Exports, manufacturing boost Mexico's economic recovery

15:08, June 23, 2010      

Email | Print | Subscribe | Comments | Forum 

Mexico's exports and manufacturing industry gained momentum in the last six months, giving the country's economy a lift.

Mexico's National Statistics Agency (NSA) reported this week the country's exports registered a year-on-year growth of 23.6 percent in the first quarter, up from 7.3 percent a quarter earlier.

In response, Banamex, Mexico's second largest bank, commented that "the rapid expansion of auto sales overseas and growth in manufacturing are pushing export growth."

The most significant manufacturing growth was registered in the production of cars and trucks, which was completely pushed by U.S. demand.

There are also signs of recovery in maquilas, the country's small factories that import raw materials or semi-finished goods and export consumer goods to the United States.

"The auto sector is showing growing exports and production," Carlos Gonzalez Martinez, chief economist at Scotiabank Inverlat, told Xinhua, adding that "maquila employment is also showing a small recovery over the last two or three months."

The Mexican Auto Industry Association reported this month that auto production surged 65.3 percent in May compared with a year earlier, while exports increased 73.9 percent.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
  • A visitor passes by in the exhibition of Istanbul design week on Sept. 28, 2011 in Istanbul, Turkey. Istanbul design week will be hosting designers and design exhibitions from around the world in Istanbul from Sept 28 to Oct 2 with the participation of 25 countries. (Xinhua/Ma yan)
  • Red flag flies at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 28, 2011. A spokesperson with China's manned space program said Wednesday that fuel has been injected into the Long March-2FT1 carrier rocket in preparation for launching the Tiangong-1 space module Thursday evening as planned. (Xinhua/Wang Jianmin)
  • A militant loyal to the Libyan National Transitional Council (NTC) waves in a tank near Bani Walid, one of the pro-Muammar Gaddafi strongholds, on Sept. 28, 2011. (Xinhua/Hamza Turkia)
  • Jewish worshippers pray at the Western Wall, Judaism's holiest prayer site, in Jerusalem's Old City on Sept. 28, 2011, ahead of Rosh Hashanah, the two-day Jewish new year which will begin at sunset on Sept. 28 and conclude at nightfall on Sept. 30. (Xinhua/Muammar Awad)
  • High school student Johanna Choapa is helped by her father after announcing the end of hunger strike in Santiago, capital of Chile, on Sept. 28, 2011. The end of the strike took place to make way for a dialogue with the government, seeking to resolve the four-month crisis in the education sector. (Xinhua/Jorge Villegas)
Hot Forum Discussion