Houston, Oct 28 (Argus) — Mexico's trade deficit widened to $2.4 billion. September, when trade in non-oil products declined sharply amid an overall record volume of imports. The trade deficit widened from $1.94 billion in August, according to preliminary data from the Inegi trade statistics agency released on Monday. The broader deficit largely reflects an increase in the deficit for oil-related goods to $2.72 billion in September from $2.24 billion in August, as well as an increase in the non-oil trade balance to a deficit of $128 million from a surplus of $293 million in August. Imports reached a record high of $58.9 billion in September, up 2.1% from August, while exports increased 1.4% from the previous month to $56.5 billion. Non-oil exports rose to $54.82 billion in September from $54.08 billion in August, while the value of manufacturing exports rose to $52.37 billion in September from $51.71billion a month earlier. Nevertheless, exports related to the automotive industry decreased in September to $15.39 billion from $16.16 billion in August. The US tariffs have put pressure on exports of manufacturing products, especially automobiles and spare parts, and the pressure may intensify when the 90-day pause in the planned tariff increase to 30% expires at the end of October from 25%, originally scheduled for August 1, unless a new trade agreement between the US and Mexico is concluded. Last week, Mexican Economy Minister Marcel Ebrard announced a "90 percent advance" in a deal that would halt growth, with ongoing dialogue aimed at mitigating the impact of tariffs on metals, agricultural products and – more recently - heavy vehicles. Reaching an agreement would add stability to bilateral trade and inspire confidence in the upcoming negotiations on the USMCA, Mexican bank Banorte said. Banorte added that the trade balance in the coming months will be determined by trade agreements, as well as new Mexican legislation. Last week, Congress approved a reform of Mexico's customs legislation, which will take effect in January 2026 and provides for the digitalization of port entry and customs clearance processes, as well as tougher penalties for tax evasion and other illegal actions. The private sector warned that the new customs process would entail additional costs and increased opening hours, and therefore urged the publication of relevant regulations. Mexico is also considering a bill that would, among other things, adjust tariffs and increase duties on Chinese car imports.
Mexico's trade deficit widened to $2.4 billion in September as trade in non-oil products declined amid record imports.
The trade deficit widened from $1.94 billion in August, according to preliminary data from the Inegi trade statistics agency released on Monday.
The broader deficit largely reflects an increase in the deficit for oil-related goods to $2.72 billion in September from $2.24 billion in August, as well as an increase in the non-oil trade balance to a deficit of $128 million from a surplus of $293 million in August.
Imports reached a record high of $58.9 billion in September, up 2.1% from August, while exports increased 1.4% from the previous month to $56.5 billion.
Non-oil exports rose to $54.82 billion in September from $54.08 billion in August, while the value of manufacturing exports rose to $52.37 billion in September from $51.71 billion a month earlier. Nevertheless, exports related to the automotive industry declined in September to $15.39 billion from $16.16 billion in August.
The US tariffs have put pressure on manufacturing exports, especially automobiles and spare parts, and the pressure may intensify when the planned tariff increase to 30% is postponed from 25%, originally scheduled for August 1, expires at the end of October, unless a new trade agreement is concluded. between the USA and Mexico.
Last week, Mexican Economy Minister Marcel Ebrard announced a "90 percent advance" on a deal that would halt growth, with ongoing dialogue aimed at mitigating the impact of tariffs on metals, agricultural products and – more recently – heavy vehicles.
Reaching an agreement will add stability to bilateral trade and give confidence to the upcoming negotiations on the USMCA, Mexican bank Banorte said.
Banorte added that the trade balance in the coming months will be determined by trade agreements.
Last week, Congress approved a reform of Mexico's customs legislation, which will take effect in January 2026 and provides for the digitalization of port entry and customs clearance processes, as well as tougher penalties for tax evasion and other illegal actions. The private sector warned that the new customs process would entail additional costs and increased opening hours, and therefore urged the publication of relevant regulations.
Mexico is also considering a bill that, among other changes, will adjust tariffs and raise
Финансовая аналитика, прогнозы цен на сталь, железную руду, уголь и другие сырьевые товары.
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