Mexico's Exports Surge 7.4% Despite U.S. Tariffs and Economic Slowdown
Mexico's exports have shown remarkable resilience, with August's 7.4% annual increase outpacing the 4.7% growth seen in the first eight months of 2025. This performance is notable given the challenges posed by new U.S. tariffs and a slower economic growth environment.
The manufacturing sector drove this growth, with export revenue rising 9% annually to $51.7 billion in August, accounting for 93% of Mexico's total export income. This sector has been particularly robust, with export revenue up 6.5% to $387.1 billion between January and August, representing 91% of total export income.
The mining sector also contributed positively, with export revenue increasing in August and the first eight months of 2025. However, the agricultural sector saw a decline due to unfavourable climatic conditions, both in August and the January-August period.
Mexico's exports were worth US $55.72 billion in August and $425.15 billion in the first eight months of the year. Despite these gains, Mexico still faces a trade deficit, with a deficit of nearly $2 billion in August and $530 million in the first eight months of the year.
Mexico's exports are on track to set a new record in 2025, following $600 billion in exports in 2024. While the oil sector export revenue declined annually in August and the January-August period, the manufacturing and mining sectors' strong performance has helped Mexico maintain its export momentum. Despite the challenges, Mexico's export growth continues to be a significant driver of its economy.
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