Excited to be in London, UK, for Day 1 of the Farnborough International Airshow 2024, the ultimate gathering for the aerospace industry! 🌍✈️
Our mission is to highlight Mexicali, Mexico’s leading aerospace hub, and to discover new business opportunities.
Visit us at the Mexico Pavilion in Hall 3 – Booth 3320, from July 22nd to 26th.
Let’s innovate the future of aerospace together!
We’re excited to be part of this premier aerospace event.
Discover our latest innovations in industrial warehouses and explore how we can help you take your business to the next level in aerospace excellence.
📅 Date: July 22-26, 2024
📍 Location: Mexican Pavilion, Hall 3 Booth #3320
✉️ Contact: vrocchio@pimsa.com.mx
#PIMSA #FarnboroughAirshow2024 #AerospaceInnovation #IndustrialWarehouses #ExcellenceInAviation
Mexico consolidated its position as the main trading partner of the United States by recording a historic record in its exports during May of this year.
Sales of Mexican goods to the northern neighbor reached 43.88 billion dollars, according to data from the US Census Bureau. The amount of exports from Mexico to the US has been on the rise since December 2023, when a figure of 36.61 billion dollars was reported.
It should be noted that since December 2023, when an amount of 36.61 billion dollars was reported, shipments of Mexican products to the US have continued to rise, as this is the fifth consecutive increase.
This figure not only represents the highest point in the history of Mexico’s monthly exports to the United States but also reflects a 6.1 percent growth compared to May of 2023.
The Census Bureau revealed that in May, Mexico’s position as a key supplier to the US economy was consolidated, with a market share of 15.9 percent.
On the other hand, the accumulated total for the first five months of 2024 also showed positive figures, as Mexican exports to the United States totaled 206.80 billion dollars, setting another record and representing an increase of 6.2 percent compared to the same period last year.
It is worth noting that the outstanding performance of Mexican exports occurs in the context of the reconfiguration of global supply chains. The USMCA, which came into effect in July 2020, strengthens trade ties between Mexico and the United States.
Janneth Quiroz, director of economic analysis at Monex, highlighted the importance of these results by noting that Mexico continues to position itself as the main supplier of goods to the US, which is very positive considering that about 40 percent of the country’s GDP is explained by exports.
Quiroz pointed out that positive structural factors, such as the USMCA, have laid the foundation for these results, in addition to the trade war between the US and China, from which Mexico has benefited by acting as a substitute for many goods demanded by the US.
“Although we do not yet see a significant rebound in new investment, the fact that we have had substantial increases in existing investments is helping the established capacity to become increasingly efficient,” she said.
For his part, John Soldevilla, CEO of ECOBI, noted that after two good years of exports to the US in 2021 and 2022, with increases of 18 percent each, they significantly moderated in 2023, but this year they are recovering.
He explained that recent rates are unstable with highs and lows due to the stagnation of the US industrial sector in 2023 (0.2 percent) and the modest growth projected for this year (0.7 percent). However, he was optimistic about the future.
“Nearshoring will be important, especially for manufacturing, which accounts for 90 percent of the total and is what the US buys from us. By 2030, almost 95 percent of what is exported will be manufacturing,” he added.
With information from El Financiero.
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GUADALAJARA, JAL.- The Secretary of Economy and Innovation, Kurt Honold Morales, participated in the panel “Mexico as an Investment Destination for Semiconductors” as part of a forum to discuss the prospects, opportunities, and challenges for the semiconductor industry in the country. The forum was promoted by the Ibero-American Technology Foundation, the University of Guadalajara, and Santander Universities.
The event is part of the efforts of the Mexico Semiconductor Alliance and featured a program of conferences and panels with federal and state government authorities, representatives from academia, companies, consultancies, as well as related organizations, including authorities from the United States Embassy in Mexico.
During his participation, alongside the Secretaries of Economy from Jalisco, Coahuila, Sonora, Chihuahua, and Aguascalientes, Honold Morales emphasized the need to develop talent in semiconductor design and “backend” manufacturing, which focuses on the final stages of semiconductor production, including assembly, packaging, testing, and quality control.
