APL Logistics reports strong results boosted by auto parts trade between Mexico, US

Singapore-based APL Logistics reported an operating profit of US$ 23.7 million in fiscal year 2016, ending March 31, boosted by its US-Mexico cross-border business serving the auto parts industry, according to the annual report (PDF) by its parent company, Japan-based Kintetsu World Express (KWE).

The favorable exchange rate for U.S. importers caused by uncertainty and a potential trade war, is driving more cross-border business between Mexico and the United States, the company said. 

During the first quarter of 2017 Mexican automotive trade surplus reached US$ 16 billion, a 9.8% increase compared to same period of 2016, according to figures by the Statistics National Institute (INEGI) and the Mexican Automotive Industry Association (AMIA).

Mexican automotive exports rose 9.6% over the three-month period, totaling US$ 29 billion. Shipments to the U.S. market increased 14.2%, while exports to Central and South America went up 16.1%.

On the other hand, automotive imports reached US$ 13 billion during the first quarter, a 9.3% increase compared to the same period of 2016.

MexicoNow

Related News

BNSF Railway opens logistics facility in Queretaro

Kansas City Southern hits record revenues in first quarter 2017

Grupo Mexico’s transport division acquires Florida East Coast Railway for US$ 2.1 billion