The value of exports from the mining-metallurgy industry in March decreased 22.5 percent, year-over-year, to $1.02 billion. This decline for the third month of each is the most pronounced in 27 years and in the last 31 years it is the twenty-first most drastic, according to a SteelOrbis analysis of data from the national statistics agency Inegi.
Imports decreased 14.6 percent, year-over-year, in March to $1.38 billion. It is the fourth consecutive annual decline.
The trade flow of mining and metallurgical products totaled $2.41 billion in March, down 18.1 percent compared to the same month last year.
The trade balance was negative for Mexico at $360 million, up 21.0 percent compared to March 2023.
In the first quarter, exports totaled $3.15 billion, imports at $3.85 billion and the trade flow at $7.0 billion, figures that represented decreases of 12.6, 9.3 and 10.8 percent, respectively, compared to the January-March period of last year.
The trade balance was negative for Mexico by $699 million, up 9.3 percent or $59 million compared to the trade deficit of the first three months of last year.