In March 2026, Mexico once again became the leading exporter of goods to the United States and also the top buyer of U.S. products . Canada and China, the other major trading partners of the U.S., saw declines in their trade, according to figures from the U.S. Census Bureau .

The value of bilateral trade between Mexico and the United States reached $83,978.6 million in the third month of the year, an 8.6% increase compared to March 2025, according to an analysis by T21 Business Intelligence .

Conversely, Canada and China reported declines during the period . Canada showed a 3.4% decrease in March 2026, with $65.5282 billion compared to March 2025. China registered a 21.7% year-on-year contraction, with total trade of $31.962 billion.

In the accumulated January-March 2026,  Mexico also led the trade exchange with the United States, with a total of 231,300.7 million dollars , Canada reached 175,910.2 million dollars, and China 88,251.3 million dollars in the first quarter.

Regarding exports, Mexico maintained an optimal performance in the third month of the year, sending goods to the United States for 51,202.8 million dollars , an increase of 6.7% compared to March 2025, which meant the highest figure since records began.

Meanwhile, Canada and China continued the negative trend of previous months . Canada exported goods to the United States worth $34.0893 billion, a 4.4% year-over-year decrease. China shipped products to its northern neighbor worth $20.859 billion last March, representing a 29% drop compared to the same month in 2015.

Regarding imports, Mexico purchased US goods worth $32.7758 billion in March 2026, an 11.6% year-over-year increase. Canada’s imports totaled $31.4389 billion, a 2.3% decrease compared to the same month last year. During the same period, China imported US goods worth $11.103 billion, 3% less than in March 2025.

The positive trend in trade between Mexico and the United States continued in March 2026, a situation that could be favorable for the country’s negotiating position in the face of the review of the United States-Mexico-Canada Agreement (USMCA) , although it also reflects the high dependence of Mexican foreign trade on its northern neighbor.

According to Gabriela Siller, Director of Economic Analysis at Grupo Financiero BASE , Mexican exports have diversified, with computer equipment being one of the products that the country sends the most abroad.

“If this product had not grown so much last year, at a rate of 144%, Mexican exports would have fallen by 0.54 percent,” he stressed.

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El cargo Mexico, with record exports to the US in March apareció primero en T21.

Sales of Mexican products abroad during March 2026 were in positive territory, totaling 70 billion 727 million dollars (USD), a growth of 27.7% compared to the same month of 2025 , according to the Mexican Merchandise Trade Balance (BCMM), prepared by the  National Institute of Statistics and Geography (Inegi) .

According to the agency’s timely foreign trade information, a total trade surplus of 5.932 billion dollars was recorded, which contrasts with the deficit of 463 million dollars reported last February .

“The increase in the balance, between February and March, originated from an expansion in the balance of non-oil products and an increase in the deficit of the balance of oil products,” Inegi noted in the report.

According to the figures, Mexican exports have seen 10 consecutive months of annual increases .

The increase in exports during the period was due to a 29.6% rise in non-oil exports and a 20.4% drop in oil exports. Within non-oil exports, those destined for the United States increased by 28.2% year-on-year, while those destined for the rest of the world rose by 36.9%.

Exports of manufactured goods totaled  $64.722 billion , representing a 29.5% increase compared to March 2025.

On an annual basis, the largest increases were recorded in exports of mining and metallurgy products with 61.8%, electrical and electronic equipment and appliances with 17.8%, food, beverages and tobacco with 14.4%, and automotive products with 2 percent.

In turn, the annual increase in automotive product exports resulted from a 3.4% decrease in sales channeled to the United States and a 39.2% increase in those directed to other markets.

In the reference month, oil exports totaled 1.707 billion dollars , which consisted of 1.290 billion dollars of crude oil sales and 417 million dollars of exports of other petroleum products.

Agricultural and fishing exports reached 2.219 billion dollars, an amount that implied an annual increase of 0.7 percent.

The value structure of merchandise exports in the first three months of 2026 was manufactured goods with 91.1%, agricultural goods with 3.3%, non-oil extractive products with 3.1%; and oil products with 2.5 percent.

Imports

In March 2026, the value of merchandise imports was $64.795 billion , representing an annual increase of 24.3 percent.

