|
Mexico
’s economic growth was 1.7 percent in 2002 with growth
projected at 1.5 percent for 2003. Inflation is under tight
control at 5.7 percent in 2002 with 2003 expected to see between
4.5 to 5 percent. The government is supporting the peso, which
has remained at a ratio of approximately 10 Mexican pesos to one
U.S. dollar.
The
North American Free Trade Agreement (NAFTA) continues to be a
key factor in raising
Mexico
’s overall level of economic
activity. In 2001, the
United States
provided nearly 78 percent of
Mexico
’s imports and in 2002
continued to provide 74 percent of imports.
Major
industrial cities in
Mexico
include:
•
Mexico City
: Major industries include auto
parts, food processing, electrical equipment, electronics,
machine tools and heavy machinery.
Mexico City
and the 21 principal
municipalities of the surrounding State of
Mexico
account for approximately 40
percent of
Mexico
’s industrial base.
•
Monterrey
: The so-called Industrial Heart
of Mexico is home to more than 13,000 manufacturers producing
9.4 percent of
Mexico
’s manufactured products.
Manufacturing represents 20 percent of
Mexico
’s economy.
Monterrey
’s conglomerates are thought
to control more than half of
Mexico
’s total industrial assets
(excluding the oil and telecom monopoly giants). Through private
sector initiative, active promotion of international investment,
a modern infrastructure, and a well-educated work force,
Monterrey
has created an economic boom,
boasting the highest per capita income of
Mexico
.
Monterrey
’s conglomerates produce 75 percent of glass, 60 percent of
synthetic fibers, 60 percent of cement, 50 percent of beer, 50
percent of ceramic products, 40 percent of household appliance
and 25 percent of steel in
Mexico
.
Monterrey
and
Saltillo
, the capital of the neighboring state of Coahuila and a
45-minute drive from
Monterrey
, are powerhouses in auto parts production which supply the GM
and Daimler- Chrysler facilities in
Saltillo
. Packaged food products, chemicals, electrical materials,
electronic components and telecommunications equipment are also
manufactured in the area. Many representatives in
Monterrey
market...
...Continued
in the pages of Twin Plant News, Subscribe Today! |
