According to data from INEGI (National Institute of Statistics and Geography), the manufacturing industry has proven to be the most resilient and dynamic sector of the Mexican economy. Although still below pre-pandemic levels, the monthly indicator of industrial activity has been growing steadily for the past 10 months. The manufacturing sector grew +3.0 percent in March 2021 (latest available data) from the previous month while the year-on-year rebound was +5.5 percent. Driving the growth were the automotive and electronics industries, which are the most export-oriented segments of the manufacturing sector.
The consolidation of T-MEC, the agreement between Mexico, the United States and Canada, has given a new boost to the country's exports to its other North American trading partners, which account for more than 80 percent of Mexico's total exports. Not surprisingly, Mexico's trade surplus reached a new all-time high of $5.5 billion. The stability and certainty brought by T-MEC, with particular regard to domestic content, rules of origin as well as labor regulations, have benefited Mexico's producers and exporters.
Source: Deloitte www.eleconomista.com
The consolidation of T-MEC, the agreement between Mexico, the United States and Canada, has given a new boost to the country's exports to its other North American trading partners, which account for more than 80 percent of Mexico's total exports. Not surprisingly, Mexico's trade surplus reached a new all-time high of $5.5 billion. The stability and certainty brought by T-MEC, with particular regard to domestic content, rules of origin as well as labor regulations, have benefited Mexico's producers and exporters.
Source: Deloitte www.eleconomista.com