US tariffs and a cautious Mexican economy have not slowed exports in the first quarter of 2026 (1Q26), according to the Quarterly Global Supply and Demand Indicators (ODGT) and the Quarterly Gross Savings Indicator (ITAB) report released Thursday .
According to the report, prepared by the National Institute of Statistics and Geography (Inegi) , in the period January-March 2026 the global supply of goods and services (equal to global demand) increased 0.3% in real terms compared to the previous quarter.
Within the country, Gross Domestic Product (GDP) decreased by 0.6%, and imports of goods and services grew by 2.2% on a quarterly basis.
In its year-on-year comparison, global supply increased 5.2% in Q1 2026: GDP increased 0.4% and imports of goods and services registered a rise of 16 percent.
According to Inegi, the Quarterly Global Supply and Demand provides information on the short-term behavior of the main macroeconomic variables of production, consumption, investment and foreign trade.
During the period under review, the agency reported that the components of global demand behaved as follows: government consumption increased by 1.6%, and exports of goods and services grew by 0.8%. Private consumption decreased by 0.8%, and gross fixed capital formation (GFCF) , that is, fixed investment, fell by 1.9% quarter-on-quarter.
On an annual basis, government consumption rose 3.3%; private consumption increased by 2.4%, and exports of goods and services rose 1.5%. Gross fixed capital formation (GFCF) fell by 3%.
The Quarterly Gross Savings Indicator represents the portion of income generated from domestic or foreign production that is not spent on final consumption goods and services. This allows economic agents to finance the acquisition of assets, explained INEGI.
In the first quarter of 2026, and with seasonally adjusted figures, gross savings , at current prices, grew 2.4% compared to the previous quarter; in turn, savings in the domestic economy increased 3.4% quarterly.
These results occur in a context where inflation in Mexico shows a downward trend, standing at 3.94% at an annual rate during May 2026 , as well as a slow industrial recovery.
According to CIAL Dun & Bradstreet , a firm specializing in providing technological solutions and data, the Mexican economy faces opportunities and challenges that require macroeconomic discipline to sustain confidence and growth.
Comment and follow us on LinkedIn: @GrupoT21
