The food sector ranked as the largest of Mexico’s manufacturing industries in terms of output in 2021.
Indeed, preliminary data from the Inegi show that the food industry reached a production of 703,600 million pesos last year, an increase of 9.8% per year.
At a year-on-year rate, all manufacturing industrial production in Mexico totaled 2 trillion 885.5 billion pesos (constant 2013), an increase of 8.6% year over year.
According to the US-Mexico Foundation, the Treaty between Mexico, the United States and Canada (USMCA) creates favorable conditions for the relocation of essential production processes and the reduction of the type of risks of overloaded supply chains that have been put on hold. highlighted (at great cost to businesses and consumers) by the Covid-19 pandemic.
At the same time, renewed rules of origin and a focus on innovation and emerging technologies have the potential to foster deeper regional integration for many of the region’s most important products, strengthening Mexico’s competitive position in the world.
After food, transportation equipment ranked second among the main manufacturing industries in the country, with a production of 534.1 billion pesos, an interannual increase of 8.9 percent.
The subsequent industries were: electronic and computer products (246.6 billion pesos, +9.8%), chemicals (223.3 billion, +0.6%), beverages and tobacco products (177.6 billion, +9.8%) and primary metals (174.7 billion , +10%).
Completing the ranking: machinery ($113.5 billion, +16.8%), manufactured metal products ($102.8 billion, +17%), electrical equipment, appliances and components ($100.7 billion, +16.2%) and plastic and rubber products ($90.9 billion, +16.7 percent).
The US-Mexico Foundation believes that the long-term economic benefits of the USMCA could be significant for manufacturing sectors that are already successful, such as the automotive, aerospace, machinery and equipment, electrical and electronic products, steel and metal products, textiles. and apparel, and could have a positive impact on high-tech sectors, including medical equipment, pharmaceuticals, biologics, and fintech, as well as agriculture and agribusiness, all supported by efficient transportation and logistics.