FX.co ★ Mexico’s Trade Surplus Shrinks Sharply in May, Signaling Cooling External Momentum

Mexico’s trade surplus narrowed significantly in May 2026, pointing to a marked cooling in external trade momentum. According to the latest data updated on 26 June 2026, the country’s trade balance fell to USD 0.638 billion in May from a surplus of USD 3.351 billion in April.

The sharp month-on-month decline in the trade surplus suggests that either export growth has slowed, imports have picked up, or a combination of both. While the headline figure remains in positive territory, the pullback from April’s level highlights a less supportive trade backdrop as the second quarter progresses.

Investors and analysts will be watching upcoming trade releases closely to gauge whether May’s reading reflects a temporary adjustment or the start of a broader moderation in Mexico’s external sector performance. The May 2026 print will likely feed into revised forecasts for growth, the currency, and the country’s overall balance of payments profile.