More than at any point in the last 15 years, Mexican industry is today able to compete with China as a low-cost manufacturing alternative, and with high-income markets as a viable location for outsourcing sophisticated manufacturing. If Mexico is to revitalise its economy after nearly flat growth in 2013, manufacturing, a pillar of the economy...
The North American Free Trade Agreement (NAFTA) jumpstarted Mexico’s textiles and garments industries in 1994, when suddenly raw materials like cotton were allowed to flow freely from, and finished goods into, the US market. By 2000, Mexico had become the largest exporter of clothing to the US.
The petrochemical industry stands to be one of the biggest beneficiaries of Mexico’s energy reform, as the measures are expected to liberalise the market for natural gas, on which Mexican petrochemical plants depend. Today, the industry is hamstrung by an inadequate supply of natural gas, which has sapped its competitiveness and fuelled Mexico...
With a track record dating back to Ford’s first assembly plant in 1925, Mexico’s automotive manufacturing has emerged as a key driver of industrial growth. It accounted for one-sixth of economic growth in the first quarter of 2013, according to PwC México estimates. The world’s eighth-largest producer and fourth-biggest exporter of vehicles,...
Over much of the past decade, Mexico has been one of the most attractive targets for foreign direct investment (FDI) in aerospace. Since 2006 the industry has grown at an average annual rate of 18%, and exports have tripled from $2bn to an estimated $6.1bn in 2013. FDI has focused on the traditional northern industrial giants, including Baja...
As the government attempts to open strategic sectors of the economy to competition and attract more foreign direct investment (FDI), much is also being done to improve science and research as a means to spur innovation. Increased spending, coupled with changes in regulation, is expected to fuel the growth of start-ups and make the business environment more dynamic. The current government has...
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