Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
Index
1.
Relevant Information
2
2.
International Outlook
9
3.
National Outlook
10
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
Relevant Information
National Business
• Webasto, a German auto parts company, may establish a design laboratory for convertibles in Puebla,
informed Miguel Mantilla, delegate of the Ministry of Economy (SE).
•
For the auto company Chevrolet, Mexico is ranked fifth in global sales, informed Jorge Plata, director of
Marketing and Advertising of General Motors de México.
• Freixenet México, a subsidiary of the Spanish wine producer, invested 1.4 million dollars (one million
euros) to expand its plant in Querétaro, doubling production capacity from one thousand to two thousand bottles of wine per hour.
• Volkswagen will close 2011 with the production of 8.1 million vehicles in Mexico, said Erwin Polo
Feldmann, president of the auto parts sector of the National Chamber of the Transformation Industry
(CANACINTRA) in Puebla.
• Grupo Kuo plans to acquire Fritec’s spare brake business, whose sales reach 50 million dollars, positioning its subsidiary Dacomsa as leader in the spare brake market, through the production and sale of its
products.
•
Thirty-five Mexican companies participated in the national pavilion coordinated by ProMéxico at the
AAPEX Show 2011, a specialized automotive and auto parts sector event, which took place from November 1 to 3 in Las Vegas, Nevada.
• Mexichem, a leader in Latin America’s chemical and petrochemical industry, will invest – a first for a
Mexican company – 150 million dollars in the construction of a hydrofluoric acid plant in Korea, inside
the industrial complex in Ulsan, a city located on the southern part of the Korean peninsula.
• Empacadora San Marcos, a producer of fruit in syrup, peppers, sauces and canned beans, among
other products, will invest more than 40 million pesos to expand its plant to increase its sales and trigger
new jobs in the coming years.
•
The Japanese Neaton Auto Productos de Manufactura invested eight million dollars in a plant
which produces air bags, steering wheels and interior components for the automotive sector, creating
600 jobs in the municipality of El Marqués, Querétaro.
•
So far in 2011, Grupo México has invested close to 396 million dollars in the development of its main mining projects: the Buenavista complex in our country, Toquepala in Peru and Asarco in the United States.
•
In the third quarter of 2011, Heineken’s global sales reached almost 6.4 billion dollars, said Fernando
Ortiz, the company’s brand director in Mexico.
• Nemak, a manufacturer of aluminum heads and monoblocks for engines, will invest 1.3 million dollars
in an R&D project aimed at producing engine heads that are smaller, but equally or more powerful and
more efficient in fuel consumption.
Relevant Information
• Suzuki Motor de México plans to sell 10 thousand new units in 2011, which would equal a growth of
close to 25% compared to 2010.
2
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
Carlos Guzmán Bofill, CEO of ProMéxico, participated in the British Mexican Business Forum with
businessmen from both countries, to analyze mechanisms to give a greater boost to the industry and
bilateral trade.
• Giant Motors, a truck manufacturer, began its expansion outside Mexico by exporting the first 10 units
to the US market, informed Elías Masri, the company’s director general.
• Inalfa Roofs Systems, an international car sunroof producer, invested three million dollars in a new
plant at the Parque Tecnoindustrial of Irapuato.
•
Between January and October 2011, the Italian brands that operate under Grupo Chrysler de México
have placed a combined total of more than 1,800 units, namely more than 700 units of the FIAT 500, an
Italian icon produced in the Toluca plant.
International Business
• Time Warner, an American media company, offered 1.4 billion dollars for Endemol, a Dutch producer
and owner of program formats such as Big Brother, which is trying to restructure a 2.7 billion dollar debt.
• Anglo American, a British mining company, will pay 5.1 billion dollars for 40% of what the Oppenheimer
family shares in the DeBeers diamond mining company in South Africa, bringing its ownership to 85%.
• Kirin, a Japanese brewery, purchased all the shares that it did not already own of its Brazilian peer Schincariol, for 1.4 billion dollars.
•
Between January and September 2011, Chilean wine producer Concha y Toro’s net gain fell 18.5%
inter-annually to 52.7 million dollars.
