The value of works in the construction industry, one of Mexico’s largest consumers of steel, registered for the second consecutive month a new historical record in June with MXN 53.7 billion, which at today's exchange rate is $3.1 billion, according to a SteelOrbis analysis of data from national statistics agency Inegi.
The value of construction works in June represented an increase of 31.6 percent, compared to June last year. It is the twenty-eighth consecutive annual increase.
The two new historical records contrast with the consumption of rebar. In May it decreased 6.4 percent and in June it increased 7.5 percent, according to data from the Mexican Chamber of the Iron and Steel Industry (Canacero).
Of the 32 states of the country, the value of the works increased in 20, of which Quintana Roo stood out with an increase of 895 percent and Campeche with an increase of 344 percent. Those 20 states contribute 59.0 percent of the total value.
In contrast, it decreased in 12 states, with Mexico City and Tlaxcala standing out with drops of more than 30 percent. Meanwhile, in Jalisco, Coahuila and Chiapas the fall was greater than 20 percent and less than 30 percent. These 12 entities contribute 41.0 percent of the total value for June.
In the first half of the year, the five largest construction economies in the country are Nuevo León (7.9 percent of the total), Jalisco (7.8 percent), Quintana Roo (7.0 percent), Tabasco (6.1 percent) and Campeche (6.1 percent). Together they contribute 35.0 percent of the total.
The construction industry contributes 6.0 percent of Mexico's total GDP ($1.59 trillion).