Finance and Insurance

Sector (52)

 2021-Q1: $987B MX, Gross Domestic Product

DENUE May 2020: 102,521, Economic units

Jan-Mar 2021: US$1.73B, Foreign Direct Investment

2021-Q1 : $7.52k MX, Average Monthly Salary

2021-Q1 : 416k, Workforce

2021-Q1 : 50.2%, Female Workforce

2021-Q1: 35.1, Average Age

In the first quarter of 2021 the gross domestic product was $987B MX, 0.52% less than the previous quarter.

According DENUE 2021, Finance and Insurance registered 102,521 economic units. The states with the highest number of economic units were Ciudad de México (11,792), Estado de México (8,939), and Nuevo León (7,669).

According to data from the Economic Census 2019, total gross production was $1.34T MX. The states with the highest total gross production were Ciudad de México ($1.06T MX) and Nuevo León ($131B MX).

For its part, total income reached $2.74T MX in 2019, being the states with the highest income Ciudad de México ($2.32T MX) and Nuevo León ($240B MX).

Economic activities are related if they require similar knowledge or inputs. In 2014 in Finance and Insurance the states with the highest affinity were San Luis Potosí (0.9), Sinaloa (0.89), Baja California Sur (0.88), Chihuahua (0.85), and Sonora (0.85).

During the first quarter of 2021 in Finance and Insurance the workforce was 416k people, 49.8% men and 50.2% women. In addition, the average monthly salary informed was $7.52k MX.

During the same period, occupations with the highest number of workers in Finance and Insurance were Insurance Agents and Financial Services (Account Executives), Cashiers, Tellers and Recipients Betting, and Directors and Managers in Accounting, Financial, Banking and Insurance.

At the state level, the occupied population of Finance and Insurance was concentrated in List Ciudad de México,Estado de México,Nuevo León.

The average age of workers in Finance and Insurance in the first quarter of 2021 was abbreviate 35.09754420880835 years. In the same period, the average schooling of the workforce of Finance and Insurance, was 14.6 years.

Salaries and Workforce

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Average Monthly Salary 2021-Q1: $7.52k MX

Working population 2021-Q1: 416k

In the first quarter of 2021, the workforce in Finance and Insurance it was of 416k people, 49.8% men with a reported average monthly salary of $7.78k MX and 50.2% women with a salary of $7.26k MX.

Of the total employed population, 88.2% of the total workforce were formal workers with an average monthly salary of $7.82k MX, while he 11.8% corresponds to informal workers with an average salary of $5.3k MX.

Salaries and Workforce by Occupations and States

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In the first quarter of 2021 the occupations with the highest number of workers were Insurance Agents and Financial Services (Account Executives), Cashiers, Tellers and Recipients Betting, and Directors and Managers in Accounting, Financial, Banking and Insurance.

At the state level, the workforce of Finance and Insurance was concentrated on Ciudad de México, Estado de México, and Nuevo León.

Gross Domestic Product

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Gross domestic product 2021-Q1: $987B MX

Gross Domestic Product 2020: $3.96T MX

In the first quarter of 2021, Finance and Insurance recorded a gross domestic product of $987B MX, evidencing a drop of 0.52% compared to the previous quarter and a drop of 3.44% 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

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According to data from the Economic Census 2019, 26,593 economic units were totaled in Finance and Insurance, highlighting List Jalisco (1,969),Ciudad de México (1,872),Estado de México (1,672).

Total gross production was $1.34T MX. The states with the highest total gross production were Ciudad de México ($1.06T MX) and Nuevo León ($131B MX).

Total income reached $2.74T MX in 2019, being the states with the highest income Ciudad de México ($2.32T MX) and Nuevo León ($240B 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

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In 2019, Finance and Insurance had a total of 26,593 economic units and the municipalities with the highest number of economic units were Tijuana (621), Guadalajara (572), and Monterrey (557).

Also, $2.74T MX in total income were registered and the municipalities with the highest income were Cuauhtémoc ($789B MX), Miguel Hidalgo ($570B MX), and Álvaro Obregón ($471B MX).

Total expenditure registered in 2019 was $2.2T MX and the municipalities with the highest expenditure were Cuauhtémoc ($698B MX), Miguel Hidalgo ($461B MX), and Álvaro Obregón ($364B MX).

In 2019 there were 383k employees dependent on economic units and the municipalities with the highest number of employees were Cuauhtémoc (70.2k), Álvaro Obregón (57k), and Miguel Hidalgo (50.2k).

* 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

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The visualization shows the number of economic units in Finance and Insurance according to the number of employees.

According to DENUE data published in May 2021, 91,745 companies with 0 to 10 employees were registered (66 companies less than the previous period). In the same period, 9,847 companies with 11 to 50 employees were registered (9 companies more than the previous period).

516 companies with 51 to 100 employees were registered in 2021 (equal number of companies as the previous period). Likewise, 413 companies with more than 101 employees were registered (10 companies more than the previous period).

