Mexico | The surplus in the non-oil merchandise trade balance increases

Summary

The balance on non-oil merchandise showed a surplus of USD 10,411 million in 4Q25 after having posted a surplus of USD 2,289 million in the third quarter.

Key points

• Key points:
• This balance of goods already shows five consecutive quarters being positive.
• Given the stylized fact that the trade balance tends to show a countercyclical behavior, it is not surprising that GDP growth in 2025 has been 0.8%.
• Net foreign direct investment posted an increase of 2.1% YoY in 2025 when comparing advance figures.

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