Mexico appears to be the 14th largest market in the world and second in Latin America (after Brazil), besides being considered a major destination of investment for foreigners in the American continent. The country, considered by many analysts as one of the most interesting from an economic, geopolitical and strategic point of view plays an increasingly important role in global scenario. Currently, according to rankings compiled World Trade Organization, Mexico ranks at the 16th place for exports and on the 14th for and imports.
Among the diverse and numerous opportunities to be reported in the Mexican market, the machine tool industry presents really interesting figures. According to data provided by the ICEX (Institute for Trade Spanish Abroad), the turnover of the sector is just over one billion Euro, placing it at the 10th place globally for the consumption of machines and on the 7th for imports. The domestic production and exports however are confined to the 24th and the 26th position. The consequence of low domestic production is that in Mexico more 90% of demand is imported.
The United States is the main exporter to Mexico for sector (28% of imports come from North America), followed by Germany, Japan, Italy (in general, our country also ranks in the top ten exporting countries) and China. Two different types of demands can be differentiated: the first, quality, requiring machinery able to deliver excellent performance and technology and that is dominated by first four countries, and the other in which the price of the products is lower, is in the hands of the Asian giant. Among the major sectors using machine tools those of automotive industry and its components, aeronautics and household appliances are experiencing substantial growth attracting much foreign investment.