NEWS

Welcome! You have entered "News Page" of  the Trade Commission of Mexico Website in Dallas, Texas.

Our main objective is to provide you with all the information needed to make a successful relationship with Mexican providers of products and services.

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You will find vast information about Mexico as well as links to other sites such as, all Mexican Trade Commission offices around the world,  government institutions, and private companies that will provide you with different aspects of our economy and business environment.

Always remember that, if you do not find the specific information you are seeking, or you are looking to make contact with Mexican exporters of products and/or services, you can call on us by Email at our "Contact Us" page. We will reply very quickly. Why not check our staff page and see who can be your personal contact at Bancomext?

We invite you to visit the presidential web page www.presidencia.gob.mx/  and also www.precisa.gob.mx/ for any information you need to know about Mexico.

You can now download your visa application from the Consulate General
of Mexico in Dallas by visiting: http://www.consulmexdallas.com/visas.html

ECONOMIC STATISTICS OF MEXICO: This is brief information about the most important economic and financial aspects of the Mexican economy.

GNP: The 2001 Mexican Gross National Product growth was -0.2%.  

The estimated growth for 2002 is estimated to be 1.9%, in accordance with the estimates given by SHCP and The Central Bank of México.

The growth for the second quarter of the year 2002 was 0%.

Exports:
The total amount of exports in 2001 was 158,442.9 M USD.

In January 2002 exports amounted to US$12.8 billion, an  increase of  12% with respect to January 2001.
February 2002 :  US$12.6 billlion, an estimated growth of 3.2% with respect to the same month in 2001. 

Imports  

In January 2001 imports reached  US$13.9 billion, an increase of 17.8% over the same month in 2000.

Total imports for 2001 were $168,396.5 USD.

The behavior of 2002 is:

Total trade between Mexico and the U.S. was US$ 232 billion in 2001, with U.S.  exports at  US$101.5 billion,  and Mexico exported US$131.4 to the U.S.                                                                                      

There were no increases in NAFTA tariffs in the annual governmental
budget negotiations.    A tariff raise was applied to those countries with
which Mexico does not have a free trade agreement, in order to make up
the shortfall.

Inflation: In 2001 the inflation rate was 4.5%. The estimated inflation for 2002 is 4.5%. The inflation to June, 2002 is 2.98%.

Peso Dollar Parity:  On July 30, 2002, the peso-dollar parity was $9.88 pesos per dollar.
2002 Forecast: $10.10 pesos per dollar.

Interest Rates:  On , July 30, 2002, the interest rate was 6.71% (Cetes 28 days/Treasury Bills at 28 days.) 

Foreign Direct  Investment: Reached for the first quarter of 2002 was $2,726 US Dollars.

Reserves: On July 26, 2002, were US$ 43.259 billions.

Other Economic Objectives for 2002:
Health and Education: 62% of the budget
Unemployment: 3%
Minimum Wage: US$ 4.5 per day (at $9.77pesos per dollar)

Sources: Secretaria de Economía; Secretaria de Comercio y Fomento Industrial; Instituto Nacional de Estadística, Geografía e Informática.

Other News:

Mexico condemns any act of violence or terrorism in the world. The Mexican people and its government declaim the cowardly attacks to the city of New York and the U.S. capital, and deeply regret the consequent loss of human life it ensued. It was not just an attack on the U.S., but to the freedom of all civilized nations on Earth.

Mexico reached an agreement with the European Economic Community   enacted on July 1st., 2000, as well as Israel, and EFTA (Switzerland, Norway, Iceland, and Lichtentein) in November 2000.

Texas total exports to Mexico in 2000 were estimated at  US$57.1 billion, accounting for 47% of the state's total exports.  Mexican exports to Texas for the same period were estimated at US$45 billion, one third of Mexican total exports to the U.S.  Mexico continues to be the state's most important customer. Texas is the largest U.S. state in exports to Mexico.                Export estimates from Texas to Mexico for 2001 were expected to reach US$57 billion, and Mexican exports to Texas for the same period were expected to be US$49 billion, again representing one third of Mexican total exports to the U.S..

Over US$248 billion dollars worth of trade between the U.S. and Mexico were reported for 2000, as expected.

Mexico is the second largest trading partner for the United States as an importer and exporter.  This impending jump in trade rank for Mexico is the latest example of NAFTA's remarkable contribution to Mexico-U.S. trade.

The numbers speak for themselves. Trade among the three countries has grown by 96% since the agreement came into force. From less than US$289 billion in 1993, our trilateral trade has now surpassed US$670 billion. Investment among our three economies has also increased significantly, with more than US$330 billion invested in each other's economies in 2000. Total foreign direct investment into the NAFTA countries meanwhile has reached US$864 billion. Most importantly, job creation has surged in all three NAFTA countries.  Per every US$1 billion dollar in exports, over 18,000 new jobs are ceated in the U.S., according to the U.S. Department of Labor.

Mexico through SHCP and the United States through the IRS have reached an agreement to avoid double taxation on profits generated by the maquila industry. The announced 32% tax on profits generated by the maquiladoras will no longer stand. Instead a 6.9% tax on productive assets owned by foreigners and the maquiladoras will be imposed (it was 5% before).This new increase is tax deductible in the country of origin,  thus not being an additional load.

Mexico also reached a Free Trade Agreement with Guatemala, Honduras and El Salvador (as a group) on May 11, 2000, which was passed to the senate for approval and exacted effective  January 1st., 2001. Mexico has now signed free trade agreements with over 31 countries.

The World Bank annnounced that it will extend a line of credit of $11 billion to Mexico, with a recommendation to President Fox's administration for growth acceleration and competitiveness, macroeconomic programs consolidation, and poverty reduction. 

Also, the Interamerican Development Bank announced that it will add another US$ 1.2 billion line of credit to Mexico, reiterating its confidence in the country's continued transparency process in the public and private sectors.

Grupo Financiero Banamex-Accival (Banacci) and Citigroup announced to have reached an agreement that will integrate all direct and indirect Banacci's subsidiaries with Citigroup's global operations, for a total transaction of  US$12.5 billion.

MAQUILADORA AND PITEX PROGRAMS
These programs have evolved from the original in-bond concept to encompass a broad package of export promotion incentives and to comply with international agreements.  PITEX allows temporary production of goods for export by companies that comply with all of the Mexican taxation laws.   PITEX supports export-oriented industry through duty exemptions for imports used to create exported products.  Goods can also be shifted to the local market by paying duties and taxes as in the maquiladora program.  Mexico extends similar benefits under related export promotion programs known as ALTEX and ECEX.  As a footnote, it is important to remember that all raw materials originating from any of the three NAFTA countries pay no duties.  But all raw materials originating from any other country, will pay a differential from the country that comes in, to the country that goes out.

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