The automotive industry in Mexico, the largest generator of foreign currency in the country, registered a new historical record in the value of exports in May with $17.52 billion, 26.3 percent more than in the same month of 2022, according to an analysis from SteelOrbis to preliminary data from the national statistics agency Inegi.
The contribution of the automotive industry to exports of the manufacturing industry and to total exports of Mexico also registered a maximum historical value with 36.9 and 33.1 percent, respectively.
In the accumulated January-May, exports totaled $73.57 billion, 15.2 percent more than in the same period last year. That value is also an all-time record.
Inegi reported the information for May as an informative advance, data that lacks the information on imports. Although the historical trade balance, at least for the last 30 years, is positive for Mexico with a trade surplus.