Mexico's total exports grew 9.7% in July compared to the prior month, their best monthly advance since February 2022, according to seasonally adjusted Inegi data reported by Forbes México on August 28. Shipments totaled $77,263.4 million, with non-petroleum exports rising 10.2%.
From January through July, shipments totaled $471 billion, 28% more than in the same period of 2025, the largest increase for a comparable stretch since 2010 and a pace that, according to El Universal, puts 2026 on track to be the best year on record for Inegi data. Banamex raised its annual export forecast from $714 billion to $811 billion and projects a surplus of $14,221 million. Analysts at Banorte and Integralia Consultores link the surge to artificial intelligence investment in the United States, which is sustaining demand for computing, electrical, and thermal equipment assembled in Mexico.
Within non-petroleum shipments, manufactures advanced 9.8%, their highest monthly rate since February 2022, with non-automotive manufactures rising 14.3%, the largest gain since June 2020, while automotive manufactures fell 3.3%. Grupo Financiero Base explained that the growth in non-automotive manufactures is driven by shipments of computing equipment for data center construction in the United States, although much of the value added is created in East Asian economies that supply the inputs. In the same month, imports grew 15.2%, their largest increase since March 2021, and the trade balance recorded a surplus of $465 million, below June's figure.
The next foreign trade data will arrive with the August report, ahead of the fourth USMCA review round expected in mid-September in Washington. As Washington and Ottawa negotiate their own tariff fronts, Mexico's export pace remains the most stable trajectory in the North American bloc.
This article was written with artificial intelligence assistance from verified sources and reviewed by a human editor before publication.