The value of exports from Mexico’s automotive industry hit a record level in September, totaling $16.7 billion and marking the third highest value in Mexican economic history, according to an analysis by SteelOrbis of preliminary data from the national statistics agency Inegi.
In September the value of exports increased 3.7 percent, year-over-year, contrasting with the 5.1 percent annual drop in exports by the entire manufacturing industry and the 5.1 percent annual drop in all exports of the Mexican economy.
The participation of the automotive industry in total exports from the manufacturing industry was 37.8 percent, the fourth largest participation in Mexican history. The share in total exports was 33.6 percent, the sixth largest share in history.
In the accumulated January-September period, exports from the automotive industry totaled $138.9 billion, a historical record for that period. This value represented an annual increase of 14.5 percent compared to the same period last year. This increase considerably exceeded the 4.4 percent of the manufacturing industry and 2.7 percent of the country's total exports.
According to data from the International Organization of Motor Vehicle Manufacturers, Mexico is the seventh largest producer of vehicles in the world and information from the National Auto Parts Industry (INA, business chamber), Mexico is the fourth largest producer of auto parts in the world.
In the last three decades, the automotive industry in Mexico has maintained a trade surplus. In September it was $49.7 billion, 5.1 percent less, year-over-year, and in the accumulated nine months it was $441.5 billion, 2.7 percent more compared to the same period last year.