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Mexico - Comparative Advantage
Transcript of Mexico - Comparative Advantage
THREE BUSINESSES FOUNDED OR INCORPORATED IN MEXICO
MAJOR INVENTIONS AND INNOVATIONS
ADVANTAGES THAT GIVE
MEXICO A COMPETITIVE EDGE
Mexico is a member of the North America Free Trade Agreement
Mexico offers important savings in labor force costs.
For exports, only five procedural documents are required. This gives Mexico an advantage over countries like Brazil, the People's Republic of China, and India where more documents are required.
Mexico shares a border with the United States (3,000 km); has quick access to the European market through the Atlantic Ocean and the Asian market through the Pacific Ocean.
Mexico has many natural resources that favor the development of a vast number of the production activities.
Mexico has a long tradition of mining production which plays a significant position in the economic activity of Mexico, especially in the industrial sector.
Mexico is globally renewed for its mineral production, particularly silver, copper, bismuth, arsenic, lead, and zinc.
COMPETITIVE ADVANTAGES AND CANADIAN BUSINESSES
Hourly wages in Mexico in dollar terms are now 40 per cent lower than in China making it better for Canadian firms to build a plant or source exports, also there is less travel involved which decreases the cost of the products.
Natural resources found
Mexico does not have any natural resources that are only found there but they do have many resources which can be found in a large quantity. For example petroleum, it is the most valued natural resource in Mexico. Mexico currently pumps 3.46 million barrels of crude oil each day. The petroleum has made 33 percent of the government’s income and 20 percent of exports in 2011. Also, Mexico is covered with a large range of forests about one-fourth of the nation is covered by forests, giving Mexico some of the largest remaining forest reserves. Other resources which are found of a high quality in Mexico include silver, copper, lead and zinc.
Products or services Mexico
is know for
large facilities of auto parts and vehicles