With a USD 2.3 billion economy, a sustained economic growth and financial solvency, over the past few years Mexico has shown constant levels of the main macroeconomic indexes. Despite the good data, Mexico is going through a difficult situation due to the drop of the oil prices and production, the depreciation of the Mexican peso, the slowdown of the global economy and the uncertainty of the new protectionist policies announced by Donald Trump in the USA.

Regarding the bilateral relations with Spain, Mexico is one of the priority countries, as it was reflected in the Integral Market Development Plans (PIDM). Specially with the launching in 2000 of the EU-Mexico Trade agreement, which has contributed to the rise in the commercial exchanges between both countries. As a matter of fact, the result of these relations has been positive for Spain, going from a commercial deficit of 2,459 million euros in 2012, to a 774 million surplus in 2016.

Spain gained 4,100 million euros in exportations in 2016, a figure that has grown during the last four years, and in 2012 was around 3,271 million. Spanish exports are 95% diversified in four sectors: equipment goods (36%), semi-manufactures (23%), automotive industry (18%) and consumption manufactures (18%), according to a report developed by the International Relations department of the CEOE.

Meanwhile, importations were in a decreasing trend: in 2012 they reached the 5,731 million euros, while in 2016 they were of 3,326 million euros, a 41.97% decrease. Importations are 65% focused in one sector: energy products.

Another indicator is whether the Spanish investments grew in Mexico. During 2014, Mexico was the fourth investment destination for Spain (28,935 million euros), following the United States (65,793 million), the United Kingdom (62,117 million), and Brazil (47,202 million). According to the Mexican Secretary of Economics, Spain was the second largest investor in Mexico, right behind the United States.

The main sectors that received investments in 2014 were: financial services, expect for insurance and pension funds (50%), electric energy, gas, vapor and air supply (8%), civil engineering (8%), and telecommunications (5%).

Source: El Empresario