In August 2025, Mexican merchandise exports reached 55.718 billion dollars (mdd) , which represented an annual increase of 7.4% , however, the trade balance showed a deficit of 1.944 billion dollars , derived, in part, from the United States tariff policy.
According to the National Institute of Statistics and Geography (INEGI) , in its most recent report on the Mexican Merchandise Trade Balance (BCMM) , the trade deficit figure compares with the $17 million deficit from last July.
“The widening of the trade deficit between July and August stemmed from a reduction in the surplus in the non-oil products balance and a larger deficit in the oil products balance,” the organization emphasized.
Exports increase
The increase in exports during the period was due to an 8.9% increase in non-oil exports and a 26.3% drop in oil exports. Among non-oil exports, those to the United States grew 7.4% annually, and those to the rest of the world grew 16.8%.
Exports of manufactured goods totaled $51.705 billion , a 9% annual increase. The most significant increases were observed in exports of machinery and special equipment for various industries (69.3%), professional and scientific equipment (9.9%), and optical photography and watchmaking equipment (4.2%).
Automotive exports, meanwhile, registered a 1.2% annual decline , driven by a 5.9% drop in sales to the United States and a 29.1% increase in sales to other markets.
Agricultural and fishing exports totaled $1.24 billion, a 14.3 percent annual decline. During the period, oil exports totaled $1.638 billion. This amount was comprised of $1.159 billion in crude oil sales and $479 million in exports of other petroleum products.
In the January-August period, the value structure of merchandise exports was comprised of manufactured goods (91%), agricultural products (3.5%), petroleum products (3.5%), and non-petroleum extractive products (2%).
Imports decline
In the eighth month of the year, the value of merchandise imports was $57.662 billion , representing an annual decrease of 0.2 percent.
INEGI (National Institute of Statistics and Geography) reported that consumer goods imports totaled $8.388 billion, a 5.8 percent annual decrease. Meanwhile, intermediate goods were imported for a value of $44.579 billion, 1.8% more than reported in August 2024.
Capital goods imports reached $4.695 billion, representing an annual decline of 7.4 percent.
In the January-August 2025 period, the cumulative value of total imports was $425.68 billion, 0.4% higher than the same period in 2024.
In the first eight months of 2025, the value structure of imports was intermediate goods (76.9%), consumer goods (14.4%), and capital goods (8.7%).
According to figures released Friday by the National Institute of Statistics and Geography (INEGI), Mexican exports posted three months of growth in August, although the trade balance continues to trend downward, with a $17 million deficit also recorded in July.
This amount comes amid uncertainty stemming from the United States’ tariffs, which are now seeking to impose a 25% tax on heavy vehicles imported from other parts of the world, which is expected to take effect on October 1.
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