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Mexico's automotive trade flow with a new historical record of $25.55 billion-The 25th China(Guangzhou) Int'l Non-Ferrous Metals (Copper) Exhibition
7/30/2024 non-ferrous metals expo |
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Mexico''s trade flow with the world in the automotive industry reaistered an increase of 17 percent in Mav. vear-over-vear, to$25.55 bilion, a figure that was a new historical record, driven by exports that are also a historical record, according to aSteelOrbis analysis of data from the national statistics agency lnegi.Exports contributed 69.4 percent of the total automotive flow in May. The light vehicle, heavy vehicle and auto parts industriesexported $17.72 billion, 1.1 percent more than the fifth month of last year
The value of imports related to the automotive industry totaled $7 .82 bilion, 2.9 percent more, year-over-yearData from the Mexican Chamber of the lron and Steel lndustry (Canacero) show that the automotive industry in Mexico is thesecond largest consumer of steel.
In the January-May period, the three variables, exports, imports and trade flow, registered new historical records. Exports totaled$70.60 bilion, imports $35.87 bilion and the trade fow $115.47 bilion, figures that represented annual increases of 8.2 percent.12 6 percent and 9.5 percent, respectively.
The automotive industry has historically had a surplus, as demonstrated by statistical data from the last 30 years. in May it was$9.90 bilion and the accumulated amount was $43.74 bilion, figures that represented annual increases of 23.1 and 6.4 percentrespectively,The accumulation is also a historical record
The automotive industry is the largest generator of foreign currency for the entire Mexican economy.
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