According to data from the INEGI (National Institute of Statistics and Geography), the manufacturing industry proved to be the most resilient and dynamic sector of Mexico’s economy. Though still below pre-pandemic levels, the monthly indicator of industrial activity has been steadily growing for the past 10 months now. The manufacturing sector grew, in March 2021 (last available data), +3.0% compared to the previous month while the year over year rebound was +5.5%. Leading the growth were the automotive and electronics industries which are the most export-oriented segments of the manufacturing sector.
The consolidation of the T-MEC, the Agreement between Mexico, the United States and Canada, has provided the new impetus to the country’s exports to the other North American trade partners which account for over 80% of Mexico’s total exports. Not coincidentally, Mexico’s trade surplus reached a new all-time high of 5.5 billion dollars. The stability and certainties brought forward by T-MEC, with particular regards to domestic content, rules of origin as well as labour regulations, have benefited Mexico's manufacturers and exporters.
Source: Deloitte www.eleconomista.com
The consolidation of the T-MEC, the Agreement between Mexico, the United States and Canada, has provided the new impetus to the country’s exports to the other North American trade partners which account for over 80% of Mexico’s total exports. Not coincidentally, Mexico’s trade surplus reached a new all-time high of 5.5 billion dollars. The stability and certainties brought forward by T-MEC, with particular regards to domestic content, rules of origin as well as labour regulations, have benefited Mexico's manufacturers and exporters.
Source: Deloitte www.eleconomista.com