Mexico’s export income shot up in June, led by manufacturing

Mexico’s export income elevated by greater than 10% yearly in June, boosted by a major spike in manufacturing sector earnings.

The nationwide statistics company INEGI reported Monday that export income totaled US $54.001 billion final month, a ten.6% enhance in comparison with June 2024.

It was the primary double-digit annual enhance in export earnings since November 2024, and due to this fact the primary enhance of that magnitude since United States President Donald Trump started his second time period and adopted a spread of protectionist measures towards U.S. buying and selling companions, together with Mexico. Greater than 80% of Mexico’s export earnings comes from items despatched to the USA.

As ordinary, the lion’s share of the income in June got here from the export of products made in Mexico’s huge manufacturing sector.

Earnings from the export of manufactured items elevated 13.5% yearly to $49.68 billion, or 92% of whole income.

Inside the manufacturing class, income derived from automotive sector exports elevated 4.5% to $16.32 billion, whilst the USA charged tariffs on autos and non-USMCA compliant auto elements made in Mexico. Earnings from auto exports to the U.S. elevated 6%, whereas these despatched to different markets declined 2.6%.

Earnings from the export of non-auto sector manufactured items surged 18.5% yearly in June to achieve $33.36 billion.

Income derived from the three different export sectors measured by INEGI — oil, agriculture and mining — all declined in June in comparison with the identical month of 2024.

Oil exports generated $1.45 billion in earnings, a 30.4% year-over-year lower. Mexico despatched about 34% much less crude oil overseas in June in comparison with the identical month of final yr, and the worth per barrel was round 13% decrease than a yr earlier, in line with information revealed by INEGI.

Income from agricultural sector exports declined 2.2% yearly in June to $1.71 billion, whereas mining sector export earnings fell 5.5% to $1.14 billion.

Export earnings up 4.4% in first half of 2025

INEGI additionally reported on Monday that Mexico’s export income elevated 4.4% yearly between January and June to $312.728 billion.

The info signifies that Mexico is on observe to set a brand new document for export earnings in 2025. In 2024, export income exceeded $600 billion for the primary time, totaling simply over $617 billion.

Within the first half of this yr, manufacturing sector export income elevated 6.2% yearly to $283.02 billion. Auto sector export earnings declined 4% in comparison with the primary six months of 2024, whereas income from the export of non-auto sector manufactured items elevated 12%.

Oil earnings declined 24.8% in comparison with the primary six months of final yr, whereas agricultural sector export income fell 7.7%. Mining sector export earnings elevated 22% in comparison with the primary half of 2024.

Spending on imports elevated in June, and the primary half of 2025

Mexico spent $53.487 billion on imports in June, a 4.4% enhance in comparison with the identical month of 2024, INEGI reported.

The outlay on imports within the first six months of 2025 was $311.295 billion, a rise of 0.2% in comparison with the identical interval of final yr.

Mexico recorded a commerce surplus of $514.4 million in June and $1.43 billion within the first six months of the yr.

In 2024, Mexico recorded a surplus of over $170 billion with the USA, its largest buying and selling companion. President Claudia Sheinbaum acknowledged final Thursday that Mexico’s massive surplus with the USA is “one of many considerations of President Trump,” who earlier this month introduced that the U.S. would impose a 30% tariff on imports from Mexico beginning Aug. 1.

Sheinbaum stated on Thursday that her authorities was doing “all the pieces” it might to cease the brand new responsibility from coming into into drive, and declared that the commerce imbalance with the U.S. “might be decreased by totally different mechanisms that don’t have an effect on the financial system of Mexico.”

With experiences from El Economista and La Jornada