USMCA boosts aerospace industry by 10% per year

The free trade agreement between Mexico, the United States, and Canada (USMCA), had more positive than negative effects on the aerospace industry, so much so that thanks to this treaty, this group of companies is growing at an average annual rate of 10 percent, well above the national economy, according to data from the Mexican Federation of the Aerospace Industry (FEMIA).

Luis Lizcano, executive director of the group, explained that before the pandemic, the sector recorded average annual growth in exports of over 14 percent, with NAFTA (the agreement prior to the USMCA) being one of the main factors, but after 2020, it is an important driver.

“Only during the years of the health crisis did the industry show declines in activity, however, since 2023, there have been increases of over 10 percent in foreign sales,” he said.

“Without a doubt, access to the North American market (United States and Canada) is very important, and being part of a free trade agreement undoubtedly supports all processes,” said Lizcano.

The USMCA is currently undergoing a review process, in response to which the Ministry of Economy (SE) announced public consultations to gauge the feelings and assessments of all companies and sectors.

The idea behind this process is to find out from the private sector what the benefits of the agreement are and where it can be improved.

Luis Lizcano stated that it is very important to remain in the agreement in order to continue this positive relationship with allied countries.

Of the total aircraft parts we produce in Mexico, 80 percent are exported to the United States and Canada, while the remaining 20 percent go to various countries in Europe.

The aerospace industry in Mexico is dedicated to manufacturing parts that are exported to these countries and used to build the various aircraft on the market.