Mexico – United Kingdom: Rising and successful industries
An economic relationship with bright future.
Art, music, gastronomy… The Dual Year Mexico-UK will be a great celebration where both nations will share the best of each other’s talent, exchange goods and their products. However, behind this relationship lays a long history of economic and commercial success.
According to the Ministry of Economy, UK is the sixth largest investor in Mexico, only behind the United States, the Netherlands, Spain, Canada and Belgium.
From 2000 to 2014, British companies have invested almost $9.5 billion USD in Mexico.
Trade between the two countries is no less important; it adds $5 billion USD profit a year.
In Mexico -a nation that gave the world Tequila and Mezcal-, the market demand for spirits and liquors is high, and are very well accepted. It’s no surprise that the main product imported from the UK is Whiskey! Each year, Mexico buys $102.4 million USD of this exclusive beverage.
Crawling up to the second place in imports from the UK, we face automotive and aircraft engines components, for assembly plants located north of Mexico.
Once those engines are manufactured and processed in Mexico, placed in automobiles and aircrafts, the finished product (cars and planes) are the second product that Mexico exports to the UK. In 2014, these sales summed up to a total of $64 million USD.
The number one exports from Mexico to the UK belong to the mining industry, generating a total of $227 million USD in 2014 in profits from the sale of gold, silver and copper.
Now in 2015, and after the energy reform, some British companies are expected to start investing in this sector. In 2011 Petrofac became the first private company to develop oil extraction tasks in the state of Tabasco, in a project worth $1 billion USD.
This year, cultural exchange, trade and education can open doors to new projects between Mexico and the UK.
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