Source National Statistical Directory of Economic Units (DENUE)

Foreign Direct Investment (FDI)

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  • US$1.73B, FDI Jan-Mar 2021
  • US$90.1B, FDI Jan-1999 to Mar-2021

In the period January to March 2021, FDI from Finance and Insurance was US$1.73B, distributed in reinvestment of earnings (US$1.74B), equity Capital (US$58.2M), and inter-company debts (-US$60.4M).

Since January 1999 to March 2021, the accumulated amount of FDI in Finance and Insurance was US$90.1B, distributed in reinvestment of earnings (US$45.8B), equity Capital (US$39.9B), and inter-company debts (US$4.4B).

* Confidential data is not shown in the chart (see information icon in the section).

* Due to the confidentiality of the data, the quarterly breakdown by type of investment does not show reinvestment of earnings.

Foreign Direct Investment (FDI) by State

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Period Jan-Mar 2021: US$792M, Mexico City is the main receiving state

Period Jan-1999 to Mar-2021: US$44.1B, Mexico City is the main receiving state

From January to March 2021, the states that received the highest FDI for Finance and Insurance were Mexico City (US$792M), Estado de México (US$150M), and Jalisco (US$108M).

Historically (from January 1999 to March2021) the states that have received the highest FDI are Mexico City (US$44.1B), Estado de México (US$6.02B), and Nuevo León (US$5.88B).

* Information download does not contain confidential data.

Foreign Direct Investment (FDI) Origin

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Main investing country between Jan-Mar 2021: Spain, US$1.01B

Main investing country between Jan-1999 and Mar-2021: United States, US$40.7B

During January to March de 2021, the main countries of origin of FDI for Finance and Insurance were Spain (US$1.01B), United States (US$564M), and Canada (US$157M).

Historically (from January 1999 to March de 2021) the countries that contributed the most to FDI were Spain (US$1.01B), United States (US$564M), and Canada (US$157M).

* Information download does not contain confidential data.

Diversification Frontier

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The Affinity-Complexity visualization compares the risk and strategic value of a potential industry's opportunities in a territory. Affinity  is a predictor of the probability that a state increases its market size in an industry. Complexity  is associated with higher levels of income, potential for economic growth, lower levels of inequality and lower emissions.

Specialization and Opportunity

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As of May 2021, the states with the highest degree of specialization in Finance and Insurance were Quintana Roo (2.24), Nuevo León (2.22), and Baja California (1.94). 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 Finance and Insurance according to Relatedness were San Luis Potosí (0.9), Durango (0.83), and Zacatecas (0.59). 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).

Workforce by Schooling Years, Age Range and Gender

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Average Age 2021-Q1: 35.1

Average Years of Schooling 2021-Q1: 14.6

The visualization shows the workforce of Finance and Insurance by age group and years of schooling, comparing men and women.

In the first quarter of 2021 in Finance and Insurance the average age for women was abbreviate 34.59917957368502 years and the average schooling was 14.2 years.

The average age of men in the Finance and Insurance workforce was 35.6 years, while the average schooling was 15 years during first quarter of 2021.

* The visualization omits the range of schooling "Not Specified".

Staff According to Age of the Companies

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The visualization shows the percentage distribution of employed staff according to age range or educational level in economic units of different ages.

According to data from the Economic Census 2019, the economic units of the Finance and Insurance sector had 662,239 people employed, by age range 22,379 people up to 20 years old were registered, 261,572 people from 21 to 30 years old, 232,498 people from 31 to 40 years old and 145,790 people over 40 years old.

By educational level 7,540 people without education were registered, 39,947 people with basic education, 251,266 people with upper secondary education and 363,486 people with higher education.

Staff Turnover and Permanence

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The visualization shows the percentage distribution of staff turnover and permanence in companies of different sizes and ages, according to the option selected in the upper button.

According to data from the Economic Census 2019, employee turnover is 13.8% in companies with up to 10 people, 26.4% in companies with 11 to 50 people, 21.5% in companies with 51 to 250 people, and 23.9% in companies with 251 and more people.

According to data from the Economic Census 2019, the staff distribution who received training according to age range was 37.4% of staff with up to 20 years, 54.6% of staff between 21 and 30 years, 57.7% of staff between 31 and 40 years, and 62.6% of staff with 41 years or more.

According to the level of instruction, the distribution of trained staff was 72.4% of staff without intruction, 35.7% of staff with basic education, 44.7% of staff with upper secondary education, and 67.3% of staff with higher education.

Access to Financing

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According to data from the Economic Census 2019, the distribution of economic units according to size that had access to financing was 10.3% units with up to 10 people, 19.5% units with 11 to 50 people, 31% units with 51 to 250 people, and 37.1% units with 251 and more people.

According to the age of the economic units, the distribution of those that obtained financing was 11% of the recently created (up to 2 years) units, 13.9% of the youth (3 to 5 years) units, 10.1% of the adults (6 to 10 years) units, and 12.8% of the seniors (over 10 years) units.

The states with the highest percentage of economic units that received financing were Chiapas (17.6%), Oaxaca (16.1%), Estado de México (15.4%), San Luis Potosí (15.4%), and Puebla (14.9%).

Sources and Uses of Financing

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The 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.

