After 22 continuous months of growth, in September the international trade or commercial flow of the Mexican steel industry decreased 15 percent, year-over-year. Imports fell 10.1 percent and exports were down 29.3 percent, according to a SteelOrbis analysis of the latest data from national statistics agency, Inegi.
Imports totaled $1.61 billion, 10.1 percent down compared to September 2021. Exports totaled $442.3 million, 29.3 percent less.
In September, the steel trade flow totaled $2.06 billion, 15.0 percent less year-on-year. The monthly figure is 15.6 percent less than the average from August 2022 to August 2021, which was $2.44 billion.
Historically, the Mexican industry has been in a trade deficit because imports exceed exports, at least since January 1996. In September, the deficit was $1.17 billion, unchanged from last year.