•
During the third quarter of 2011, the Argentinean Tenaris, the world’s largest seamless steel pipe producer for the oil industry, recorded net gains of 21% inter-annually and 365.5 million dollar profits.
• Delphi, the auto parts manufacturer that recovered from bankruptcy in 2009, revealed details of the
initial public offer of the reconstituted company. The American company, based in the United Kingdom,
expects to attract close to 554 million dollars.
• Best Buy, the American electronics retailer, will purchase shares of the British Carphone Warehouse in
its cell phone sites in the US and Canada for 1.3 billion dollars.
• Disney and YouTube partnered to produce original videos and an online channel, both planned to
debut in 2012, with a budget of up to 15 million dollars.
•
During the third quarter of 2011, Toyota’s profits recorded a 19% fall, reaching 1.029 million dollars, due
to a quick appreciation of the yen against the dollar, production cuts in the US and Japan and the shortage of units, which affected sales.
•
In October 2011, McDonald’s reported a 5.5% increase in restaurant sales in operation for at least 13
months, compared to 2010, supported by a promotion with the board game Monopoly and strong
sales outside the US.
•
During the third quarter of 2011, the Brazilian steel company Usiminas’s profit fell to 88 million dollars
from 293 million in 2010, partly due to an 18.8% depreciation of the real against the dollar.
Relevant Information Información relevante
•
3
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
• CFR, a Chilean producer of generic medicines, purchased 50.8% of the Canadian Uman Pharma for 26.5
million dollars.
•
During the third quarter of 2011, General Motors (GM) recorded a 1.730 million dollar gain – an interannual fall of 12%.
•
During the third quarter of 2011, the Brazilian beer company AmBev recorded profits of 968 million
dollars, a seven percent inter-annual drop, due to a rise in financial costs triggered by the fall of the real.
• Pacific Rubiales, Colombia’s largest private oil company, recorded a 71% inter-annual increase in its
profits for the third quarter, to 193.7 million dollars, due to greater production and higher crude prices.
National Economy
•
President Felipe Calderón emphasized the importance of continuing the responsible handling of the
economy as a means to create jobs and attract capital, which during his administration has exceeded
102 billion dollars of foreign direct investment (FDI).
•
Between 2010 and 2011, Mexico’s automotive sector has received eight billion dollars in investments, a 14.1% increase; in terms of production slightly above 27 thousand units and in terms of exports, a 14.2% growth, going from 169,510 units in September 2010, to 193,590 units in September
2011, informed Emilio Mosso, coordinator of Investment Projects at ProMéxico.
•
During the first half of 2011, Mexico reached a surplus of 665 million 358 thousand dollars in the
agricultural trade balance with the United States, recording a total trade of 18 billion, 740 million, 358
thousand dollars, of which nine billion, 703 million 102 thousand correspond to Mexican exports.
•
In the last five years, the number of Federal Inspection Type (TIF) establishments which process
meat products in Mexico has grown by 40%, said Enrique Sánchez Cruz, director-in-chief of the National Service of Agri-food Health, Safety and Quality (SENASICA).
•
Between April and June 2011, the states with the highest growth in economic activity were Colima, Nuevo León, Baja California Sur, Coahuila and Querétaro, according to data from the National Institute of Statistics and Geography (INEGI).
•
Between January and September 2011, Mexico reached an aggregate level of one million, 905
thousand 659 assembled cars, with a 14.7% growth. For their part, exports to Europe of cars manufactured in Mexico increased by 9.8% compared to the same period in 2010, reaching 155,411 units,
according to data from the Mexican Association of the Automotive Industry (AMIA).
•
According to estimates by the Economic Commission for Latin America and the Caribbean (CEPAL),
Mexico’s economy may grow by 3.8% in 2011.
•
Between January and August 2011, production of the metal mining industry in Mexico increased
by 18.8% compared to the same period in 2010, due to a higher exploitation of some metals, mainly
industrial, informed INEGI.
Relevant Information
• Morgan Stanley sold its 50% share in the Chilean electricity distributor Saesa to Alberta Investment
Management, one of Canada’s largest pension funds.
