement toward the extremity of achieving self-sufficiency for fuel. The cultivation assemblage has been affected by climatic conditions, including drought and, much recently, dense rainfall successful immoderate parts of the country.

Exports successful August

• Mining assemblage gross accrued 41.3% to $1.13 billion.
• Oil assemblage gross declined 26.3% to $1.63 billion.
• Agricultural assemblage gross declined 14.3% to $1.24 billion.

Exports successful archetypal 8 months of 2025

• Mining assemblage gross accrued 24.4% to $8.37 billion.
• Oil assemblage gross declined 24.7% to $14.69 billion.
• Agricultural assemblage gross declined 8.1% to $14.98 billion.

Mexico successful Numbers: Agriculture

Despite export gains, Mexico inactive has a commercialized deficit 

INEGI’s information shows that the worth of Mexico’s imports declined 0.2% annually successful August and grew by conscionable 0.4% successful the archetypal 8 months of the year.

However, the diminution successful the outlay connected imports successful August and the dilatory gait of maturation truthful acold this twelvemonth didn’t let Mexico to notch up commercialized surpluses.

Mexico’s expenditure connected imports successful August was $57.66 billion, leaving it with a commercialized shortage conscionable shy of $2 cardinal past month.

The outlay connected imports betwixt January and August was $425.68 billion, leaving Mexico with a commercialized shortage successful that play of $530 million.

Mexico is aiming to trim its reliance connected imports, particularly from China and different Asian countries. One affirmative shown successful the latest INEGI information is that Mexico’s outlay connected overseas petroleum products declined 14% annually successful August and 9% successful the archetypal 8 months of the year.

With reports from El Economista and La Jornada