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Enhanced global steel trade monitoring
Steel Imports Report: Mexico
Background
In 2017, Mexico was the world’s eleventh-largest steel importer. In 2018, Mexico imported 11 million metric tons of steel, a 2 percent increase from 10.8 million metric tons in 2017. Mexico’s imports represented 3 percent of all steel imported globally in 2017. Mexico’s 2018 steel imports were just over a third of the size of the largest steel importer, the United States. In value terms, steel represented just 2.4 percent of the total amount of goods imported into Mexico in 2018.
Mexico imports steel from over 95 countries and territories. The ten countries highlighted in the map below represent the top import sources for Mexico’s imports of steel, with each sending more than 190 thousand metric tons and together accounting for 90 percent of Mexico’s steel imports in 2018.
Between 2005 and 2018, there were only two periods when Mexico had a steel trade surplus, Q2 2005 and Q1 2010. Other than these two quarters, Mexico maintained a continuous trade deficit. The deficit has grown since 2012, as demand for steel imports has risen while exports have remained stagnant. Between 2009 and 2018, Mexico’s imports increased 117 percent, significantly outpacing exports which, over the same period, increased by 60 percent. Mexico’s 2018 steel trade deficit amounted to nearly 5.3 million metric tons, an 8 percent decrease from a 5.8 million metric ton deficit in 2017.
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