The value of the international trade flow of Mexico’s steel industry decreased 2.3 percent, year-over-year, in March to $4.25 billion, the fourth annual drop in the last five months, according to a SteelOrbis analysis of the data from the national statistics agency Inegi.
The drop of 2.3 percent is according to figures without adjustment for inflation. Discounting the inflationary effect, the variation in real terms is 6.9 percent and is the seventh consecutive annual drop.
In March, imports, which contributed 71.1 percent of the trade flow, totaled $3.02 billion, 1.0 percent nominal more than in March of last year. In real terms, the value of imports decreased 3.8 percent.
In contrast, exports of steel products manufactured in Mexico totaled $1.23 billion, 9.6 nominal percent less than in March last year. That annual decline is the seventh in a row. In real terms, the reduction in the value of exports was 13.9 percent.
In the last 30 years and three months, only in June 1995 (during the economic crisis in Mexico) the steel industry in Mexico had a surplus of $47 million ($93 million at present value). In the remaining 362 months it is in deficit.