Oil and Gas Extraction
Industry Group (2111)
2024-Q2: $872B MX, Gross Domestic Product
DENUE May 2024: 111, Economic units
Jan-Jun 2024: US$68.8M, Foreign Direct Investment
In the second quarter of 2024 the gross domestic product was $872B MX, 4.51% more than the previous quarter.
According DENUE 2024, Oil and Gas Extraction registered 111 economic units. The states with the highest number of economic units were Tabasco (30), Veracruz de Ignacio de la Llave (26), and Tamaulipas (15).
According to data from the Economic Census 2019, total gross production was $846B MX. The states with the highest total gross production were Campeche ($522B MX) and Tabasco ($268B MX).
For its part, total income reached $950B MX in 2019, being the states with the highest income Campeche ($587B MX) and Tabasco ($296B MX).
Economic activities are related if they require similar knowledge or inputs. In 2014 in Oil and Gas Extraction the states with the highest affinity were Sonora (0.62), Nuevo León (0.61), Chihuahua (0.61), Ciudad de México (0.6), and Coahuila de Zaragoza (0.58).
Production
#permalink to sectionGross Domestic Product
#permalink to sectionGross domestic product 2024-Q2: $872B MX
Gross Domestic Product 2023: $853B MX
* Data displayed corresponds to the sector Mining, Quarrying, and Oil and Gas Extraction since the information at lower levels of disaggregation is not available.
In the second quarter of 2024, Mining, Quarrying, and Oil and Gas Extraction recorded a gross domestic product of $872B MX, evidencing an increase of 4.51% compared to the previous quarter and an increase of 4.93% 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, 26 economic units were totaled in Oil and Gas Extraction, highlighting Tabasco (9), Campeche (5), and Veracruz de Ignacio de la Llave (5).
Total gross production was $846B MX. The states with the highest total gross production were Campeche ($522B MX) and Tabasco ($268B MX).
Total income reached $950B MX in 2019, being the states with the highest income Campeche ($587B MX) and Tabasco ($296B 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, Oil and Gas Extraction had a total of 42 economic units and the municipalities with the highest number of economic units were Centro (33) and Reynosa (9)
Total expenditures were $35.7B MX and the municipalities with the highest expenditures were Centro ($27B MX) and Reynosa ($8.69B MX).
On the other hand, in 2014 there were 26532 employees dependent on economic units and the municipalities with the highest number of employees were Centro (18.5k) and Reynosa (8.02k).
* 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 Oil and Gas Extraction according to the number of employees.
According to DENUE data published in May 2024, 53 companies with 0 to 10 employees were registered (30 companies more than the previous period). In the same period, 19 companies with 11 to 50 employees were registered (15 companies less than the previous period).
10 companies with 51 to 100 employees were registered in 2024 (4 companies less than the previous period). Likewise, 29 companies with more than 101 employees were registered (13 companies less than the previous period).
Source National Statistical Directory of Economic Units (DENUE)
Investment
#permalink to sectionForeign Direct Investment (FDI)
#permalink to section- US$68.8M, FDI Jan-Jun 2024
- US$8.88B, FDI Jan-1999 to Jun-2024
In the period January to June 2024, FDI from Oil and Gas Extraction was US$68.8M, distributed in reinvestment of earnings (US$169M), equity Capital (US$0), and inter-company debts (-US$100M).
Since January 1999 to June 2024, the accumulated amount of FDI in Oil and Gas Extraction was US$8.88B, distributed in equity Capital (US$5.02B), inter-company debts (US$2.06B), and reinvestment of earnings (US$1.79B).
* 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$1.93B, Mexico City 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 Mexico City (US$1.93B), Tamaulipas (US$1.83B), and Tabasco (US$1.67B).
* 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$3.52B
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 Argentina (Confidential), United States (US$21.6M), and United Kingdom (Confidential).
* Information download does not contain confidential data.
Specialization and Opportunity
#permalink to sectionThe states with the highest degree of development opportunity in Oil and Gas Extraction according to Relatedness were Sonora (0.62), Nuevo León (0.61), and Chihuahua (0.61). 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).