Overview and Relevance
Querétaro, a Mexican state known for its thriving manufacturing sector, has experienced a 6.2% decline in transportation equipment exports during the first half of 2023. This sector, being Querétaro’s primary exporter, contributed 49% to the state’s total exports, which amounted to $8,673 million.
Export Performance
Transportation Equipment: In the first six months, transportation equipment exports totaled $4,251.8 million, marking a 6.2% annual decrease according to the Mexican National Institute of Statistics and Geography (Inegi).
- First Quarter Decline: The drop was primarily influenced by a 12% annual decrease in the first quarter. However, the second quarter saw a slight improvement with a -0.5% annual variation.
- Trade Uncertainty: This decline occurs amidst the trade-related uncertainties between the United States and Mexico.
Other Sectors’ Performance
Besides transportation equipment, several other sectors also reported annual declines in their exports:
- Printing and Related Industries: Down by 34.6% in the first half of 2023 compared to the same period in 2022.
- Beverages and Tobacco: Experienced a 30% decrease.
- Machinery and Equipment Manufacturing: Reported a 23.1% decline.
- Agriculture: Faced a 13.3% reduction.
- Paper Industry: Declined by 12.4%.
- Chemical Industry: Experienced a 12.2% decrease.
- Accessories, Electrical Appliances, and Electricity Generation Equipment: Fell by 11.6%.
- Computing and Electronic Equipment: Declined by 4%.
- Clothing Manufacturing: Experienced a 2.1% decrease.
Growing Sectors
Despite the overall decline, some sectors witnessed growth in their exports:
- Textile Products (excluding clothing): Experienced a remarkable 72.5% increase.
- Metallic Products Manufacturing: Grew by 33.6%.
- Non-metallic Mineral Products Manufacturing: Increased by 28.7%.
- Food Industry: Experienced a 9.6% growth.
- Plastic and Rubber Industries: Grew by 2.1%.
- Manufacturing Industries (overall): Experienced a 133.5% increase.
Key Export Contributors
The major contributors to the exported value between January and June are:
- Transportation Equipment: Accounted for 49% of total exports.
- Accessories, Electrical Appliances, and Electricity Generation Equipment: Represented 13.4%.
- Machinery and Equipment Manufacturing: Contributed 9%.
Key Questions and Answers
- What is the main issue discussed in this article? The primary focus is the 6.2% decline in Querétaro’s transportation equipment exports during the first half of 2023.
- Which sectors besides transportation equipment reported declines? Printing and related industries, beverages and tobacco, machinery and equipment manufacturing, agriculture, paper industry, chemical industry, accessories and electrical appliances, computing and electronic equipment, and clothing manufacturing all reported annual declines.
- Which sectors experienced growth in their exports? Textile products (excluding clothing), metallic products manufacturing, non-metallic mineral products manufacturing, food industry, plastic and rubber industries, and overall manufacturing industries all witnessed growth.
- What factors contributed to the decline in transportation equipment exports? The main factors are the annual decrease of 12% in the first quarter and overall trade uncertainties between the United States and Mexico.
