Mexico Records Record Trade Surplus in April 2026, Driven by Non-Oil Manufacturing Exports

In April 2026 Mexico’s merchandise exports reached US$72.042 billion, the highest monthly total on record, while imports were US$67.522 billion. The trade surplus of US$4.52 billion reversed the US$88.1 million deficit in April 2025. Exports grew 32.6 % year-on-year, imports 24.1 %, per INEGI. The United States accounted for 83.6 % of exports.

Non-oil exports: the engine of tradeRecord Foreign Trade: Mexico Posts a $4.52 Billion Surplus in AprilMexico boosts its trade surplus in April

Non-oil exports drove the surge, expanding 33.5 % YoY. Manufacturing exports rose 34 % to US$65.687 billion, led by automotive (8.2 % increase) and a 22.5 % rise in non-U.S. shipments. Mining and metallurgy grew 42.5 %, electrical and electronic equipment 15.9 %. Agricultural exports reached US$2.23 billion, with melons, watermelons and papayas up 73.2 % and citrus up 55.8 %; strawberries and avocados fell. The non-oil extractive sector expanded 71 % to US$2.078 billion.

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April

Imports of intermediate goods reached US$54.228 billion, a 29.8 % rise, supporting manufacturing. Consumer-goods imports grew 7.7 % to US$8.499 billion; capital-goods rose 1.3 % to US$4.794 billion. Purchases of energy products fell 5.3 %, reflecting lower domestic fuel demand.

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April

INEGI highlighted that Mexican exports are maintaining strong momentum, driven by manufacturing with a broad automotive base and computer-product growth. The agency said the trade balance shows strong competitiveness in global value chains and noted close industrial integration with North America. It also observed that rising intermediate-goods imports confirm the equipping of manufacturing plants.

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April

• “Record in Foreign Trade Overall, the flow of Mexican exports maintains key momentum, driven primarily by the manufacturing sector, with a broad base in the automotive industry and strong growth in computer production.” — National Institute of Statistics and Geography (INEGI)

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April

• “This is a sign of strong competitiveness in global value chains.” — National Institute of Statistics and Geography (INEGI)

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April

The sources reviewed did not present any dissenting commentary or criticism of the trade performance. No opposition viewpoints were identified in the reported data.

Non-oil exports: the engine of trade

Minor variations appear across reports: export values are cited as US$72.042 billion, US$72.0418 billion, and US$72.042 billion; import totals are listed as US$67.522 billion and US$67.5218 billion. Growth percentages for non-oil exports are reported as 33.5 % and 34 %, reflecting rounding differences. The sources do not disclose the underlying methodology for sector-level calculations, leaving a gap in verification of the reported percentages.

Non-oil exports: the engine of trade

The record surplus underscores Mexico’s deepening role in North American supply chains and its capacity to expand non-oil manufacturing output. Higher imports of intermediate goods indicate continued investment in production capacity, while the decline in energy-product purchases reflects reduced demand for fuel.

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April

Analysts will continue to use INEGI’s data as a barometer of domestic production, monitoring export momentum and import trends in the coming months.

Record Foreign Trade: Mexico Posts a $4.52 Billion Surplus in April