Automotive sector to exceed US$50 billion
The Mexican Association of the Automotive Industry (AMIA) estimated that the automotive sector will record a commercial balance worth over US$50 billion by the end of 2016, which means that this industry is maintaining itself as an important income generator and engine for the internal economy. Eduardo Solis Sanchez, President of AMIA, said that, according to the last official figures by Banxico, there was a surplus of US$45.79 billion in the automotive commercial balance from January to September 2016. Automotive exports peaked at US$83 billion during this period, that is 33.7% of all manufacturing exports in Mexico and 30.4% of national exports. Nonetheless, the figures for October and November are yet to be added, as historical records were reached during these months.