The Mexican economy closed July 2026 with significant dynamism in foreign trade; however, the trade balance showed a deficit, according to the National Institute of Statistics and Geography (Inegi) .
In the seventh month of the year, the country’s exports totaled 81 billion 420 million dollars (USD) , a rise of 43.7% compared to the same month of 2025, according to the report of the Balance of Trade of Goods of Mexico (BCMM).
Non-oil exports increase
Exports of manufactured goods were the main driver of Mexican exports with 76,306 million dollars, representing an increase of 45.7% year-on-year.
The most significant advances during the period were observed in exports of electrical and electronic equipment and appliances (134%), mining and metallurgy products (27.3%), machinery and special equipment for various industries (13.9%), plastic and rubber products (13.3%), and automotive products (2.4%).
The annual growth in automotive product exports stemmed from a 3.7% increase in sales channeled to the United States and a 3.9% increase in sales to other markets.
In July 2026, the value of agricultural and fishing exports was US$1.32 billion, an 8.6 percent year-on-year decrease. Meanwhile, the value of oil exports was US$1.988 billion year-on-year.
In the January-July period of this year, the value of total exports amounted to 471,387 million dollars , which meant an annual growth of 27.7 percent.
The structure of the value of merchandise exports in the first seven months of the year was manufactured goods with 91.7%, agricultural goods with 2.8%, non-oil extractive products with 2.8% and oil products with 2.7 percent.
Despite the growth in shipments abroad, Mexico ended with a trade deficit of $848 million , which compares to the surplus of $4.06 billion in June.
The decrease in the trade balance between June and July stemmed from a reduction in the non-oil trade surplus and a larger oil trade deficit.
Imports step on the gas
Purchases from abroad grew 45% year-on-year last July , totaling 82 billion 268 million dollars, with a strong increase in intermediate goods , which advanced 56.3% to total 67 billion 132 million dollars at an annual rate.
Imports of capital goods reached $5.607 billion, a 9.9% year-on-year increase, reflecting weak productive investment. Meanwhile, imports of consumer goods reached $9.529 billion, a 9.8% year-on-year increase.
In the period January-July 2026, the accumulated value of total imports was 462 billion 132 million dollars, an amount 25.6% higher than that observed in the same period of 2025.
During the cycle, the value structure of imports consisted of intermediate goods at 80.2%, consumer goods at 12.6%, and capital goods at 7.2%.
Import trends in July 2026 demonstrate Mexico’s dependence on imported goods. However, Mexico maintains a strong performance in exports, which has allowed it to weather the uncertainty generated by global tariffs.
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