Source: Mexico News Daily
Date: 28th July 2025

Manufactured goods drive export growth despite falling oil and agricultural revenues; trade surplus widens ahead of proposed U.S. tariff hike.

Mexico posted a strong 10.6% year-on-year increase in export revenue in June, driven largely by the country’s manufacturing sector, which contributed 92% of the total $54.001 billion in earnings. This marks the first double-digit growth since November 2024, following rising trade protectionism from the United States.

Despite ongoing tariff pressures, particularly on the automotive industry, Mexico’s export performance to the U.S., its largest trading partner, remains robust.

Within manufacturing, non-automotive exports surged 18.5% to $33.36 billion, while automotive exports climbed 4.5% to $16.32 billion. Notably, auto shipments to the U.S. rose 6%, even as non-USMCA-compliant parts faced increased duties.

In contrast, other key sectors like oil, agriculture, and mining saw notable declines. Oil exports fell by over 30%, largely due to reduced shipment volumes and lower crude prices, while agricultural and mining revenues dipped by 2.2% and 5.5%, respectively.

Cumulatively, Mexico’s export revenue reached $312.728 billion for the first half of 2025, a 4.4% increase over the same period last year, putting the country on track to surpass 2024’s record-breaking $617 billion.

Imports also grew modestly, resulting in a trade surplus of $514.4 million in June and $1.43 billion year-to-date. With a new 30% U.S. tariff on Mexican imports scheduled for August, the Mexican administration is actively working to prevent its implementation and mitigate future trade imbalances.