The National Institute of Statistics and Geography (INEGI) explained that consumer goods imports totaled $8.421 billion, a 19.3 percent year-on-year increase. Meanwhile, imports of intermediate goods reached $51.404 billion, 27.2 percent higher than in March 2015.

Imports of capital goods reached 4.97 billion dollars, which implied an annual increase of 7 percent.

In the period January-March 2026, the accumulated value of total imports was 176 billion 598 million dollars, an amount 18.4% higher than that observed in the same period last year.

In the first quarter of 2026, the structure of the value of imports was intermediate goods with 79.7%, consumer goods with 12.7%, and capital goods with 7.6 percent.

The results published this Monday show a dynamism in Mexican foreign trade that has not slowed down, and on the contrary, continues to grow hand in hand with the manufacturing sector, which has shown resilience in the face of the uncertainty caused by the tariffs promoted by the United States.

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El cargo Mexican foreign trade is in positive territory; exports grow in March apareció primero en T21.

According to figures from the  US Census Bureau , Mexico reaffirmed its position as the main trading partner of the United States in February 2026 , once again ranking as the top supplier of goods to the United States and the main importer of US products, while Canada and China showed declines.

According to an analysis by  T21 Business Intelligence ,  the exchange of goods between Mexico and its northern neighbor was $73,217.2 million during the second month of 2026 , an increase of 7.1% compared to February 2025.

In contrast, Canada fell 8.9% , totaling $57,543.6 million in February 2026; while  China dropped 36.1% compared to the same month last year , with a total traded value of $26,902.2 million.

In the accumulated January-February 2026, Mexico also led the trade exchange with the United States, with a total of 147,322.1 million dollars ; Canada reached 110,335.4 million dollars and China 56,289.2 million dollars in the first two months.

Regarding exports to the United States in the second month of 2026, Mexico maintained a solid performance, sending goods to the United States for 44,310.7 million dollars , which meant an increase of 6.4% annually.

Meanwhile, Canada exported $29,172.3 million, 16.5% less than in February 2025. China totaled $18,955.6 million in merchandise shipments to the United States last February, a figure that represented a decline of 40.1% compared to the same month in 2025.

In terms of imports, Mexico also solidified its position as the leading buyer of U.S. products, with $28.9065 billion in February 2026 , representing an 8 percent year-over-year increase. Canada saw a slight increase of 0.4%, totaling $28.3713 billion during the same period. China imported a total of $7.9466 billion, 24% less than in February 2025.

The  trade balance  in February 2026 showed a surplus for Mexico (15,404.2 million dollars) , China (11,009.1 million dollars) and Canada (801 million dollars).

Last February, the positive trend in trade between Mexico and the United States continued, as shown in January 2016, when the value of the exchange of goods was 74,105 million dollars.

The results for the second month of 2026 also reflect Mexico’s leading position in trade with the United States , despite constant pressure from its northern neighbor through protectionist measures. Meanwhile, Canada faces obstacles and China is losing ground in the North American market.

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El cargo Mexico maintains its trade advantage over the US in February apareció primero en T21.

Mexico began 2016 as the leading exporter of goods to the United States and also became the top buyer of U.S. products. Canada and China, the other major trading partners of the U.S., saw declines in their trade, according to figures from the U.S. Census Bureau .

According to an analysis by  T21 Business Intelligence , the value of bilateral trade between Mexico and the United States reached $74.105 billion during the first month of this year, an increase of 6.5% compared to January 2025.

In contrast, Canada and China reported significant declines during the period. Canada showed a 19.5% drop compared to 2025, totaling $52.84 billion in January 2026. China registered a 43% year-on-year contraction, with total trade of $29.387 billion in the first month of 2026.

Regarding exports to the United States, Mexico maintained its leadership, sending products to the United States worth $42,517.7 million in January 2026, 2% more than in the same month of 2025.

Conversely, Canadian exports to the United States totaled $28.33 billion, a 26.1% year-over-year decrease. China’s merchandise shipments to the United States totaled $21.05 billion in the first month of 2026, a 49.4% decline compared to January 2025.

