Mexico opened 2026 with a trade deficit, reversing the surplus recorded at the close of the previous year.
According to data released by the Instituto Nacional de Estadística y Geografía (INEGI), exports totaled $48.0 billion in January, up 8.1% year over year. Imports reached $54.5 billion, marking a 9.8% annual increase.
The figures resulted in a trade deficit of $6.48 billion for the month.
Oil-related trade showed notable declines, with petroleum exports down 33.5% and petroleum imports falling 35.2% compared to a year earlier. Meanwhile, non-oil extractive exports — including minerals and other raw materials — surged 84.1%.
On the import side, non-oil intermediate goods posted the strongest growth.
Source: Puente Libre MX
