Overview
Mexico’s total exports increased by 7.9% to $56,411.9 million in November, driven by sales of non-oil manufactures, reported the National Institute of Statistics and Geography (Inegi) on Tuesday.
Export and Import Details
- Exports: Total exports reached $56,411.9 million in November, up 7.9% from the previous year.
- Imports: Mexican imports totaled $55,749.1 million, marking a 5.2% increase.
These results come a week after the United States Trade Representative (USTR) highlighted that Mexico has captured approximately 25% of the reduction in the US-China trade deficit, showcasing Mexico’s significant role in bolstering the resilience of the US supply chain.
Export Breakdown
- Manufacturing Sector: Manufacturing exports, excluding automotive, grew by 17.7%, while automotive manufacturing exports decreased by 2.1%.
- Oil Exports: Petroleum exports fell by 40.4%, agro-livestock exports dropped by 21.4%, and extractive exports increased by 51.6%.
Trade Policy Context
The Mexican government is preparing to begin the joint review of the US-Mexico-Canada Agreement (T-MEC) in January, as it accounts for 86.5% of its global manufactured exports.
- US Tariffs: The US customs currently apply tariffs of 35% to Canada and 25% to Mexico on products that do not comply with the T-MEC due to alleged non-cooperation on fentanyl and migration. Tariffs of 25% are applied to light vehicles to both countries (excluding US content), and 50% on steel, aluminum, and copper to both nations.
- Tariff Exemptions: For the latter tariffs, the US establishes exceptions for goods derived from steel whose steel content has been processed in another country from scrap steel and molten, as well as goods derived from aluminum that has been melted and shaped in the US.
Export Performance by Destination
Within non-oil exports in November, exports to the US grew by 8.5% annually, while those directed to the rest of the world increased by 20.9%.
- Manufactured Products: The value of manufactured product exports was $52,085 million, representing a 10.9% annual increase.
- Automotive Exports: Automotive exports decreased by 2.1%, with a 4.8% drop in sales to the US and a 13.3% rise in exports to other markets.
Key Sectoral Performance
Oil Exports
In November 2025, the value of petroleum and other oil product exports was $1,547 million. This amount comprised $1,033 million from crude oil sales and $514 million from other petroleum product exports.
- Crude Oil Export Volume: The daily crude oil export volume was 597,000 barrels, lower than October’s 717,000 barrels and November 2024’s 1,088,000 barrels.
- Average Export Price: The average export price of the Mexican crude mix was $57.66 per barrel, a decrease of 0.84 from the previous month and 8.09 from November 2024.
Agro-Livestock Exports
The value of agro-livestock and fishery exports in November was $1,436 million, a decrease of 21.4% annually.
- Major Declines: The largest drops were in citrus (-45.9%), tomato (-37.9%), avocado (-34.1%), cucumber (-13.8%), and fresh legumes and vegetables (-13.2%).
- Notable Increases: The most significant annual increases were in fresh strawberry exports (70.5%) and melons, watermelons, and papayas (23.3%).
Extractive Exports
Extractive exports were valued at $1,344 million, up 51.6% annually.
Annual Trade Performance
In the first eleven months of 2025, total exports amounted to $604,186 million, an annual increase of 6.8%.
- Import Trends: There was a 3.6% increase in non-oil consumer goods imports and a 3.1% decrease in petroleum consumer goods (gasoline, liquefied petroleum gas).
- Intermediate Goods: Intermediate goods imports totaled $42,949 million, an 8.7% increase from November 2024.
- Capital Goods: Capital goods imports were $4,364 million, a 16.7% decrease.
The accumulated value of total imports from January to November was $605,845 million, a 3.3% increase compared to the same period in 2024.
