In September 2025, Mexican exports continued at a good pace despite the tariff measures imposed by the United States on several countries around the world, according to the Mexican Merchandise Trade Balance (BCMM) , prepared by the National Institute of Statistics and Geography (INEGI) .
In the ninth month of the year, Mexico’s exports totaled $56.488 billion, an annual increase of 13.8% , driven primarily by non-oil exports, marking its best reading in 14 months. However, the trade balance showed a deficit of $2.4 billion .
According to the most recent INEGI report, the trade deficit figure compares to the $1.944 billion deficit from last August.
Exports rise
The increase in exports during the period was due to a 14.8% annual increase in non-oil exports and an 11.8% drop in oil exports. Among non-oil exports, those to the United States grew 12.4% annually, and those to the rest of the world grew 28.5%.
Meanwhile, exports of manufactured goods totaled $52.37 billion , an annual increase of 15.7%. The most significant increases were observed in exports of machinery and special equipment for various industries (76.2%), mining and metallurgical products (12.1%), electrical and electronic equipment and appliances (9.9%), and professional and scientific equipment (8.9%).
Meanwhile, automotive product exports registered a 0.2% annual decline, driven by a 7.2% drop in sales to the United States and a 51.2% increase in sales to other markets.
The value of agricultural and fishing exports was US$1.291 billion , an amount that represented an annual decrease of 14.5 percent.
In September 2025, the value of oil exports was $1.667 billion, comprised of $1.223 billion in crude oil sales and $444 million in exports of other petroleum products.
Between January and September of this year, the value structure of merchandise exports was as follows: manufactured goods accounted for 91.2%, petroleum products for 3.4%, agricultural goods for 3.4%, and non-petroleum extractive products for 2%.
Imports also advance
In September 2025, the value of merchandise imports was $58.887 billion , representing an annual increase of 15.2 percent.
In the reference month, consumer goods imports totaled $8.814 billion, an annual increase of 5.6 percent. Meanwhile, intermediate goods were imported for a value of $45.458 billion, 19.6% more than reported in September 2024.
Meanwhile, imports of capital goods reached $4.615 billion, representing an annual decline of 3.2 percent.
In the period January-September 2025, the cumulative value of total imports was US$484.57 billion , 2% higher than that observed in the same period in 2024.
In the first nine months of the year, the value structure of imports was intermediate goods (76.9%), consumer goods (14.5%), and capital goods (8.6%).
Figures released Monday by INEGI show a strong performance of Mexican exports in the ninth month of 2025, with four months of growth. However, the trade balance continues to trend downward, with a deficit of $1.944 billion in August.
“The widening of the trade deficit between August and September stemmed from a reduction in the non-petroleum products balance and a similar deficit in the petroleum products balance,” INEGI stated.
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