In terms of imports, Mexico purchased US goods worth $31.5872 billion in January 2026, a 13.1% year-over-year increase. Canada’s imports totaled $24.5103 billion, a 10.3% decrease compared to the same month last year. During the same period, China imported a total of $8.3291 billion, 15.9% less than in January 2025.

In January 2026, Donald Trump completed one year of his second term as President of the United States, an administration characterized by protectionist economic policies and the imposition of tariffs on various countries around the world. Despite this, Mexico has managed to circumvent these measures and has positioned itself as a key player in trade with the United States ; meanwhile, Canada and China have experienced setbacks in their trade with the world’s largest economy.

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El cargo Mexico made progress in trade with the US during January; Canada and China fell behind. apareció primero en T21.

In January 2026, the shipment of Mexican products abroad maintained the positive trend with which it closed 2025, when in December of last year it registered an annual increase of 17.2 percent, according to the National Institute of Statistics and Geography (Inegi) .

According to figures from the Mexican Merchandise Trade Balance (BCMM), in the first month of 2026, Mexican exports totaled 48 billion 008 million dollars (mdd) , which meant an increase of 8.1% compared to the same month of 2025.

Meanwhile, the trade balance showed a deficit of $6.481 billion , which compares to a surplus of $2.430 billion in December 2025.

Export performance

The increase in Mexican exports stemmed from a 9.8% rise in non-oil exports and a 33.5% decrease in oil exports. Within non-oil exports, those destined for the United States increased by 7.9% year-on-year, while those destined for the rest of the world rose by 19.6% annually.

In the first month of 2026, the value of exports of manufactured products was 43,508 million dollars , representing an advance of 9.4% year-on-year.

The most significant advances were observed in exports of machinery and special equipment for various industries with 65.8%, mining and metallurgy products with 29.9%, metal products for domestic use with 7.3%, and electrical and electronic equipment and appliances with 2.5 percent.

Meanwhile, exports of automotive products showed an annual drop of 9% , which resulted from a decrease of 16.7% in sales channeled to the United States and an increase of 35.9% in those directed to other markets.

In January 2026, the value of agricultural and fisheries exports was US$1.858 billion , representing an 11.6 percent year-on-year decrease. The most significant year-on-year declines were recorded in tomato (34.1%), cucumber (22.9%), and avocado (22.4%) exports.

In the reference month, the structure of the value of merchandise exports was manufactured goods 90.6%, agricultural goods 3.9%, non-oil extractive products 3.2%, and oil products 2.3 percent.

According to the results of Inegi, in January 2026 the northern neighbor concentrated 82.31% of the total exports that Mexico made to the foreign market , with a percentage variation of 7.9% compared to December 2025, and of 8.8% compared to January of last year.

Import behavior

In January 2026, the value of merchandise imports was $54,489 million , representing an annual growth of 9.8 percent.

In the month under comparison, imports of consumer goods  totaled $6.988 billion, a year-on-year decrease of 3.8 percent. Meanwhile, imports  of intermediate goods  reached $43.123 billion, 14.2% higher than the figure reported in January 2025.

Imports of capital goods reached 4.379 billion dollars , which implied an annual decline of 4.4 percent.

During the cycle, the structure of the value of imports was intermediate goods 79.2%, consumer goods 12.8%, and capital goods 8 percent.

Mexican foreign trade figures, especially in exports, reveal the dynamism that the country has in the North American economy, although on several occasions, the President of the United States, Donald Trump, has rejected the entry into the United States of Mexican products and those of other nations by imposing tariffs on them.

Understanding the trade balance is important, as it is a key indicator of a country’s economic health, reflecting the difference between exports and imports, and revealing aspects such as economic growth and competitiveness in international trade.

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El cargo Mexican exports start 2026 on the right foot apareció primero en T21.

In the third quarter of 2025 (3Q25), Mexico’s Gross Domestic Product (GDP) totaled  35.2 trillion pesos, representing a growth of 4.1% compared to the same period in 2024, the National Institute of Statistics and Geography (Inegi) announced this Thursday .

During the reference period, the  remuneration of salaried workers , by the income method, was the component that registered the greatest increase among productive agents, with an increase of 9.9% at an annual rate and an amount of 11 trillion pesos, which meant a participation of 31.4% of GDP.

