The value of Mexican manufacturing and automotive exports declined in July from the same month last year, due to lower demand from the US.
Mexico exported manufacturing goods worth $32.6bn in July, down by 7.2pc from the same month last year, the National Statistics Agency (Inegi) said in a statement on August 27, without disclosing the value of exports from July 2019.
Exports of manufacturing products declined due to lower demand for steel products shipments, which fell by 16.1pc in July, compared with July 2019, Inegi said without disclosing volume.
Automotive exports from Mexico also dropped by 7.2pc to $11.5bn in July, compared with the same prior-year period, Inegi noted, adding that automotive exports decreased as a result of lower sales to the US.
Mexico’s car output, on the other hand, rose by 0.65pc to 294,946 cars in July, from 293,035 cars in the same month last year. Between January and July this year, auto shipments to the USA fell by 34.4pc to 104,719 cars, from 158,7916 vehicles shipped in the same period last year.
Shipments of machinery and equipment fell by 9.5pc in July, compared to the same month the prior year, Inegi indicated.