In a promising development for Mexico’s economy, exports surged by 40.4% in August, bringing significant benefits to countless citizens as industries expand and new job opportunities emerge. The national statistics agency INEGI reports that total exports reached an impressive USD 549.4 billion from January to August, with August alone contributing over USD 78 billion.
This strong performance comes alongside a notable increase in imports, which rose by 34.2% in August, resulting in a total of USD 539.5 billion for the first eight months of the year. Despite this, Mexico achieved a trade surplus of USD 605.4 million in August, accumulating to USD 9.86 billion for the year.
Driving this export growth are non-automotive manufacturing exports, which soared more than 63% in August, largely fueled by an ongoing rise in computer equipment sales that began in 2024. Year-to-date, manufacturing exports are up 30.8%, with non-automotive manufacturing seeing a remarkable 45% increase, the highest since 1994.
However, there are ongoing challenges. Analysts underscore two key concerns: Mexico’s persistent reliance on the United States as its primary export market and dependence on Asian countries for essential components in the burgeoning computer sector. A staggering 84.7% of non-oil exports head to the U.S., with nearly USD 83 billion worth of servers, vital for data centers and artificial intelligence, being shipped primarily there.
On the import side, vital components such as processors and memory chips largely come from Taiwan, China, and other Asian nations, with Taiwan being a major supplier. This reliance raises concerns regarding future U.S. demands for more North American content in technological goods, which could pose risks to Mexico’s export sector if domestic production does not keep pace.
While other sectors, including oil and agriculture, faced slight declines, this inflection point in technology exports presents an optimistic view of the Mexican economy. The acceleration in technological industries, especially in collaboration with the United States, indicates that Mexico may be well-positioned to navigate these challenges ahead.