Mx June exports up 10.6%, manufacturing leads

Mexico’s export revenue increased by more than 10% annually in June, boosted by a significant spike in manufacturing sector earnings.

The national statistics agency INEGI reported Monday that export revenue totaled US $54.001 billion last month, a 10.6% increase compared to June 2024.

It was the first double-digit annual increase in export earnings since November 2024, and therefore the first increase of that magnitude since United States President Donald Trump began his second term and adopted a range of protectionist measures against U.S. trading partners, including Mexico. More than 80% of Mexico’s export earnings comes from goods sent to the United States.

As usual, the lion’s share of the revenue in June came from the export of goods made in Mexico’s vast manufacturing sector.

Earnings from the export of manufactured goods increased 13.5% annually to $49.68 billion, or 92% of total revenue.

Within the manufacturing category, revenue derived from automotive sector exports increased 4.5% to $16.32 billion, even as the United States charged tariffs on vehicles and non-USMCA compliant auto parts made in Mexico. Earnings from auto exports to the U.S. increased 6%, while those sent to other markets declined 2.6%.

Earnings from the export of non-auto sector manufactured goods surged 18.5% annually in June to reach $33.36 billion.

Oil exports generated $1.45 billion in earnings, a 30.4% year-over-year decrease. Mexico sent about 34% less crude oil abroad in June compared to the same month of last year, and the price per barrel was around 13% lower than a year earlier, according to data published by INEGI.

Revenue from agricultural sector exports declined 2.2% annually in June to $1.71 billion, while mining sector export earnings fell 5.5% to $1.14 billion.