Mexico’s imports from Russia grew by 20% in the first half of the year

Imports to Mexico from Russia rose 20% to $1.193 billion between January and June, a record increase, according to data from the Bank of Mexico.

According to the Central Bank of Mexico, in the first half of 2022, the volume of imports from Russia amounted to $1.193 billion, an increase of 20.85% compared to last year’s figure (987.6 million).

Russia is the main international supplier of fertilizers to Mexico with a share of about a quarter of all imports of nitrogen and mixed nitrogen, phosphorus and potash fertilizers. Rolled steel, aluminum and synthetic rubber are other important imports from Russia.

The trade balance has undergone a major reversal in 2022, with Mexico’s exports falling from $70 million in February to $1.3 million this June, so imports now account for over 99% of trade with Russia.

The main Mexican exports to Russia in 2021 were cars, auto parts, mobile and landline phones, and copper scrap.

Source: RIA Novosti

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