He highlighted that investments from companies like Skyworks, Infineon, and Qualcomm provide a solid starting point to boost the local ecosystem, leverage industry opportunities, and attract more investments in the sector. Consequently, actions such as specialized training to adapt to evolving technologies and strengthening collaboration between academia, industry, research institutions, and the government have been undertaken to harness collective expertise.
The state official explained that successful international programs have been used as references to develop robust ecosystems in semiconductors, such as those in Taiwan, Singapore in Asia, and the United States. Among the initiatives he highlighted were a training scholarship program in semiconductors for 100 educators, specialized English courses in collaboration with Arizona State University, CETYS, the Autonomous University of Baja California, and local technological institutes, as well as certification in high technology and semiconductors by UABC. Additionally, new technical degrees and engineering programs in semiconductors were introduced, and a seminar was held in June in Japan as part of the promotional tour activities.
Source: https://www.pro-baja.com.mx/es/post/contribuye-baja-california-para-acelerar-la-industria-de-los-semiconductores-en-m%C3%A9xico-secretar%C3%ADa-d
The Secretariat of Economy reports a historic figure for Foreign Direct Investment in the first quarter of #2024 in Mexico; over 20.3 billion dollars.
Source: https://www.linkedin.com/posts/probaja-trade-and-investment_inversiaejn-extranjera-maezxico-activity-7198739155080667136-VEdc?utm_source=share&utm_medium=member_desktop
Mexico has become the top choice for foreign investors. Its geographical and commercial proximity to the United States, as well as the fiscal and monetary prudence that continues to characterize its economy, are its main attraction factors, noted Luis Berlfein, Head of Global Markets for Latin America at BNP Paribas.
The strengthening of the peso against the dollar over the past two years has not been coincidental, he commented. This notion of greater business opportunities due to the trade agreement with the United States and the confidence provided by the country’s macroeconomic stability are factors that have undoubtedly attracted capital to the market, he noted.
The Bank of Mexico was among the first to react to the signs of global inflation shocks and is noted for having maintained restrictions until inflation was reduced, he stated. Even now, with inflation far from the peak reached in September 2022, it still maintains one of the highest rates. This is well recognized by the markets, he emphasized.
From his perspective, even with the increase in the fiscal deficit this year to levels not seen in three decades, Mexico stands out for its prudence in managing public finances. Unlike other countries that have not begun consolidation, Mexico did not incur significant debt during the pandemic, he noted.
The Head of Global Markets for Latin America at BNP Paribas dismissed the idea that the democratic process the country will undergo in June will moderate the flow of investments attracted by nearshoring.
According to the expert, the infrastructure sector is receiving the most investments, and BNP Paribas’ experience in Mexico allows them to observe that when a company invests in infrastructure, it is considering long-term business potential that goes far beyond a single government administration.
Investors Define the Map
During a visit to Mexico to participate in the celebration of the 4th anniversary of BNP Paribas’ corporate banking operations in the country, he detailed that the interest Mexico has sparked abroad comes from multinationals of all kinds, including manufacturers, developers, infrastructure funds, and private equity firms.
He emphasized that all the companies trying to enter Mexico to take advantage of nearshoring are seeking compliance with ESG principles (Environmental, Social, and Governance). This means they consider projects that are non-polluting, beneficial to society, and ensure that companies have proper structures and processes in their administrative management.
Source: https://www.industrialnewsbc.com/2024/05/09/se-posiciona-mexico-como-primera-opcion-de-inversionistas-por-nearshoring/
#TeamSensata in Mexicali recently held a clothing drive to benefit CAVIM, a domestic violence care center, helping women and children who are victims of domestic violence. More than 40 of CAVIM’s clients will benefit from the clothing donations made and we look forward to continued partnership with local organizations like CAVIM to benefit the communities we live and work in. #GivingBack #SensataServes
Celebrating the strength, passion, and talent of all women on this day #internationalwomensday #PIMSAfamily
