FX.co ★ Mexico’s Trade Balance Swings Deep Into Deficit in January 2026

Mexico’s trade position deteriorated sharply at the start of 2026, with the country’s trade balance shifting from a surplus to a substantial deficit. After posting a surplus of 2.430 billion dollars in December 2025, the trade balance fell to a deficit of 6.481 billion dollars in January 2026, according to data updated on 27 February 2026.

The January 2026 figure marks a significant reversal in Mexico’s external accounts within just one month, underscoring a notable change in the balance between exports and imports. While the underlying drivers of the swing are not detailed in the latest release, the move from surplus to deficit of nearly 9 billion dollars is set to draw close attention from analysts tracking Mexico’s trade dynamics and their potential implications for growth and currency stability.