With a population of almost 130 million, a rich cultural history and diversity, and abundant natural resources, Mexico is among the 10 largest economies in the world and the second largest economy in Latin America. The country has strong macroeconomic institutions, and it is open to trade.
As in most Latin American countries, the best way to do business in Mexico is face to face. It’s about relationships and reliability, which means many hours and miles of flights and business lunches, a job that can’t be done just by email or video conference. And although most engineers and buyers will be able to communicate in English, it is difficult to establish high-trust relationships when you don´t speak Spanish.
The last few years, electronic components manufacturing was forecast to be the fastest growing industry in Mexico, followed by audio and video equipment manufacturing. Mexico’s main industries are food and beverages, tobacco, chemicals, iron and steel, petroleum, clothing, motor vehicles, consumer durables, and tourism.
The level of education has improved drastically over the last years and there is a high degree of specialization in design, engineering, technology and other disciplines.