Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

The value of Mexican manufacturing and automotive exports fell in August on an annual basis due to lower demand from the US, according to the National Statistics Agency (Inegi).


Mexico exported manufacturing products worth $33.5bn in August, down by 8.3pc from the same month last year, Inegi said in a statement without disclosing the value from August 2019.


Among manufacturing products, steel products’ shipments suffered due to lower demand, declining by 21.1pc in August from the same prior-year period, Inegi noted without disclosing volume.


The value of automotive exports, on the other hand, dropped by 11.9pc to $12.1bn in August from the same month last year, as a result of lower sales to the US.


Mexico’s car output, sales, and exports dropped in August on an annual basis, on lower demand due to the effects of the COVID-19 pandemic. Car production fell by 13.1pc to 293,463 cars in August, from 337,898 cars in August 2019. Between January and August this year, car shipments to the USA fell by 31.1pc to 1.25mn units, from 1.81mn vehicles shipped in the same period last year,  according to Inegi.


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