One of the most famous Mexican national holidays, “Cinco De Mayo”, a holiday to observe the Mexican’s Army victory over France in 1862, is tomorrow. The 5th of May has also become a popular celebration in the United States as we celebrate Mexican-American culture through food, dancing, music, etc. With more than 120 million people, Mexico is one of the United States’ largest trading partners; however, U.S. businesses continue to focus on the domestic market and don’t take advantage of Mexico’s proximity and its increase in purchasing power. Below are some of the top Mexican industries that U.S. businesses can take advantage of as they begin to explore opportunities abroad.
The U.S. Commercial Service should be one of the first stops a U.S. business makes when planning their first export move because they have industry knowledge and relationships with distributors and prospects abroad that can be potential customers. The U.S. Commercial Service also provides information on important trade events in Mexico every years as well as information on customs, podcasts about trade opportunities and best practices on how to do business in Mexico. Three Mexican industry leading sectors are:
- Automotive Parts and Supplies
The automotive sector is one of Mexico’s manufacturing staples and is a top generator for Mexico’s economy. EXIM will be conducting a webinar in June with an automotive trade publication. Please contact Suhail Beg if you’re interested in attending: Suhail.email@example.com.
- Medical Devices
This is a growing sector for Mexico especially in the medical IT space. According to the U.S. Commercial Services, 30% of Mexican imports of medical equipment, instruments, and dental products come from the United States.
The Mexican franchising industry is the 5th largest franchising market in the world. About 13,000 franchising brands are U.S. based, and given the commercial ties between the two countries, there is a high level of recognition and acceptance for U.S. brands by Mexican consumers.
Other Mexican industries that are growing include: agribusiness, education and training services, energy, environmental technologies, housing and construction, internet and IT services, packaging equipment, plastic materials, security and safety equipment, telecommunications equipment, transportation infrastructure equipment and travel and tourism services.
The U.S. Commercial Service will provide support to U.S. small businesses by finding the best prospects in Mexico who would be interested in purchasing their products or services. EXIM Bank provides financing solutions to help your business increase foreign sales to Mexico while mitigating the risk when doing international transactions. To learn more on how you can increase your exports to Mexico, fill out the form below to speak to your local EXIM rep: