Mexico Trade Deficit Narrows in August
In August 2025, Mexico registered a trade deficit of $1.94 billion. This was a slight improvement from the $2.12 billion deficit seen the previous year, although it exceeded market expectations of $1.2 billion. The country's total exports for the period increased by 7.4% compared to the previous year, totalling $55.7 billion.
This upturn was primarily due to an 8.9% boost in non-oil exports, despite a significant 26.3% decrease in oil exports. Manufactured goods' exports saw a 9% increase to reach $51.7 billion, notably driven by machinery and other specialized equipment, which saw a vast increase of 69.3%. Additionally, extractive exports sharply rose by 41.3% to achieve $1.1 billion.
However, it wasn't all positive news; agricultural exports experienced a 14.3% decline to settle at $1.2 billion. This downturn was brought about by substantial decreases in the export figures of tomatoes and chickpeas, which fell by 26.9% and 23.8% respectively.
On the other hand, imports slightly dipped 0.2% to $57.7 billion. This decrease was largely due to a 7.4% reduction in capital goods and a 5.8% fall in consumer goods, largely reflecting significant decreases in oil-related products. Nonetheless, the import of intermediate goods rose by 1.8%, bolstered by a 2.3% increase in non-oil goods.
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