Furniture and Related Product Manufacturing
Subsector (337)
2024-Q4: $6.79T MX, Gross Domestic Product
Jan-Dec 2024: US$89.1M, Foreign Direct Investment
In the fourth quarter of 2024 the gross domestic product was $6.79T MX, 0.62% less than the previous quarter.
According to data from the Economic Census 2019, total gross production was $82.9B MX. The states with the highest total gross production were Estado de México ($16.9B MX) and Jalisco ($13.9B MX).
For its part, total income reached $84.3B MX in 2019, being the states with the highest income Estado de México ($17.3B MX) and Jalisco ($14B MX).
Economic activities are related if they require similar knowledge or inputs. In 2014 in Furniture and Related Product Manufacturing the states with the highest affinity were Sonora (0.77), Chihuahua (0.7), Nuevo León (0.66), Querétaro (0.65), and Baja California (0.64).
Production
#permalink to sectionGross Domestic Product
#permalink to sectionGross domestic product 2024-Q4: $6.79T MX
Gross Domestic Product 2024: $6.66T MX
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In the fourth quarter of 2024, Manufacturing recorded a gross domestic product of $6.79T MX, evidencing a drop of 0.62% compared to the previous quarter and an increase of 6.7% compared to the same period of the previous year.
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Production Indicators by State
#permalink to sectionAccording to data from the Economic Census 2019, 30,520 economic units were totaled in Furniture and Related Product Manufacturing, highlighting Michoacán de Ocampo (3,366), Estado de México (3,135), and Jalisco (2,736).
Total gross production was $82.9B MX. The states with the highest total gross production were Estado de México ($16.9B MX) and Jalisco ($13.9B MX).
Total income reached $84.3B MX in 2019, being the states with the highest income Estado de México ($17.3B MX) and Jalisco ($14B MX).
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Economic Units
#permalink to sectionThe visualization shows the number of economic units in Furniture and Related Product Manufacturing according to the number of employees.
According to DENUE data published in November 2024, 0 companies with 0 to 10 employees were registered (equal number of companies as the previous period). In the same period, 0 companies with 11 to 50 employees were registered (equal number of companies as the previous period).
0 companies with 51 to 100 employees were registered in 2024 (equal number of companies as the previous period). Likewise, 0 companies with more than 101 employees were registered (equal number of companies as the previous period).
Source National Statistical Directory of Economic Units (DENUE)
Investment
#permalink to sectionForeign Direct Investment (FDI)
#permalink to section- US$89.1M, FDI Jan-Dec 2024
- US$743M, FDI Jan-1999 to Dec-2024
In the period January to December 2024, FDI from Furniture and Related Product Manufacturing was US$89.1M, distributed in reinvestment of earnings (US$46M), inter-company debts (US$43.1M), and equity Capital (Confidential).
Since January 1999 to December 2024, the accumulated amount of FDI in Furniture and Related Product Manufacturing was US$743M, distributed in inter-company debts (US$528M), reinvestment of earnings (US$136M), and equity Capital (US$79.5M).
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Foreign Direct Investment (FDI) by State
#permalink to sectionPeriod Jan-Dec 2024: US$0
Period Jan-1999 to Dec-2024: US$353M, Baja California is the main receiving state
No FDI is recorded in the period January to December, 2024
Historically (from January 1999 to December2024) the states that have received the highest FDI are Baja California (US$353M), Nuevo León (US$176M), and Tamaulipas (US$71.7M).
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Foreign Direct Investment (FDI) Origin
#permalink to sectionPeriodo Jan-Dec 2024: ---, US$0
Main investing country between Jan-1999 and Dec-2024: United States, US$606M
No FDI is recorded in the period January to December of 2024.
Historically (from January 1999 to December de 2024) the countries that contributed the most to FDI were United States (US$86.8M), Switzerland (Confidential), and Canada (Confidential).
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Specialization and Opportunity
#permalink to sectionAs of May 2021, the states with the highest degree of specialization in Furniture and Related Product Manufacturing were Michoacán de Ocampo (2.32), Veracruz de Ignacio de la Llave (1.35), and Jalisco (1.31). The degree of specialization is measured using the RCA index, which represents the ratio between the observed and expected establishments of each state for each industry.
The states with the highest degree of development opportunity in Furniture and Related Product Manufacturing according to Relatedness were Querétaro (0.65), Baja California (0.64), and Coahuila de Zaragoza (0.63). The Relatedness measures the distance between an industry and the current industrial composition in each state. The presented entities register a level of specialization lower than one unit (RCA <1).
Financing
#permalink to sectionAccess to Financing
#permalink to sectionAccording to data from the Economic Census 2019, the distribution of economic units according to size that had access to financing was 9.21% units with up to 10 people, 29.1% units with 11 to 50 people, 49.2% units with 51 to 250 people, and 43.2% units with 251 and more people.
According to the age of the economic units, the distribution of those that obtained financing was 10.5% of the recently created (up to 2 years) units, 10.8% of the youth (3 to 5 years) units, 10.6% of the adults (6 to 10 years) units, and 10.8% of the seniors (over 10 years) units.
