Mexico Exports Hit All-Time High in September

According to the national statistics agency INEGI, Mexico’s exports reached US $56.48 billion in September 2025, up 13.8% year-over-year (YoY), the highest annual increase in 14 months and an all-time high for September. From January to September, exports totaled $481.64 billion, up 5.7% YoY, putting Mexico on track to exceed $600 billion in annual exports for the second time, supporting economic growth. Despite U.S. tariffs under the Trump administration affecting some sectors, the USMCA free trade pact exempts most U.S.-bound exports, allowing Mexico to benefit from the U.S.-China trade war and interconnected North American economy.

Manufacturing exports were the key driver, reaching $52.37 billion in September (up 15.7% YoY, 93% of total exports). Non-automotive manufacturing totaled $36.98 billion (up 23.9% YoY); automotive $15.38 billion (down 0.2% YoY overall, with 7.2% decline to the U.S. due to 25% tariffs on light vehicles, though U.S. content exemptions mitigate some impact). From January-September, manufacturing exports were $439.47 billion (up 7.5% YoY, 91% of total); non-automotive $300.65 billion (up 13.6% YoY); automotive $138.82 billion (down 3.7% YoY). Manufacturing strength offset declines in agriculture and oil exports.

Imports rose 15.2% to $58.88 billion in September, resulting in a $2.39 billion trade deficit (up 60.9% YoY). From January-September, imports totaled $484.56 billion (up 2% YoY), with a $2.92 billion deficit (down 85% YoY). Other sectors: mining $1.16 billion (up 20% YoY); agriculture $1.29 billion (down 14.5% YoY, affected by climate and halted cattle exports to U.S. due to New World Screwworm); oil $1.66 billion (down 11.8% YoY, due to retaining crude for domestic fuel self-sufficiency and oil price volatility). Mexico’s export growth helps bolster the economy amid slowing growth, facing Q3 challenges.