The value of imports from the automotive industry in Mexico registered a decrease of 4.5 percent, year-over-year, in March, to $6.44 billion, breaking the positive trend of the last 25 months (since February 2022), according to a SteelOrbis analysis of data from the national statistics agency Inegi.
Exports from the automotive industry, made up of auto parts, heavy trucks and light vehicles, also decreased in March, 2.4 percent, year-over-year, to $16.04 billion. It is the third casualty in the last 12 months.
In the accumulated period, imports totaled $19.87 billion and exports totaled $45.41 billion, 9.9 percent and 5.2 percent more, respectively, compared to the first quarter of last year.
The automotive industry in Mexico is historically in surplus, as demonstrated by statistical data from the last 30 years. In March, the monthly surplus was $9.59 billion and the accumulated surplus was $25.54 billion, a figure that represents variations of -0.9 and +1.9 percent compared to the same periods last year.