Mexico, like the world as a whole, has had to adapt to the changes and challenges posed by the new mode inherited from the pandemic due to COVID 19. However, the outlook for Mexico is positive despite the complicated international environment expected this year, the country's exports are estimated to grow 2 percent in 2020.
Currently, Mexico is the world's 15th largest exporter as it has strengthened its manufacturing capabilities in more complex sectors, moving away from raw materials such as oil and focusing on manufacturing products integrated into regional and global value chains.
Another important and conjunctural event was the entry into force of the Treaty between Mexico, the United States and Canada (T-MEC), which confirms Mexico's membership in a region determined to remain united and competitive in the global economy. This Agreement will further strengthen the activity carried out by the Machines Italia program in the North American bloc.
Foreign trade information for March 2020 shows a trade surplus of $3.33 billion U.S. dollars, a balance that compares with the surplus of $1.44 billion U.S. dollars obtained in the same month of 2019. In the first three months of this year, the trade balance showed a surplus of US$3.88 million.
Mexico mainly exports: oil, vehicles (Mexico is the 5th largest exporter and producer of heavy and specialized vehicles and automotive parts, especially those used in the agricultural and construction sectors). The United States and Canada receive the largest number of light vehicles exported from Mexico. Minerals, Mexico is the 7th largest exporter of copper and the 9th largest exporter of gold worldwide.
The value of merchandise exports in March this year was $38.39 million, a figure composed of $37.15 million in non-oil exports and $1.24 million from oil companies. Exports to the United States grew at an annual rate of 1.2 percent, and exports channeled to the rest of the world grew by 1.8 percent.
Imports, the value of merchandise imports in the third month of 2020 reached $35 million, an amount that resulted in an annual decrease of (-) 6.7 percent.
Total Mexican imports of machinery and technology referred to the 15 sectors of the Machines Italia project, in the year 2020 first quarter, decreased -8.02%.
Machinery from the U.S., China, Germany, Japan, and Italy continue to be valued by Mexican companies or hold the top spots worldwide. Italy remains Mexico's fifth largest technology supplier, with a 5.11% market share.
Regarding Mexican imports of the main product categories of Italian machinery are: 1) metalworking machinery, 2) Fluid components 3) plastic and rubber processing machinery 4) packaging machinery, 5) Foundry machinery.
Statistics for the first quarter show a solid stability proportional to the general data, despite the difficult situation for traditional foreign trade development.
Currently, Mexico is the world's 15th largest exporter as it has strengthened its manufacturing capabilities in more complex sectors, moving away from raw materials such as oil and focusing on manufacturing products integrated into regional and global value chains.
Another important and conjunctural event was the entry into force of the Treaty between Mexico, the United States and Canada (T-MEC), which confirms Mexico's membership in a region determined to remain united and competitive in the global economy. This Agreement will further strengthen the activity carried out by the Machines Italia program in the North American bloc.
Foreign trade information for March 2020 shows a trade surplus of $3.33 billion U.S. dollars, a balance that compares with the surplus of $1.44 billion U.S. dollars obtained in the same month of 2019. In the first three months of this year, the trade balance showed a surplus of US$3.88 million.
Mexico mainly exports: oil, vehicles (Mexico is the 5th largest exporter and producer of heavy and specialized vehicles and automotive parts, especially those used in the agricultural and construction sectors). The United States and Canada receive the largest number of light vehicles exported from Mexico. Minerals, Mexico is the 7th largest exporter of copper and the 9th largest exporter of gold worldwide.
The value of merchandise exports in March this year was $38.39 million, a figure composed of $37.15 million in non-oil exports and $1.24 million from oil companies. Exports to the United States grew at an annual rate of 1.2 percent, and exports channeled to the rest of the world grew by 1.8 percent.
Imports, the value of merchandise imports in the third month of 2020 reached $35 million, an amount that resulted in an annual decrease of (-) 6.7 percent.
Total Mexican imports of machinery and technology referred to the 15 sectors of the Machines Italia project, in the year 2020 first quarter, decreased -8.02%.
Machinery from the U.S., China, Germany, Japan, and Italy continue to be valued by Mexican companies or hold the top spots worldwide. Italy remains Mexico's fifth largest technology supplier, with a 5.11% market share.
Regarding Mexican imports of the main product categories of Italian machinery are: 1) metalworking machinery, 2) Fluid components 3) plastic and rubber processing machinery 4) packaging machinery, 5) Foundry machinery.
Statistics for the first quarter show a solid stability proportional to the general data, despite the difficult situation for traditional foreign trade development.