The steel industry in Mexico continues to be one of the most important economic branches for Foreign Direct Investment (FDI), attracting $2.15 billion in 2023, a figure that represents a marginal increase of 0.4 percent compared to 2022, according to SteelOrbis analysis of data from the Ministry of Economy.
Of the 269 economic branches that the Ministry of Economy divides the economy, the steel industry (basic iron and steel industry) was the fourth most important, only surpassed by the $2.44 billion of the beverage industry, the $5.14 billion of the manufacturing of cars and trucks and the $6.03 billion in the banking business.
FDI in the steel industry in 2023 is the highest in the last 16 years, surpassed only by the $3.84 billion in 2007. That year, ArcelorMittal bought the assets of the Mexican steel company Sicartsa for more than $1.4 billion from Julio Villarreal, the owner of the steel processor Villacero, and one of those interested in buying the debt-laden steelmaker Altos Hornos de México (AHMSA).
From the information from the Ministry of Economy for 2023, it stood out that FDI in the mining of metallic minerals was the fifth most important with $2.09 billion, services related to mining occupied position # 13 with $602 million; manufacturing of iron and steel products ranked #53 with $73 million.
In the period 2006-2023, the steel industry was ranked seventh with an FDI of $15.8 billion, surpassed by investment in the transportation of natural gas through pipelines with $16.2 billion, mining of metal minerals with $30.4 billion, manufacturing auto parts with $37.5 billion, the automotive industry: manufacturing of cars and trucks with $39.4 billion, the beverage industry $44.6 billion and the banking industry with $56.4 billion.
Other industries related to the value chain of the Mexican steel market are in position #64 the manufacture of other metal products with $1.1 billion, in place #38 the manufacture of iron and steel products with $2.8 billion and in position #28 mining-related services with $4.9 billion.