4
Current Economic Events
•
Biweekly Issue - I
November 1 - 15, 2011
At the close of 2011, Nuevo León will consolidate itself as a bridge for Mexican exports with sales
abroad of close to 30 billion dollars, of products such as auto parts, steel, electronics, home appliances
and food, said Juan Manuel Quiroga Lam, director of the Mexican Business Council for Foreign Trade,
Investment and Technology (COMCE) of the North-eastern region.
• Querétaro’s trade sector expects to earn 4.8 billion pesos in investments in 2011, said Tonatiuh
Salinas Muñoz, head of the Ministry of Sustainable Development (SEDESU).
By 2015 the automotive industry will create 500 thousand new jobs in the sector, due to an increase in vehicle production by assembly companies such as Nissan, General Motors, Volkswagen, Ford
and Toyota, said Emilio Mosso, coordinator of Investment Projects for ProMéxico.
• Mexico is the fourth information technology (IT) service exporter on a global level and the sixth
most attractive country for the provision of IT support services, informed A.T. Kearney.
• Mexico could become a global power in metal mining production due to the 37 minerals extracted in national territory, of which 22 are considered high potential, stated Adolfo Albo, chief economist
of BBVA Bancomer.
• Mexico will rank 10th among the leading global economies by 2050, estimated Sandy Flockhart,
HSBC’s director general for Europe, Asia and Latin America.
•
By 2012 the federal government will increase purchases from Mexican small and medium businesses (SMBs) by 15%, reaching 83 billion pesos, informed President Felipe Calderón.
•
Between January and October 2011, 727 thousand new jobs have been created in Mexico; in October
alone, 123 thousand work positions were registered with the Mexican Social Security Institute (IMSS),
informed President Felipe Calderón.
• Mexico is one of the 12 leading food exporters of the world, informed Bruno Ferrari, minister of
Economy.
•
Between 2006 and 2010, the telecomm sector in Mexico grew by 98%, stated Dionisio Pérez-Jácome,
minister of Communications and Transportation.
•
With an investment exceeding four billion dollars since its privatization, freight trains in Mexico already transport 27% of the country’s cargo, said Emilio Sacristán, president of the Mexican Railroad Association (AMF).
• Mexico is one of the most attractive markets in Latin America for hotel investment, assured
Daniel del Olmo, senior vice president and director general for the area of Grupo Wyndham.
•
In October 2011, Mexico recorded a 0.67% rise in inflation, according to government data.
•
According to estimates by Mexico's central bank (Banxico), the country will grow between 3.5 and
four percent in 2011, and between three and four percent in 2012, due to the fall in the global economic growth expectations and the United States’ deceleration, particularly in its industrial activity.
•
Between January and September 2011, Mexico’s exports to China increased by 56%, turning it into
the third leading export destination for the country, according to data from Banxico.
Relevant Information
•
5
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
International Economy
•
Between 2011 and 2013, the six most attractive countries for foreign investment will be China,
the United States, India, Brazil, Russia and Mexico, according to the World Investment Report for 2011
from the United Nations Conference on Trade and Development (UNCTAD).
•
The G20 Summit in Cannes may mean a historic turn in the global economy with Asian and Latin
American emerging countries contributing with financial aid for Europe, through the International Monetary Fund (IMF).
•
Last November 7, the Japanese government strongly intervened in the exchange market, selling close to seven trillion yen (92.310 million dollars), a daily record, according to operators’ estimates.
•
Between January and September 2011, Asia increased steel production by 9.5% with a total of 728.3
million metric tons; the European Union, 4.3% to reach 135.7 million metric tons; and North America,
6.1%, reaching 89.3 million metric tons, according to data from the World Steel Association (Worldsteel).
• G20 leaders will outline a plan to help the global economy return to a balanced growth, a strategy
that will include Italy’s promise to reduce its debt and deficit, according to a draft of a release from the
summit.
• The European Financial Stability Facility (EFSF) issued a debt for three billion euro (4.1 billion dollars), which barely attracted sufficient interest.
• Silvio Berlusconi, Prime Minister of Italy, resigned from his post after a round of votes in the Parliament
which evidenced the weakness of the European country’s government.
