According to the latest forecast by Delta Economics, Mexican exports are set to grow year on year by 9.7% in November. In particular, there are encouraging signs ahead with some of its regional trading partners. Whilst combined, the USA and Canada consume the largest slice of the Mexican export pie (80%), trade with fellow Latin American partners are picking up steam too: this trend is especially so when it comes to some of the tech-orientated bellwether products for Mexico. For November, sales are expected to improve year on year with Argentina in products such as road vehicles, up +17.9%, and in computers by +6.4%. Exports to Brazil remain healthy as ever: trade is projected to grow year-on-year for items such as road vehicles +19.5%, computers +16.7% and electrical machinery +13.7%. And for Colombia too, trade in road vehicles are expected to increase year-on-year by 18%, whilst exports in computers will grow by 12% and those in electrical machinery by +5.8%.
For the time being at least, the Mexican economy is weathering the storm; but in order to remain ahead of the curve, Mexico must continue to strengthen its institutions and work on moving its exports base towards more value-added products.
For more information, visit Delta Economics.
Hasta la próxima!