Italy and Mexico are significantly strengthening their trade and investment relations , which has led to notable growth in the exchange of goods and services between both countries in recent years, according to the Italian ambassador to Mexico, Alessandro Modiano.
The diplomat highlighted that there is a growing demand for Italian products in Mexico , including industrial machinery, cosmetics, pharmaceuticals and fashion.
“Trade exchange between Mexico and Italy reached nine billion dollars last year,” explained the Italian ambassador.
In contrast, Mexican exports to Italy totaled just over a billion dollars , indicating an area of opportunity to strengthen the flow of Mexican products to the European country.
For her part, Olga Gravela, director of the Italian Agency for Foreign Trade in Mexico City, pointed out that the Italian machinery sector represents 33% of exports to Mexico , while total exports from Italy to Mexico in 2023 They were seven thousand 980 million euros.
“Mexico is a very important market for us,” said Gravela.
According to data from the National Institute of Statistics and Geography (Inegi) , in April 2024, exports from Mexico to Italy were 119 million dollars , while imports reached 931 million dollars.
The cosmetic sector is also a prominent area within Italian exports. In 2023, Italy exported more than seven billion euros in cosmetic products , with a significant increase in recent decades.
“Italy is characterized by a high level of research and innovation, using high quality raw materials. Mexico ranks 19th among the destination countries for our cosmetic products, but it is number one in Latin America,” Modiano said.
According to the ambassador, the Italian cosmetics industry not only focuses on quality , but also on sustainability. All production in recent years in Italy is focusing on producing sustainably.
According to data from the Mexican Ministry of Economy , in 2023, the main sale from Mexico to Italy was machines and data processing units . The main origins of sales to Italy were Mexico City, Nuevo León and Jalisco.
On the other hand, the main purchase from Mexico to Italy was parts and accessories of motor vehicles , with the main destinations being Mexico City, Nuevo León and the State of Mexico.
Likewise, in the period from January to March 2024 , foreign direct investment (FDI) from Italy to Mexico was less than 30 million dollars. The states that received the greatest FDI from Italy were Coahuila de Zaragoza, Chihuahua and Quintana Roo.
In April 2024 , international sales from Mexico to Italy were 81 million 400 thousand dollars, while international purchases reached 928 million dollars, resulting in a trade balance of less 846 million dollars.
The collaboration between Italy and Mexico continues a positive trend , with ample opportunities for both countries in various sectors. The synergy between industries and investments promises a prosperous and mutually beneficial future.
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