Furniture and Related Product Manufacturing
Subsector (337)
2024-Q2: $6.58T MX, Gross Domestic Product
Jan-Jun 2024: US$20.9M, Foreign Direct Investment
In the second quarter of 2024 the gross domestic product was $6.58T MX, 5.06% more 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-Q2: $6.58T MX
Gross Domestic Product 2023: $6.37T MX
* Data displayed corresponds to the sector Manufacturing since the information at lower levels of disaggregation is not available.
In the second quarter of 2024, Manufacturing recorded a gross domestic product of $6.58T MX, evidencing an increase of 5.06% compared to the previous quarter and an increase of 2.27% compared to the same period of the previous year.
* Current values, at current prices, base year 2013. Excludes taxes on products.
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).
* It is recommended to consider the values as approximations of the real value because some records have been anonymized due to confidentiality principles.
Production Indicators by Municipality
#permalink to sectionAccording to dato from Economic Census 2014, Furniture and Related Product Manufacturing had a total of 92,994 economic units and the municipalities with the highest number of economic units were Iztapalapa (1.91k), Guadalajara (1.78k), and Uruapan (1.58k)
Total income eached $151B MX and the municipalities with the highest income were Tijuana ($10.5B MX), Iztapalapa ($7.63B MX), and Tlalnepantla de Baz ($6.9B MX).
Total expenditures were $104B MX and the municipalities with the highest expenditures were Tijuana ($5.98B MX), Tlalnepantla de Baz ($5.9B MX), and Iztapalapa ($5.73B MX).
On the other hand, in 2014 there were 443391 employees dependent on economic units and the municipalities with the highest number of employees were Tijuana (33.4k), Iztapalapa (15.1k), and Guadalajara (14.6k).
* Any inconsistency between the data at the state and municipal level is due to the anonymization methodologies applied to the data, also municipalities not shown in the visualization have been anonymized.
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 May 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$20.9M, FDI Jan-Jun 2024
- US$670M, FDI Jan-1999 to Jun-2024
In the period January to June 2024, FDI from Furniture and Related Product Manufacturing was US$20.9M, distributed in inter-company debts (US$20.9M), equity Capital (US$0), and reinvestment of earnings (US$0).
Since January 1999 to June 2024, the accumulated amount of FDI in Furniture and Related Product Manufacturing was US$670M, distributed in inter-company debts (US$512M), reinvestment of earnings (US$92.1M), and equity Capital (US$65.2M).
* Confidential data is not shown in the chart (see information icon in the section).
Foreign Direct Investment (FDI) by State
#permalink to sectionPeriod Jan-Jun 2024: US$0
Period Jan-1999 to Jun-2024: US$324M, Baja California is the main receiving state
No FDI is recorded in the period January to June, 2024
Historically (from January 1999 to June2024) the states that have received the highest FDI are Baja California (US$324M), Nuevo León (US$155M), and Tamaulipas (US$80.9M).
* Information download does not contain confidential data.
Foreign Direct Investment (FDI) Origin
#permalink to sectionPeriodo Jan-Jun 2024: ---, US$0
Main investing country between Jan-1999 and Jun-2024: United States, US$561M
No FDI is recorded in the period January to June of 2024.
Historically (from January 1999 to June de 2024) the countries that contributed the most to FDI were United States (US$20.8M) and Canada (Confidential).
* Information download does not contain confidential data.
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 Querétaro (15.3%), Jalisco (14.4%), Durango (14.3%), Baja California Sur (13.7%), and Chihuahua (13.2%).
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 12.8% units with up to 10 people, 78.8% units with 11 to 50 people, 94.4% units with 51 to 250 people, and 94.7% units with 251 and more people.
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.
Internet Use in Companies
#permalink to sectionThe visualization shows where the economic units are concentrated depending on the use they make of the internet, according to the size or age of the company.
According to the size of the company, the economic units of 251 and more people that use the internet in government procedures (98.9%) stand out in percentage terms.
According to the age of the company, seniors (over 10 years) economic units that use the internet for search information for goods or services (82.6%) stand out.
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 $14.8B MX and purchases were $12.2B MX. On the other hand, sales made in monetary transactions were $83.8B MX and purchases reached $49.8B MX.
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 another problems (16.9%), high costs of raw materials (16.6%), public insecurity (16.1%), and high taxes (14%).
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 Estado de México ($17.3B MX),Jalisco ($13.9B MX),Ciudad de México ($10.1B MX),Baja California ($6.9B MX),Nuevo León ($5.95B MX).
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.
Qualified staff in Innovation Activities
#permalink to sectionThe visualization shows the distribution of large economic units of the private and parastatal sector of Furniture and Related Product Manufacturing that employed qualified staff in technological research and development activities in 2016, 2017 and 2018.
According to data from the Economic Census 2019, the lowercase Furniture and Related Product Manufacturing Subsector had 48 economic units that had qualified staff in technological research and development activities, 0 economic units had it for research and technological development in the field of Biotechnology and 0 economic units for research and technological development in Nanotechnology.
In the same year, 28 economic units had qualified personnel in the registration or processing of patents for brands, products or processes, and 17 economic units had this type of staff to contracts or acquisition of patents for brands, products or processes.