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Mexico's Strong Economy Spurs Growth in Manufacturing Sectors

13 September, 2012

Late last month Imagen de Mexico announced that Mexico's
economy is still expanding,with manufacturing up significantly during the
first quarter of 2011. A variety of new and established companies have been
ramping up operations across many different sectors,namely the steel and auto
production industries,which have reached record breaking numbers.

According to Eduardo Solis,president of the Mexican
Association of the Automotive Industry (AMIA),in May of 2010,more than
213,000 cars were manufactured in Mexico,which is up nearly 20 percent from
the same period in 2010 and is one of the highest production numbers on record.
As further proof of the strength of Mexico's economy,exports rose nearly 22
percent during the same period,and Mexico has earned the title of the
ninth-biggest vehicle producer in the world,with a whopping 50 percent
increase in production since 2009.

To add to the good news,Mazda is building a new,$500
million dollar plant in Guanajuato,while Daimler Trucks North America has
announced the addition of a third shift,which will add more than 500 jobs to
the facility. In addition,automotive parts supplier Delphi has announced that
it will invest more than $11 million and create more than 2,000 jobs at its new
manufacturing facility in Durango.

According to Carlos Guzman of Promexico,“Because of its
manufacturing capacity,Mexico is a very competitive platform for several
European and Asian economies that are looking to penetrate or increase their
participation in the United States. Mexico is a remarkable manufacturing hub
for the automotive industry,among others.”

The steel industry has also been growing in Mexico,thanks
in large part to POSCO's recent announcement of a $300 million dollar planned
investment. The company's new plant in Altamira is expected to create nearly
1,000 new positions. Aerospace giant Hawker Beechcraft has also continued to
expand its plant in Chihuahua City,investing more than $100 million dollars
and creating 600 new jobs.

As a result of this
continued growth,President Felipe Calderon has promised that his country will
continue to work hard to attract more investment dollars for its manufacturing
sectors,which continues to strengthen its reputation internationally as a safe
bet with a strong economy.

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Topics: Economy

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