International trade of the automotive industry installed in Mexico registered a new record in exports for the months of August of the last 30 years with $16.92 billion, 11.0 percent up, year-over-year, according to SteelOrbis analysis of the agency's preliminary data national statistics Inegi.
The 11.0 percent annual percentage increase in automotive industry exports far exceeds the 4.3 percent growth in all Mexican exports. The automotive industry even contributed 35.9 percent of the total Mexican exports in August, which totaled $45.15 billion.
The accumulated exports of the entire Mexican economy in the January-August period totaled $348.9 billion dollars, of that amount, the automotive industry contributed 35.0 percent with $122.3 billion, figures that represented annualized increases of 6.0 and 16.1 percent, compared to from the same period last year.
According to the Mexican Chamber of the Iron and Steel Industry (Canacero), the dynamic automotive industry in Mexico is the second largest consumer of steel with 18.3 percent. Consumption is in the manufacture of light automobiles, heavy trucks, semi-trailers, chassis, bodies, engines, parts and accessories for motor vehicles, among others.
Because it is preliminary information, Inegi does not detail the value of imports from the automotive industry.