Non-oil exports: the engine of trade

The value of merchandise exports reached US$72.042 billion in April 2026, an unprecedented figure for Mexico, with the United States accounting for 83.6% of the total, according to data from the National Institute of Statistics and Geography (INEGI). Overseas sales increased by 32.56% compared to April 2025.

This performance was driven primarily by non-oil exports, which grew 33.5% year-over-year. Within this category, manufacturing exports rose 34%.

In the January-April 2026 period, the value of total exports totaled US$247.628 billion, representing annual growth of 21.8%, due to a 23.4% increase in non-oil exports and a 17.2% decrease in oil exports.

Thus, Mexico recorded a trade surplus of US$4.52 billion. This surplus compares to the US$5.932 billion reported last March. For the first four months of 2026, the trade balance showed a surplus of US$3.508 billion. In the same period of 2025, it reported a deficit of US$314 million.