1. Foreign direct investment
Spain is the second country from which Mexico receives more foreign direct investment, only surpassed by the United States. From January to September of last year, 2,667 million dollars (mdd) from the Iberian country arrived in the country, which represented 10.7% of total FDI) in the period, according to data from the National Commission of Foreign Investments.
2. Companies
Companies with Spanish capital in Mexico exceed 6,500, a figure that represents 80% of the investments that Spanish companies make in Mexico, according to data from the Spanish Chamber of Commerce (Camescom) published by BBVA.
Spanish companies know of the potential of Mexico, due to issues such as location, potential, natural resources and population.
3. Financial services
Spanish banks play an important role in Mexico Two of the four largest financial institutions in the country are Spanish subsidiaries.
BBVA, the largest bank, has assets of 2.45 billion pesos and Santander, the second largest, has assets of 1.64 billion, according to data from the National Banking and Securities Commission (CNBV).
In total, the Mexican financial system has 11,078 billion pesos in assets.
4. Business relationship
In 2020, Mexico imported 3,741 million dollars from Spain. Among the products that were purchased the most are automotive parts and accessories; automobiles and medicines that consist of unmixed products, according to information from DataMéxico.
As for imports, Mexico sold 1,219 million dollars to Spain, being piston, rotary or alternative engines, parts for alternative combustion engines, rotary internal or compression ignition and automobiles the best sellers, according to DataMéxico.
In 2018, Mexico reported exports of more than 5.3 billion dollars (bdd) and purchases of 5.52 bdd from Spain, for a total trade that exceeded 10.8 bdd and a trade deficit of 216,776 million dollars (mdd), according to the consultation system of Statistical Information by country of the Ministry of Economy.
5. Tourism
Beyond the commercial relationship, hundreds of thousands of Spaniards seek and enjoy the tourist offer that Mexico offers them.
In 2021, the arrival of 221,225 Spanish tourists to Mexico was registered, 121.2% more than in 2020, the year in which the coronavirus pandemic reached the world, according to figures from the Ministry of Tourism (Sectur). In 2018, the year in which López Obrador became president of Méixco, the country received 386,257 Spanish tourists.
Last year Spain was the fifth most tourists came to Mexico.
