The value of the commercial flow of the automotive industry in Mexico increased 26.7 percent, year-over-year, in May to $25.13 billion. Exports grew 26.3 percent and imports 27.6 percent, according to a SteelOrbis analysis of data from national statistics agency Inegi.
In May, exports from the automotive industry in Mexico totaled $17.52 billion, 26.3 percent more than in the same month of 2022. The export value for May registered a new historical record, the first time that exports exceeded $17.0 billion in a month.
Imports totaled $7.60 billion in May, up 27.6 percent from May 2022, and also representing a new all-time high.
The balance of the trade balance was favorable for Mexico with a surplus of $9.92 billion. In the last three decades, the automotive industry in Mexico has maintained a surplus.