According to Delta Economics, Mexico’s relationship with its NAFTA partners is more important than ever: trade with Canada is expected to increase year-on-year by 10% in December, whilst trade with the USA is expected to grow by 4.3%. Mexico relies heavily on its NAFTA partners which purchase 80% of all Mexican goods.
Delta Economics expects technology sectors to do particularly well: exports to the USA and Canada remain strong and this has been underpinned by the success of the American economy in (Q3)2014. The outlook in December looks stable with exports in computers/mechanical appliances up 9.4% year-on-year. Growth in this sector will be spurred by a 9.5% increase in exports to USA and a 12.5% rise in exports to Canada.
Another notable sector is vehicles and in December, sales will grow by 8.3% year-on-year due to a 6.9% rise in sales to the USA and 16% growth in sales to Canada. There is also good news in terms of exports in locomotives, which will increase by 7.5% year-on-year; from this figure, sales to Canada will leap ahead by 12.2% and those to the USA will increase by 7.1%.
Exports remain the “bread and butter” for the Mexican economy and so with its strong ties with NAFTA, growth is likely to persist. For more information, visit Delta Economics.
Hasta la próxima!