Commercial Report

Embassy of India

Mexico City

Make in India Business event - CONCAMIN BajíoIndia Pavillion at PLASTIMAGEN

Interactive session with Government of Puebla and Mexican businessmen from puebla - COMCE Sur

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CONTENTS

SL

NO

SUBJECT PAGENO

1 ExecutiveSummary 2

2 TheEconomy 2

3 Trade,InvestmentandInfrastructure 3

4 Agriculture 4

5 TheEnergySector 5

6 TheAutomotiveSector 6

7 BilateralEventsandNews-Mexicoandothercountries 7

8 MultilateralEventsandNewsinvolvingMexico 8

9 CommercialNewsfromBelize 9

10 Appendix–Statistics(Belize´sperspective)iBilateralTrade(Belize-India)inJanuary-October2017comparedtoJanuary-October2016(FiguresinThousandUSD)ii.BelizeImportStatisticsfromIndiaiii.BelizeExportStatisticstoIndia

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11 Appendix–Statistics(Mexico´sperspective)i.BilateralTradeinJanuary–September2017comparedtoJanuary-September2016(FiguresinMillionUSD)ii.MexicoImportStatisticsfromIndiaiii.MexicoExportStatisticstoIndiaiv.MexicoImportstatisticsfromtheworld(product-wise)v.MexicoExportstatisticstotheworld(product-wise)vi.MexicoExportstatisticstotheworld(Country-Wise)vii.MexicoImportstatisticsfromtheworld(Country-Wise)viii.MexicoTotaltradewiththeworld(Country-wise)

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THEECONOMY

NewGovernoroftheBankofMexico

President Enrique Peña Nieto appointedAlejandroDíazdeLeónCarrilloasGovernoroftheBankofMexicotoservefromDecember1,2017to December 31, 2021, replacing Dr. AgustínCarstensCarstens,currentlygovernoroftheBankofMexico.Díazde León is a currentmemberofthe Board of Governors of the Bank of MexicoandDeputyGovernor,positionhehasheldsince1st of January 2017, after the approval of theChamberofSenators.In2015,heheldthepostofCEO of the National Foreign Trade Bank(BANCOMEXT),whereheserveduntil theendof2016.From2011to2015,hewasdirectorofthePublic Credit Unit in the Secretariat of Financeand Public Credit (SHCP). He has been anExecutiveMemberof theNationalPensionFundfor Workers in the Service of the State andworked for Bank of Mexico for 16 years (1991-2007). The Bank of Mexico is an autonomousbodyoftheStateanditsfunctionsareentrusted

to a Governing Board and a Governor. Inaccordancewith thestablished inArticles38,40and 41 of the Bank ofMexico Law, the FederalExecutivehasthepowertoappointtheGovernoroftheBankofMexicofromamongthemembersofitsBoardofGovernors.

Inflation accelerates in the first half of

November

According to data from theNational Institute ofStatisticsandGeography,theNationalConsumerPriceIndexreachedalevelof6.59percentduringthefirstfifteendaysofNovember.SinceJanuary,inflationhasexceeded theobjectiveof theBankof Mexico. The prices that had the biggestinflation were electricity tariffs, which rose24.7%, the increaseof4% ingas,and15% inairtransportationrates.

FMI renews Mexico's Flexible Credit Line for 2

moreyears

The International Monetary Fund approved therequestoftheMexicanGovernmenttorenewthe

EXECUTIVESUMMARY

From the data received for the first 3 quarters of 2017 (Jan-Sept), India has entered the

leagueoftoptentradepartnersofMexico,withatotaltradeof5.7billionUSD.Thiswasdonewithagrowthrateof29percent,whichisagainunprecedented.(AfullreportwouldcomeattheendofFinancialYear)ThisisthefirstinthehistoryofIndiaMexicotradepartnership.Thisisintunewiththe growing activities of the Commercial Wing of the Embassy, which either organized orparticipated in34events throughout theyear. In themonthofNovember,eventwereorganizedwith CONCAMIN Bajio, the industrial conglomerate chamber in Leon and with COMCE Sur, thebiggestchamberofcommerceinPuebla. ArcelorMittal,whichhadearlier announcedan investmentof over 1billionUSD innext 3yearswouldbemovingitsheadquarterstoMonterreyfromMexicoCity.MonterreyisthirdbiggestindustrialtownofMexico.Besides,theattractivenessofMexicoisbeingrecognizedincleanenergysector as well. Mexico ranked as the fourth most attractive emerging market for clean energyinvestments according to the 2017 Climate Scope ranking by Bloomberg’s New Energy Financedivision.

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FlexibleCredit Line (equivalent to approximately88billiondollars)fortwoyears.Withtherenewalof the credit line, the FMI will give financialsecurity to the country. Mexico has never usedthe line of credit granted by the agency for thefirsttimein2009;itisseenasanadditionalshieldfor the second Latin American economy in thefaceofglobalvolatility.