• Christine Lagarde, managing director of the IMF, stated that if the globe’s economies do not react
jointly to the crisis, there will be a risk of falling into a “spiral of global financial instability”.
• Giorgos Papandreou, Prime Minister of Greece, sealed an agreement with the opposition to form a
new coalition government to approve the rescue of the euro zone before calling early elections, after
the European Union (EU) demanded a quick end to the crisis. Papandreu agreed to step down as soon
as the new government is formed.
•
Former vice president of the European Central Bank, Lucas Papademos, is the new prime minister of
Greece and will head the new coalition government.
• Latin American economies will grow by 4.4% in 2011, on average, and close to four percent in
2012, informed José Ángel Gurría, secretary general of the OECD.
•
In October 2011, China recorded an inter-annual fall of 1.1% in vehicle sales, reaching 1.5 million
units, due in part to stiffer competition from foreign automotive companies that offer simpler and
cheaper models, informed the China Association of Automobile Manufacturers (CAAM).
•
The main New York indexes were hit by the uncertainty of Italy’s economic situation: Standard &
Poor’s (S&P) marked its worst session in three months, losing 3.67%; while Nasdaq and Dow Jones fell
3.88% and 3.2%, respectively.
Relevant Information
• Latin America could grow only four percent in 2012, following the expected 4.4% close in 2011
and the 5.4% recorded in 2010, according to the Latin American Economic Outlook Report 2012 of the
Organisation for Economic Cooperation and Development (OECD) and CEPAL.
6
Current Economic Events
Biweekly Issue - I
November 1 - 15, 2011
Mexico in International Media Outlets
“Grupo México Drops Plans to Merge Asarco with Southern Copper”, Dow Jones, 31/10/2011.
Grupo México said that it has dropped a plan to merge its US unit Asarco with Southern Copper, the subsidiary that runs its Mexican and Peruvian mining operations. It added that Americas Mining Corporation will
explore strategic alternatives which could include securities offerings in capital markets.
“Remittances Show Peso Rebound May Fuel Debt Rally: Mexico Credit”, Bloomberg, 04/11/2011.
Mexico is receiving more dollars and that is going to have a positive impact on the peso in terms of softening its depreciation. The increase in remittances may help spark a rebound in the peso, buoying localcurrency Mexican government bonds. Many Americans profit from the low cost of the peso to send higher
amounts of dollars to their families. However, the peso may continue to lose value due to the financial crisis
in Europe and the US.
“Arizona Trade Helped by Strong Mexican Economy”, Arizona Daily Star, 07/11/2011.
A strong Mexican economy is helping Arizona keep the pace with other states in export sales this year. Mexico accounted for more than a third of the state’s international trade in the first half of 2011, when Arizona’s
total export sales jumped 1.2 billion dollars, to 8.9 billion dollars. Mexico’s quick recovery from the global
recession and a strong peso are key factors in its increasing share of Arizona’s exports, said Lora Mwaniki, a
border economy expert.
“Mexico to Earn Royalty on Light Bulb Carbon Credits”, Reuters, 07/11/2011.
Under the project, an Australian company, Cool NRG International, will distribute 45 million energy efficient
light bulbs to low-income households in Mexico City. Every ton of CO2 saved will generate a credit, which
Cool NRG will sell to companies in rich nations. In total, the project aims to reduce 16 million tons of carbon
dioxide (CO2) over 10 years.
“Hotel Capacity in Guadalajara Increased with the Pan-American Games”, EFE, 07/11/2011.
The Ministry of Tourism (SECTUR) informed that the Pan-American Games contributed to increasing
Guadalajara’s hotel capacity by 8.6% compared to the same period in the previous year. The city went from
15,700 to 17,050 available hotel rooms between October 2010 and October 2011, when the games took
place, a 38% increase compared to the same period in the previous year.
“Mexican Bimbo Completes Purchase of Sara Lee Affiliate in the US”, Associated Press (AP),
07/11/2011.
