In November 2025, Mexican exports continued the good pace shown last October even amidst the tariff measures imposed by the United States on several countries around the world, according to figures from the Mexican Merchandise Trade Balance (BCMM) , prepared by the National Institute of Statistics and Geography (Inegi) .
In the penultimate month of the year, the value of Mexico’s exports was 56.412 billion dollars (USD), representing an annual increase of 7.9% , mainly due to non-oil exports; meanwhile, the trade balance showed a surplus of 663 million USD , compared to the surplus of 606 million USD last October.
Exports accelerate
The increase in Mexican exports stemmed from a 10.5% rise in non-oil exports and a 40.4% decrease in oil exports. Within non-oil exports, those destined for the United States grew 8.5% year-on-year, while those destined for the rest of the world increased by 20.9%.
Meanwhile, exports of manufactured goods totaled US$52.085 billion , a 10.9% year-over-year increase. The most significant growth was seen in exports of machinery and specialized equipment for various industries (75.3%), metal products for domestic use (8%), and electrical and electronic equipment and appliances (6.9%).
Automotive product exports registered an annual decline of 2.1% , which resulted from a 4.8% decrease in sales channeled to the United States and a 13.3% increase in those directed to other markets.
The value of agricultural and fishing exports was 1.436 billion dollars , an amount that represented an annual decrease of 21.4 percent.
In November 2025, the value of oil exports was 1.547 billion dollars , a figure made up of 1.033 billion dollars of crude oil sales and 514 million dollars of exports of other petroleum products.
In the period January-November of this year, the structure of the value of merchandise exports was as follows: manufactured goods with 91.6%, petroleum products with 3.3%, agricultural goods with 3.1%, and non-petroleum extractive products with 2 percent.
Imports are growing
In the eleventh month of 2025, the value of merchandise imports was $55,749 million , which meant an annual increase of 5.2 percent.
In the month under review, imports of consumer goods totaled $8.437 billion, a 2.5 percent year-over-year increase. Meanwhile, imports of intermediate goods reached $42.949 billion, 8.7% higher than the figure reported in November 2024.
Imports of capital goods reached 4.364 billion dollars, which implied an annual decrease of 16.7 percent.
In the period January-November 2025, the accumulated value of total imports was 605 billion 845 million dollars , an amount 3.3% higher than that observed in the same period of 2024.
In the first 11 months of the year, the structure of the value of imports was intermediate goods with 76.9%, consumer goods with 14.6%, and capital goods with 8.5 percent.
Mexican exports in November 2025 continued the good pace of the previous month, when they registered an increase of 14.2%, representing the highest annual growth rate in the last 33 months.
These figures reveal the importance of Mexico in the North American economy, as more than 80% of its exports are carried out in this region.
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