Mexico, cheaper than China in salary
The salary cost of China ceased to be competition for Mexico, a
situation that allows the country to continue to gain more ground in the U.S.
market, especially in the last four years, said BBVA Research.
The chief economist for BBVA Mexico, Adolfo Albo Marquez said the cost
of labor is the most important component in the structure of production costs
in manufacturing and particularly services.
Comparatively, he said, Mexico and China matching wage costs, and that
while in 1999 the nominal monthly income of a Chinese worker was about $ 80
Mexican and amounted to $ 250, but by 2009 this gap was reduced to 380 and $
375 on average, respectively.
Conference noted that another factor that plays into Mexico is the
quality and reliability of labor, for its standards of quality and compliance
with the rules of the Free Trade Agreement (NAFTA), which China still far. He
said that for China, the geographic location of Mexico is another strategic
point to increase its attractiveness to invest in the country, given the high
transport costs, however, that the country still lags in infrastructure shows
in relation to large international competitors but shows an intermediate
position and improvement. The proximity of Mexico to the United States also
means less reliance on U.S. ports saturated, timely delivery and adequate
response times to meet new orders.
The specialist said that besides the distinctive combination of both,
should be added NAFTA tariff advantages that make Mexico an attractive
destination.
Many companies in Asia have found attractive to invest in the country,
when the fate of their products is the North American market, offering the
maquiladora program that makes it possible for companies to make components and
materials duty free, which in turn can be exported for sale to U.S. and other
countries.
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