Foreign Direct Investment (FDI) inflows to communication equipment manufacturing to Mexico were US$215 million from January to September 2024, according to data from the Ministry of Economy.
The figure represents the highest amount in the last 14 years, even considering the previous full years in this comparison.
So far, the historical maximum was 247 million dollars of FDI in all of 2010.
Communication equipment
This industrial branch is made up of the manufacture of telephone sets; radio and television broadcasting and wireless communications equipment; and other communications equipment.
The trend of FDI inflows in communication equipment manufacturing, in millions of dollars, is presented below:
- 2018: 47.
- 2019: 62.
- 2020: 107.
- 2021: -0.7.
- 2022: 156.
- 2023: 189.
- January-September 2024: 215.
Mexican exports
From January-September 2024, the United States imported communication equipment for a customs value of US$84.435 billion, implying a year-on-year drop of 4.5 percent.
The following were the top foreign suppliers of these products to the United States in the first three quarters of the current year, in millions of dollars:
- China: 34,665 (-7.5 percent year-on-year).
- Vietnam: 10,999 (-27.3 percent).
- Mexico: 8,582 (-1.7 percent).
- India: 6,507 (+47.3 percent).
- Thailand: 6,372 (+41.2 percent).
Industry
In the third quarter of 2024, Mexico’s Gross Domestic Product (GDP) experienced growth of 1.1% compared to the previous quarter, in seasonally adjusted figures and in constant terms. Furthermore, compared to the same period last year, the increase was 1.6%.
In terms of sectors, Primary Activities stood out for their greater dynamism, both in quarterly and annual terms. On the other hand, Tertiary Activities also showed a good performance, although with a lower growth compared to Primary Activities.
However, Secondary Activities showed the slowest growth. This is mainly due to external factors. The accumulated appreciation of the exchange rate has discouraged manufacturing and maquila exports. In addition, the deceleration of industrial activities in the United States has also affected this sector.