Bimbo announced that it completed the acquisition of 41 plants of Sara Lee Corp. in the US for 709 million
dollars. With this purchase, Bimbo will assume the rights to the brand’s bakery products globally, except in
Western Europe, Australia and New Zealand.
“GE Signs 200 Million Dollar Electric Services Deal with Mexico’s CFE”, EFE, 07/11/2011.
GE said it signed a 200 million dollar long-term services contract with the Mexican Federal Electricity Commission, or CFE. The 15-year contract covers six high-efficiency gas turbines installed for the repowering
and maintenance of Manzanillo Thermoelectric. As part of the contract, GE must supply parts, repairs and
services for the gas turbines, generators and auxiliary equipment. The project will benefit more than 10
million homes.
Relevant Information
“Mexico Scraps Plans to Build 10 Nuclear Power Plants in Favor of Using Gas”, Bloomberg,
02/11/2011.
Mexico’s Energy Minister, Jordy Herrera, said that Mexico, one of three Latin American nations that uses
nuclear power, is abandoning plans to build as many as 10 new reactors and will focus on natural gas-fired
electricity plants after boosting discoveries of the fuel. Mexico will seek private investment of about 10
billion dollars during five years to expand its natural gas pipeline network.
7
Current Economic Events
Biweekly Issue - I
November 1 - 15, 2011
“Mexico’s Trade Deficit Down 75.8% in the Third Quarter of 2011”, EFE, 09/11/2011.
INEGI also informed that the trade deficit reached 474.7 million dollars in the third quarter of 2011, 75.8%
below the same period of the previous year. It added that total exports reached 259.4292 billion dollars between January and September, that is, a 19.6% advance compared to the same months in 2010.
Relevant Information
“Car Production Up Nine Percent to 240 Thousand 648”, Dow Jones, 09/11/2011.
AMIA reported that auto production during October increased by nine percent compared to the previous
month due to the strength of exports. The US remained the market for Mexican cars during the first 10
months; however, Latin America, particularly Brazil, showed higher growth.
8
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
International Outlook
•
According to production values estimated by the International Monetary Fund (IMF), the leading economies in 2010 were the United States, China and Japan.
•
Mexico is ranked 14th, above countries such as South Korea and Switzerland.
Table 1. GDP and GDP per capita of the World's
Twenty Leading Economies 20101
Country
United States
China
Japan
Germany
France
U.K.
Brazil
Italy
India
Canada
Russia
Spain
Australia
Mexico
South Korea
Netherlands
Turkey
Indonesia
Switzerland
Poland
GDP
(mmd)* Ranking
14,658
5,878
5,459
3,316
2,583
2,247
2,090
2,055
1,574
1,538
1,465
1,410
1,236
1,039
1,007
783
742
707
524
469
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
*At current prices.
1
Values estimated in April 2011 by the IMF.
Table 2. Economies with the
Largest GDP per capita 20101
GDP per capita
Dollars*
Ranking
47,284
4,382
42,820
40,631
41,019
36,120
10,816
34,059
46,215
1,265
10,437
30,639
55,590
9,566
20,591
47,172
10,399
3,015
67,246
12,300
Country
Luxembourg
Norway
Qatar
Switzerland
UAE
Denmark
Australia
Sweden
Netherlands
United States
Canada
Ireland
Austria
Finland
Singapore
Belgium
Japan
France
Germany
Iceland
9
93
16
19
18
22
53
23
11
133
56
27
7
61
34
10
57
105
4
47
Dollars*
Ranking
108,832
84,444
76,168
67,246
56,147
55,590
48,875
59,717
47,284
47,172
46,215
45,689
44,987
44,489
43,117
42,630
42,820
41,019
40,631
39,026
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
*At current prices.
Values estimated in April 2011 by the IMF.
