Delta Economics forecasts that Mexican exports will continue to gain momentum over the festive period and into the New Year.
Although the USA and Canada still import the largest share of Mexican products, business remains brisk with these partners. There seems to be a growing dependence in terms of Mexican trade ties with their Latin American counterparts: Brazil is poised to buy a substantial amount of bellwether goods from Mexico: exports in vehicles will grow by 12.7%, locomotives 15.4% and machinery and mechanical appliances by 10.4% year-on-year in December. Trade with Colombia will also improve by 11.4% in vehicles and by 5.5% in machinery and mechanical appliances. Exports to Peru will rise by 17.9% in locomotives whilst with Chile, exports in electrical machinery and telecoms will grow by 4.4% year-on-year in December. Trade with Argentina will increase in vehicles by 11.3% in December year-on-year.
As we have mentioned in previous weeks, the Mexican economy is showing healthy signs of growth and this is particularly so in the technology-orientated sectors where the pickup remains relatively stable.
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Hasta la próxima!