Mexico | The balance on non-oil-related goods continues reflecting economic weakness

Summary

The balance on non-oil-related goods showed a surplus of USD 2,289 million in 3Q25 after having posted a surplus of USD 8,893 million in the second quarter.

Key points

• Key points:
• The trade deficit amount of oil-related goods kept the overall trade balance from becoming positive.
• Going forward, it would be worrisome that trade surpluses of non-oil related goods continue given the stylized fact that the trade balance tends to show a countercyclical behavior.
• Net foreign direct investment posted an increase of 8.0% YoY in January-September 2025 when comparing advance figures.

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