Mexico’s automotive sector reaches record trade surplus from January through May

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%.

MexicoNow

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