EnMexico’s maritime ports increased their container handling by 15.2% on a year earlier in July, Panjiva data for Mexican imports and exports shows. That was the 12th straight increase, was also well ahead of the 4.3% decline in rail freight handling, though that may turn around following the opening of a new customs center, as outlined in Panjiva research of April 21. Import growth of 18.2% outpaced exports for a fourth straight month.
Source: Panjiva
Growth was led by the Gulf ports of Altamira and Veracruz, which expanded their handling by 33.2% and 17.5% respectively. That was largely the result of increased handling of materials in the chemicals and steel industries respectively. A central risk to further growth comes from the ongoing NAFTA talks. A move to more stringent rules-of-origin may lead to lower non-NAFTA import traffic.
The exception to the growth story in July was Manzanillo on the Pacific coast, which fell 1.1%. That was the first drop in traffic seen since April 2016, and was driven by a 29.8% slump in export traffic. The rate of contraction has accelerated from 2.6% in May, and was largely due to an absence of traffic from Aluminicaste and Honda in 2017 vs. 2016. The latter has diverted its traffic via Veracruz instead.
Source: Panjiva
