The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Columbia Center on Sustainable Investment (CCSI), a joint center of Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their sixth survey of Mexican multinationals today. The survey, conducted during 2014, is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present report focuses on 2013 data.

In 2013 the 20 largest Mexican MNEs had foreign assets of US$ 142 billion (Table 1), foreign revenue of US$ 98 billion, and 313,147 foreign employees (Annex I, Table 1). The two largest companies (América Móvil and CEMEX) together controlled US$ 88 billion, constituting 62% of total foreign assets of the MNEs on the list. The largest four MNEs (including Grupo México and Grupo FEMSA) held US$ 116 billion, representing 82% of the total. In terms of the number of companies, the food and beverage industry leads the list with five firms, followed by diversified companies with four.

Only two companies are not listed on a stock market: PEMEX, an oil company wholly-owned by the Mexican State, and XIGNUX, a family-controlled conglomerate.

The 20 MNEs have 311 subsidiaries overseas. Since the 1990s, the highest concentration of subsidiaries has been in Latin America, followed by North America, primarily the United States; but this year Western Europe appears in second place (see Annex I, Figure 2, denoted “Other Europe”), slightly over North America, a continuation of the trend observed in our last EMGP report “Updated Features of Large Mexican Multinationals, 2012”.

Eastern Europe and Central Asia are in fourth place followed by South-East and Pacific Asia. None of the ranked firms are present in sub-Saharan Africa.

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