Mexican exports totaled 77,797 million dollars in September 2026, an annual increase of 37.9% compared with the same month in 2025, according to the merchandise trade balance that INEGI published on October 27. Electrical and electronic equipment and apparatus grew 94.7% year over year, the largest advance among manufacturing components.
The figure comes with a caveat: imports totaled 78,403 million dollars, an increase of 33.1%, and the country posted a trade deficit of 606 million dollars, following the 605 million surplus in August, according to Expansión. Manufacturing concentrated the momentum, with 72,773 million dollars and an advance of 39%. For Mexico the point matters because foreign trade is the channel through which the economy links to the reorganization of supply chains in North America, in a year marked by the review of the T-MEC and the conversation about tariffs on steel and aluminum. With September, exports linked eight consecutive months with double-digit advances.
Non-oil sales to the United States rose 43.5% year over year and the automotive industry advanced 5.7%, with 16,434 million dollars. In the January to September cumulative, exports reached 627,194 million dollars, 30.4% more, with a surplus of 9,254 million. The September deficit was 75.6% lower than a year earlier. El Financiero picked up the reading of Ernesto O'Farrill, president of Bursamétrica, who placed Mexico as a key supplier of high technology in the face of investments in artificial intelligence infrastructure in the United States. Delia Paredes, a macroeconomic risk advisor, noted that the boom comes accompanied by a 33.4% rise in intermediate imports, tied to assembly work.
Janneth Quiroz, director of economic analysis at Grupo Financiero Monex, located the continuity of the momentum in bilateral negotiations and in the review of the T-MEC. An analysis by Clemente Ruiz Durán in El Financiero adds a contrast: the IMF projects 1.5% growth for Mexico in 2026 and 0.3% in investment, against 8.6% in exports. The next reports on the trade balance and the Global Indicator of Economic Activity will show whether manufacturing sustains the pace.
This note was written with the assistance of artificial intelligence from verified sources and reviewed by a human editor before publication.