Mexican external sales in this industry have fluctuated from $73 billion in 2021, to $83 billion in 2022, and finally to $70 billion in 2023. In each of those years, our country remained in 10th place, according to WTO figures.
Mexico remained in tenth place among the world’s largest exporters of office and telecommunications equipment in 2023, according to data from the World Trade Organization (WTO).
Mexican external sales in this industry have fluctuated from $73 billion in 2021, to $83 billion in 2022, and finally to $70 billion in 2023. In each of those years, Mexico ranked tenth.
Of the total manufactured goods exported worldwide, office and telecommunications equipment account for about 16 percent.
In 2023, the largest exporters of this type of goods were China ($709 billion), the European Union ($420 billion), Hong Kong ($329 billion), Taiwan ($244 billion) and the United States ($161 billion).
Worldwide exports of office and telecommunications equipment cover a wide range of products, from computers and printers to advanced telecommunications systems.
Other large exporters were Singapore ($153 billion), Vietnam ($122 billion), South Korea ($119 billion) and Malaysia ($114 billion).
According to WTO data, manufacturing trade declined slightly in 2023 (-3%), with larger declines in energy-intensive goods such as iron and steel (-15 percent).
Trade in office and telecommunications equipment also declined sharply (-9%), as did trade in electronic components (-11 percent).
Trade in the “other machinery” category, which covers capital goods and some durable consumer goods, rose slightly (4 percent) in 2023. The only product to record strong growth in value terms was automotive products, which rose 17 percent thanks to a surge in exports from China.
As for foreign direct investment (FDI) flows, the WTO indicated that they are increasingly moving towards economies perceived as friendly. According to the International Monetary Fund (IMF), FDI flows to and from emerging and developing economies are substantially lower for geographically more distant partners.
This sensitivity to geopolitical distance increased in 2018-21 compared to 2009-18 and is particularly pronounced in strategic sectors such as semiconductors, telecommunications equipment, equipment needed for the green transition, pharmaceutical ingredients, and critical minerals.
In particular, US imports from China declined in many product categories, including telecommunications equipment (-14%) and data processing machines (-29 percent).
Translated from the original publication: https://www.eleconomista.com.mx/empresas/Mexico-sube-a-la-tercera-posicion-entre-los-mayores-exportadores-automotrices-20240731-0159.html
