The Institute for Economic Research (IIEc) of the National Autonomous University of Mexico (UNAM) and the Vale Columbia Center on Sustainable International Investment (VCC), a joint center of the Columbia Law School and the Earth Institute at Columbia University in New York, are releasing the results of their fourth survey of Mexican multinationals today. The survey, conducted during 2012 is part of a long-term study of the rapid global expansion of multinational enterprises (MNEs) from emerging markets. The present report focuses on data for the year 2011.

In 2011, the 20 largest Mexican MNEs had foreign assets to the tune of US$ 129 billion (table 1), foreign revenue of US$ 73 billion, and 266,715 foreign employees (Annex I, table 1). The two largest companies (América Móvil and CEMEX) together controlled US$ 82 billion, equivalent to 64% of the total assets of the list. The largest four MNEs (including Grupo FEMSA and Grupo Mexico) held US$ 105 billion, equivalent to about 82% of the total. Companies of the food and beverage sector (four) dominate the panorama, followed by those of the non-metallic minerals industry (three). 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 262 subsidiaries overseas. Since the 1990s, the highest concentration of subsidiaries is in Latin America, followed by North America, primarily the United States. Europe is in the third place, closely followed by Asia.

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