The gross domestic product (GDP) of the steel industry in Mexico grew 3.0 percent year-on-year in the first quarter, the 10th consecutive annual increase, according to SteelOrbis' analysis of data from national statistics agency Inegi.
The Mexican economy grew 3.7 percent in the same period, the eighth consecutive annual increase.
Of the 32 subsectors by which Inegi divides the entire economy, the GDP of the steel industry or the Basic Metal Industries occupies the 17th position with a contribution of 1.05 percent of the total GDP ($1.59 trillion) of Mexico.
Regarding the manufacturing industry (16.7 percent of total GDP), the steel industry is the fourth most important with a contribution of 6.2 percent, only surpassed by the chemical industry with 7.3 percent, manufacturing of computer equipment, communication and measurement with 9.4 percent; manufacture of transport equipment with 20.1 percent and the food industry with 23.9 percent of manufacturing GDP.