Study by ECLAC highlights potential in Mexican automotive industry
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A study in Foreign Direct Investment (FDI) from the Economic Commission for Latin America and the Caribbean (ECLAC) highlights that the Mexican automotive industry contributes more than 3% of GDP and 18% of the country’s manufacturing GDP.
ECLACÂ detailed the auto sector has a trade surplus topping US$ 52 billion a year, records accumulated FDI of more than US$ 51.2 billion since 1999 (11% of the total) and is responsible for around 900,000 direct jobs.
With 80% of production going to the export market, and 86% of these exports having Canada and the U.S. as their destination, Mexico has become the seventh global producer of vehicles and the world’s fourth-largest exporter.
MexicoNow
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