Tag Archives: remittances

Recent and upcoming investment in Mexico

May 3, 2021Energy, Investment, Manufacturingbanks, chemicals, construction matierials, COVID-19, e-commerce, Electronics, food & beverage, Food processing, industrial gas, Logistics, Manufacturing, medicinal oxygen, packaging, remittances, Wind powerTom

Information collected from media reports over the last month:

COVID-19

The epidemiological conditions regarding the COVID-19 pandemic in Mexico continue to improve slowly but steadily. According to the most recent version of the national traffic light system used to indicate the level of alert and restrictions on business activities and mobility, six Mexican states are now at green, or no restrictions, while 20 are at yellow or low restriction. Mexico City remains at orange, denoting a relatively high rate of alert, however the city appears to be operating fairly normally albeit with widespread mask use and social distancing. Approximately 10% of Mexicans have received at least one vaccination shot, compared with over 40% in the United States. Continue reading Recent and upcoming investment in Mexico →

Recent and upcoming investment in Mexico

March 2, 2021Economy, Energy, Investment, Manufacturing, PoliticsAMLO, cement, commercial real estate, COVID-19, Energy, funeral homes, industrial parks, Manufacturing, petroleum, pharmaceutical, railroad, remittances, Retail, retail sales, videogamesTom

COVID-19

Mexico’s COVID-19 indicators have generally improved over the past month. The number of new cases per day has declined steadily compared to January, and the national rate of hospital bed occupation is down to 40%. Bed occupation is higher in the Mexico City area at 60%, however this is an improvement over the peaks of 90% reached in January. Mexico’s vaccination campaign is gaining speed after a poorly executed launch, however the number of vaccinations administered lags behind the average rate of most developed countries. (Data taken from Citibanamex Monitoreo de COVID-19, February 25, 2021)

ECONOMY AND INDUSTRY

Retail sales in Mexico contracted 9.3% in 2020 with respect to the previous year, reaching their lowest level since 2014, according to data from the National Statistics Institute (INEGI). The only subsectors posting positive growth were online and catalog sales (52%) and health-related products (6%). (El Economista, February 25, 2021)
Mexico’s construction industry was hit hard by the economic slowdown in 2020, contracting 17.5% on the year, according to data from the National Statistics Institute (INEGI). The drop-off is the steepest for the industry since 1995. (Reforma, February 12, 2021)
Remittances from abroad to Mexico represented 3.8% of the country’s GDP in 2020, a record high. The total value of remittances to Mexico grew by over 10% last year with respect to the previous year. (El Economista, February 1, 2021)

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Slow December as restrictions tighten

January 13, 2021Economy, Energy, Investment, Servicesfuel storage, Logistics, meat processing, natural gas, petrochemicals, remittances, TelecommunicationsTom

Mexico City returned to red last month on the epidemiological traffic light system, indicating saturation of hospital beds and the highest degree of restrictions on business activity and movement. The rate of increase in cases of COVID-19 is uneven across the country’s 32 states however overall the spread of the virus continues to increase rather than to decrease. Despite this, many coastal tourism zones remain in operation and received a substantial number of visitors from within Mexico as well as from the United States during the year-end holiday period. Mexico has begun to receive and distribute the U.S.-developed Pfizer-BioNTech vaccine, and plans to begin importing the Chinese CanSino vaccine in January. Continue reading Slow December as restrictions tighten →