La Jornada: Record in the trade balance surplus: Inegi

Amid a boom in technology and artificial intelligence demand, Mexico broke export records in the first half of 2026, with particularly strong performance in non-automotive manufacturing.

From January to June, the value of Mexico’s total sales to the foreign market reached an unprecedented amount of 389,723 million dollars, which represented an annual growth of 24.6 percent, driven by a 25.6 percent increase in non-oil exports, revealed figures from the National Institute of Statistics and Geography (Inegi).

84.16 percent of non-oil exports went to the United States and registered an advance of 25.7 percent in the accumulated figure for said semester, driven by non-automotive shipments (38.5 percent), which more than compensated for the contraction of the automotive sector (2.7).

In the period, the accumulated value of total imports was 379,866 million dollars, 22 percent higher than in the same period of 2025. Thus, for the initial six months of 2026, the trade balance presented a surplus of 9,857 million dollars, a new national record.

The Inegi highlighted the value of manufacturing exports, with an amount of 355 thousand 901.5 million dollars, 25.8 percent more compared to the first half of 2025. Supported by non-automotive exports (263 thousand 643.8 million), which rose 37.6 percent annually, due to the bonanza in demand for electronic products and machines for data processing, among others, in the midst of a trade policy American that seeks more protection for its producers and greater demands for its commercial partners.

In the January-June period, the accumulated value of total imports was 379,866 million dollars, 22 percent higher than that observed in the same period of 2025. Non-oil imports rose 22.8 percent and oil imports, 12.1 percent, at an annual rate.

The structure of the value of purchases that Mexico makes from other countries was as follows: intermediate use goods, 79.9 percent; consumer goods, 12.8, and capital goods, 7.3 percent.

“Foreign trade closed the first half of 2026 with a favorable performance, supported by the strength of non-oil exports, which has led to a sustained expansion of the trade surplus and a recomposition in which the non-oil sector gains weight.

“The challenge will be to maintain this pace in an environment in which risks persist, such as the evolution of the trade and tariff policy of the United States, the volatility in the energy markets and the mixed behavior of the automotive industry,” estimates Gerónimo Ugarte, chief economist at Valmex Casa de Bolsa.