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ECONOMIC BRIEFINGS
Information provided by the Mexico Trade Commission-Bancomext’s
New York Office.
MEXICAN EXPORTS GREW 13.7%
IN 2005
Mexico exported goods and services for a total of
$214 millions in 2005, 13.7% more than in 2004. This
growth was fueled by oil exports which jumped 35%
and non-oil exports 10%.
MEXICAN EXPORTS CONTINUE TO
LOSE MARKET SHARE IN THE US
According to Credit Suisse, Mexican exports have
been losing market share in the US since 2000. In
2005, market share fell to 10.2%, the lowest since
1997 and down from 10.6% in 2004. Categories of
products that have had the worst performance are
cars and auto-parts, oil, computers and their parts,
apparel and household goods and telecommunications
equipment.
FOREIGN DIRECT INVESTMENT
REACHED $17.8 BILLION IN 2005
The Ministry of Economy informed that the foreign
direct investment in Mexico totaled 17.8 billion in
2005. That is very similar to what was received in
2004. This result positioned Mexico as the third
largest recipient of foreign direct investment that
year after China and Hong Kong. It is worth
mentioning also, that investment in the Maquiladora
industry increased from $2.5 billion in 2004 to $2.8
billion in 2005 contributing to a continued recovery
of that sector.
REMITTANCES TO MEXICO GREW
TO $20 BILLION IN 2005
Remittances to Mexico received in 2005 grew from
$16.6 billion in 2004 to $20 billion in 2005, $3.4
billion more according to the Ministry of Finance of
Mexico. Those remittances were sent through 59
million transactions of an average of $341 each.
MEXICO’S GDP IN 2006 IS
ESTIMATED AT 3.5%
According to the Ministry of Finance of Mexico the
economy is expected to grow between 3.5% and 3.7% in
2006, after achieving 3% in 2005 and creating
576,599 formal jobs.
CHRYSLER IS TO INVEST $1
BILLION IN MEXICO
DaimlerChrysler AG has announced in March that is
joining forces with its suppliers to invest $1
billion in Mexico to modernize and re-tool their
facilities and to create new industrial parks for
suppliers. The investment includes upgrades to the
Toluca Assembly Plant, the creation of two supplier
parks, and additional operational improvements.
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