According to the agency, the  gross operating surplus , that is, business profits, represented 39.6% of GDP in Q3 2025, with an annual growth of just 0.8 percent.

Gross mixed income ,  related to self-employed workers and small businesses, had a share of 21.6% of GDP in the comparison cycle, with a slight rebound at an annual rate of 0.4 percent.

Meanwhile, final consumption , measured by the expenditure method, was the component that sustained domestic demand with 29.3 trillion pesos, representing 83.3% of GDP in Q3 2025, and an annual growth of 4.6 percent.

Exports reached 13.6 trillion pesos during the period, representing 38.6% of GDP and a 6% increase compared to the third quarter of 2024 (3Q24), reflecting greater dynamism in Mexican foreign trade. Imports grew  5.9 % year-on-year, contributing 40.6% to GDP.

Meanwhile, gross fixed capital formation –investments in infrastructure, machinery and equipment– totaled 7.7 trillion pesos in the third quarter of 2025, although it registered a 4.9% drop compared to Q3 2024. This component accounted for 22% of GDP.

The quarterly Gross Domestic Product results, calculated using the income and expenditure approach , reflect the strength of domestic consumption , which is one of the driving forces of the Mexican economy.

According to estimates from BBVA Research , a moderate start to private spending is expected in 2026 , although a gradual recovery in consumption could be observed during the course of the year, “as the real wage bill strengthens and uncertainty related to US trade policies decreases.”

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El cargo Consumption and wages boost Mexico’s GDP in Q3 2025 apareció primero en T21.

According to data from the US Census Bureau , Mexico ended 2025 as the main supplier of goods to the United States and also ranked as the top importer of US products , while Taiwan became the third largest trading partner of the northern neighbor, displacing China to fourth place.

In December 2025, Mexico solidified its position as the United States’ top trading partner, registering a trade of goods worth $70.521 billion , once again surpassing Canada, which totaled $57.2862 billion. Taiwan’s trade with the United States totaled $29.4955 billion, just ahead of China, which registered $29.4922 billion, placing it in fourth position.

According to an analysis by T21 Business Intelligence , Mexico’s bilateral trade with the United States reached $872.834 billion in 2025 , representing a 4% increase compared to 2024, when it totaled $839.555 billion. In contrast, Canada registered $719.4786 billion last year, a 5.6% decrease; while China reported $414.6881 billion, a 28.7% drop.

In exports to the United States, Mexico totaled $534,873.5 million in the period January-December 2025 , an increase of 5.8% compared to shipments made in 2024. Canada, for its part, exported $382,960.3 million, a contraction of 7%, and China totaled $308,379.7 million during the past year, which represented a decline of 29.7 percent.

In terms of imports, Mexico purchased US goods worth $337,960.1 million in 2025 , 1.2% more than in 2024. In this category, Canada totaled $336,518.3 million, which is 3.8% less than in 2024; while China imported a total of $106,308.4 million, which meant a contraction of 25.8% compared to 2024.

Mexico, top US buyer in December

During December 2025, Mexico was the main importer of US products with $28,161.1 million , representing a growth of 14.6% compared to the same month in 2024. It was followed by Canada with $25,512 million, a decrease of 5.4%, and Taiwan with $4,799.3 million, an increase of 33% over 2024.

In exports to the United States in the last month of last year, Mexico reaffirmed its leadership with $42.36 billion , an 8 percent increase. Meanwhile, Canada exported the equivalent of $31.77 billion to the United States, 10.6% less than in 2014, while Taiwan sold goods to its northern neighbor worth $24.69 billion, a 144.7% increase compared to 2014.

Mexico ended 2025 consolidating its position as the most important trading partner of the United States, despite the tariffs imposed by President Donald Trump and the political tensions regarding trade and security .

In contrast, Canada and China felt the effects of the trade war driven by the United States more strongly, which was reflected in drops in their volumes of goods exchanged with their northern neighbor, weakening their position vis-à-vis Mexico.

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El cargo Mexico confirms its leadership in trade with the US by the end of 2025 apareció primero en T21.

The dynamics of Mexican foreign trade in November 2025 reaffirmed the country’s strength in the US market, according to data from the US Census Bureau .

