Country Report - Mexico

Country Report - Mexico
Product Code: GEPMCR17
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In addition to a large domestic market Mexico’s lower costs and close proximity to the US has made it a preferred location for low-cost manufacturing not only for companies from the US and Canada but also Asia and Europe. With the US the main export market the Mexican electronics industry is closely linked to developments in the country and in particular for high volume products including PCs, mobile phones and LCD TVs. After increasing by 7.0% in 2017 electronics output accelerated to 10.8% in 2018 primarily as a result of robust growth in computing and medical electronics but eased to 2.7% in 2019. Computers and peripherals accounted for 54.4% of electronics output in 2019, the sector posting growth of 7.4% on the back of stronger exports to the US and key trading partners. A decline in exports to the key US market over the course of the first six months of 2020 combined with the broader impact of COVID-19 both domestically and internationally is forecast to lead to a 3.5% decline in output for the year as a whole. The production of LCD TVs accounted for 18.5% of electronics output in 2019 production declining by 2.6% and compared a fall of 3.7% in the prior year. A further decline of 5.2% is forecast in 2020 as the pandemic lowers demand. The vast majority of production is destined for the US market. The country home to a number of the world’s leading consumer electronics groups including the South Korean company Samsung Electronics and China’s Hisense. Foxconn, which acquired Sony’s Mexican TV manufacturing operations is also a leading player.

Table of Contents

Background
Economic Overview
Industry Structure
Production Data 2017-2020
Market Data 2017-2023
Methodologies/Guide to Statistics

Product Coverage

Computing
Office Equipment
Control & Instrumentation
Medical & Industrial
Radio Communications
Telecommunications
Consumer
Semiconductors
Passive Components
Other Components

The Mexican Electronics Industry Report provides essential market intelligence for all sizes of company from small enterprises to major global groups and for financial/management consultancies, government agencies and academia requiring a reliable overview of the electronics industry in Mexico.

Last Update: August 2020

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