TRADE,INVESTMENT&INFRASTRUCTURE

ChineseInvestorsInterestedinMexicanStateof

Michoacan

The governor of the western Mexican state ofMichoacan said at the end of an official visit toChina that investors in the Asian nation hadexpressed a great deal of interest in his region.ThegovernortookpartinadinnerwithpotentialChinese investors in Shanghai, where he toutedbusiness opportunities in his state andparticularlyhighlightedthenewspecialeconomiczone in the Pacific port of Lazaro Cardenas.Thegoal of the trip was to further strengthenrelations with China amid a context of strainedties with the United States, Mexico’s biggesttradepartner.

GMéxicowillinvesttwothousandonehundred

milliondollarsintransport

Grupo México (GMéxico) will invest twothousand one hundred million dollars in itstransport division for the next five yearsaccording to their strategic plan. Some of theirplans are: adding new patios and terminals,creating double track in some locations,replacement of direct locomotive current toalternative and digitalized telecommunicationsystems throughout the network. The transportdivision of GMéxico made up of: Ferromex,Ferrosur, Intermodal México, Texas pacífico y

Florida East Coast Railway, has presence in 24StatesinMexicoand2intheUnitedStates.

NewFlexplantisopened

ThenewFlex-Nikeplantthebiggestintheregionof cogeneration of energy, was inaugurated inZapopan, Jalisco. It had an investment of 170millionpesosandgenerating five thousand jobs.The ribbonwas also cut for the B29 building ofsports shoes, which had an investment of 750million pesos. The Governor of Jalisco said thatmaking requests for investments and makingpersonal visits to the offices has resulted inwinning projects and competingwith other Flexheadquarters.

ArcelorwillmoveoperationstoMonterrey

The steelmaker ArcelorMittal will strategicallymove itsoperationheadquarters inMexicofromMexico City to Monterrey, as 80% of itscustomersare in that regionand toattend theirsteelmarket.With the investmentofonebilliondollars that the company is planning tomake inthree steelmaking plants in Mexico in the 3followingyears, theydetectedthatthedecisionsof theirmain clients weremade in that area ofthecountry.Arceloraimstosupplytheindustrialmanufacturing, construction and automotivesectorwith the investmentof amill, continuousline of steel pickling and a modernization of itscurrent facilities in Lazaro Cárdenas,Michoacan.Withitsnewfacilitiesthecompanywillproduce5millionhotrolledsheet,onemillionsteelslaband1.8million of long products (rod andwire). Thecompany´s strategy is focused on the NAFTAregion,toprovideitsproductstotheautomotiveindustry, tractor trucks but also to Metalsa,General Motors and Dodge. The steelworksconsortium originally from India, arrived inMexico in 2006 when they bought Grupo

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Villacero from the steelmaker Lázaro Cárdenas(Sicartsa),intheportofMichoacán.

Golddemandfallstolowestsince2009

The gold demand fell to its lowest level in eightyears in the third trimester, due to a fall in thepurchasingofjewelryandadecreasedincomeinexchange-traded funds backed by bullion, saidthe World Gold Council (WGC). The WGCindicated that the general demand of gold fell9%, 915 tons, its weakest level since the 3rdtrimesterof2009.Thepatternwillprobablystayforallof2017.IndiaandChinabeingtheleadingcountriesingoldconsumption,registeredaweakdemand in the precious metal because of theintroductionof new taxes to goods and servicessincethebeginningof July,whichreducedmanyofthepurchases.TheWGCforecaststhatIndia´sdemand in all of 2017willmaintain around 650and750tons,whileChinesedemandwillbe850and 950 tons. The gold demand in thetechnologicalsectorgrew,duetothepurchaseofmemorychipsforhigh-endmobilephones.

ModeloannouncesnewplantinHidalgo

GrupoModeloannounceditwill invest14billionpesos in a new brewery and bottling plant inHidalgo,itseighthinMexico.Thenewfacility,tobe located in themunicipalityofApan,willhavean initial capacity of 1.2 billion liters of beerannually, which will make the state Mexico’slargestbeerexporter.Itwillboostthecompany’soverallcapacityby18%.CEOMauricioLeyvasaidthenewplantisasignofthelevelofinterestandcommitmentbyparentcompanyAnheuser-BuschInBevinMexico,giventhesuccessandincreasingdemandofMexicanbeerbrandsabroad.

