Manufacturing propels Mexico’s exports to all-time high in September

The worth of Mexico’s exports surged to a grounds precocious successful September, driven by a year-over-year summation of astir 16% successful manufacturing assemblage export revenue. 

The nationalist statistic bureau INEGI reported Monday that Mexico’s exports were worthy US $56.48 cardinal successful September, an summation of 13.8% compared to the aforesaid period of 2024. 

The yearly percentage-terms summation successful the worth of Mexico’s exports was the highest successful 14 months. 

The maturation complaint was much than treble the 5.7% summation successful exports recorded betwixt January and September, a play successful which the shipment of Mexican products overseas generated gross of $481.64 billion. 

Mexico is connected way to acceptable a caller grounds for export gross successful 2025, and to transcend $600 cardinal successful net for conscionable the 2nd clip ever. The summation successful export gross this twelvemonth has helped prop up the Mexican economy, whose gait of maturation is slowing.  

Mexico’s spending connected imports besides accrued astatine a accelerated clip successful September, expanding 15.2% annually to $58.88 billion, according to INEGI. Mexico frankincense recorded a commercialized shortage of $2.39 cardinal past month, a 60.9% summation compared to September 2024. 

In the archetypal 9 months of 2025, Mexico imported goods worthy $484.56 billion, a 2% summation compared to the aforesaid play of past year. Mexico recorded a commercialized shortage of $2.92 cardinal betwixt January and September, an 85% diminution compared to the shortage successful the archetypal 9 months of past year. 

Manufacturing assemblage drives export growth 

Like U.S. commercialized partners astir the world, Mexico has been affected by the Trump administration’s assertive protectionist agenda. However, Mexico has maintained a comparative vantage implicit astir different U.S. commercialized partners arsenic the bulk of its commercialized with the United States — the recipient of the bulk of Mexico’s exports — occurs wrong the model of the USMCA escaped commercialized pact and is frankincense exempt from tariffs.

That situation, on with the interconnectedness of the North American system and the China-U.S. commercialized war, among different factors, has allowed Mexico to proceed increasing its export gross this twelvemonth adjacent arsenic the United States authorities collects tariffs connected immoderate Mexican exports, including airy vehicles, alloy and aluminum, that antecedently entered the U.S. duty-free.     

The year-over-year maturation successful export gross successful September tin mostly beryllium attributed to a 15.7% summation successful manufacturing assemblage income. 

The worth of Mexico’s manufacturing assemblage exports was $52.37 cardinal past month, accounting for astir 93% of full revenue. 

The worth of non-automotive assemblage manufacturing exports surged 23.9% annually past period to scope $36.98 billion. In contrast, gross from car assemblage exports declined 0.2% compared to September 2024, indicating that the United States’ 25% tariff connected airy vehicles made successful Mexico — with an exemption for U.S. contented — is having an effect. The yearly diminution successful the worth of car assemblage exports sent to the United States past period was a much pronounced 7.2%.

All told, Mexico’s car exports brought successful gross of $15.38 cardinal past month. 

In the archetypal 9 months of 2025, yearly maturation of 7.5% successful manufacturing assemblage export gross was a cardinal origin successful the 5.7% summation successful the full worth of Mexico’s exports successful the period.  

The worth of non-automotive assemblage manufacturing exports accrued 13.6% to $300.65 cardinal betwixt January and September, portion gross from car exports declined 3.7% to $138.82 billion. The worth of each manufacturing assemblage exports successful the play was $439.47 billion, accounting for 91% of Mexico’s full export gross betwixt January and September. 

Another export class that recorded beardown maturation successful September, and successful the archetypal 9 months of 2025 was mining. Revenue from mining assemblage exports accrued 20% annually to $1.16 cardinal successful September, and 23.8% successful the archetypal 9 months of 2025 to scope $9.53 billion. However,  mining exports lone marque a insignificant publication to Mexico’s wide export revenue, accounting for astir 2% of full net successful the archetypal 9 months of the year. 

Mexico’s cultivation and lipid exports some declined successful yearly presumption successful September and successful the January-September period. 

The agriculture sector, which is particularly susceptible to adverse clime conditions, brought successful export gross of $1.29 cardinal successful September, a 14.5% year-over-year decrease. In the archetypal 9 months of 2025, cultivation assemblage export gross totaled $16.27 billion, a diminution of 8.7%. 

Mexico has been forced to halt exports of cattle to the United States successful caller months owed to the detection of cases of New World Screwworm successful Mexican bovines. 

The worth of Mexico’s lipid exports declined 11.8% annually successful September to $1.66 billion. The petroleum sector’s export gross fell 23.6% annually successful the archetypal 9 months of the twelvemonth to full $16.35 cardinal successful the period. 

Mexico is keeping much crude astatine location arsenic it seeks to marque advancement toward achieving self-sufficiency for fuel. Petroleum assemblage export gross is besides affected by adaptable prices for oil. 

Petroleum imports are down, but spending connected intermediate goods rises 

INEGI’s latest information shows that Mexico’s reliance connected overseas substance has declined, arsenic the worth of petroleum imports fell 8.3% annually to $35.19 cardinal successful the archetypal 9 months of 2025. 

Mexico’s outlay connected user goods fell 5.8% to $70.21 cardinal successful the aforesaid period. That diminution stemmed from a 22% alteration successful spending connected petroleum-related user goods, specified arsenic gasoline, and a 2% simplification successful expenditure connected the import of each different user goods. 

Imports of superior goods besides declined betwixt January and September, their worth falling 8.8% to $41.77 billion. 

In contrast, the worth of imports of intermediate goods — products utilized arsenic inputs successful the accumulation of different goods — accrued 5% annually successful the archetypal 9 months of 2025 to scope $372.58 billion. Expenditure connected the import of intermediate goods accounted for 77% of Mexico’s full outlay connected imports betwixt January and September.       

With reports from El Economista