Mexicos National Institute of Statistics and Geography (INEGI) reported Thursday that exports fell 2.9% year-over-year in February 2025.
Total exports reached $49.28 billion while imports dropped more sharply by 8.3% to $47.07 billion.The export decline stems primarily from significant drops in automotive and petroleum sectors.
Automotive exports plummeted 15.2%, with shipments to the United States falling 10.7% and exports to other markets crashing 40.2%.Mexico currently ranks as the worlds fourth-largest vehicle exporter behind Germany, Japan, and the United States.
The US market receives about 84% of Mexican vehicle exports.Rogelio Garza, president of the Mexican Automotive Industry Association, blames rising US inflation for the slowdown.
US inflation reached 3% in January, up from 2.4% in September.Petroleum exports totaled $1.99 billion in February.
The average price for Mexican crude stood at $68.99 per barrel, up $1.42 from January but down $2.69 from February 2024.Mexican Exports Slump 2.9% as Auto Industry Faces United States Tariff Pressure.
(Photo Internet reproduction)Daily crude export volume reached 752,000 barrels, exceeding Januarys 573,000 barrels but falling well below the 957,000 barrels recorded in February 2024.Agricultural exports declined 6.1% to $2.18 billion.
Cattle exports suffered the most with a 73.2% drop.
Extractive exports bucked the trend, growing 17.4% to $0.87 billion.The trade figures arrive amid escalating North American trade tensions.
President Trumps 25% tariffs on Mexican goods took effect March 4, with USMCA-compliant products receiving an extension until April 2.Mexico responded by raising import tariffs on textile products to 35%.
These defensive measures will remain in effect until April 2026.Despite the February downturn, Mexico maintains a trade surplus of $2.21 billion, reflecting the steeper decline in imports than exports.