The value of exports from the steel industry in Mexico decreased 12.1 percent, year-on-year, in January to $947 million, it is the fifth consecutive annual drop and after 19 months of exceeding $1 billion, reveals a SteelOrbis analysis of data from the national statistics agency Inegi.
In contrast, steel imports grew 9.0 percent to $2.52 billion. This increase broke the decline of the last two months.
The steel trade flow increased 2.2 percent to $3.46 billion, of which 72.6 percent was from imports and 27.4 percent from exports. The trade balance remained in deficit for Mexico at $1.57 billion, 27.4 percent more than in January 2022.
Historically or at least in the last 30 years, Mexico maintains a trade deficit. The only exception was in June 1995 when it posted a surplus of $47 million.