Mexico's trade flow with the world in the automotive industry totaled $22.7 billion in November, 7.4 percent up, year-over-year, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
In November, the value of exports totaled $16.1 billion, up 7.7 percent, year-over-year. Imports totaled $6.7 billion, up 6.7 percent.
In the accumulated of the first 11 months of 2023, exports totaled $172.7 billion, 14.4 percent more compared to the same period in 2022. Imports totaled $74.9 billion, 23.1 percent. Trade flow totaled $247.6 billion, 18 percent more.
Historically, the automotive industry has a surplus for Mexico, in November with $9.4 billion and in the accumulated 11 months with $97.8 billion, 8.4 and 8.6 percent more compared to the same periods of 2022.
According to the Mexican Chamber of the Iron and Steel Industry (Canacero), the automotive industry is the second largest consumer of steel in Mexico, surpassed only by the construction industry.