Mexico’s export revenue surged 27.7% annually in March, driven by a 43.7% increase in the value of non-automotive manufacturing sector exports, according to official data.

The national statistics agency INEGI reported on Monday that Mexico’s exports were worth US $70.727 billion in March, easily the largest monthly total in 2026. Mexico’s export earnings have now increased in annual terms in each of the last 10 months. Six double-digit increases in revenue were reported in the period.

INEGI also reported that Mexico’s export revenue totaled a record-high $175.586 billion in the first three months of the year, a 17.9% increase compared to the same period of 2025. It was the largest annual increase in export revenue for any first quarter since 2011.

Mexico’s export revenue hit a record high in 2025 — despite the United States’ imposition of tariffs on various Mexican goods — and has continued to grow in early 2026.

More than 90% of export revenue came from the shipment abroad of manufactured goods

INEGI data shows that the export of manufactured goods generated revenue of $64.72 billion in March, a 29.5% annual increase. That amount is equivalent to 91.5% of Mexico’s total export revenue last month.

• The export of non-automotive manufactured goods generated revenue of $47.36 billion in March, a 43.7% year-over-year increase. Among these products are computer equipment and other electronics, whose export revenue increased 17.8% annually in March.
• The export of automotive products, including vehicles, generated revenue of $17.36 billion in March, a 2% increase. The value of auto exports to the United States — which last year imposed tariffs on Mexican-made vehicles — fell 3.4% annually in March, but revenue from automotive products shipped to the rest of the world increased 39.2%.
• Mexico’s agricultural exports were worth $2.21 billion in March, a 0.7% annual increase.
• Mining sector exports generated revenue of $2.07 billion in March, an annual increase of 95.3%.
• Mexico’s oil exports were worth $1.7 billion in March, a year-over-year decrease of 20.4%.

Manufacturing sector export revenue up nearly 20% in Q1 

INEGI’s data shows that the shipment abroad of manufactured goods generated revenue of $160 billion between January and March, an annual increase of 19.4%. That amount is equivalent to 91% of Mexico’s total export revenue in the first quarter of 2026.

• The export of non-automotive manufactured goods generated revenue of $117.65 billion between January and March, a 30.2% year-over-year increase.
• The export of automotive goods generated revenue of $42.34 billion in the first quarter of 2026, an annual decline of 2.9%.
• Mexico’s agricultural exports were worth $5.85 billion in the first three months of the year, an annual decrease of 7.7%.
• The value of mining sector exports surged 94.8% annually in the first quarter to reach $5.41 billion.
• Mexico’s oil sector exports were worth $4.3 billion between January and March, an annual decline of 25.5%.

Mexico’s outlay on imports increased 24% in March 

As Mexico’s export revenue has increased, so too has its outlay on imported goods.

In March, foreign goods worth $64.79 billion were brought into the country, an increase of 24.3% compared to the same month last year.

Thus, Mexico recorded a trade surplus of $5.93 billion last month.

• Mexico’s outlay on imported intermediate goods was $51.4 billion in March, a 27.2% annual increase. Intermediate goods include raw materials and semi-finished products.
• Consumer goods worth $8.42 billion were brought into Mexico in March, an annual increase of 19.3%.
• Mexico’s outlay on capital goods increased 7% annually in March to reach $4.97 billion.

Spending on imports increased 18% in Q1 

In the first three months of the year, Mexico imported goods worth $176.59 billion, a year-over-year increase of 18.4%.

Mexico thus recorded a trade deficit of $1.01 billion in the first quarter of 2026.

• Spending on imported intermediate goods increased 22.9% annual between January and March to reach $140.76 billion.
• Mexico’s outlay on foreign consumer goods increased 6.8% annually in the first quarter to reach $22.46 billion.
• Mexico imported capital goods worth $13.36 billion between January and March, a 1.7% annual decline.

With reports from El Economista