In the penultimate month of last year, Mexico consolidated its position as the main trading partner of the United States, registering a total trade exchange of 71,132.2 million dollars (USD) , surpassing Canada, which totaled 53,700.1 million USD, and China with 27,959.1 million USD.

In an analysis conducted by T21 Business Intelligence , Mexico was the leading importer of US products during November 2025, with $26,616.5 million , although this figure represented a slight drop of 1.2% compared to the same month in 2024. It was followed by Canada with $25,339.9 million , a decrease of 11.5% compared to the same period in 2024, and China with $7,008.4 million , a drop of 44.4 percent.

In the first 11 months of 2025, Mexico’s  purchases of U.S. goods totaled $309.799 billion , a slight increase of 0.1% compared to the same period in 2024. Canada’s total was $310.0353 billion, a decrease of 3.9%. China’s imports reached $97.9205 billion, a decline of 25.2% over the same period.

In terms of exports to the United States, Mexico solidified its position as the most important partner. During November 2025, shipments of Mexican products to the U.S. market totaled $44.5157 billion , an annual increase of 5.4 percent. Canada exported $28.3602 billion to the United States, a decrease of 15.3 percent, and China $20.9507 billion, with a significant drop of 44.5 percent compared to the penultimate month of 2024.

As of November 2025, Mexico exported goods to the United States totaling $492,513.2 million , a 5.6% increase compared to the same period in 2024. Canada’s exports totaled $351,186.1 million, representing a 6.6% decrease; while China’s exports totaled $287,275.6 million, a 28.3% drop compared to the same period in 2024.

Regarding the trade balance, Mexico had a surplus of $17,899.1 million in November 2025 , while China’s was $13,942.3 million, and Canada’s was $3,020.3 million.

While Canada and China maintain geopolitical confrontations with the United States, Mexico registers sustained growth in its exports to its northern neighbor , consolidating itself as the main supplier of goods to the American Union.

According to estimates from the  International Chamber of Commerce Mexico (ICC Mexico) , the Mexican economy could grow between 1.3% and 1.8% during 2026, driven by the export sector , as the country continues to have a key comparative advantage with the rest of the world:  preferential access —with zero tariffs— under the current framework of the United States-Mexico-Canada Agreement (USMCA) .

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El cargo Mexico reaffirms its trade position with the US; exports increase in November apareció primero en T21.

Mexican exports closed 2025 with an optimal performance despite the uncertainty caused by the tariff measures implemented by the United States, which impacted global trade last year.

In December 2025, the value of Mexico’s exports was 60 billion 651 million dollars (USD), an annual increase of 17.2% , according to figures from the Mexican Merchandise Trade Balance (BCMM), released on Tuesday by the National Institute of Statistics and Geography (Inegi) .

Mexican exports in the last month of 2025 continued the good pace they showed last November, when they registered an increase of 7.9%, reaching 56 billion 412 million dollars (mdd).

By 2025, the cumulative value of exports was $664,837 million, which meant an annual growth of 7.6%.

“In the cumulative period from January to December 2025, total exports maintained a positive performance, with an annual growth of 7.6%. However, the domestic reading was mixed: the boost came from non-automotive manufactured shipments,” explained Grupo Financiero Monex in an analysis.

Meanwhile, the trade balance showed a surplus of $  2.43 billion in December 2025 , compared to a surplus of $663 million last November.

The increase in the trade surplus, between November and December 2025, originated from an increase in the non-oil product surplus and an expansion of the oil product balance deficit, explained Inegi.

Exports increase

The increase in Mexican exports in December 2025, the highest year-on-year rate since February 2023, stemmed from a 19.5% rise in non-oil exports and a 32.9% decrease in oil exports. Within non-oil exports, those destined for the United States increased by 17.9% year-on-year, while those destined for the rest of the world rose by 28%.

In the last month of last year, exports of manufactured goods totaled US$55.615 billion , representing a 20.6% year-on-year increase. The most significant growth was seen in exports of  machinery and specialized equipment for various industries  (93.4%), mining and metallurgical products (41.2%), electrical and electronic equipment and appliances (15.2%), professional and scientific equipment (5.4%), and automotive products (0.8%).

