The Main economic activities in Mexico Are the industries of food, beverages, tobacco, chemicals, iron, petroleum, clothing, vehicles, and tourism.
Mexico is a major exporter of silver, fruits, vegetables, coffee, cotton, fuel and its derivatives. Worldwide, it is the thirteenth largest economy in the world. Its economy has had great macroeconomic stability; Their interest rates and their inflation are quite low.
The Mexican economy contains modern developing industries and service sectors. They have recently increased their production of electricity generation and distribution of natural gas.
It is an economy oriented mainly towards the export; Most of its treaties exist under free trade agreements (FTAs). The Mexican labor force is made up of about 52.8 million people.
Main economic activities of Mexico
Automotive sector
The calls"Grandes Tres", composed of General Motors, Ford and Chrysler, have operated in Mexico since the years of 1930; Volkswagen and Nissan built their plants in the 1960s. Later, Toyota, Honda, BMW and Mercedes Benz joined.
The automotive sector in Mexico differs from others in Latin America and other developing nations as it does not simply function as a manufacturer assembling the parts.
The industry produces complex technological components and participates in research and major development activities.
An example of the importance of these elements can be appreciated in the new Volkswagen Jetta model, since 70% of its parts are designed in Mexico.
Due to the high requirements of North American components in the industry, many European and Asian suppliers of auto parts in the industry have moved to Mexico. Only in Puebla there are 70 conglomerates of developers of parts of Volkswagen.
Electronic Manufacturing
The electronics industry in Mexico has grown considerably in the last decade. Mexico has the sixth largest industry in this market in the world. This country is the second exporter of electronics to the United States.
The Mexican electronics industry is dominated by the manufacture and design of televisions, computers, cell phones, circuit boards, semiconductors, electronic devices, communications equipment and LCD modules.
This industry has grown about 17% each year since 2003. It currently accounts for 30% of Mexican exports. The manufacture of televisions is the dominant sector in the electronic industry of this country.
Fuel industry
The constitution dictates that natural resources are the property of the nation or public property. For this reason, the energy sector is managed by the government with several degrees of private investment.
Mexico is the sixth largest producer of fuel in the world. The company is in charge of managing the research, exploration and sales of oil and derivatives is called Pemex.
This company is one of the largest crude oil producers in the world; Has earnings of about 130 billion dollars.
This country ranks number ten in terms of world oil reserves.
farming
This sector employs a large percentage of the Mexican labor force. Many mechanized farms operate in the northwestern states, such as Sinaloa for example.
Most crops involve horticulture, tropical fruits and vegetables. Over the years, this industry has grown so that producers expand from maize to other vegetables, to nuts, coffee and sugar cane. Mexico is the seventh largest maize producer in the world.
The commercial production of potatoes is about 1.7 million tons. The production of sugar and coffee is also quite considerable in the country.
In general, Mexico's main agricultural products include beef, fruits, vegetables, corn, milk, pork, and eggs.
tourism
Tourism is a major contributor to Mexico's gross domestic product. The country offers about 26 places considered cultural or natural heritage of humanity.
Since the 1960s this sector has been promoted. Traditionally it is one of the most visited countries in the world, and is the second most visited country in America.
The country's peak season occurs between December and mid-summer. Mexico attracts many tourists because of its climate, ancient ruins, colonial cities, and nature reserves.
In addition, much time and effort has also been devoted to developing several specialized areas of tourism.
These areas include ornithology, extreme sports, festivals and culinary tours, among others.
Mining
Mining represents another field of economic activity for the country, especially in the extraction of silver. Mexico is one of the largest producers of this precious metal.
It has been proven that Mexico has the largest reserves of silver in the world. The extraction of silver can be traced back to about 500 years ago; Occupied 70% of its exports until a few centuries ago.
Mexico has consistently been a major producer of silver. A large number of companies are always on the quest to explore or exploit this metal. There are a lot of mines in the country.
Aerospace industry
This industry is one of the three major manufacturing industries in Mexico. This sector has been a very lucrative investment for the country, exceeding three trillion dollars in recent years.
It is estimated that this industry will continue to grow in the coming years at the same time as it is believed to employ 35,000 jobs in the country. Currently, 200 companies in the aerospace area manufacture and employ more than 200 thousand people.
Mexico has become a great choice for companies that want to manufacture at low cost in North America. Nowadays, almost all the parts of an airplane can be manufactured in Mexico; This includes rifles, fuselage, and sensors for jets.
To attract more companies, the government has made a comprehensive multi-year plan to increase and improve the country's aerospace design and development. In addition, this plan has attractive labor prices for investors.
References
- Frontoline / World Mexico Facts. Retrieved from pbs.org
- Economy of Mexico. Retrieved from wikipedia.org
- 10 things to know about the mexican economy (2015) retrieved from weforum.com
- Economy of Mexico. Recovered from explorandomexico.com
- Agriculture in Mexico. Retrieved from wikipedia.org
- Manufacturing in Mexico: aerospace. Recovered from maquillareference.com
- Silver mining in Mexico (2017) Recovered from investingnews.com
- Tourism in Mexico. Retrieved from wikipedia.org.