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Aeronautical industry in Mexico is considered as the gold mine of the economy

Wednesday, 23rd of January 2019

With a proven resistance against economic ups and downs, Mexico's aviation industry has ahead of it a healthy growth potential at record levels, supported by the flow of travelers globally, say experts.

Despite its relative "youth ", the sector has registered sustained growth close to 15% in its exports, since records began in 2004, according to data from Federación Mexicana de la Industria Aeroespacial (Femia).

The general director of Femia, Luis Lizcano, estimated that 2018 could have closed at levels of US$8.5 billion in terms of shipments abroad and with a workforce of 60,000 people.

These numbers contrast with US$7.6 billion in 2017, when the booming sector employed 50,000 people. It also represents an explosive increase from US$1 billion in 2004.

Mexico has managed in less than a decade to consolidate a competitive structure in this sector," said Lizcano.

Mexico has more than 300 industrial facilities of a hundred international and local companies, which are concentrated in the states of Baja California, Sonora, Chihuahua, Nuevo León and, to a greater extent, in Querétaro.

80% of the aeronautical production is destined to the United States, country with which the transit of goods did not stop, even with the uncertainty associated with the modernization of the North American Free Trade Agreement (NAFTA), which culminated successfully last year.

Source: Mexico Now; https://mexico-now.com/index.php/article/5031-aeronautical-industry-in-mexico-is-considered-as-the-gold-mine-of-the-economy (29/01/19)

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