Move over, China; from powering 1 in 4 North American vehicles to fueling a global aerospace boom and a nearshoring-driven construction frenzy, Mexico's industrial might is quietly redefining global manufacturing.
Key Takeaways
- In 2022, Mexico's manufacturing sector accounted for 17.8% of GDP, producing goods worth approximately 5.2 trillion MXN with over 250,000 establishments employing 4.2 million workers
- Mexico's industrial manufacturing output grew by 3.8% year-over-year in Q4 2023, driven by automotive and electronics subsectors contributing 42% of total production value
- The maquiladora industry in Mexico generated 1.2 million direct jobs in 2023, exporting $300 billion in manufactured goods primarily to the US
- Mexico's automotive manufacturing produced 3.9 million vehicles in 2023, capturing 25% of North American production
- In 2022, Mexico exported 2.6 million light vehicles, generating $100 billion USD, ranking 4th globally
- Ford's Hermosillo plant produced 450,000 vehicles in 2023, employing 3,200 workers with 98% local content
- Mexico's electronics manufacturing exports reached $105 billion in 2023, 80% to US and Canada
- Foxconn's Chihuahua plant assembled 50 million smartphones in 2022, employing 30,000
- Mexico produced 120 million televisions in 2023, with Mabe and LG plants leading output
- Mexico's aerospace industry employed 120,000 in 2023 across 300 companies, exports $9 billion
- Honeywell's Mexicala plant produced 1.2 million aircraft engines components in 2022
- Mexico manufactured 15% of Bombardier's business jets parts in 2023, value $1.5 billion
- Mexico's mining industry produced 13.5 million tons of copper concentrate in 2023, leading Latin America
- In 2022, Mexico was the world's 10th largest gold producer with 130 tons output, value $8 billion USD
- Silver production in Mexico reached 6,300 tons in 2023, 23% of global supply from Peñoles and Fresnillo
Mexico's industrial sector shows robust growth, led by strong automotive, aerospace, and electronics manufacturing.
Aerospace
- Mexico's aerospace industry employed 120,000 in 2023 across 300 companies, exports $9 billion
- Honeywell's Mexicala plant produced 1.2 million aircraft engines components in 2022
- Mexico manufactured 15% of Bombardier's business jets parts in 2023, value $1.5 billion
- Safran's Queretaro facility produced 500,000 turbine blades in 2023, employing 4,500
- In 2022, Mexico's aerospace exports grew 18% to $8.8 billion, focusing on wiring and composites
- Triumph Group Mexicana assembled 2 million fasteners for Boeing 737 in 2023
- Mexico's drone manufacturing output reached 50,000 units in 2023, market $500 million
- UTC Aerospace Mexicali produced landing gear for 787 Dreamliner, 300,000 parts/year
- In 2023, 35 new aerospace suppliers invested $1.2 billion in Baja California, adding 5,000 jobs
- Zodiac Aerospace Queretaro plant manufactured seats for A320, 10,000 units in 2022
- Mexico's satellite components production hit $200 million in 2023
- Parker Hannifin Tijuana facility output hydraulic systems for helicopters, $800 million sales
- In 2022, aerospace R&D centers in Mexico numbered 20, investing $300 million
- Collins Aerospace Chihuahua plant produced avionics for 500 aircraft in 2023
- Mexico's composite materials for aerospace output was 12,000 tons in 2023
- GE Aviation's Queretaro site manufactured engine casings, 50,000 units/year
- Aerospace maintenance sector in Mexico serviced 1,500 aircraft in 2023, $1 billion revenue
Aerospace Interpretation
From engine parts to avionics and even drone swarms, Mexico has firmly fastened itself as aerospace's indispensable workshop, where 120,000 skilled hands transform $9 billion in exports from nuts and bolts into soaring global flight.
