Amid global trade tensions stemming from the United States’ tariff policy, Mexican merchandise exports performed optimally last June, reaching $54.002 billion , up 10.6% from the same month in 2024, driven largely by manufactured goods, the National Institute of Statistics and Geography (INEGI) reported Monday .
According to the Mexican Merchandise Trade Balance (BCMM) , this increase represents one of the best figures since records began for a sixth month of the year.
The increase in exports was due to a 12.4% increase in non-oil exports and a 30.4% drop in oil exports . Within non-oil exports, those to the United States grew 15% annually, and those to the rest of the world grew 0.8%, the agency detailed.
Meanwhile, shipments of manufactured goods abroad totaled $49.684 billion , representing an annual increase of 13.5%.
The largest annual increases were in exports of machinery and special equipment for various industries (55%), professional and scientific equipment (23.4%), mining and metallurgy products (19.3%), electrical and electronic equipment and appliances (6.6%), and automotive products (4.5%).
The increase in automotive product exports was driven by a combination of a 6% increase in sales to the United States and a 2.6% decrease in sales to other markets.
Agricultural and fishing exports reached US$1.711 billion, a 2.2 percent annual decline. In June 2025, the value of oil exports was US$1.458 billion, with crude oil contributing US$984 million.
In the January-June period of this year, the value structure of merchandise exports consisted of manufactured goods (90.5%), agricultural goods (3.9%), petroleum products (3.6%), and non-petroleum extractive products (2%).
Trade balance shows surplus
In June 2025, Mexico had a trade surplus of $514 million . This balance compares with the $1.232 billion surplus recorded last May.
The decline in the trade surplus between May and June was driven by a reduction in the surplus in the non-oil products balance—which fell from $3.139 billion in May to $2.982 billion in June—and a larger deficit in the oil products balance—which fell from $1.907 billion to $2.467 billion in the same period.
In the first six months of 2025, the trade balance showed a surplus of $1.433 billion.
Imports grow
The value of merchandise imports in June 2025 was $53.487 billion , representing an annual increase of 4.4 percent.
Imports of intermediate goods totaled $41.446 billion, a 6.9% increase compared to the figure reported in June 2024. Meanwhile, imports of capital goods reached $4.438 billion, an annual decrease of 8.4%.
In the first half of 2025, the cumulative value of total imports was $311.296 billion, 0.2% higher than the same period in 2024. During the cycle, the value structure of imports was intermediate goods (77%), consumer goods (14.2%), and capital goods (8.8%).
The increase in Mexican exports last June was driven by manufactured goods, in line with estimates by INEGI in its Timely Monthly Indicator of Manufacturing Activity (IMOAM) report , which predicted a 0.3% increase in this activity in Mexico.
According to the Ministry of Economy , in the first quarter of 2025, Mexico totaled $21.4 billion in Foreign Direct Investment (FDI) , of which 43.2% was concentrated in the manufacturing sector, mainly in the transportation equipment, beverage and tobacco, and chemical industries, among others.
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