The NAFTA trade agreement was signed, more than two decades ago, with the intention of integrating the economies of the United States, Canada and Mexico.
Initial negotiations that will lead to a partial amendment of the free trade treaty have been initiated, primarily desired by the new U.S. administration. It is difficult to predict what the outcome of these negotiations will be, however, it is certain that NAFTA will overcome this final hurdle as well.
The combined GDP of the three NAFTA countries is about USD 21 trillion (about € 18 trillion), and the total value of the area's trade has increased from about USD 290 billion (about € 260 billion) in 1993 to USD 1.2 trillion (about € 1.076) in 2016, i.e. it has quadrupled. Trade between Canada and Mexico has grown tenfold since the treaty came into force, reaching USD 30 billion (about € 27 billion). The spillover, in terms of employment, from the agreement is estimated to be about 14 million jobs. In the period from 1993 to the present, direct investment in/to NAFTA countries has tripled. U.S. companies have invested USD 425 billion in Mexico and Canada, while Canadian and Mexican companies have, in turn, invested a combined USD 240 billion in the United States. Through NAFTA, the three North American economies have achieved a rate of integration that is difficult to reverse.
As for and total Mexican imports from the 15 capital machinery sectors of the Machines Italia project, 2016 ended on a recovery (about +24 percent). Machinery and technologies for plastics and rubber processing showed a marked increase, as did machinery for glass and ceramics. The data reflect important manufacturing investments by Mexican manufacturing companies in the wake of a series of industry support programs and incentives launched by various federal governments (Querétaro, Guanajuato, Aguascalientes), in recent years.
Italian machinery exports (15 Machines Italia sectors) to Mexico increased 24 percent in 2016, compared to the previous year, reaching € 919 million. The growth of Made in Italy in Mexico was particularly driven by plastics machinery (+33.69%) with a value of more than € 163 million, hydraulic components (+7.88%)for € 153 million, machine tools (+16.81%) for € 124 million, packaging machinery (+17.98%), € 114 million and foundry machinery (+95.81%) with € 85 million. Together these four types of goods account for almost 60 percent of total Italian machinery exports to Mexico. On the other hand, Italian exports of machinery for the printing industry, agricultural machinery and marble processing machinery were negative.
Initial negotiations that will lead to a partial amendment of the free trade treaty have been initiated, primarily desired by the new U.S. administration. It is difficult to predict what the outcome of these negotiations will be, however, it is certain that NAFTA will overcome this final hurdle as well.
The combined GDP of the three NAFTA countries is about USD 21 trillion (about € 18 trillion), and the total value of the area's trade has increased from about USD 290 billion (about € 260 billion) in 1993 to USD 1.2 trillion (about € 1.076) in 2016, i.e. it has quadrupled. Trade between Canada and Mexico has grown tenfold since the treaty came into force, reaching USD 30 billion (about € 27 billion). The spillover, in terms of employment, from the agreement is estimated to be about 14 million jobs. In the period from 1993 to the present, direct investment in/to NAFTA countries has tripled. U.S. companies have invested USD 425 billion in Mexico and Canada, while Canadian and Mexican companies have, in turn, invested a combined USD 240 billion in the United States. Through NAFTA, the three North American economies have achieved a rate of integration that is difficult to reverse.
As for and total Mexican imports from the 15 capital machinery sectors of the Machines Italia project, 2016 ended on a recovery (about +24 percent). Machinery and technologies for plastics and rubber processing showed a marked increase, as did machinery for glass and ceramics. The data reflect important manufacturing investments by Mexican manufacturing companies in the wake of a series of industry support programs and incentives launched by various federal governments (Querétaro, Guanajuato, Aguascalientes), in recent years.
Italian machinery exports (15 Machines Italia sectors) to Mexico increased 24 percent in 2016, compared to the previous year, reaching € 919 million. The growth of Made in Italy in Mexico was particularly driven by plastics machinery (+33.69%) with a value of more than € 163 million, hydraulic components (+7.88%)for € 153 million, machine tools (+16.81%) for € 124 million, packaging machinery (+17.98%), € 114 million and foundry machinery (+95.81%) with € 85 million. Together these four types of goods account for almost 60 percent of total Italian machinery exports to Mexico. On the other hand, Italian exports of machinery for the printing industry, agricultural machinery and marble processing machinery were negative.