Automotive
- Mexico's automotive manufacturing produced 3.9 million vehicles in 2023, capturing 25% of North American production
- In 2022, Mexico exported 2.6 million light vehicles, generating $100 billion USD, ranking 4th globally
- Ford's Hermosillo plant produced 450,000 vehicles in 2023, employing 3,200 workers with 98% local content
- Mexico's truck manufacturing output was 520,000 units in 2023, leading world exports with $22 billion value
- Volkswagen's Puebla plant assembled 780,000 vehicles in 2022, including Jetta and Taos models
- In 2023, Mexico's auto parts industry exported $120 billion, employing 900,000 across 1,400 clusters
- GM's Ramos Arizpe facility produced 350,000 SUVs in 2023, with $1.5 billion investment announced
- Mexico's electric vehicle production reached 120,000 units in 2023, up 40% from prior year
- Nissan’s Aguascalientes plants output 800,000 vehicles annually, 70% exported to US
- In 2022, auto R&D investment in Mexico hit $2.8 billion, with 150 engineering centers
- Stellantis Toluca plant produced 250,000 Jeep models in 2023
- Mexico's motorcycle manufacturing output was 1.2 million units in 2023, exports $1.5 billion
- BMW San Luis Potosi plant produced 175,000 vehicles in first full year 2023
- Audi's San Jose Chiapa plant output 150,000 Q5 SUVs in 2022, employing 4,500
- Mexico's heavy truck exports reached 110,000 units in 2023, 45% market share in US
- Toyota's Baja California plant produced 200,000 Tacomas in 2023
- In 2023, 45 new auto supplier plants opened in Mexico, adding 25,000 jobs
- Mexico's bus manufacturing output was 25,000 units in 2022, exports to Latin America $800 million
- Kia Pesquería plant ramped to 400,000 vehicles/year by 2023
Automotive Interpretation
From piston-pumping power to quietly humming electric circuits, Mexico's auto industry has firmly shifted from the backseat to the driver's seat, now steering a quarter of North America's production and proving its global clout isn't just a flashy hood ornament but a full-scale, job-creating economic engine under the hood.
Construction
- Mexico's construction sector grew 4.2% in 2023, valued at 4.5 trillion MXN, employing 5 million
- In 2022, residential construction starts reached 450,000 units, 15% YoY increase
- Highway construction added 2,500 km in 2023, investment $10 billion USD
- Mexico City airport project employed 40,000 at peak 2023, $20 billion cost
- Cement consumption hit 52 million tons in 2023, up 8%
- In 2022, industrial parks construction boomed with 50 new sites, 1 million sqm
- Tren Maya rail project advanced 60% in 2023, 1,500 km track, $30 billion budget
- Non-residential construction grew 6% to 1.2 trillion MXN in 2023
- In 2023, 120,000 affordable housing units built via Infonavit
- Port expansion projects added 5 million TEU capacity in 2022, $5 billion invested
- Steel used in construction reached 15 million tons in 2023, 70% imported
- Maya Train first segment inaugurated 2023, employing 30,000 workers
- In 2022, renewable energy plants construction added 2 GW capacity
- Commercial real estate completions 5 million sqm in 2023, Monterrey and CDMX lead
- Public works spending $50 billion in 2023, 40% infrastructure
- In 2023, 800 km new toll roads built, reducing logistics costs 10%
- Hotel construction pipeline 150,000 rooms by 2025, $15 billion value
- Water infrastructure projects 500 dams and plants in 2022, $8 billion
- Nearshoring drove 20 million sqm warehouse construction in 2023
Construction Interpretation
The numbers tell a story of a nation vigorously pouring concrete, laying track, and raising roofs at a formidable pace, but the dependency on imported steel for all this ambition reveals the construction muscle still has a crucial, and expensive, Achilles' heel.
