Mexico recorded a trade surplus of $514 million in June 2025, rebounding from a $2.41 billion deficit a year earlier but falling short of market expectations for a $610 million surplus. Exports rose 10.6% year-on-year to $54 billion, driven by a 12.4% increase in non-oil goods, including a 13.5% surge in manufactured products and a 4.5% gain in auto shipments. To the US, non-oil exports rose 15%, including autos (+6%). In contrast, oil exports slumped 30.4%, while agricultural (-2.2%) and extractive (-5.5%) goods also declined. Imports climbed to $53.5 billion from $51.2 billion, mainly due to higher non-oil purchases (5.3%), led by consumer (5.3%) and intermediate goods (7.1%). However, imports of capital goods dropped 8.4%, and oil imports fell 5.4%, with oil consumer goods plunging 21.2%.