Although Mexico is internationally known as a light-vehicle manufacturer, the country is also a leading player in auto parts production, a position that will only strengthen as OEMs ramp up their operations. Mexico is ranked fifth in this segment, behind China, the US, Japan and Germany, with production of US$87.7 billion in 2017. Thanks to its strength in this segment, Mexico has grown its trade balance in the automotive industry to US$70.8 billion in 2017,  which is almost three times greater than the trade balance value on remittances.