Mexico’s automotive sector reaches record trade surplus from January through May
Mexico’s automotive trade balance reached historic surplus levels of US$ 27.2 billion in the first five months of the year, representing a growth of 11.3% over the same period of 2016, according to official data. The overall trade balance reported a US$ 2.97 billion deficit during those five months.
From January through May, automotive exports reached US$ 49.3 billion, an increase of 9.4% compared to US$ 45.1 billion from the same five-month period of 2016. Meanwhile, imports of automotive products totaled US$ 22.1 billion, up 7.2% from the US$ 20.6 billion in the previous year.
In May alone, exports totaled US$ 10.7 billion, up 13.8% compared to same month of 2016, while imports of automotive goods grew 25.2%, adding US$ 5.3 billion, for a surplus of US$ 5.4 billion, up 4.4%.