In September 2026, Mexican exports totaled 77.797 billion dollars (USD) , an increase of 37.9% compared to the same month in 2025, driven mainly by electrical and electronic equipment and appliances, according to the National Institute of Statistics and Geography (Inegi) .
Despite the increase in shipments abroad, the trade balance returned to negative territory with a deficit of 606 million dollars , which contrasts with the surplus of 605 million dollars recorded last August, according to the Mexican Merchandise Trade Balance (BCMM).
The reduction in the balance between August and September stemmed from a smaller surplus in the non-oil trade balance and a decrease in the oil trade balance deficit.
However, for the first nine months of 2026, the trade balance showed a surplus of nine billion 254 million dollars .
Manufacturing drives exports
The growth in exports was driven by non-oil goods, whose value increased 38.8% annually, while oil goods increased 9.6% year-on-year.
Within non-oil sales, manufactured goods accounted for the largest share of trade, at $72.773 billion, a 39 percent year-on-year increase . The segments with the greatest growth included electrical and electronic equipment (94.7%), mining and metallurgical products (15.5%), machinery and specialized equipment for various industries (14.7%), plastic and rubber products (12.9%), and automotive products (5.7%).
Automotive exports also saw an increase, albeit at a slower pace, rising 5.7% year-on-year. This growth stemmed from an 8.5% increase in shipments to the United States and a 7.4% decrease in sales to other markets.
The composition of exports reflects the weight of manufactured goods in Mexican foreign trade, as well as the importance of US demand for the flow of goods.
In September, non-oil exports to the United States grew 43.5% year-on-year , while those to the rest of the world advanced 16.4 percent.
In the first nine months of 2026, Mexican exports totaled 627 billion 194 million dollars, an annual growth of 30.4 percent.
During the period, the value structure of merchandise exports was 92.3% manufactured goods, 2.6% non-oil extractive products, 2.6% oil goods, and 2.5% agricultural products.
Imports of supplies are keeping pace
Meanwhile, merchandise imports totaled $78.403 billion in September 2026 , an annual growth of 33.1 percent.
The main component was intermediate goods with a value of 63 billion 103 million dollars, an increase of 38.8% compared to the same month of 2025.
Imports of capital goods reached $5.477 billion, an annual increase of 18.7%, while those of consumer goods totaled $9.823 billion, an annual increase of 11.4%.
In the period January-September 2026, the accumulated value of total imports was 617 billion 940 million dollars, an amount 27.5% higher than that observed in the same period of 2025.
In that cycle, the structure of the value of imports was intermediate goods with 80.4%, consumer goods with 12.5%, and capital goods with 7.1 percent.
Import purchasing patterns are relevant to supply chains because a significant portion of goods entering the country are inputs that are subsequently incorporated into manufacturing production. Their transport, storage, and distribution operations are necessary to supply industrial plants.
September’s figures show that export dynamism continues, accompanied by strong demand for goods from abroad . Although the cumulative trade balance remains positive, the deficit in the ninth month of the year demonstrates that growth in foreign sales does not guarantee a surplus every month.
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