Information Technologies

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Internet Usage by State

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The visualization shows the percentage distribution of the economic units in the Finance and Insurance sector 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 Nayarit (87.1%), Colima (84.8%), Morelos (83.7%), Tlaxcala (82.6%), and Querétaro (82.1%).

Availability of Internet Service and Computing

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The 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 Finance and Insurance sector had 76.8% of economic units that had internet services and 80.9% 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

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The 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 banking and financial operations (95.6%) stand out in percentage terms.

According to the age of the company, adults (6 to 10 years) economic units that use the internet for business management (82.8%) stand out.

Business Management

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Internet Purchases and Sales

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The 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 $30.4B MX and purchases were $34.7B MX. On the other hand, sales made in monetary transactions were $246B MX and purchases reached $160B MX.

Problems faced by economic units

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The 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 Finance and Insurance with up to 10 workers are public insecurity (29.3%), another problems (17.8%), high taxes (12.8%), and excess government procedures to operate (9.07%).

Accounting System

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According to data from the Economic Census 2019, the distribution of economic units that had an accounting system  was 83.7% units with up to 10 people, 85.2% units with 11 to 50 people, 90.5% units with 51 to 250 people, and 97.7% units with 251 and more people.

The states with the highest percentage of economic units that had an accounting system were Querétaro (88.3%), Tabasco (88.1%), Tlaxcala (87.6%), Tamaulipas (87%), and Guanajuato (86.8%).

Expenditure and Income Control Mechanisms

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The 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 external accounting system (35.8%) in companies with up to 10 people, accounting system developed by third parties (44.1%) in companies with 11 to 50 people, internally developed accounting system (65.9%) in companies with 51 to 250 people, and internally developed accounting system (70.4%) in companies with 251 and more people.

Monetary Transactions

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The visualization shows the percentage distribution of the economic units in the Finance and Insurance sector 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 Ciudad de México ($108B MX),Nuevo León ($20.3B MX),Jalisco ($14.9B MX),Estado de México ($9.42B MX),San Luis Potosí ($9.29B 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.

Environmental Standard

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The visualization shows the percentage of large economic units of the private and parastatal sector that had activities in 2018, according to compliance with the environmental standard.

In 2018, 3.35% of the large economic units complied with the environmental standard, 18.5% did not know if they complied with any environmental standard, and 78.1% did not comply with the environmental standard.

Staff Engaged in Environmental Protection Activities

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The visualization shows the percentage distribution of economic units in the private and parastatal sectors of Finance and Insurance that had staff in environmental protection activities by state.

According to data from the Economic Census 2019, the states with the highest percentage of large economic units that had staff in environmental protection activities were Ciudad de México (5.21%), Morelos (2.87%), Hidalgo (1.98%), Guerrero (1.62%), and Estado de México (1.38%).

Environmental Protection Processes

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According to data from the 2019 Economic Census, 32.1% of the large economic units in the Finance and Insurance sector separated their waste, highlighting the separation of paper (85.1%), plastic (51.7%), and organic waste (38.7%).

On the other hand, 0.51% of the large economic units applied some treatment to the wastewater generated in their activity. The main uses of the treated water were cooling system (0.24%), gardening and cleaning (0.18%), and discharge to the public network (0.047%).

Expenditure and Investment in Environmental Protection

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According to data from the Economic Census 2019, 4.27% of the large economic units in the Finance and Insurance sector made expenditures on environmental protection, highlighting expenditures in ecosystem protection activities ($96.3k MX), hiring of consultants and external services ($55.2k MX), and non-hazardous waste management ($50.5k MX).

On the other hand, 0.77% of the large economic units made investment in environmental protection. The main investments were in care and maintenance of the vehicle fleet ($52.9k MX), decrease water consumption ($50.4k MX), and hiring of consultants and external services ($26.3k MX).

Science, Innovation and Technology

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Innovation in Large Companies in Recent Years

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The visualizations shows the percentage distribution of the large economic units of the private and parastatal sector of Finance and Insurance 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 Ciudad de México (17.1%), Guerrero (13%), Morelos (12.6%), Puebla (8.52%), and Veracruz de Ignacio de la Llave (7.05%).

Innovation Activities in 2018

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According to data from the Economic Census 2019, 5.14% of the large economic units of the private and parastatal sector of Finance and Insurance had innovation activities in 2018.

Of the total staff employed in large economic units, 6.57% was employed in product innovation activities, 0.61% in process innovation, 0.22% in market innovation, 3.27% in organizational innovation, and 1.25% in innovation for technological adaptation and documentation.

Qualified staff in Innovation Activities

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The visualization shows the distribution of large economic units of the private and parastatal sector of Finance and Insurance 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 Finance and Insurance Sector had 981 economic units that had qualified staff in technological research and development activities, 49 economic units had it for research and technological development in the field of Biotechnology and 16 economic units for research and technological development in Nanotechnology.

In the same year, 59 economic units had qualified personnel in the registration or processing of patents for brands, products or processes, and 37 economic units had this type of staff to contracts or acquisition of patents for brands, products or processes.