Mexico’s import of aluminium household articles during 2018-21 unfolds sharp rise followed by the continuous downfall

Aluminium is considered to be a perfect blend of form and function that is vital for consumer products. It has been observed that aluminium is gradually replacing plastic and steel components, as it is stronger and tougher than plastic and lighter than steel. The metal also allows heat to dissipate quickly, keeping products from overheating.

As per the preliminary data from national statistics agency INEGI, the economy of Mexico declines by 0.2% in Q3 from the previous three-month period, the first quarterly decline since recovery from the pandemic commenced.

The nation ranked 11th largest by purchasing power parity, Mexico imported 16,639 tonnes of aluminium household articles during 2018-20, which incurred expenditure of around $130.39 million towards the import.

In 2018, Mexico imported 2837 tonnes of aluminium household articles by accounting expenditure of $21.83 million, whereas, in 2019, the demand for the household articles surged by 161.01%, as the import volume climbed to 7405 tonnes, powering expenditure to rise at $58.38 million.

The import of aluminium household articles in 2020 was measured with a downfall of 13.61%, as the import volume dropped to 6397 tonnes and expenditure also dip to $49.93 million.

Mexico’s import for 2021 is analysed with a further de-growth of 11.11%, as the import volume is predicted to decline at 5686 tonnes and expenditure to stand at $44.45 million.

The major trading destinations for Mexico’s import of aluminium household articles are Brazil, China, France, Germany, Italy, Malaysia, South Korea, Thailand, USA, etc.