As reported yesterday, SACE participates in the mission promoted by the Ministry of Foreign Affairs in Mexico and confirms the commitment a support Italian companies in one of the most promising export markets of the Bel Paeseboth in the short and medium-long term. SACE, which in 2013 was the first European export credit company to open a representative office in the country, today counts on a portfolio of commitments of €1,2 billion (second only to Brazil for exposure in the region). Mexico is one of the high-potential markets towards which to favor the strengthening of investment flows over the next three years.
It contributes to the country's positive outlook liberalization plan launched last year in a number of strategic sectors, to diversify the economy and strengthen industrial development, together with a GDP growth trend that ended 2014 at +2,2% with positive prospects for the years to come as well. As reported by Atradius, the new investment program of approximately $415 billion (5,7% of GDP) includes the implementation of more than 1.000 projects in the water, energy, transport and urban development sectors. And after three consecutive quarters, the construction sector recorded a significant improvement in the last quarter of 2014, with growth of 2%, driven in public and non-residential construction by the recent reforms in the energy and telecommunications sectors. They also were allocated 95 billion for housing and urban development, including grants for the renovation of existing buildings. Against this background, analysts predict a dynamic driven by small and medium-sized enterprises, benefiting from a strong market position following the bankruptcy of some large companies in 2013. On average, payments in the construction sector still take 45 to 120 days, with a rather common slowness especially in the case of public infrastructure. In 2015 Mexican construction is expected to grow by 4%, however, an acceleration of payments becomes more necessary than ever. Taking these uncertainties into account carefully, the construction industry could once again face significant challenges.
As for exports, Italian sales in Mexico, currently equal to around 3,3 billion euros, are mainly concentrated in the sectors of instrumental mechanics (33% of total exports), metallurgy (14%) and means of transport (12%), with a further growth potential of 1,7 billion in the next two years. The best opportunities are expected above all from automotive components (driven by US demand), renewable energies and the exploitation of offshore fields.
