Mexico is the 20th largest exporter of textile and apparel products globally. Over the last five years, Mexico’s total textile and apparel exports declined at a CAGR of -2% to touch $6.43 billion in 2017, while imports have increased at a CAGR of 1% to reach $10.2 billion. It remained the 18th largest importer of T&A products globally, and its textile and apparel trade deficit was $3.79 billion in 2017.
Man-made textiles is the largest imported category by Mexico, representing 38% of its total textile and apparel imports (2017). This is followed by apparel and cotton textiles with a share of 33% and 12% respectively. Top 10 suppliers accounted for ~82% of textile and apparel imports by Mexico. The US is the largest supplier accounting for a 39% share, followed by China and India with a share of 27% and 3%, respectively. In terms of y-o-y exports to Mexico, exports of all countries, excluding the US and India, have grown. India’s exports to Mexico declined at -5% y-o-y.
India was the third largest supplier of textile and apparel products to Mexico in 2017. Its exports of T&A to Mexico stood at $0.32 billion in 2017. In fact, India’s exports witnessed an increases of 2% over the last five years.
Apparel is the largest category with a share of 55% in India’s T&A exports to Mexico. This is followed by man-made textiles and cotton textiles having share of 25% and 14% respectively.
Mexico is one of the major markets for apparel, man-made and cotton textiles. However, India’ share in this market is only 3%. Owing to availability of raw material and infrastructure, Indian firms have a potential to increase their market share in all the categories.
By Wazir Adivsors
