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The 10 most dynamic industries in Mexico

The ranking of the 10 industries in Mexico most dynamic in their growth from January to September 2022 was led by the Manufacture of computer, communication, measuring and other electronic equipment, components and accessories, with a 15.4% year-on-year rise.

Then the following subsectors of industrial activity obtained these results on a declining basis, according to Inegi data:

  • Manufacture of petroleum and coal products (+15 percent).
  • Printing and related industries (+12.6 percent).
  • Mining-related services (+11.8 percent).
  • Apparel manufacturing (+10.1 percent).
  • Transportation equipment manufacturing (+8.4 percent).
  • Specialized construction work (+8.3 percent).
  • Beverage and tobacco industry (+7.3 percent).
  • Tanning and finishing of leather and fur, and manufacture of leather, fur and leather substitute products (+6.4 percent).
  • Plastics and rubber industry (+5.4 percent).

Industries in Mexico

Overall, the Monthly Industrial Activity Indicator registered a 3.3 percent increase in the first nine months of 2022, year over year.

The manufacturing sector continues to be of great importance to the Mexican economy, both in terms of its contribution to Gross Domestic Product (GDP) and international trade.

The sector’s average contribution to GDP was 17.3% between 2016-2020; in 2021 it reached 18%, according to data from the World Trade Organization (WTO).

During 2016-2021 the sector expanded at an average annual rate of 0.6% in real terms, higher than GDP expansion (0.1 percent).

The sector, like the rest of the economy, suffered a sharp contraction in 2020 as a result of the health crisis and began to recover in 2021.

At the same time, the Mexican manufacturing sector has a high degree of diversification.

The main subsectors in terms of their contribution to manufacturing GDP continue to be the food industry (22% in 2020 and 21% by 2021) and the production of transportation equipment (20.9% in 2020 and 19.7% by 2021), which is Mexico’s main export item, followed by the computer and communication equipment industry (9.3% in 2020 and 8.7% by 2021), also an important export item.

 

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