• Mexico

Overview

Mexico, officially the United Mexican States (Estados Unidos Mexicanos), is a federal republic in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatemala, Belize, and the Caribbean Sea; and to the east by the Gulf of Mexico. Covering almost two million square kilometers (over 760,000 sq mi), the nation is the sixth largest country in the Americas by total area and the 13th largest independent state in the world.

The electronics industry has grown enormously within the last decade. The country has the sixth largest electronics industry in the world after China, United States, Japan, South Korea, and Taiwan. Mexico is the second largest exporter of electronics to the United States. The Mexican electronics industry is dominated by the manufacture and OEM design of televisions, displays, computers, mobile phones, circuit boards, semiconductors, electronic appliances, communications equipment and LCD modules. The electronics industry represent 30% of Mexico’s exports.

The nation produces the most automobiles of any North American nation. The industry produces technologically complex components and also engages in some research and development activities. General Motors, Ford and Chrysler have been operating in Mexico since the 1930s, while Volkswagen and Nissan built their plants in the 1960s. In Puebla alone, 70 industrial part-makers cluster around Volkswagen. In the 2010s expansion of the sector was surging. In 2014 alone, more than $10 billion in investment was committed. In September 2016 Kia motors opened a $1 billion factory in Nuevo León, with Audi also opening an assembling plant in Puebla the same year. BMW, Mercedes-Benz and Nissan have recently built new factories as well.

2019 Mexico Public Holidays

DateNational Holiday
January 1, 2019New Years Day
February 4, 2019Constitution Day
March 18, 2019Benito Juarez Day
April 18, 2019Holy Thursday *
April 19, 2019Good Friday *
May 1, 2019Labour Day
May 5, 2019Anniversary of the Battle of Puebla *
September 16, 2019Independence Day
October 12, 2019Columbus Day *
November 2, 2019All Souls’ Day *
November 18, 2019Revolution Day
December 12, 2019Lady of Guadalupe Day *
December 25, 2019Christmas Day

* While these are not official national holidays, they are widely observed throughout Mexico.

Previous Year: 2018

Fast Facts

  • Capital

    Mexico City

  • Population

    123,675,325 (2017 estimate)

  • Gross Domestic Product

    $2.315 trillion (2017 estimate)

  • Inflation Rate

    6.77% (December 2017)

  • Currency

    Mexican Peso (MXN)

  • Calling Country Code

    +52

  • Time Zone

    UTC -5:00 to -8:00 (observes Daylight Savings Time)

ITOS provides Payroll and Employer of Record (PEO) solutions in Mexico and throughout Latin America. As an international business alliance of service companies we offer fully integrated human resources and payroll solutions that promote collaboration, connectivity and communication throughout an organization.

We serve a variety of multinationals from all over the world in a wide range of industries. Our in country experts ensure your operations are compliant in each country so you can focus on growing the business.

Whether you are looking for better control, increased compliance, and standardized processes across the region or you are expanding to new markets in Mexico, ITOS welcomes you and would be pleased to serve you.