Mexico Trade and Investment Report 2025
Overview
In 2025, Mexico’s exports rose 7.6% year over year and imports rose 4.4%, both reaching record highs. The trade balance returned to surplus for the first time since 2020. Industrial machinery and equipment exports grew sharply, surpassing automobiles and parts for the first time. Exports to the United States accounted for 83.0% of the total. Imports of industrial products and parts and intermediate goods increased, while mineral products and capital goods declined.
Key points
- Both exports and imports set new records, and the trade balance was in surplus.
- Industrial machinery and equipment exports surpassed automobiles and parts for the first time.
- Exports to the United States accounted for 83.0% of total exports.
Overview
In 2025, exports totaled USD 664.837 billion, up 7.6% year over year, while imports totaled USD 664.066 billion, up 4.4%. Two-way trade totaled USD 1.328903 trillion.
The trade balance recorded a surplus of USD 771 million, the first surplus since 2020.
Details
Industrial products and parts, which account for about 90% of exports, rose 10.6% to USD 577.298 billion. Automobiles and parts fell 5.3% to USD 152.137 billion, and passenger cars fell 4.7% to USD 59.616 billion. Electrical and electronic equipment increased 4.9% to USD 113.013 billion, while industrial machinery and equipment rose 54.8% to USD 163.958 billion.
Since April 2025, passenger cars have been subject to tariffs under Section 232 of the Trade Expansion Act of 1962. USMCA-origin goods are not fully exempt. The source says the cars appear to have been affected by the Trump tariffs.
Exports to the United States rose 7.7% to USD 551.976 billion. The leading items shipped to the United States were automatic data processing machines at USD 78.2666 billion (2.5 times), passenger cars at USD 44.868 billion (down 5.0%), and auto parts at USD 36.798 billion (down 1.5%). Exports to Canada rose 17.3% to USD 22.169 billion, while those to China rose 2.8% to USD 10.215 billion.
Industrial products and parts, which account for about 90% of imports, rose 5.5% to USD 576.818 billion, while automobiles and parts fell 4.2%. Industrial machinery and equipment increased 31.7%, and electrical and electronic equipment rose 6.7%. Mineral products declined 7.5%, and gasoline and diesel declined 17.8%. Capital goods fell 8.7%, while imports of intermediate goods rose 7.2%.
The United States accounted for 37.6% of imports, which fell 4.5% to USD 249.797 billion. The largest item, refined petroleum products, totaled USD 17.817 billion (up 20.9%), followed by auto parts at USD 16.613 billion (down 7.6%). China ranked second, with imports rising 2.9% to USD 133.271 billion.