The value of exports from the automotive industry in Mexico registered an increase of 13.2 percent, year-over-year in December, totaling $16.2 billion, the eighth consecutive annual increase, according to an analysis by SteelOrbis of preliminary data from the national statistics agency Inegi.
The percentage increase in the automotive industry contrasted sharply with the 0.2 percent drop in total exports of the Mexican economy, which totaled $49.2 billion, and with the 1.1 percent increase in exports from the entire manufacturing industry in Mexico, which totaled $43.9 billion.
The percentage share of automotive industry exports in manufacturing exports was 36.9 percent. Considering a comparison of only the months of December, 2023 also recorded a historical maximum.
For the entire year, automotive industry exports totaled $188.9 billion, also a historical record for that period. This value meant an annual increase of 14.3 percent compared to the total for 2022. This increase considerably exceeded the 4.0 percent of the manufacturing industry and 2.6 percent of the country's total exports.