Smelting, Iron and Steel
Code 72 (Harmonized System 2012 by 2 digits)
2024: US$23.7B, Total Trade Exchange
2024: US$3.5B, International Sales
2024: US$20.2B, International Purchases
In 2024, the trade exchange (includes international purchases and sales) of Smelting, Iron and Steel was US$23.7B.
In 2024, the states with the most international sales in Smelting, Iron and Steel were Nuevo León (US$1.95B), Michoacán de Ocampo (US$629M), Tamaulipas (US$185M), San Luis Potosí (US$159M), and Chihuahua (US$82.4M).
The states with the most international purchases in 2024 were Nuevo León (US$7.45B), Ciudad de México (US$2.15B), Guanajuato (US$1.77B), San Luis Potosí (US$1.34B), and Estado de México (US$998M).
In 2024, the main commercial destinations of Smelting, Iron and Steel were United States (US$3.24B), Guatemala (US$73.6M), Canada (US$16.2M), Puerto Rico (US$15.4M), and Honduras (US$14.9M).
The main commercial origins of Smelting, Iron and Steel in 2024 were United States (US$7.24B), Brazil (US$2.74B), Japan (US$2.08B), South Korea (US$1.44B), and Vietnam (US$1.02B).
In the global context, the main exporting countries of Smelting, Iron and Steel in 2022 were China (US$68.4B), Germany (US$37.5B), and Japan (US$36.8B). In the same year, the main importing countries of Smelting, Iron and Steel were United States (US$44.1B), China (US$41.8B), and Germany (US$35.6B).
Trade Balance of Mexico
#permalink to sectionNet Trade Balance
#permalink to sectionUS$23.7B, Total Trade Exchange (2024)
In 2024, the total trade exchange of Smelting, Iron and Steel in Mexico (including international purchases and sales) was US$23.7B.
The visualizations show the net balance of Smelting, Iron and Steel at the level of states and countries. Colors more similar to blue, indicate that the territory presented a higher level of international sales. Colors more similar to red, indicate that the territory presented a higher level of international purchases.
Net International Trade
#permalink to sectionMarch, 2025
- US$310M, International Sales
- US$1.43B, International Purchases
In March 2025, international sales of Smelting, Iron and Steel were US$310M and a total of US$1.43B in international purchases. For this month the net trade balance of Smelting, Iron and Steel it was of -US$1.12B.
Market Concentration
#permalink to section2025-Q1: US$758M, International Sales
The visualization shows the quarterly concentration of international sales of Smelting, Iron and Steel at state level.
In the first quarter of 2025, international sales were US$758M, being the states with the most sales Nuevo León (US$530M), San Luis Potosí (US$36.4M), and Veracruz de Ignacio de la Llave (US$34.3M).
Exchange by Territory
#permalink to sectionInternational Sales
#permalink to sectionNuevo León: US$1.95B, State with the Most International Sales (2024)
United States: US$3.24B, Main commercial destination (2024)
In 2024, the states with the highest international sales in Smelting, Iron and Steel were Nuevo León (US$1.95B), Michoacán de Ocampo (US$629M), Tamaulipas (US$185M), San Luis Potosí (US$159M), and Chihuahua (US$82.4M).
In 2024, the countries with the most international purchases from Mexico were United States (US$3.24B), Guatemala (US$73.6M), Canada (US$16.2M), Puerto Rico (US$15.4M), and Honduras (US$14.9M).
International Purchases
#permalink to sectionNuevo León: US$7.45B, State with the Most International Purchases (2024)
United States: US$7.24B, Main Commercial Origin (2024)
In 2024, the states with the highest international in Smelting, Iron and Steel were Nuevo León (US$7.45B), Ciudad de México (US$2.15B), Guanajuato (US$1.77B), San Luis Potosí (US$1.34B), and Estado de México (US$998M).
The countries with the most international sales to Mexico in 2024 were United States (US$7.24B), Brazil (US$2.74B), Japan (US$2.08B), South Korea (US$1.44B), and Vietnam (US$1.02B).
Specialization
#permalink to sectionSpecialization by State
#permalink to sectionThe RCA-Complexity diagram compares the Revelead Comparative Advantages of states in Smelting, Iron and Steel and the Economic Complexity Index of each state.
RCA values greater than 1 indicate that the state has comparative advantages in Smelting, Iron and Steel. On the other hand, high levels of complexity (ECI) are associated with higher levels of income, potential for economic growth, lower income inequality and lower emissions.
Global Market
#permalink to sectionOrigins and Trade Destinations
#permalink to section- 1.18%, Mexican share in global exports - 2022
- 2.71%, Mexican share in global imports - 2022
The visualizations show the global market for Smelting, Iron and Steel. In both charts, Mexico stands out in order to identify its participation in the export and import market.
In 2022, the main exporting countries of Smelting, Iron and Steel were China (US$68.4B), Germany (US$37.5B), and Japan (US$36.8B). In the same year, the main importing countries for Smelting, Iron and Steel were United States (US$44.1B), China (US$41.8B), and Germany (US$35.6B).