Electronics
- Mexico's electronics manufacturing exports reached $105 billion in 2023, 80% to US and Canada
- Foxconn's Chihuahua plant assembled 50 million smartphones in 2022, employing 30,000
- Mexico produced 120 million televisions in 2023, with Mabe and LG plants leading output
- Semiconductor assembly in Mexico hit 15 billion chips in 2023, 25% growth via nearshoring
- Whirlpool's Ramos Arizpe facility produced 4 million appliances in 2022, exports $2.5 billion
- Mexico's medical devices manufacturing output was $40 billion in 2023, ranking 9th globally
- Samsung's Tijuana plant manufactured 20 million monitors in 2023
- In 2022, Mexico's wiring harness production reached 450 million units, 60% for autos
- Flextronics Baja California plants employed 50,000 producing PCBs worth $10 billion
- Mexico's air conditioner manufacturing output was 8 million units in 2023, exports to US $1.8 billion
- Jabil's Guadalajara facility produced server components for $3 billion in 2022
- Mexico exported $25 billion in computers and peripherals in 2023
- Celestica's Mexicali plant assembled 15 million networking devices in 2023
- In 2023, Mexico's LED lighting production hit 500 million units, market $2 billion
- Sanmina Sonora plant produced telecom equipment worth $1.5 billion in 2022
- Mexico's household appliances manufacturing grew 12% to $18 billion in 2023
- Lite-On's Juarez facility output 100 million optical drives in 2023
Electronics Interpretation
While clearly more than a taco-laden fiesta, these staggering numbers prove Mexico's electronics manufacturing sector is not just America's backyard workshop but its indispensable, highly sophisticated, and shockingly prolific industrial partner.
Manufacturing
- In 2022, Mexico's manufacturing sector accounted for 17.8% of GDP, producing goods worth approximately 5.2 trillion MXN with over 250,000 establishments employing 4.2 million workers
- Mexico's industrial manufacturing output grew by 3.8% year-over-year in Q4 2023, driven by automotive and electronics subsectors contributing 42% of total production value
- The maquiladora industry in Mexico generated 1.2 million direct jobs in 2023, exporting $300 billion in manufactured goods primarily to the US
- In 2021, Mexico ranked 12th globally in manufacturing output value at $261 billion USD, with food and beverages comprising 22% of total
- Mexico's chemical manufacturing subsector produced 12.5 million tons of products in 2022, valued at 1.1 trillion MXN, employing 180,000 people
- Textile manufacturing in Mexico output reached 1.8 billion sqm of fabric in 2023, with exports of $8.7 billion mainly to the US
- Mexico's metalworking manufacturing sector had 45,000 establishments in 2022, generating 850 billion MXN in sales and 450,000 jobs
- In 2023, non-metallic minerals manufacturing produced 120 million tons of cement and glass products worth 400 billion MXN
- Furniture manufacturing exports from Mexico hit $2.1 billion in 2022, with 15% growth driven by nearshoring, employing 120,000 workers
- Mexico's paper and printing manufacturing sector output was 5.2 million tons in 2023, valued at 250 billion MXN
- Plastic products manufacturing in Mexico reached 8.9 million tons in 2022, with 70% exported, generating $15 billion USD
- In 2023, Mexico's food manufacturing industry processed 45 million tons of products, contributing 28% to manufacturing GDP
- Machinery manufacturing output grew 5.2% in 2022 to 650 billion MXN, with 60,000 jobs added
- Mexico's rubber manufacturing sector produced 1.2 million tons in 2023, exports $4.5 billion
- Pharmaceutical manufacturing in Mexico filled 2.8 billion units in 2022, market value $12 billion USD
- Tobacco manufacturing output was 65 billion cigarettes in 2023, with exports to 50 countries worth $1.2 billion
- Mexico's leather goods manufacturing employed 90,000 in 2022, exports $1.8 billion
- Wood products manufacturing produced 25 million cubic meters in 2023, value 180 billion MXN
- Electrical equipment manufacturing output reached 300 billion MXN in 2022, 15% YoY growth
- Mexico's beverage manufacturing sector produced 12 billion liters in 2023, exports $5 billion
- Precision instruments manufacturing had 5,200 firms in 2022, sales 120 billion MXN
Manufacturing Interpretation
Mexico's manufacturing sector is a remarkably sturdy and diverse industrial beast, proving it's far more than just tacos and tequila by churning out everything from cars and chemicals to furniture and pharmaceuticals, employing millions, and cementing its status as a global export powerhouse with over $300 billion in shipments largely to its ever-thirsty northern neighbor.
