Mexico's trade flow with the world in the automotive industry registered a 9.3 percent increase in July, year-over-year, to $24.31 billion, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
Mexico's automotive-related exports (light vehicles, heavy vehicles and auto parts) totaled $17.1 billion, up 7.2 percent from July last year. The value of imports totaled $7.2 billion, up 14.6 percent from July last year.
Data from the Mexican Chamber of the Iron and Steel Industry (Canacero) shows that the automotive industry in Mexico is the second largest consumer of steel.
In the January-July period, the value of automotive industry exports totaled $112.32 billion and imports totaled $50.35 billion, figures that represent increases of 6.6 and 11.2 percent, respectively, compared to the January-July 2023 period.
The automotive trade historically has surplus, as demonstrated by statistical data from the last 30 years. In July it was $9.9 billion, up 2.5 percent, year-over-year, and the cumulative total was $61.98 billion, up 3.2 percent or $1.89 billion than the January-July period of last year.