1
International Outlook
Production and Income Indicators
9
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
National Outlook
Sector
2005
2006
2007
JanJun
2001
26,948 15,575 19,627 10,601
9
41
24
62
564
4,734 726
933
461
61
4 -293
492
1,351 703
122
7,899 5,519 11,318 3,998
723
248 730
892
740
1,620 791 1,804
200
381 101
159
1,487 161
188 1,059
4,155 2,446 1,796 2,282
405
1,510 902 1,178
334
2,545 375
229
0
0
0
-31
8
521 2,874
642
1
108
2
7
0
26
17
4
62
-18
5
31
5
-166
68
179
13
45
72
109
0
0
0
0
2008
Total
24,280 19,951 30,070
Agricult., livestock, forest utilization, fisheries and hunting
144
16
21
Mining
212
433 1,683
180
-85
Electric., water and gas supply through ducts to final consumers 195
Construction
294
427 1,976
Manufacturing industries
10,996 9,987 13,555
Wholesale
702
1,626
781
Retail
840
1,260
-99
Transportation, post and storage
296
1,654 -180
Information in mass media
301
1,603
677
2,255 3,910 6,339
Financial and insurance services
Real estate and furniture and intangible asset leasing services 1,175 1,132 1,189
349
127
701
Professional, scientific and technical services
Corporation and company management
0
0
0
Business support serv. and waste manag. and remediation services
915
2,016 1,427
Educational services
39
18
1
Health and social services
25
4
5
Cultural and sports leisure services and other recreational services
250
38
55
Temporary lodging and food and beverage preparation services
777
760 1,243
Other services except government activities
44
15
-2
Governm. and intl. and extraterritorial organization activities
0
0
0
2009
2010
% Share 2005% Share
Jan-Jun June 2005-June
2011
2011
2011
100% 147,052 100%
0.1%
316
0.2%
5.3%
9,285
6.3%
-2.8%
522
0.4%
4.6%
5,365
3.6%
37.7% 63,272 43.0%
6.8%
5,701
3.9%
7.0%
6,956
4.7%
1.9%
2,611
1.8%
10.0%
5,475
3.7%
21.5% 23,183 15.8%
3.8%
7,492
5.1%
3.1%
4,659
3.2%
0.0%
-31
0.0%
0.1%
8,403
5.7%
0.0%
176
0.1%
0.0%
81
0.1%
0.6%
424
0.3%
0.1%
2,865
1.9%
0.1%
296
0.2%
0.0%
0
0.0%
Source: Ministry of Economy (SE).
•
Between January and June 2011, the main countries that supplied FDI flows to Mexico were the United States
with 7.855 billion dollars (74.1%) and Spain with 897 million dollars (8.5%).
•
In addition, France and Denmark stand out with 147 million dollars (1.4%) and 107 million dollars (1%), respectively.
Table 4. Foreign Direct Investment by Place of Origin (million dollars)
Countries
2005
Total
24,280
North America
12,161
United States
11,682
Canada
479
European Union
8,379
Netherlands
4,010
Spain
1,679
Germany
335
Luxembourg
169
France
373
United Kingdom
1,348
Finland
18
Belgium
-17
Italy
27
Austria
0
Denmark
40
Ireland
17
Sweden
375
Other countries
3
Source:
Ministrycountries
of Economy (SE).
Remaining
3,741
2006
2007
19,951 30,070
13,527 12,914
12,910 12,438
617
476
6,529 13,715
2,801 5,753
1,437 5,381
644
623
536
178
155
237
600
950
19
47
50
230
26
48
42
55
197
88
-11
81
38
25
0
12
-105 3,440
2008
2009
2010
26,948 15,575 19,627
14,037 8,573 6,443
10,995 6,973 5,302
3,043 1,600 1,141
10,037 6,077 12,138
2,138 2,066 8,862
4,881 2,670 1,405
608
27
304
186
336
349
240
112
196
1,255
345
546
25
79
50
36
95
337
20
39
107
32
-12
-1
-14
76
-10
96
113
94
375
66
12
17
58
33
2,874
925 1,046
Jan-June
2011
10,601
7,950
7,855
95
1,058
-92
897
-111
69
147
-81
3
47
7
0
107
59
3
4
1,594
% Share
% Share
2005Jan-Jun June 2011 2005-June
2011
2011
100%
100% 147,052
75.0% 75,606 51.4%
46.3%
74.1% 68,155
5.1%
0.9%
7,452
10.0% 57,932 39.4%
17.4%
-0.9% 25,538
12.5%
8.5% 18,351
2,429
1.7%
-1.1%
1,824
1.2%
0.7%
1,461
1.0%
1.4%
4,963
3.4%
-0.8%
242
0.2%
0.0%
779
0.5%
0.4%
275
0.2%
0.1%
117
0.1%
0.0%
484
0.3%
1.0%
448
0.3%
0.6%
895
0.6%
0.0%
127
0.1%
0.0%
9.2%
15.0% 13,514
National Outlook
Table 3. Foreign Direct Investment by Sector (million dollars)
10
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
•
Mexican exports reached 259.429 billion dollars between January and September 2011, representing a 19.6% growth compared to the same period in the previous year.
