2022
Exports
$6.18BWorld Rnk 26 / 223
Flag Rnk 13 / 96
2022
PRODUCT COMPLEXITY IN Iron & steel
1.68Rnk 28 / 1025
2022
Imports
$15.9BWorld Rnk 9 / 225
Flag Rnk 6 / 96
2022
ECONOMIC COMPLEXITY of Mexico
1.08Rnk 25 / 133

About

Exports In 2022, Mexico exported $6.18B in Iron & steel, making it the 26th largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 13th most exported product in Mexico. The main destination of Iron & steel exports from Mexico are: United States ($4.77B), Colombia ($326M), Guatemala ($242M), Canada ($212M), and Dominican Republic ($127M).

The fastest growing export markets for Iron & steel of Mexico between 2021 and 2022 were United States ($734M), Dominican Republic ($125M), and Guatemala ($114M).

Imports In 2022, Mexico imported $15.9B in Iron & steel, becoming the 9th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 6th most imported product in Mexico. Mexico imports Iron & steel primarily from: United States ($6.84B), South Korea ($2.16B), Japan ($1.72B), China ($1.26B), and Brazil ($874M).

The fastest growing import markets in Iron & steel for Mexico between 2021 and 2022 were United States ($1.12B), China ($450M), and Brazil ($122M).

COMPANIES In 2023, leading companies such as Nissan (21), ZF Friedrichshafen (9), and General Motors (7) were at the forefront of shipping Iron & steel from Mexico to the United States.

Latest Trends

Oct 2024

Subnational Monthly Trade

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Flow
Y-AXIS SCALE

For a full breakdown of trade patterns, visit the trend explorer or the product in country profile.

The following visualization shows the latest trends on Iron & steel. Countries are shown based on data availability.

* Using January 2020 exchange rates when trade data is reported in local currency.

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Historical Data

Trade Balance

Color
EXPORTS (2022)$6.18B
IMPORTS (2022)$15.9B
NET TRADE (2022)-$9.68B

In 2022, Mexico exported $6.18B in Iron & steel. The main destinations of Mexico exports on Iron & steel were United States ($4.77B), Colombia ($326M), Guatemala ($242M), Canada ($212M), and Dominican Republic ($127M).

In 2022, Mexico imported $15.9B in Iron & steel, mainly from United States ($6.84B), South Korea ($2.16B), Japan ($1.72B), China ($1.26B), and Brazil ($874M).

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Export Destinations (2022)

Import Origins (2022)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Mexico WERE (2021 - 2022):
United States$734M (18.2%)
Dominican Republic$125M (6.82k%)
Guatemala$114M (88.7%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Mexico WERE (2021 - 2022):
Canada-$163M (-43.5%)
Brazil-$15.5M (-49.1%)
China-$9.06M (-73.2%)

Change in Exports by Market (2021 - 2022)

Market Concentration

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Flow
Type
In 2022, Mexico's main exporting competitors in Iron & steel were:
China $69.8B
Germany $36.9B
Japan $35.7B
In 2022, Mexico's main importing competitors in Iron & steel were:

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $298M
TOP IMPORT POTENTIALChina+ $489M

Iron & steel’s highest export potential is United States. With an export gap of $298M.   Iron & steel’s highest import potential is China with an import gap of $489M.

See methodology.

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