Overview

• Mexico’s August exports rose to $55,718 million while imports slipped 0.2% to $57,662 million, leaving a $1,944 million monthly trade deficit that widened from July, according to INEGI.
• Non‑petroleum manufactures increased 9.0% to $51,705 million, automotive shipments fell 1.2% overall (down 5.9% to the U.S. but up 29.1% to other markets), and extractive exports jumped 41.3%.
• Petroleum exports dropped 26.3% to $1,638 million as crude volumes eased to 594,000 barrels per day and the Mexican crude mix averaged $62.93 per barrel.
• Mexico’s export resilience unfolded after new U.S. reciprocal tariffs took effect in early August, with a 90‑day extension that kept Mexico’s prevailing rates unchanged.
• Argentina’s private IGA showed activity up 0.7% month on month and 5.5% year on year in August, led by financial intermediation, wholesale trade, manufacturing and mining, while agriculture and energy contracted and analysts cautioned the rebound remains vulnerable ahead of October’s elections.