México Balança Comercial

México's trade surplus narrowed to $1.03 billion in May 2025 from $1.99 billion a year earlier, above market expectations of $0.37 billion. Exports slipped 0.4% year-on-year to $55.48 billion, weighed by a 35.2% drop in oil exports and declines in agricultural (-6.6%) and vehicle (-9%) shipments. In contrast, manufactured goods rose 1.5%, and other non-oil exports increased 7.4%, lifting total non-oil exports by 1.8%. Imports rose 1.4% to $54.45 billion, driven by a 28.9% jump in oil purchases and a 4% rise in intermediate goods. Non-oil imports edged down 0.3%, while consumer (-0.5%) and capital goods (-15%) also declined.