Mexico's trade flow with the world in the automotive industry registered a 9.2 percent drop in September, year-over-year, to $22.1 billion. It is the lowest figure in the last eight months, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
Exports related to the automotive industry in Mexico (light vehicles, heavy vehicles and auto parts) totaled $15.4 billion, 7.4 percent less than in September of last year. The value of imports totaled $6.7 billion, 13.1 percent less in the period.
Data from the Mexican Chamber of the Iron and Steel Industry (Canacero) show that the automotive industry in Mexico is the second largest consumer of steel.
In the January-September period, the value of automotive industry exports totaled $144.1 billion and imports totaled $64.8 billion, figures that represent increases of 3.7 and 7.2 percent, respectively, compared to January-September 2023.
The trade flow in the given period was $208.9 billion, 4.8 percent or $9.5 billion more than the accumulated period from January to September of last year.
The automotive industry is historically surplus-producing, as demonstrated by statistical data for the last 30 years. In September it was $8.8 billion, 2.6 percent less, year-over-year, and the accumulated total was $79.3 billion, 1.0 percent or $779 million more than the period January-September of last year.