Mexican exports surge in April; trade balance maintains multi-billion dollar surplus

Mexico's trade balance showed a surplus of $4.52 billion in April, bolstered by a significant 32.6% year-on-year surge in exports, according to data from the National Institute of Statistics and Geography (Inegi).

This April surplus marks a slight decrease from the $5.93 billion surplus recorded in March. Inegi attributed the monthly decline to a reduction in the surplus from non-petroleum products and an increase in the deficit related to petroleum products.

Overall exports climbed to $72.04 billion in April. Oil exports saw a modest increase of 7.9% to $2.047 billion, while non-oil exports experienced robust growth of 33.5%, reaching $66.995 billion. Exports directed towards the United States grew by 34.8% annually, with exports to the rest of the world increasing by 26.7%.

Last year, Mexico achieved a trade surplus of $771 million, a notable improvement from the $8.212 billion deficit in 2024. This turnaround was largely driven by a strengthened manufacturing sector, reduced dependence on oil, and greater market diversification. Despite concerns from international bodies like the International Monetary Fund (IMF) and the World Bank about potential recessions linked to U.S. tariff policies, Mexico has managed to avoid such downturns, partly due to its strong export performance, particularly with the U.S., which accounts for a quarter of its economy.