Background on Mexico’s Export Growth
Mexico reported a 7.4% year-over-year growth in its product exports, reaching $55,718.2 million in August, according to the National Institute of Statistics and Geography (Inegi). This growth was fueled by reciprocal tariffs imposed by the United States on other countries and increased sales of manufacturing and extractive products.
Impact of Reciprocal Tariffs
Reciprocal tariffs, implemented on August 7, imposed tariffs ranging from 10% to 41% on 69 countries or jurisdictions. The minimum tariff increased from 10% to 15%, except for the United Kingdom, Falkland Islands, and Brazil, which remained at 10%. Canada was subjected to a 35% tariff for all products that do not comply with the USMCA (United States-Mexico-Canada Agreement).
President Trump also set a 50% tariff on products imported from Brazil, partly due to its treatment of former President Jair Bolsonaro, and a 50% tariff on India for purchasing Russian oil.
Regarding Mexico, Trump announced a 90-day extension, maintaining the existing tariffs and postponing the planned increase to 30% that was initially set for August 1. This tariff would apply to goods not complying with the USMCA.
Export Performance by Sector
In August 2025, Mexico’s manufactured product exports totaled $51,705 million, marking a 9.0% annual increase.
- Significant variations were observed in machinery and specialized equipment for diverse industries (69.3%), professional and scientific equipment (9.9%), and optical photographic apparatus and jewelry (4.2%).
- Automotive product exports fell by 1.2%, driven by a 5.9% decrease in sales to the United States and a 29.1% increase in exports to other markets.
Oil Exports and Agro-Food Sector
In August, oil exports were valued at $1,638 million, comprising $1,159 million from crude oil sales and $479 million from other petroleum products.
- The average export price of Mexico’s crude oil for export was $62.93 per barrel, a decrease of 0.20 dollars from the previous month and 8.12 dollars from August 2024.
- Daily crude oil export volume was 594,000 barrels, lower than July’s 692,000 barrels and August 2024’s 769,000 barrels.
Agro-food and fishery exports totaled $1,240 million in August, a 14.3% annual decline.
- Notable decreases were seen in tomato (-26.9%), chickpea (-23.8%), fresh legumes and vegetables (-19%), mango (-14.2%), and avocado (-7.9%) exports.
- Increases were recorded in fruit and edible fruits (27.4%) and fish, crustaceans, and mollusks (24.3%) exports.
Extractive Sector Performance
The extractive sector reached $1,135 million, marking a 41.3% annual increase.
In the first eight months of 2025, total export value summed $425,154 million, representing a 4.7% annual advance.
- This growth stemmed from a 6.2% rise in non-oil exports and a 24.7% drop in oil exports.
Key Questions and Answers
- What drove Mexico’s export growth in August 2025? The growth was primarily due to reciprocal tariffs imposed by the United States and increased sales of manufacturing and extractive products.
- How did different sectors perform in terms of exports? Manufactured products, machinery and specialized equipment, and optical photographic apparatus and jewelry experienced significant growth. Automotive product exports fell, while agro-food and fishery exports saw mixed results.
- What was the performance of Mexico’s oil and extractive sectors? Oil exports totaled $1,638 million, with a decrease in export volume and price. The extractive sector grew by 41.3%, contributing significantly to overall export growth.
