“Mexico Lindo” is a country with high industrial opportunities, it has several important sectors, and the labor force has an accessible price and molded logistics for shipments and export of products and services. Review the Notable Industries in Mexico.
In this article, we share the most notable sectors in the Mexican industry, with real data and important information if you want to invest in Mexico and learn more about the sectors to exploit in the Mexican market.
Mexican food products including Mexico avocado and Mexico lemon are demanded worldwide.
Where is Mexico located?
Mexico with states:
In a privileged location, the border with the USA and both the Pacific Ocean and the Atlantic Ocean make him a strategic location for multinationals.
He has Cuba as a maritime border through the Gulf of Mexico and Guatemala and Belize to the south.
Mexico Zone Time
Mexico uses 3 timezones:
- UTC-7 | PDT/MST – Example: Tijuana
- UTC-6 | MDT – Example: Mazatlan
- UTC-5 | CDT/EST – Example: CDMX
Biggest Industries in Mexico
The National Institute of Statistics and Geography (INEGI in Spanish) provides information about the Mexican industry called the North America Industrial Classification System (NAICS), which compiles and analyzes the information obtained from the economic field that reflects the structure of Mexico.
Industries you can find at the NAICS:
- Construction Companies
- Manufacturing Industries
- Wholesale Trade
- Retail Trade
- Service companies
The Construction Industry in Mexico
Construction companies are a backbone of the Mexican economy and industry; this sector includes activities dedicated to building, construction of civil engineering works, and specialized construction work; it is a pillar of the Mexican economy and one of the most important in the Latin American economy.
This group grew its production by 3.7% from December 2021 to mid-April.
Mexico houses are well-known for their great designs, contact us if you want to buy property in Mexico.
Manufacturing | Industries in Mexico
The manufacturing industry in Mexico has many treaties that can support both the manufacturing and logistics of the same, an example is the Mexican automotive industry, where the NAFTA treaty, whose main objective is to reduce trade costs and promote free competition mechanisms between Mexico, Canada, and the United States.
It has been recovering, we see it reflected in the growth of the Mexican industry in the total employed personnel in Mexico, when in January 2022 we saw an increase in the number of employees by 0.4% concerning December of last year, in addition to the salaries paid to workers increased 0.9%. growth in this sector is again promising for investment.
Other political decisions can affect this promise of investment that was growing in the past decade.
Non-financial services in Mexico
Non-financial services firms refer to firms that do not sell a finished product but provide a service somewhere and receive financial compensation.
Unlike other sectors, this sector has registered a decrease in the rate of 2% in these four months according to INEGI, however, the number of employed personnel grew and the expenses for consumption of services increased by more than 1.5% each.
Computer services are an example of non-financial services, we work with Helium a Marketing Agency to cover the needs of our clients, like Corporate Websites, Branding, or aggressive Marketing Campaigns.
Mining in Mexico
The mining sector refers to metals that have already been processed, plus unprocessed metals obtained from the first smelting. The main minerals that Mexico mines are sulfur, barite, copper, iron ore, fluorspar, gold, silver, lead, and zinc.
Lithium mining in Mexico is a matter to talk about in the upcoming months with new legislation arising.
If you would like to know more about the blacksmiths, CNC companies, fittings, and metals we handle, contact ISEB executives.
You need a special permit in Mexico to export this. Talk it over with the company you’re quoting with, or contact us for guidance.
Wholesale and retail trade in Mexico
Trade refers to the supply of goods and services, as well as consumer spending by retail and wholesale trade enterprises.
In the first four months of the year, real income from the supply of goods and services grew 0.9%, in addition to a 0.1% increase in employed personnel. Retail trade companies recorded a 1.8% increase in remunerations and a 0.6% increase in income.
Wholesale trade refers to intermediate distribution work, connecting manufacturing with retail traders of finished products. While retail trade is engaged in trading goods to their final consumers.
Industries in Mexico affected by the pandemic
The global pandemic has brought to the Mexican industry one of the most extensive crises that the country has had since the 1930s, its recovery has been different in each of the sectors, as the different industrial sectors were prioritized in their recovery.
Review our Portfolio and see our past clients and sourcing projects in Mexico.
The different Mexican industrial chambers have been working to ensure that the country continues to produce in the most regular way possible, approaching the point of equilibrium of supply and demand. To restore employment to as many people as possible and not to stop exports due to shortages.
Main Industries in Mexico
In the numbers above we can see that the sectors with the greatest recovery after the pandemic are manufacturing, reflected in the population employed in that sector and the total income from the production of goods.
City of Mexico, Jalisco, Nuevo Leon, and other major Mexican states have to step up and attract foreign investment.
Learn how to be successful when you’re Product Sourcing in Mexico.
Mexico for vacation is always a good idea. Tourism is one of the main service consumption activities that have been affected by the pandemic because, although in Mexico the measures have been more flexible for being in quarantine, tourism activity has decreased.
The construction industry is one of the industries that has increased its performance despite the pandemic, we see its numbers compared to the other industries and we see how it is taking off from the others. Let us know of more Notable Industries in Mexico and we can provide updated information.