A Huge Boost In Mexico’s International Commerce
Mexico is now emerging as an economic player in the worlds economy. With a wider range of investments, imports and exports than ever before, Mexicos economy and contribution to global commerce is impressive and diversified. Diversity is proven with the following statistics: Mexico is the worlds 12th largest economy and the 15th most significant country in the world in terms of international trade in goods.
Its the 17th most important country in the world in terms of its proven oil reserves and thirty fifth biggest in terms of it’s natural gas reserves. Its eighth in the world in tourism locations. It is the third biggest silver producer, producing 16% of the worlds silver. One out of every 8 cars sold in the United States is made in Mexico.
There are several strategic industries in Mexico which export a wide range of goods to different nations around the world. Commerce in Mexico, through exports, includes aerospace products, automobiles, automobile parts and medical, surgical, dental & veterinary instruments. Television sets and silver are among several other exports. Other upcoming exports include computers, and telecommunication equipment. Imports include electrical machinery, electrical equipment, mineral fuels, oils, vehicles and plastics. Trade between the US and Mexico has increased drastically.
Between the years 1997 and 2007, commerce increased from $ 176.37 billion to $ 363.97 billion. Thats a 7.5% a year increase. Mexico is third just to Canada and China in trade with the United States. Trade and commerce with the United States and Canada are preferential as a result of Mexicos North American location. As a matter of fact, the government of Canada has named Mexico as a Global Commerce Strategy priority market.
Market opportunities include automobile and manufacturing, motor vehicles and parts, electrical machinery and electronic gear. The modern Mexican economy has market potential in water treatment, solid waste management and renewable energy as well.
One could find several reasons to invest in Mexico. The countrys growth of the political and economical environment makes it perfect for investment. Investments are perfect because the local currency is strong and unemployment is on the decrease. Investments come primarily from the United States and Spain and consist of real estate, tourism and an emerging mortgage market.
Other investments include construction and the re location of businesses to Mexico because of its low property taxes, and free trade zones. Mexicos economy is right for investment, trade and commerce both domestically and globally.
ProMexico is the Mexican Government institution in charge of strengthening Mexicos participation in the international trade (comercio). With this objective in mind, the institution supports the export activity of companies established in the country and co-ordinates actions to attract foreign direct investment to national territory. ProMexico was established on June 13, 2007, as a sectoral public trust under the Ministry of the Economy, and ope