Mexico's Exports Grew 37.9 Percent and Imports 33.1 Percent Annually in September
mexicosolidarity.com
September exports hit a record 77.8 billion dollars, led by a 94.7 percent jump in electronics, and the year-to-date trade balance is now in surplus.

This article by Clara Zepeda originally appeared in the October 27, 2026 edition of La Jornada, Mexico’s premier left wing daily newspaper.

In September 2026, merchandise exports increased 37.9 percent annually, driven by non-automotive manufactures, which rebounded 53 percent compared to the ninth month of the year, figures from the National Institute of Statistics and Geography (Inegi) revealed.

According to timely foreign trade information (merchandise trade balance), the most significant increases within manufactured products were in exports of electrical and electronic equipment and devices, with growth of 94.7 percent, amid the technology boom in the United States and the world; they were followed by mining and metallurgy products, 15.5 percent, and special machinery and equipment for various industries, 14.7 percent.

Thus, 84.40 percent of Mexican goods were exported to the United States through September 2026; to the rest of the world, 15.20 percent.

According to Inegi, the value of merchandise exports was 77,797 million dollars last September, an unprecedented figure for a September, and an amount 37.9 percent higher than the ninth month of last year, its best advance for a ninth month of the year.

This was due to growth of 38.8 percent in non-oil exports and 9.6 percent in oil exports. Within non-oil exports, there were annual increases of 43.5 percent in those destined for the United States and 16.4 percent in those channeled to the rest of the world.

For its part, the value of merchandise imports was 78,403 million dollars, also a figure never seen before for a ninth month of the year, and represented an annual increase of 33.1 percent.

Intermediate-use goods were imported for a value of 63,103 million dollars, a level 38.8 percent higher than that reported in September 2025. In turn, this figure derived from advances of 39.6 percent in imports of non-oil intermediate-use products and 26 percent in those of oil intermediate-use goods.

For their part, imports of capital goods reached 5,477 million, which implied an annual rise of 18.7 percent.

Thus, in September 2026, imports exceeded exports by 606.1 million dollars, according to timely trade balance data.

In Nine Months

From January to September 2026, the value of total exports added up to 627,194 million dollars, 30.4 percent more than during the first nine months of 2025.

Sales abroad were driven by an increase of 31.4 percent in non-oil exports, as a decline of 0.2 percent was reported in oil exports.

In the first nine months of this year, the structure of the value of merchandise exports was manufactured goods, 92.3 percent; non-oil extractive products, 2.6 percent; oil goods, 2.6 percent; and agricultural and livestock products, 2.5 percent.

The accumulated value of total imports, for its part, was 617,940 million dollars, which represented an increase of 27.5 percent compared to that observed in the same period of 2025. Within it, non-oil imports rose 28.2 percent and oil imports, 19.4 percent annually.

The structure of the value of imports was made up of intermediate-use goods, 80.4 percent; consumer goods, 12.5 percent; and capital goods, 7.1 percent.

For the first nine months of 2026, the trade balance showed a surplus of 9,254 million dollars. In the same period of 2025, it registered a deficit of 3,398 million dollars.

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