Good afternoon,

The US Department of Commerce and Census Bureau released the monthly Import/Export data today, and imports grew by an astounding 18.2% for February 2022 compared to February 2021. This growth was driven almost entirely by Mexican imports, which grew by 38.8%, up more than 660,000 barrels compared to a year ago. Note that the net gain for total imports was 450,000 barrels compared to February 2021. 

A few additional notes to keep in mind: 
•    Year ago comparisons are very favorable, with Mexican imports down 9.2% (down nearly 175K barrels) in February 2021 compared to February 2020. In fact, February 2021 was one of the lowest volume months in the past two years, with May 2020 as the only other month with lower volume. 
•    Mexican import barrelage is in line with volume trends for recent months. For example, February 2022 shipments for MX imports are down -0.8% compared to January 2022 and up 0.5% compared to December 2021. (see chart below)
•    We typically see a drop in volume in February compared to the prior month of January. In 2020, Mexican imported volume dropped 9% in February compared to the month prior of January 2020. The slight dip in volume for this latest month compared to January is a much better trend than we see in a typical drop from January to February. 

We hope this is a good sign of what’s to come for this spring and Cinco de Mayo this year! 
 

The next Import-Export Report will be released on:

• Wednesday, May 4, 2022 (Reporting for March 2022)

Please reach out with any questions.

Cheers,

Danelle Kosmal
Vice President, Research

BEER INSTITUTE
440 First Street, NW
Suite 350
WASHINGTON, DC 20001
PHONE: 202.737.2337 
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