Looking for an easy way to ship your cargo to Mexico? Choose the best freight forwarder to transport your goods to Mexico safely and on time.
Exporting goods to Mexico, whether it is for the first time, or on a regular basis, can be a challenging experience.
There are many elements to consider when shipping to a country such as Mexico. If you are in Canada or the US and not entirely familiar with the Latin American market, you should consider a cargo shipping company that knows the business culture, the language, the customs regulations and has a proven track record of success when it comes to freight shipping to Mexico.
WHAT CAN YOU EXPECT IN MEXICO?
Regulations in Mexico are not only very different from the ones in the US or Canada, communication methods and business etiquette are also very distinct: ● Corporate culture in Mexico is relationship-driven. Mexicans value trust, honor & camaraderie. They attach great importance to developing personal relationships rather than formal business connections which is the norm in the US or Canada. Therefore, it is important to develop easy going business “friendships” as Mexicans may be more loyal to you personally rather than to the company you represent. Third-party contacts are also a key to business success in Mexico. An established person vouching for you and presenting your company will help you gain trust in the market. ● Flexibility and spontaneity are also common traits of Mexicans. In Mexico, there is a less strict sense of time than in US and Canada. ● It is also important to consider the language as a possible barrier. Although most highly-educated business executives speak English fluently, the average person speaks only Spanish.
QUICK FACTS ABOUT MEXICO (2018)
- Capital: Mexico City
- Other Large Cities: Guadalajara, Monterrey, Puebla, Toluca, León, Tijuana, Juárez, Mérida
- Population: 126,190,788 (Urban Population: 80.2%)
- Official languages: Spanish
- Time Zone: GMT - 5
- Currency: Mexican Peso (MXN)
ECONOMIC SNAPSHOT ( Source: IMF - World Bank, 2018)
- GDP: 1,222.05 billion USD (GDP Growth: 2,1 % / GDP per capita: 9,797 USD)
- Inflation Rate: 4.9%
- Unemployment Rate: 3.5%
- Total Imports of Goods: 476,55 billion USD
- FDI Inward Flow: 37.50 billion USD (3,1% of GDP)
- Ease of Doing Business Score: 54th / 190
WHY DOING BUSINESS WITH MEXICO IS THE RIGHT DECISION
As one of the most important trade partners to the USA, Mexico is a growing economy full of business opportunities for companies looking to expand Internationally. Many assembly plants called maquiladoras located along the Mexico US border, receive raw materials to assemble goods that are then exported mostly to the US as finished products. This has contributed to a sharp upswing in Mexico’s economy and a dynamic impact on its global supply chain. The need for shipping cargo to and from Mexico has been increasing tremendously through the years. The border state of Sonora and its capital Hermosillo is a frequent shipping destination of raw materials transported from countries like China, Korea and the US to be used in the production of various end products to serve different industries. Our experienced professionals are very familiar with the market requirements in Mexico which is very important to avoid delays during the importation process. We provide you with all the necessary tools to break into the Mexican market, headache free. With LAC by your side, you will reinforce your company’s cargo shipping capability.
MEXICO TRADE OVERVIEW
- MAIN IMPORTS: Crude Oil & Petrochemicals, Vehicles Parts & Accessories, Electronic Parts, Electrical machinery, Electrical equipment, Consumer goods, Food & Beverage.
- MAIN EXPORTS: Personal and Professional Vehicles, Vehicles Parts & Accessories, Electrical Machinery, Oil, Electronic Equipment, Telecommunication Equipment, Medical Equipment.
- INDUSTRIES WITH STRONG BUSINESS OPPORTUNITIES: Transport infrastructures, Manufacturing, Construction, Healthcare, Biotechnology, Traditional and Renewable Energy, Retail and consumer goods.
- PRINCIPAL TRADING PARTNERS: USA, Canada, China, Brazil, Colombia, Europe (Germany, Netherlands, United Kingdom, Italy), Japan, South Korea, Malaysia, Thailand.