Finance and Insurance

Sector (52)

 2020-Q4: $993B MX, Gross Domestic Product

DENUE-2020: 199,216, Economic units

Jan-Dec 2020: US$6.75B, Foreign Direct Investment

2020-Q4 : $6.52k MX, Average Monthly Salary

2020-Q4 : 428k, Workforce

2020-Q4 : 46.2%, Female Workforce

2020-Q4: 35.2, Average Age

In the fourth quarter of 2020 the gross domestic product was $993B MX, 1.28% more than the previous quarter.

In 2019, Finance and Insurance registered 199,216 economic units. The states with the highest number of economic units were Jalisco (1,969), Ciudad de México (1,872), and Estado de México (1,672). In the same period, the states with the highest added value were Ciudad de México ($687B MX), Nuevo León ($97.2B MX), and Guanajuato ($15.4B MX).

In Finance and Insurance the states with the highest production were Ciudad de México ($1.06T MX), Nuevo León ($131B MX), and Guanajuato ($21.8B MX). In the same period, an income were registered distributed mainly in Ciudad de México ($2.32T MX), Nuevo León ($240B MX), and Guanajuato ($32.1B MX).

In 2019, in Finance and Insurance the states with the highest level of investment in the same period were Ciudad de México ($18.1B MX), Nuevo León ($2.16B MX), and Guanajuato ($918M 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 (0.92), Baja California Sur (0.91), Chihuahua (0.85), Sinaloa (0.84), and Sonora (0.81).

During the fourth quarter of 2020 in Finance and Insurance the workforce was 428k, 53.8% men and 46.2% women. In addition, the average monthly salary informed was $5.95k MX for men and $7.19k MX for women.

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 and the states with the largest workforce were Ciudad de México, Estado de México, and Nuevo León.

The average age of workers in Finance and Insurance in the fourth quarter of 2020 was 35.4 years in women and 35.1 years in men. In the same period, the average years of schooling in Finance and Insurance, was 14.1 years in women and 15.2 years in men.

Salaries and Workforce

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Average Monthly Salary 2020-Q4: $6.52k MX

Working population 2020-Q4: 428k

In the fourth quarter of 2020, the workforce in Finance and Insurance it was of 428k, 53.8% men with a reported average monthly salary of $5.95k MX and 46.2% women with a salary of $7.19k MX.

Of the total employed population, 93.2% of the total workforce were formal workers with an average monthly salary of $6.64k MX, while he 6.82% corresponds to informal workers with an average salary of $4.85k MX.

Salaries and Workforce by Occupations and States

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In the fourth quarter of 2020 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 2020-Q4: $993B MX

Gross Domestic Product 2020: $3.96T MX

In the fourth quarter of 2020, Finance and Insurance recorded a gross domestic product of $993B MX, evidencing an increase of 1.28% compared to the previous quarter and a drop of 1.53% 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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In 2019, the states with the highest number of economic units were Jalisco (1,969), Ciudad de México (1,872), and Estado de México (1,672) in Finance and Insurance, in addition the states with the highest total gross production were Ciudad de México ($1.06T MX), Nuevo León ($131B MX), and Guanajuato ($21.8B MX).

In the same period, the states with the highest income were Ciudad de México ($2.32T MX), Nuevo León ($240B MX), and Guanajuato ($32.1B MX) and the states with the highest investment were Ciudad de México ($18.1B MX), Nuevo León ($2.16B MX), and Guanajuato ($918M MX). Lastly, in Finance and Insurance the states with the highest census gross value added were Ciudad de México ($687B MX), Nuevo León ($97.2B MX), and Guanajuato ($15.4B 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).

In the same period, Finance and Insurance had $2.2T MX in total expenditure and the municipalities with the highest expenditure were Cuauhtémoc ($698B MX), Miguel Hidalgo ($461B MX), and Álvaro Obregón ($364B MX). On the other hand, in 2019 there were 383B 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.

The visualization shows the number of companies according to the number of employees.

In 2020, 179,421 companies with 0-10 employees were registered, evidencing an increase of 8.18% (165,856) compared to the previous year. In the same period, 18,009 companies with 11-50 employees, evidencing an increase of 51.1% (11,918) compared to the previous year.

In 2020, 1082 companies with 51-100 employees were registered, evidencing an increase of 159% (417) compared to the previous year. In the same period, 704 companies with more than 101 employees were registered, evidencing an increase of 40% (503) compared to the previous year.

Source National Statistical Directory of Economic Units (DENUE)

Foreign Direct Investment (FDI)

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  • US$6.75B, FDI Jan-Dec 2020
  • US$88.3B, FDI Jan-1999 to Dec-2020

In the period January to December 2020, Foreign Direct Investment from Finance and Insurance was US$6.75B, distributed in reinvestment of earnings (US$6.57B), equity Capital (US$191M), and inter-company debts (-US$10.5M).

Since January 1999 to December 2020, the accumulated amount of Foreign Direct Investment in Finance and Insurance was US$88.3B, distributed in reinvestment of earnings (US$44.1B), equity Capital (US$39.8B), and inter-company debts (US$4.38B).

* Some periods have been anonymized so there may be inconsistencies between the graph and the values indicated in the paragraphs.

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Period Jan-Dec 2020: US$3.13B, Mexico City is the main receiving state

Period Jan-1999 to Dec-2020: US$43.3B, Mexico City is the main receiving state

From January to December 2020, the states that received the highest Foreign Direct Investment for Finance and Insurance were Mexico City (US$3.13B), Estado de México (US$623M), and Jalisco (US$455M).

Historically (from January 1999 to December2020) the states that have received the highest Foreign Direct Investment are Mexico City (US$43.3B), Estado de México (US$5.87B), and Nuevo León (US$5.82B).

Foreign Direct Investment (FDI) Origin

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Main investing country between Jan-Dec 2020: Spain, US$3.19B

Main investing country between Jan-1999 and Dec-2020: United States, US$40.1B

During January to December de 2020, the main countries of origin of Foreign Direct investment for Finance and Insurance were Spain (US$3.19B), United States (US$2.31B), and Canada (US$542M).

Historically (from January 1999 to December de 2020) the countries that contributed the most to Foreign Direct Investment were Spain (US$3.19B), United States (US$2.31B), and Canada (US$542M).

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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In 2020, the states with the highest degree of specialization in Finance and Insurance were Nuevo León (2.25), Quintana Roo (2.22), and Baja California (1.96). 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.

In 2020, the states with the highest degree of development opportunity in Finance and Insurance according to Relatedness were San Luis Potosí (0.92), Zacatecas (0.6), and Nayarit (0.57). 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 2020-Q4: 35.2

Average Years of Schooling 2020-Q4: 14.7

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

In fourth quarter of 2020 in Finance and Insurance, women averaged 35.4 years and 35.1 years for men.

During the same period, the average number of years of schooling in women was 14.1 years and in men 15.2 years.

* 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.

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.

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, only 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.