The GDP of the Mexican steel industry increased 1.2 percent annually in the third quarter of this year. It is the sixth straight increase, although growth was below 4.3 percent of the economy's overall GDP, according to an analysis of data from national statistics agency Inegi.
Inegi noted that the steel industry is limited to the basic metal industries, thus its GDP represented 0.97 percent of Mexico's total GDP. In almost three decades (since 1993), that percentage share is one of the lowest. The greatest contribution was in the first quarter of 1998 with 1.64 percent.
The GDP of Mexico overall reached USD$1.4 trillion in Q3, and the GDP of the steel industry reached USD$13.7 billion in the third quarter of 2022.