The states with the highest percentage of economic units that received financing were N/A.
Sources and Uses of Financing
#permalink to sectionThe visualization shows the percentage of economic units according to size or age according to the sources of financing or the uses they gave to the financing received.
In the chart, each level corresponds to a size or age of the company depending on the option selected in the upper button. The darker the box, the higher the percentage of economic units that are in that category.
Access to Bank Account and Credit
#permalink to sectionAccording to data from the Economic Census 2019, the distribution of economic units that had a bank account was N/A.
The states with the highest percentage of economic units that had a bank account were Nuevo León (43.4%), Baja California (36.9%), Chihuahua (35.7%), Baja California Sur (33.3%), and Querétaro (33.3%).
The same information can be viewed for the economic units that had bank credit by changing the option selected in the upper button.
Reasons for not Having Credit or Bank Account
#permalink to sectionThe visualization shows the percentage of economic units classified by size according to reasons for not having a bank account or credit.
In the chart, each level corresponds to a company size, the darker the box, the greater the percentage of economic units that are in that category. The categories represent the reasons why the companies did not have a bank account or credit, depending on the option selected in the upper button.
Information Technologies
#permalink to sectionInternet Usage by State
#permalink to sectionThe visualization shows the percentage distribution of the economic units in the Furniture and Related Product Manufacturing subsector that had internet services.
According to data from the Economic Census 2019, the states with the highest percentage of economic units that had internet services were Nuevo León (36.5%), Baja California (33.2%), Querétaro (32%), Ciudad de México (27.3%), and Aguascalientes (27.1%).
Availability of Internet Service and Computing
#permalink to sectionThe visualization shows the distribution of companies that had internet services or computer services according to the size or age of the economic units, depending on the options selected in the upper buttons.
According to data from the Economic Census 2019, the Furniture and Related Product Manufacturing subsector had 13.8% of economic units that had internet services and 14.9% of economic units that had computer services. The disaggregation by size or age of the units can be analyzed in the visualization.
Business Management
#permalink to sectionInternet Purchases and Sales
#permalink to sectionThe visualization shows the distribution of purchases and sales over the Internet and the distribution of monetary transactions according to the medium used in the transaction and the size of the companies.
According to data from the 2019 Economic Census, internet sales reached N/A and purchases were N/A. On the other hand, sales made in monetary transactions were N/A and purchases reached N/A.
Problems faced by economic units
#permalink to sectionThe chart shows the main problems faced by economic units. With the upper selector it is possible to analyze the problems affecting companies according to their size. By default, the problems of economic units with up to 10 people are shown.
According to data from the Economic Census 2019, the main problems faced by the economic units of Furniture and Related Product Manufacturing with up to 10 workers are N/A.
Accounting System
#permalink to sectionAccording to data from the Economic Census 2019, the distribution of economic units that had an accounting system was 44% units with up to 10 people, 96.4% units with 11 to 50 people, 99.3% units with 51 to 250 people, and 100% units with 251 and more people.
The states with the highest percentage of economic units that had an accounting system were Chihuahua (77.4%), Baja California (74%), Nuevo León (68.9%), Aguascalientes (66.8%), and Ciudad de México (66.7%).
Expenditure and Income Control Mechanisms
#permalink to sectionThe chart shows the percentage of companies by size that used different mechanisms to control expenses and income in their operations.
According to data from the Economic Census 2019, the main expenses and income control mechanisms were accounting system developed by third parties (62.5%) in companies with up to 10 people, external accounting system (51%) in companies with 11 to 50 people, internally developed accounting system (62.7%) in companies with 51 to 250 people, and internally developed accounting system (84.2%) in companies with 251 and more people.
Monetary Transactions
#permalink to sectionThe visualization shows the percentage distribution of the economic units in the Furniture and Related Product Manufacturing subsector according to the amount of income from the supply of goods and services.
According to data from the Economic Census 2019, the states with the highest income from the supply of goods and services were list N/A.
With the upper selector it is possible to see the distribution of expenses for consumption of goods and services, in addition to the amounts of purchases or sales over the internet.
Science, Innovation and Technology
#permalink to sectionInnovation in Large Companies in Recent Years
#permalink to sectionThe visualizations shows the percentage distribution of the large economic units of the private and parastatal sector of Furniture and Related Product Manufacturing with innovation activities in at least one year between 2016 and 2018.
According to data from the Economic Census 2019, the states with the highest percentage of large economic units with innovation activities in 2016, 2017 or 2018 were Morelos (100%), Durango (35%), Hidalgo (25%), Yucatán (22.2%), and Michoacán de Ocampo (20%).
Innovation Activities in 2018
#permalink to sectionAccording to data from the Economic Census 2019, 13.4% of the large economic units of the private and parastatal sector of Furniture and Related Product Manufacturing had innovation activities in 2018.
Of the total staff employed in large economic units, 2.22% was employed in product innovation activities, 2.39% in process innovation, 0.73% in market innovation, 1.45% in organizational innovation, and 0.58% in innovation for technological adaptation and documentation.