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Mexico’s Exports Set Monthly Record in October, Lifting Trade Balance Back to Surplus

Non‑oil manufacturing strength offset a slump in autos under U.S. tariffs to deliver a modest $606 million surplus.

Overview

  • Exports rose 14.2% year on year to $66,132.6 million, the highest monthly level on record, according to Inegi.
  • Imports climbed 12.8% to a record $65,526.5 million, led by intermediate goods, leaving a $606 million merchandise surplus.
  • Manufactured exports jumped 17.4% to $61,644 million, while automotive shipments fell 14% and petroleum exports dropped 29.8% to $1,820 million with crude at $58.50 a barrel.
  • Non‑oil exports to the United States grew 17.1% year on year and shipments to other markets rose 12.3%.
  • For January–October, exports totaled $547.8 billion versus $550.1 billion in imports for a $2.32 billion cumulative deficit, and analysts caution that strong import growth and U.S. tariffs could pressure the balance.