The value of exports from Mexico’s automotive industry registered an increase, year-over-year, of 7.7 percent in November, a percentage variation that tripled the percentage increase of all Mexican exports in the same period, according to an analysis by SteelOrbis to preliminary data from the national statistics agency Inegi.
In November, according to preliminary information, Mexico's total exports totaled $50.2 billion, 2.0 percent more. Automotive industry exports totaled $16.1 billion, up 7.7 percent, compared to manufacturing industry exports, which grew 2.6 percent to $45.4 billion.
For the month of November alone, the value of 2023 is a historical record. In addition, it is the seventh consecutive month that monthly automotive exports exceed $15.0 billion.
The share of the automotive industry in total exports of the manufacturing industry was 35.4 percent and the share in total exports was 32.0 percent.
In the accumulated January-November, exports from the automotive industry totaled $172.7 billion, which is also a historical record for that period. This amount of exports represented an annual increase of 14.4 percent compared to the same period last year. This increase considerably exceeded the 4.3 percent of the manufacturing industry and 2.9 percent of the country's total exports.