Mexican beer exports increase by 33.8% in first two months of 2024

MEXICO - In the midst of a drought in Mexico, beer sales outpaced agricultural and agribusiness exports in the first two months of 2024.

"Beer ranks as the first product sold abroad with US$1 billion, after it had an increase of 33.8 percent in the first two months of 2024," reveals the Bank of Mexico (Banxico).

Between January and February 2023, Mexican beer producers exported more than US$757 million according to the entity presided by Victoria Rodríguez Ceja.

The beer industry sold more than 684,491 liters of the beverage in the first two months of 2024 to the United States, Canada, Guatemala, Colombia, Honduras, the Dominican Republic, El Salvador, Panama, Belgium, the United Kingdom and the Netherlands.

At least 90 percent of Mexican beer exports were made to the United States and Canada during the first two months of 2024, adds the central bank. More than 617,545 liters of Mexican beer were shipped there.

After a quiet start to the brewing industry's year, in March 2024, order levels from beer marketers accelerated in the United States, notes the National Beer Wholesalers Association (NBWA).

"In March 2024, the beer buyer index increased to 53, the first reading above the expansionary benchmark (50) in 2024 and the highest March index reading since 2021," explains the business body with strong influence in the United States.