In turn, the annual increase in automotive product exports resulted from a 3.7% reduction in sales to the United States and a 30.9% increase in sales to other markets during December 2025.

Meanwhile,  agricultural and fishing exports totaled 1.877 billion dollars in December 2025, 12.7% less than in the same month of 2024.

In the reference month, the value of oil exports was 1.522 billion dollars, a figure made up of 839 million dollars of crude oil sales and 683 million dollars of exports of other petroleum products.

During 2025, the value structure of merchandise exports was as follows: manufactured goods 91.6%, petroleum products 3.2%, agricultural goods 3.1%, and non-petroleum extractive products 2.1 percent.

Imports are also on the rise

The value of merchandise imports in the last month of 2025 registered an annual growth of 16.7%, totaling 58 billion 221 million dollars .

During the period, imports of consumer goods  totaled $9.51 billion, a year-on-year increase of 25.3 percent. Meanwhile, imports  of intermediate goods  reached $43.639 billion, 17.3% more than reported in December 2024.

Imports of  capital goods  reached $5.072 billion, which implied an annual decrease of 0.6 percent.

In 2025, the cumulative value of total imports was  664 billion 066 million dollars , an amount 4.4% higher than that observed in 2024. Meanwhile, the structure of the value of imports was intermediate goods with 76.8%, consumer goods with 14.7%, and capital goods with 8.5 percent.

“On the import side, these reflected an annual increase of 4.4% with a differentiated dynamic: oil imports decreased by 6.6% year-on-year, while non-oil imports increased by 5.3% year-on-year,” according to Monex.

This increase occurs in a context where Donald Trump , President of the United States, has expressed his rejection of products that are not manufactured in the United States; however, the figures reveal the importance of Mexico in the North American economy, since more than 80% of its exports are carried out in this region.

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El cargo Mexican exports, with a positive end in 2025 apareció primero en T21.

In 2025, Terminal Marítima Mazatlán (TMAZ) operated in an environment marked by tariff threats, logistical volatility, and an automotive industry under pressure from costs. However, the terminal—part of  Hanseatic Global Terminals , the port arm of Hapag-Lloyd —closed the year with an atypical result in the face of the adverse climate: growth . “Despite all the uncertainty and volatility, we at the Port of Mazatlán have been resilient,” stated Mauricio Ortiz, CEO of TMAZ, in an interview, predicting a year-end result that would exceed the total volume handled in 2024 by between 8% and 10%. 

The increased activity in the automotive sector is due to a current situation: the race to bring forward imports before Mexico imposes tariffs on Chinese cars . “Imports of 2026 models were brought forward in larger quantities,” explains Ortiz. At the time of this writing, the Chamber of Deputies was preparing to vote on the initiative from Claudia Sheinbaum’s government that imposes tariffs on economies with which Mexico does not have trade agreements, such as China and other Asian nations, where an adjustment to export volumes is already anticipated in the near future. Mexican ports will be the first to feel the effects. 

Meanwhile,  Mazatlán and Lázaro Cárdenas experienced a surge in new car imports from Asia in December,  putting pressure on yards, bonded warehouses, and the coordination of rail and car carrier services. Even so, Mazatlán managed the demand thanks to an ecosystem of external yards that has grown in recent years in both size and capacity, allowing it to absorb peak demand without compromising operations. This infrastructure has facilitated the arrival of new ships and increased vehicle turnover.  From January to October 2025, the Sinaloa port handled a total of 135,142 vehicles , 7.2% less than in the same period of 2024, according to the most recent official statistics at the time of publication. 

STRATEGY: MODERNIZATION 

2025 was also marked by an investment strategy focused not only on growth but also on modernization. TMAZ renewed its fleet of tractor-trailer trucks,  reach stackers , forklifts, and platforms, in addition to incorporating  automated spreaders  for 20, 40, and 53-foot containers . This infrastructure was key to consolidating one of the year’s most significant projects: the TMAZ- Ferromex – Baja Ferries intermodal service . Since February 2025, 53-foot containers have been arriving by rail as coastal cargo, unloaded at the terminal, and shipped to Baja California Sur—a service that strengthens regional connectivity and opens new avenues for efficiency for customers. 

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El cargo TMAZ: Resilience in times of pressure apareció primero en T21.