Extract of the article published in Plaza de Armas, May 9th, 2011
SinceMexico entered the GATT in the 80s, commerce began a dynamic of internationalization that has generated the signature of 15 trade agreements with more than 40 countries.
Since
Let’s analyze the exports side of the foreign commerce activity.. If we evaluate since 1993, a year before the beginning of NAFTA, Mexican total exports has had an average annual growth of 10.8%. This growth has placed Mexico in number 15 during 2009 according to the World Economic Forum (an improvement of one place compared with 2008).
Now, I’ll focus the analysis only in non-oil exports (oil exports represent 14% of the total exports), to understand the behavior of the products that come from the rest of economic sectors.
In 2010 we exported products to 199 countries. When we see the composition of those exports, we find a high concentration in the United States . In 2000, that concentration had its peak when it represented 90% of non-oil exports; but since then, there has been a slight trend to reduce that concentration, reaching 80% levels since 2008. The regions that have increased its participation are South America, Asia and Europe .
Region/Country | Participation in 2000 | Change | |
United States | 90.1% | 79.4% | -10.7% |
South America | 1.7% | 5.6% | + 3.9% |
Asia | 1.2% | 3.8% | |
Europe | 3.2% | 5.2% | |
Canada | 2.0% | 3.9% |
Made by Atalaya with data from the Group of Work of External Commerce Statistics, formed by BANXICO, INEGI, SAT and Economía.
The countries that have influenced more this change in composition due to their growth as destinations are Colombia , Brazil , Argentina , Chile , Holland , Germany , China and Japan .
Now, regarding the kind of products, the two main sectors are machinery and electrical material, as well as vehicles and materials for transportation. These sectors represent approximately 66% of non-oil exports. There are sectors that have increased their participation in exports, like precious metals and stones, products of food industry, and medical and optical instruments. On the other hand, textiles have reduced its participation in exports.
As statistics show, different entrepreneurs are looking abroad, and it can be a strategy to diverse risks considering the different economic events that appear to be slowing down the current growth dynamic. There are different possibilities for exporting, and it can be either focusing in the destinations available through trade agreements (as with South America, considering the creation of a new commercial block with Peru , Colombia and Chile ), or focusing in economies that are having strong growths (as China and India ).