Introduction
In a year marked by mediocre GDP growth, Mexico’s economic landscape presented limited positive developments. However, one standout achievement was the robust performance of its exports. Mexican sales to foreign markets grew by 7.6%, reaching a record high of $664,837 million.
The Trump Effect and Export Resilience
This remarkable record was achieved during the first year of Donald Trump’s second term, a period characterized by protectionist rhetoric and concrete measures that made accessing the US market challenging. These included 50% tariffs on steel and aluminum, retaliatory duties on tomatoes, and a strategy to weaken the US dollar, causing a 10% appreciation of the Mexican peso and subsequently increasing the cost of Mexican goods and services.
Export Composition and Performance
The 2025 trade balance reveals the impact of Trump’s policies, internal issues, and the resilience of Mexico’s export sector. Automotive exports fell 4.2% to $185,000 million, while non-automotive exports surged 17.3% to $451,000 million. This category includes machinery, computers, electrical and electronic appliances, mining and metal products, and professional scientific equipment.
A notable exception was the 10.8% contraction in agricultural exports, following 15 years of growth. This decline can be attributed to adverse weather conditions, tariffs on Mexican tomatoes, and challenges in accessing the US market for Mexican livestock due to the gypsy moth crisis.
Steel Industry Under Pressure
The steel industry bore the brunt of Trump’s protectionism, with exports plummeting over 40% due to the 50% tariffs imposed since June. Despite company and government negotiation efforts, these measures proved ineffective. Trump viewed steel and siderurgia as symbolic within his “Make America Great Again” discourse, and there were suspicions that Mexico might have been used to smuggle Asian steel into the US.
Petroleum Exports: A Declining Sector
Mexico’s petroleum export sector has significantly downsized, with 2025 exports totaling $21,245 million—a 26% decrease from the previous year. This marks the lowest level in three decades, contrasting with petroleum and derivative imports valued at $46,797 million. Consequently, Mexico experienced a petroleum balance deficit of $25,552 million, 20% higher than in 2024.
Export Sector and Exporters: A Closer Look
With 374,000 export-focused companies, 20% of these firms generate 80% of total sales. Although Mexico ranks among the top 10 exporters globally, it lags behind China, which reported $3.3 trillion in 2025 exports. Mexico’s export destinations are heavily concentrated, with the US accounting for 83.7% of its total exports.
Key Questions and Answers
- What was the best economic news for Mexico in 2025? The standout achievement was the robust performance of Mexican exports, growing by 7.6% and reaching a record high of $664,837 million.
- How did Trump’s policies affect Mexican exports? Trump’s protectionist measures, such as tariffs and trade barriers, negatively impacted various sectors, with the steel industry being particularly hard-hit.
- What were the key export performances in 2025? Automotive exports fell 4.2%, while non-automotive exports surged 17.3%. Agricultural exports contracted by 10.8%.
- How did petroleum exports fare in 2025? Petroleum export revenues dropped by 26% to $21,245 million, leading to a $25,552 million balance deficit.
- What is the structure of Mexico’s export sector? There are 374,000 export-focused companies, with 20% generating 80% of total sales. The US remains the primary export destination, accounting for 83.7% of Mexican exports.
