By The Rio Times | Created at 2026-09-30 12:47:03 | Updated at 2026-09-30 13:40:39
1 hour ago
MEXICO · ECONOMY
Key Facts
- —The result Goods exports reached US$78.010 billion in August 2026, up 40.4% on August 2025, INEGI reported on 28 September.
- —The balance Exports beat imports of US$77.405 billion, leaving a surplus of US$605 million after a US$848 million deficit in July.
- —The driver Electrical and electronic equipment exports rose 122.3% in a year, while car and auto-part exports fell 2.2%.
- —The year so far From January to August 2026, Mexico posted a US$9.860 billion surplus, against a US$913 million deficit a year earlier.
- —Oil Oil exports slipped 2.8% to US$1.582 billion, as crude shipments dropped to 351,000 barrels a day in August.
Mexico exports climbed 40.4% in August on a surge in electronics sales, while car exports slipped.
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Mexico exports rose 40.4% in August 2026 from a year earlier, to US$78.010 billion. The gain left a trade surplus of US$605 million, INEGI, the national statistics institute, reported on 28 September.
A surplus after a July deficit
INEGI compiles the monthly trade figures with SAT, the federal tax agency, the Economy Ministry and Banco de México, the central bank. The August numbers are early estimates and will be revised in later releases.
Imports rose 34.2% to US$77.405 billion, a little less than exports. That turned July’s deficit of US$848 million into a surplus in August.
Two things moved the balance. The surplus in non-oil goods grew to US$4.047 billion from US$2.809 billion, and the oil deficit narrowed to US$3.441 billion.
After adjusting for seasonal patterns, the surplus was larger still, at US$3.489 billion. On that basis exports rose 1.23% from July, while imports fell 3.44%.
Electronics carry the gain
Manufactured goods make up more than nine in ten of Mexico’s exports. In August they reached US$73.619 billion, up 42.6% in a year.
The standout was electrical and electronic equipment, where exports rose 122.3%. Mining and metal products gained 50.4%, and plastics and rubber 10.6%.
Non-automotive manufacturing as a whole jumped 63.2% to US$57.692 billion. INEGI’s monthly release does not break the electronics category down by product.
INEGI has not published which companies drove the increase. It also does not show how much of the value was first imported as parts.
In July, exports hit a record US$81.420 billion, led by computer equipment. August came in lower in value but kept a similar pace of growth.
Cars slip while electronics climb
The car industry, a pillar of Mexican manufacturing, went the other way. Automotive exports fell 2.2% to US$15.926 billion.
Sales of vehicles and parts to the United States slipped 1.0%, and those to other markets fell 7.8%. For the first eight months, car exports were almost flat, up 0.8%.
Over the eight months, car exports totalled US$125.525 billion. Other manufactured goods brought in US$380.299 billion, up 45.0%.
Farm and fishing exports eased 1.6% to US$1.154 billion. Grapes and raisins fell 60.7% and tomatoes 17.6%, while peppers rose 39.1%.
The United States buys most of it
Non-oil exports to the United States rose 45.2% in August, and those to the rest of the world 23.5%. The US took 84.69% of Mexico’s non-oil exports from January to August.
That concentration is the main source of both strength and risk. Cars and parts sold to the US made up 19.55% of all non-oil exports from January to August.
Mexico and the United States are reviewing the USMCA, the trade pact that also includes Canada. The review is moving through a series of negotiating rounds.
Imports tell the other half of the story. Purchases of intermediate goods, the parts and materials that factories process for export, rose 41.9% to US$63.255 billion.
Imports of capital goods, the machines companies buy to expand, grew only 6.9% to US$5.018 billion. Consumer goods imports rose 8.9% to US$9.132 billion.
Less crude leaving the country
Oil exports fell 2.8% to US$1.582 billion, of which crude was US$827 million. The rest came from other oil products.
The Mexican export blend of crude averaged US$75.98 a barrel, up US$13.64 from August 2025. Volumes fell harder, to 351,000 barrels a day from 594,000 a year earlier.
Lower volumes mean Mexico earns less from crude even when prices rise. The country buys far more fuel abroad than it sells.
Oil imports rose 29.6% to US$5.023 billion, more than three times oil exports. Gasoline and gas imports for consumers climbed 44.1%.
What it means for the peso and the year
A trade surplus means more dollars coming in than going out through goods trade. That supports the peso, although interest rates and global markets often move it more.
The peso weakened this week even after the figures. It broke through 18 per dollar on 29 September and closed at 18.06 on 30 September.
For the year, the picture has turned. Mexico ran a US$18.447 billion goods deficit in 2024 and a small US$209 million surplus in 2025.
Full-year exports reached US$664.267 billion in 2025, up from US$617.771 billion in 2024. This year is on course to pass that level, if the pace holds.
From January to August 2026, exports rose 29.3% to US$549.398 billion and imports 26.8% to US$539.537 billion. INEGI will publish September’s figures on 27 October.
How long the pace lasts depends on US demand for electronics and on the trade review, and neither is settled.
More: Mexico news, every day from The Rio Times.
Frequently Asked Questions
How much did Mexico export in August 2026?
Mexico exported US$78.010 billion of goods in August 2026, up 40.4% on August 2025. Imports were US$77.405 billion, leaving a surplus of US$605 million.
What drove the rise in Mexico exports?
Manufacturing exports rose 42.6%, led by electrical and electronic equipment, which more than doubled with a 122.3% gain. Car exports fell 2.2%.
Does Mexico have a trade surplus in 2026?
Yes. From January to August 2026, Mexico recorded a goods trade surplus of US$9.860 billion. In the same period of 2025 it had a deficit of US$913 million.
Sources: INEGI — Balanza Comercial de Mercancías de México, agosto de 2026 (información oportuna) · Expansión
