Tires: Business with Mexico Up 13%

From January to April 2020 companies in the countries of the region imported from Mexico new tires for $5.9 million, exceeding in 13% the reported in the same period of 2019.

Central American imports of tires from Mexico Al July 31st, 2020  

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Variation of Imports by Market
During the first quarter of 2020, companies in El Salvador and Panama increased their purchases of new tires from Mexican companies, reporting 118% and 5% year-on-year variations, respectively.

The other Central American countries reduced their imports from Mexico. In the case of Honduras, purchases fell by 7%, in Guatemala by 14%, in Nicaragua by 31% and in Costa Rica by 58%.

Imports by Country
In the first four months of 2020, the main Central American buyer of tires from Mexico was Guatemala with $1.9 million, followed by Panama with $1.6 million and Costa Rica with $1.2 million.

For the period in question, imports from Honduras and Nicaragua amounted to $500,000 in both cases, and purchases by Salvadoran companies totaled $300,000.

Central America Purchases More Mexican Tires
Between the first four months of 2019 and the same period in 2020, the value imported by the countries of the region increased by 13%, from $5.2 million to $5.9 million.

This rise is consistent with the increase reported from January to April 2019, when the year-on-year variation was 40%.

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CentralAmericaData is the leading B2B market research company in Central America. We specialize in compiling, validating and analyzing data from the economic activities in Central American and South American countries, along with Mexico. We provide our clients and companies with presence in the region relevant information to define business strategies and make adequate decisions. Learn more about our services here