Mexico City — After three straight months of gains, Mexico’s exports fell 1.33% in September versus August, marking their sharpest monthly decline so far in 2025. Imports, meanwhile, increased 0.82% during the same period.
Seasonally adjusted data from the national statistics agency show that the overall drop in exports resulted from declines of 4.70% in oil-related shipments and 1.23% in non-oil goods.
Within the non-oil segment, agricultural exports fell 5.20%, extending a five-month losing streak. Manufacturing exports slipped 1.20%, driven mainly by a 5.79% drop in the automotive industry. The remainder of the manufacturing sector grew 0.84%, its slowest pace in four months.
On the import side, the 0.82% monthly gain was weaker than the 3.08% recorded in August. By category, capital goods imports were down 2.22%, consumer goods 0.69%, while intermediate goods rose 1.44%.
In absolute terms, exports totaled 55.7 billion dollars in September and imports 56.5 billion, resulting in a trade deficit of 831 million dollars after three months of surpluses.
Year over year, exports grew 9.42% in September, slower than the 10.83% pace in August. The moderation came amid a 13.69% annual fall in oil exports and a deceleration in non-oil shipments, which eased from 12.46% annual growth in August to 10.30% in September.
Among non-oil exports, agricultural goods dropped 20.05% year on year and automotive shipments 2.78%, while mining exports rose 18.38% and manufacturing 11.48%.
Imports climbed 10.25% annually in September—the strongest increase in 32 months—powered mainly by non-oil intermediate goods. As a result, Mexico’s trade balance posted a surplus of 776 million dollars in the first nine months of 2025, reversing a 15.9 billion-dollar deficit from the same period a year earlier.
Source: El Diario MX
