The value of Mexico’s steel, mining, automotive parts, and manufacturing and equipment exports increased in February compared to last year, abetted by higher demand from the US.
Mexico exported $700.7mn worth of steel products during the second month of this year, increasing by 5.9pc compared to February 2019, while mining product shipments totaled $898.3mn, according to figures from the National Institute of Statistics, Geography, and Informatics (Inegi).
Automotive product exports reached $12bn in February, rising by 3.4pc compared the same month last year, while the value of metal products, machinery and equipment rose by 3.3pc to $25.2bn, Inegi added.
On the other hand, the value of Mexico’s steel imports fell by 18.9pc to $1.3bn, and mining imports dropped by 10.1pc to $819mn.
Despite Mexico increasing exports since the beginning of the year, it expects economic performance to contract by 4pc in 2020, according data from Credit Suisse release on March.