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Mexico Textiles and Clothing Report Q4 2009Published by: Business Monitor International Published: Oct. 14, 2009 - 44 Pages Table of Contents
AbstractMexico is a major textile and clothing (T&C) producer, with an industry based on competitive labourcosts and geographic proximity to the US, one of the world’s largest consumer markets. Despite thecountry’s close integration with the US and Canada through the North American Free Trade Agreement(NAFTA), the T&C sector has been facing an increasingly strong competitive challenge from China andother Asian producers. China has displaced Mexico to become the number one source of clothing importsinto the US. BMI ranks Mexico as number 26 in the world in terms of T&C manufacturing value added.In nominal terms we estimate that to have been worth US$11.26bn in 2008. Marked by an unusually deepUS recession and relentless competition from Asia, 2009 and 2010 will be hard for the Mexican T&Cindustry. However, this may cause companies to focus on niche markets where closeness to US customerscan be made to count in their favour.Overall, Mexico’s T&C value added will fall by 16.6% in 2009 and by 2.3% in 2010, reflecting verydifficult international economic conditions. We see a moderate recovery setting in from 2011, withgrowth of 2.8%. The industry’s trade performance will also reflect the especially difficult internationaleconomic situation. Total T&C exports will contract by 24.4% to US$5.97bn, while imports will fall by29.0% to US$6.32bn. The country will have a T&C trade deficit of US$356mn, narrower than in 2008. Get Full Details About This Report >> |
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