Brazil’s Appetite for Mexican Auto Parts
Mexican auto parts exports to the Brazilian market posted 40.9% year-to-year increase last year, and reached US$537 million, showing a clear improvement in competitiveness.
Mexican auto parts exports to the Brazilian market posted 40.9% year-to-year increase last year, and reached US$537 million, showing a clear improvement in competitiveness.
Contrastingly, automobiles sales made by Mexico to Brazil added to US$2.391 billion, an increase of barely 1.8%.
The difference is due to the import quotas set by Brazil for three years on the bilateral automobiles trade starting on March 19, 2012, while auto parts trade remained tariff-free.
The reciprocal quotas agreed for automobiles were US$1.450 billion in the first year (ended on March 18, 2013), US$1.560 billion for the second term and US$1.640 billion for the third year.
