Mexico imports Chinese machinery worth US$54 billion

Mexico imports Chinese machinery worth US$54 billion

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MEXICO — Mexico bought more than US$54 billion of machinery and intermediate goods from China for the manufacturing industry, said the Mexico-China Chamber of Commerce.

These imports have an average annual growth of 3% to 5%, which reflects the interest of the Asian giant in the Mexican territory, said Jorge Morones, vice president of the Chamber. "China sells 11 times more than what Mexico sells," he said.

He added that 70% of imports are inputs, parts and components, as well as machinery used in the country's productive plant.

The balance of trade between the two nations in 2018, said the Chinese spokesman HomeLife, was US$83 billion US$673 million, with an annual growth of 3.48%.

Enrique Dussel Peters, specialist of the Center of Studies China-Mexico of the Faculty of Economy of the UNAM, exposed that Mexico could play a critical role in the tensions between U.S.A and China.

Mexico must play a proactive role to attract more Chinese investment and encourage Mexican exports to that market, because if it doesn’t, other countries will benefit from the demand and growing Chinese presence, he said.

Source: Notimex