Exports grow 7.6% and reach a record level: Inegi

Mexican exports grew 7.63 percent annually in 2025, reaching 664,837.2 million dollars, an unprecedented level, driven by special machinery and equipment for various industries and equipment for electrical and electronic devices, revealed timely data from the National Institute of Statistics and Geography (Inegi).

The United States was the main driver of Mexican trade in 2025, as 83.70 percent of Mexican exports are directed to that market, slightly below the 2024 percentage of 84.06, but still reflecting high economic integration.

The rest of the world’s share increased from 15.94 to 16.30 percent.

When releasing the trade balance report, Inegi confirmed the resilience of Mexico’s export sector, which had its best record since 1991, despite persistent tensions with the United States, its main trading partner, which embarked on a global tariff offensive launched by President Donald Trump.

According to official data, exports consisted of non-oil exports, for 643,592 million dollars, and oil exports, for 21,246 million dollars.

While extractive exports grew 26.9 percent in 2025 compared to 2024; Agricultural industries contracted 10.8 percent, due to tariffs on some products.

Although manufacturing sales abroad grew 9.8 percent, automotive companies fell 4.2 percent, which was offset by non-automotive companies that rose 17.3 percent annually, driven by computer equipment.

In 2025, the value of oil exports (21,246 million dollars) was lower than the 28,860 million reported in 2024. In this regard, the average price of the Mexican crude oil export mix was 61.71 dollars per barrel, a figure lower by 8.82 dollars than the average for 2024. For its part, in 2025, the volume of crude oil exported was located at 658 thousand barrels per day, lower than the level of 861 thousand barrels per day the previous year.

Imports, for their part, also reached a record figure of 664 thousand 66 million dollars in 2025, an amount 4.4 percent higher than that observed in 2024, reflecting greater domestic demand and greater purchases of productive inputs.

Encouraged by the appreciation of the Mexican peso, intermediate goods rose 7.2 percent during the year, while capital goods contracted 8.7 percent.

The trade balance presented a surplus of 771 million dollars, compared to the deficit of 18,541 million observed in 2024. The increase in the balance in the reference period resulted from a greater surplus in the balance of non-oil products – which went from 2,686 million dollars, in 2024, to 26,323 million, in 2025 -, and from an increase in the deficit in the balance of oil products, which went from 21,226 million to 25,552 million dollars, in that same comparison.

Gerónimo Ugarte, chief economist, and Luis Campos, economist at Valmex Casa de Bolsa, explained that the trade balance faced an environment of high uncertainty associated with changes in the configuration of international trade and still showed outstanding performance, supported by sectors such as specialized machinery and equipment, mining metallurgy products, and electrical and electronic equipment.

On the import side, the dynamism of intermediate and consumer goods is consistent with resilient domestic demand, while the weakness in capital goods points to an environment of caution in investment.

The balance of risks for the external sector remains uncertain. A favorable review of the T-MEC on July 1, as well as an eventual exclusion of Mexico from lists of countries subject to new tariffs, could act as a positive catalyst for exports and encourage productive relocation to our country.