Mexico | The balance on non-oil-related goods continues to be positive

Summary

The trade surplus in 1Q25 is mainly due to the positive balance on non-oil-related goods. Net foreign direct investment posted an increase of 3.4% YoY in 1Q25 when comparing advance figures.

Key points

• Key points:
• The balance on non-oil-related goods in the first quarter of 2025 was USD 5,040 million after having posted a surplus of USD 5,149 million in the fourth quarter of last year.
• The situation above was reflected on trade surpluses in both quarters, making the current economic weakness evident by the stylized fact that the trade balance tends to show countercyclical behavior.

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