Mexico exports hit record $81 billion driven by tech demand

Mexico’s merchandise exports reached a record $81.42 billion in July, marking a 43.7% year-over-year increase. This growth was primarily driven by non-automotive manufacturing, which rose 64.9% and accounted for approximately 73% of total exports. A significant factor in this surge is the demand for computer and electronic equipment, fueled by heavy United States investment in artificial intelligence infrastructure and data centers.

In the state of Jalisco, the high-tech and electronics industry is targeting export growth of over $100 billion by 2030. To achieve this, officials emphasize the need to expand production capacity, strengthen the innovation ecosystem, and increase the specialized workforce to roughly 200,000 employees. Octavio Parga, CEO of Foxconn Guadalajara, noted that success relies on collaboration between government, academia, and industry, specifically in areas such as software development, patent creation, and advanced manufacturing.

While non-oil exports to the U.S. rose nearly 50% annually, other sectors showed mixed results, including a decline in agricultural exports. Additionally, Mexico’s imports reached a record $82.27 billion in July, resulting in a merchandise trade deficit of $848 million.