México Balança Comercial

Mexico posted a $0.6 billion trade surplus in November of 2025, swinging from the $0.7 billion deficit from the corresponding period of the previous year and loosely in line with expectations of a $0.5 billion. Exports expanded by 7.9% annually to $56.4 billion. Sales grew for manufacturing (10.9% to $52.1 billion amid a sharp increase in non-auto manufacturing exports (17.7% to $36.3 billion) and a surge in extractive goods (51.6% to $1.3 billion), supported by the surge in silver prices. These offset the 2.1% drop (to $15.8 billion) for auto exports, pressured by the tariffs on the sector from top destination United States, which fell by 4.8%. Still, exports to the US, which account for 83% of sales, grew 8.5% annually. Meanwhile, imports rose 5.2% to $55.7 billion, as gains for intermediate goods (8.7% to $42.9 billion) offset a decline for capital goods (-16.7% to $4.4 billion).