Mexico Trade Deficit Narrows in August

Mexico posted a $1.94 billion trade deficit in August 2025, narrowing from a $2.12 billion gap a year earlier but above market forecasts of $1.2 billion. Exports rose 7.4% year-on-year to $55.7 billion, driven by an 8.9% increase in non-oil shipments, while oil exports fell 26.3%. Manufactured exports climbed 9% to $51.7 billion, led by machinery and specialized equipment (69.3%). Extractive exports surged 41.3% to $1.1 billion. In contrast, agricultural exports fell 14.3% to $1.2 billion, with sharp drops in tomatoes (–26.9%) and chickpeas (–23.8%). Imports edged down 0.2% to $57.7 billion, with capital goods down 7.4% and consumption goods down 5.8%, reflecting steep declines in oil-related products. Intermediate goods imports rose 1.8%, supported by a 2.3% increase in non-oil goods.