Mexico's automotive export value grows 13.8 percent in December

Friday, 27 January 2023 22:47:21 (GMT+3)   |   San Diego

Exports in the Mexican automotive industry increased 13.8 percent by value, year-over-year, totaling $14.3 billion, reported Friday by the national statistics office Inegi.

In December, the automotive industry improved the most among Mexican foreign trade. Total exports grew 3.4 percent to $49.3 billion, and the manufacturing industry exported $43.5 billion, 3.1 percent more year-on-year.

The participation of the automotive sector in the total exported was 29.1 percent of the total, 2.7 percentage points more than in December 2021. Regarding exports of the manufacturing industry, it increased 3.1 percentage points to 32.9 percent.

In the accumulated 12 months, the value of automotive exports totaled $165.2 billion, the manufacturing industry exported $508.4 billion, and total exports from Mexico totaled $578.2 billion, figures that represented annualized increases of 18.2 percent, 16.6 percent. percent and 16.9 percent, respectively.

The automotive industry is the main engine of the Mexican economy and is the largest generator of foreign currency in the country, surpassing the oil industry, tourism and remittances.

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