•
For their part, manufacturing exports increased by 15.4% in the referenced period.
Variables
September
2011
Annual
Variation
Jan-Sep
2011
Annual
Variation
12 month
Accum.
Annual
Variation
28,814
4,374
3,738
635
24,440
617
471
23,352
30,644
-1,830
-6,204
13.7%
31.8%
32.6%
27.3%
11.0%
50.5%
126.4%
9.1%
18.5%
250.0%
61.5%
259,429
41,705
36,486
5,219
217,725
7,836
2,998
206,890
259,904
-475
-42,179
19.6%
41.2%
44.7%
20.7%
16.3%
23.2%
78.9%
15.4%
18.8%
-75.8%
33.9%
341,074
53,859
47,188
6,672
287,215
10,087
3,746
273,382
342,595
-1,521
-55,380
19.9%
37.2%
41.7%
11.7%
17.2%
19.9%
78.3%
16.5%
19.6%
-21.5%
34.4%
Total exports
Oil companies
Crude oil
Other
Non oil companies
Agricultural
Extractive
Manufactures
Total imports
Total trade balance
Total trade balance,
without oil exports
Reviewed Numbers. Source: Bank of Mexico.
•
Sales destined for the United States represented 7.8% of all Mexican exports, reaching 204.386 billion
dollars between January and September 2011.
Table 6. Mexico's Exports by Country (million dollars)
Country
United States
Canada
China
Colombia
Spain
Brazil
Germany
Netherlands
Japan
Chile
Argentina
U.K.
Guatemala
Venezuela
India
Jan-Sep
2011
%
Share Ranking
204,386 78.8%
8,063 3.1%
4,243 1.6%
4,210 1.6%
3,501 1.3%
3,304 1.3%
3,245 1.3%
1,700 0.7%
1,670 0.6%
1,552 0.6%
1,505 0.6%
1,494 0.6%
1,330 0.5%
1,224 0.5%
1,208 0.5%
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
Reviewed Numbers. Source: Bank of Mexico, Global Trade Atlas (GTA).
Main Three Export Products (4 digits)
Tourism cars, computers and autoparts
Tourism cars, television sets and electrical devices
Tourism cars, copper minerals and copper waste
Tourism cars, tractors and television sets
Frozen fish, polycarboxylic acids and autoparts
Tourism cars, polycarboxylic acids and autoparts
Tourism cars, autoparts and electrical devices
Electrical devices, computers and fruit juices
Silver, pork and tourism cars
Television sets, tourism cars and transportation vehicles
Tourism cars, electrical devices and transportation vehicles
Gold, electrical devices and piston engines
Medicines, organic surface agents and cables
Medicines, hair preparations and malt
Electrical devices, copper waste and parts for railroad vehicles
National Outlook
Table 5. International Trade (million dollars)
11
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
•
On a regional level, sales to North America recorded a 16.9% growth, while those to Latin America recorded a 28.4% growth between January and September 2011.
•
Sales to the European Union reported a 36.5% growth. For their part, exports to the Asian market increased by 41.1% during the referenced period.
Region
Jan - Sep
2011
% Annual
Var.
