- Strategic Location
- Large Economically Active Population
- Growing Internal Market
- Wide Network of Free Trade Agreements (FTAs)
- Tax Benefits and Incentives
- Technologically Sophisticated Economy
- Leading Industrial Sectors
- Competitively Priced Workforce
In 2019, the population in Mexico was 126,577,1691 inhabitants. Compared to 2010, the population in Mexico grew more than 10%.
In the first quarter of 2020, Mexico's economically active population was 57.3 million people. The workforce employed 55.4M people (39.5% women and 60.5% men) with an average monthly salary of $ 4.77k MX. The occupations that concentrated the largest number of workers were Sales Employees, Dispatchers and Shop Clerks (3.27M), Establishment Traders (2.73M) and Support Workers in Agricultural Activities (2.18M). There were 1.98M unemployed (unemployment rate of 3.45%).
Mexico's international sales in 2019 were $312MM, which grew 14.3% the same year. The products with the highest level of international sales in 2019 were Automobiles and other Motor Vehicles Mainly Designed for the Transport of People ($ 37.9MM), Machines and Data Processing Units, Not Specified or Included Elsewhere ($ 32.3MM) and Crude Petroleum Oils or Bituminous Mineral Oils ($ 22.5MM).
International purchases from Mexico in 2019 were $ 353MM, which decreased 5.27% the same year. The products with the highest level of international purchases in 2019 were Petroleum Oils or Bituminous Minerals ($ 28.8MM), Integrated Electronic Circuits ($ 21.3MM) and Parts and Accessories of Motor Vehicles ($ 17.5MM).
The main industrial sectors in Mexico (controls on total gross production) in 2014 were Manufacturing Industries ($ 6.75MM MX), Sectors Grouped by the Principle of Confidentiality ($ 1.23MM MX), Retail Trade ($ 855M MX), Financial and Insurance Services ($ 835M MX) and Wholesale Trade ($638M MX).
Among the most significantly attractive benefits and incentives for foreign manufacturers that seek to set up manufacturing in Mexico are:
- Duty-free imports for up to 18 months for raw materials and suppliers for IMMEX certified companies:
- A zero-rate value-added tax on exports, even when physically exported to a third-party;
- Value-added tax refunds for IMMEX certified manufacturers;
- Import duty refunds for inputs integrated into products exported by the manufacturer or sold to another entity for export;
- No local or state income taxes on corporate earnings.