The value of the international trade flow of Mexico’s mining and metallurgical industry decreased 3.2 percent in May, year-over-year, to $2.78 billion, the fourth consecutive annual drop, according to a SteelOrbis analysis of data from the national agency of statistics Inegi.
The May trade flow is 11.6 percent below the all-time record of $3.15 billion in March 2022. Of the total, 53.3 percent of the commercial flow was due to imports, totaling $1.48 billion in May, 5.7 percent less than the same month last year, and the fourth consecutive annual decline.
Mining and metallurgical exports decreased marginally 0.2 percent to $1.30 billion, the eleventh consecutive annual decline.
The trade balance for the sector was in deficit by $186 million, 31.7 percent lower than the deficit of May 2022.