% Share
Total
North America
United States
Canada
Latin America and the Caribbean
Central America
South America
Antilles
Europe
European Union
Other European countries
Asia
Africa
Oceania
Unidentified
259,429
212,449
204,386
8,063
19,722
4,165
13,868
1,689
15,601
14,039
1,686
10,501
504
716
127
19.7%
16.9%
17.6%
1.7%
28.4%
22.1%
30.3%
28.8%
38.4%
36.5%
71.0%
41.1%
57.3%
26.9%
-15.3%
100%
81.9%
78.8%
3.1%
7.6%
1.6%
5.3%
0.7%
6.0%
5.4%
0.6%
4.0%
0.2%
0.3%
0.0%
Reviewed Numbers. Source: Bank of Mexico.
•
The most dynamic sectors in August 2011 in terms of exports were the pharmaceutical sector (24.3%)
and the automotive and chemical sectors (22.7% each), compared to August 2010.
Table 8. Mexican Exports by Sector (million dollars)
Sector
August Annual Jan-Aug Annual
2011
2011
Var.
Var.
Main Three Export Products (3 digits)
Automotive
6,398 14.4% 46,971 22.7% Tourism cars, autoparts and transportation automobiles
Electronics
4,899
-5.7% 35,342
1.7% Television sets, electrical devices and computers
Electric
2,300
7.8% 16,119
7.5% Refrigerators, cutting devices and consoles
Chemical
1,031 29.8%
Med. Equip.
544
Pharmaceutical
221 35.6%
Reviewed Numbers. Source: GTA.
6.0%
7,519 22.7% Polyacetals, hair preparations and polymers
4,013
7.4% Surgical devices and instruments, orthopaedic devices and
mechanotherapy devices
1,539 24.3% Medicines, heterocyclical compounds and gauzes
National Outlook
Table 7. Mexico's Exports by Region (million dollars)
12
Biweekly Issue - I
November 1 - 15, 2011
Current Economic Events
•
In the manufacturing sector, exports of metal products, machinery and equipment reached 149.369
billion dollars between January and September 2011, representing a 12.2% growth compared to the
same period in the previous year.
Table 9. Exports by Manufacturing Area (million dollars)
September Annual Jan - Sep Annual
% Share
2011 Variation
2011 Variation
863
A. Food, beverages and tobacco
652
B. Textiles, clothing and leather
41
C. Wood industry
160
D. Paper, printing and editorial industry
814
E. Chemicals
675
F. Plastic and rubber products
260
G. Manufact. of other non-metallic mineral products
623
H. Steel industry
1,585
I. Metal mining
17,053
J. Metallic products, machinery and equipment
624
K. Other manufacturing industries
0.1%
5.9%
14.1%
2.9%
17.0%
16.6%
5.1%
21.1%
45.8%
6.2%
14.9%
8,876
5,953
396
1,600
7,389
6,130
2,350
5,966
13,110
149,369
5,752
24.5%
12.4%
10.3%
11.1%
17.6%
19.8%
6.3%
23.8%
53.3%
12.2%
17.9%
4.3%
2.9%
0.2%
0.8%
3.6%
3.0%
1.1%
2.9%
6.3%
72.2%
2.8%
Reviewed Numbers. Source: Bank of Mexico.
•
Exports of metal products, machinery and equipment from the automotive sector increased by 24%
annually, reaching 59.821 billion dollars between January and September 2011.
•
For their part, exports of machinery and special equipment for various industries reached 28.716
billion dollars, representing a 17.4% growth during the referenced period.
Tabla 10. Exports of Metallic, Machinery and Equipment Products (million dollars)
Sector
1. For agriculture and livestock
2. For other transportations and communications (automotive products)
3. Special machinery and equip. for various indust.
4. Domestic use metallic products
5. Professional and scientific equipment
6. Electric and electron. devices and equipment
7. Optical photo devices and clocks and watches
Reviewed Numbers. Source: Bank of Mexico.
September Annual Jan - Sep
2011
Variation 2011
Annual
Variation
% Share
51
7,259
18.4%
21.8%
526
59,821
24.4%
24.0%
0.4%
40.0%
2,998
442
826
5,446
31
4.6%
12.7%
0.7%
-8.3%
-22.6%
28,716
4,008
8,048
47,927
323
17.4%
12.7%
10.3%
-1.8%
-12.2%
19.2%
2.7%
5.4%
32.1%
0.2%
National Outlook
Area
13