Mining
- Mexico's mining industry produced 13.5 million tons of copper concentrate in 2023, leading Latin America
- In 2022, Mexico was the world's 10th largest gold producer with 130 tons output, value $8 billion USD
- Silver production in Mexico reached 6,300 tons in 2023, 23% of global supply from Peñoles and Fresnillo
- Iron ore output was 20 million tons in 2022, with exports to China valued at $2.5 billion
- Mexico's zinc mining production hit 650,000 tons in 2023, 6th globally
- Coal mining output reached 12 million tons in 2023, primarily from Coahuila
- Fluorite production was 1.4 million tons in 2022, Mexico world leader with 70% market share
- In 2023, 45 active gold mines operated, producing from Sonora and Chihuahua states
- Mexico's molybdenum output was 45,000 tons in 2022, 4th largest producer
- Graphite mining production reached 50,000 tons in 2023, new Sonora projects
- Lead mining output 180,000 tons in 2022, exports $1.2 billion
- In 2023, mining contributed 8.5% to manufacturing inputs, employing 370,000 directly
- Salt production was 9 million tons in 2022, Guerrero Negro largest solar plant globally
- Barite output 200,000 tons in 2023, used in oil drilling
- Mexico invested $5.2 billion in mining exploration in 2022, 15 new discoveries
- Sulfur production 1.8 million tons in 2023 from volcanic sources
- In 2022, 1,200 mining concessions active, covering 20 million hectares
- Cement raw materials mining supplied 45 million tons limestone in 2023
- Mexico's phosphate rock output 1.5 million tons in 2022
- Lithium exploration advanced with 5 projects in Sonora, potential 10 million tons reserves 2023
- Mining exports totaled $17 billion in 2023, 85% metals
Mining Interpretation
Mexico is not just a treasure chest for silver and gold but a full-service geological department store, quietly and persistently powering global industry from the subsoil up.
Oil and Gas
- In 2023, Pemex produced 1.6 million barrels of oil per day, 90% from Gulf offshore
- Mexico's proven oil reserves stood at 6 billion barrels in 2022, 96% operated by Pemex
- Natural gas production reached 4.2 billion cubic feet per day in 2023, imports from US $10 billion
- Pemex refining capacity utilization was 52% in 2023, processing 1.1 million bpd
- In 2022, Mexico exported 1.2 million bpd crude oil, mainly to US and Europe, value $50 billion
- Deepwater oil production grew to 180,000 bpd in 2023 from Trion and Zama fields
- Mexico's LPG production was 45,000 bpd in 2022, with 70% domestic consumption
- In 2023, 110 exploratory wells drilled, discovering 15 new fields
- Pemex debt stood at $100 billion in 2023, impacting capex to $15 billion
- Natural gas pipeline network expanded to 20,000 km in 2023, 30% private
- Mexico imported 1.1 million bpd refined products in 2022, cost $25 billion
- Ku-Maloob-Zaap field produced 720,000 bpd in 2023, largest onshore cluster
- In 2023, 25 new service contracts awarded, attracting $5 billion investment
- Petrochemical output from Pemex was 5.2 million tons in 2022, ethylene 1.8 million tons
- Mexico's fuel consumption hit 1.8 million bpd gasoline in 2023
- Cantarell field output declined to 170,000 bpd in 2023 from peak 2 million
- LNG imports began in 2023 at 0.3 bcf/d, new Altamira terminal
- In 2022, oil rig count averaged 85, up 20% YoY
- Pemex upstream investment $12 billion in 2023, 60% maintenance
- Associated gas flaring reduced to 5% in 2023, saving 2 bcf/d
Oil and Gas Interpretation
Mexico's energy industry paints a picture of a nation precariously straddling its proud, oily past and an uncertain future, simultaneously boasting world-class offshore production and crippling refining inefficiency, all while shouldering a monumental debt that hangs like a sword over its critical investments.
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