The value of exports from the automotive industry in Mexico registered a new historical record in October, totaling $17.7 billion, 20.9 percent more, year-over-year. That month, the automotive industry contributed 34.0 percent of all exports of the entire Mexican economy, according to a SteelOrbis analysis of preliminary data from the national statistics agency Inegi.
The increase of 20.9 percent contrasted with the increases of 5.3 percent in exports by the entire manufacturing industry and the annual increase of 5.6 percent in all exports of the Mexican economy in October.
The share of the automotive industry in total exports of the manufacturing industry was 38.1 percent and the share in total exports was 34.0 percent.
In the accumulated January-October, exports from the automotive industry totaled $156.6 billion, which is also a historical record for that period. This value represented an annual increase of 15.2 percent compared to the same period last year. This increase considerably exceeded the 4.5 percent of the manufacturing industry and 3.0 percent of the country's total exports.