Automotive commercial balance breaking record
The automotive industry hit a historic record during the first trimester of 2017, when a surplus commercial balance of US$16.01 billion was reported in Mexico, according to the Mexican Association of the Automotive Industry (AMIA). Eduardo Solis, president of AMIA, said that this was thanks to increased vehicle exports to the U.S., which had a 14.2% growth rate. There was also influence from the 16.1% increase in shipments to South American markets. Exports were valued at US$28.99 billion during the first trimester of 2017.