Mexico's manufacturing industry is one of the largest and most dynamic in the world. It has experienced significant growth over the past few decades, driven by a combination of factors such as a strategic location, trade agreements, a young workforce, and an abundance of natural resources.
In terms of size, Mexico is the 15th largest economy in the world and the second-largest in Latin America, after Brazil. The country's manufacturing sector accounts for approximately 17% of its gross domestic product (GDP) and employs over 4 million people.
Mexico's manufacturing industry is highly diversified and includes a range of sectors such as automotive, aerospace, electronics, medical devices, and textiles. The country is particularly well-known for its automotive industry, which is the seventh largest in the world and accounts for over 3% of global vehicle production.
There Are Several Advantages to Mexico's Manufacturing Industry Compared to Other Countries
Mexico's manufacturing industry has several advantages over other countries, including its strategic location. It shares a border with the United States, which is the world's largest economy, and has easy access to other major markets such as Canada and South America. This has made Mexico an attractive location for companies looking to establish manufacturing operations in the Americas.
Another advantage of Mexico's manufacturing industry is its highly skilled workforce. The country has a large pool of young, educated, and trained workers who are eager to work in the manufacturing sector. This has helped to attract many multinational companies to set up manufacturing operations in the country.
Mexico's Manufacturing Industry Benefits From Free Trade Agreements
Mexico also has a range of free trade agreements with other countries, including the United States, Canada, and the European Union. These agreements have helped to boost trade and investment in the country's manufacturing sector, as well as to provide access to new markets and technology.
In conclusion, Mexico's manufacturing industry is highly competitive and compares favorably to other countries. Its strategic location, highly skilled workforce, and free trade agreements have helped to make it an attractive location for companies looking to establish manufacturing operations in the Americas.
As a manufacturer in Mexico, NovaLink employs a unique approach that transcends the traditional model of shelter production. More than just the location of your manufacturing, we would like to become a partner in your manufacturing in Mexico. You will be able to relocate or initiate manufacturing for your company in Mexico in a low-cost labor environment with very little delay or up-front costs. Find out how we can help you by handling the manufacturing process.
There are NovaLink facilities in the border cities of Brownsville, Texas, Matamoros, Mexico, and Saltillo, Mexico.