AGRICULTURE

Mexico and Australia reinforce agricultural

agreements

Authorities of the agricultural sector of MexicoandAustraliaheldameetingwiththeobjectiveofstrengthening technical cooperation agreementsin the exchange of renewable energies, dairyproducts, the promotion of women and theempowerment of young people in thecountryside. At the meeting the status andadvances of sanitary protocols to enlargecommerce in both nations was addressed.Specially in regard to fruits and vegetables,transfer of technology in livestock sector,investment development and rural extensionschemes. Raúl Urteaga Trani, GeneralCoordinator of International Affairs of TheMinistry of Agriculture, Livestock, RuralDevelopment, FisheriesandFood (Sagarpa), saidthat the current administration maintains thefirm intention to explore and expand nichemarkets for agri-food products, technicalcooperationand collaboration in theagriculturalandfishingsector.

MexicomakespanicpurchasesofcorntoUSA

The Mexican buyers are acquiring more cornfrom USA than last year, a possible signal ofnervousness over the NAFTAS fate. Mexicobought1.36million tons (the fourthbiggest saleto the country), said the Department ofAgriculture (USDA) in their last export report.Mexicoisthebiggestcornforeignbuyerandabigconsumer of chicken and pork meat of USA.Mexicanbuyersaretakinguptheopportunityofbuying cheaper corn and getting ahead of thepoliticaluncertainty.

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Low-caloriesweetenersformore

In Mexico, 5 million 670 thousand tons ofenducolorants are consumed annually, of which15%arelowincalories,butthecompaniesinthisindustry want to increase their participation to20%. The ExecutiveDirector ofMetco, leader insteviasalesinthecountry,stressedthattheyarebasedonatwo-stepstrategy:towinoverthebignationalproducersoffoodandtoofferthepublicnewinnovations.

AgribusinessBusinessSummit2017IsPerformed

Withhismagisterial conference "Winmorewiththe FTA", the Secretary of Economy, IldefonsoGuajardo Villarreal, attended the BusinessSummitAgronegocios2017event,whichbroughttogether entrepreneurs and specialists from theagricultural, livestock, forestry, aquaculture andfishing sectors in our country, aswell as variousgovernmentofficials.

THEENERGYSECTOR

Zuma Energia Starts Construction of Two Solar

Projects

CEO of Zuma Energia announced that aftersecuring $294million dollars from developmentbanks, Zuma has begun building solar plants inHermosillo,SonoraandGaleana,Chihuahua.Thetwo projects are expected to have a combinedcapacity of 337 MW and to start producingenergyfortheNationalElectricityCompany(CFE)by mid-2018. These projects are a result ofcontracts that Zuma won in Mexico’s secondlong-termelectricityauction.

Mexico Ranks Among Top Most Attractive

MarketsforCleanEnergyInvestment

Mexico ranks as the fourth most attractiveemerging market for clean energy investmentsaccording to the 2017 Climate Scope ranking by

Bloomberg’sNewEnergyFinancedivision.Outofthe 71 countries evaluated, Mexico falls behindChina, Brazil and Jordan.Mexicomoved up fivespots compared to its 2016 ranking,outperforming Chile, Uruguay and South Africa,all in last year’s top five. Mexico´s lack of keycleanenergypolicies,suchas“feed-intariffsandnet metering” and a decline in investment, aswellasthelowshareofinvestmentcomingfromlocal sources, as the reason for Mexico’s lowerscore. In contrast, Mexico has a wide range ofdevelopers, engineering firms, service providersand financial institutions participating in therenewable energy sector. Mexico clinched thenumber-one spot in the fourth parameterbecause of its commitment to cut emissions by25 percent by 2030 and increase its share ofenergyfromrenewablesourcesto35percentby2024.

Enel and Engie Announce New Investments in

CleanEnergy

EnelGreenPowerannounced itwillbe investing$700 million dollars in the construction of fournew wind projects with a total capacity of 593MW. Three of the facilities (Amistad II andAmistadIII,withaninstalledcapacityof100MWeach, and Amistad IV,with an installed capacityof149MW)willbebuiltinAcuña,Coahuila,whilethe fourth (Dolores,withacapacityof224MW)willbebuiltinChina,NuevoLeon.Thenewplantsare expected to produce 2.09 TWh/year ofrenewableenergy,precludingemissionsofnearly960,000 tonnes of CO2 annually. Engie plans toinvest$580milliondollarsinthedevelopmentofthree solar projects and one wind project.Together, the facilities will supply 687.8MW ofrenewable energy. Tres Mesas 4, the windproject,willhave100.8MWof installedcapacityand will be built in Tamaulipas. The three solarprojects, Villa Ahumada, Abril, and Capulapan,

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will have an installed capacity of 199MWc, 134MWc, and 254MWc each and will be built inChihuahua,SonoraandTlaxcala,respectively.

Pemex’s Largest Onshore Oil Discovery in 15

Years

President Enrique Peña Nieto announced thediscovery of an important reservoir of highquality light-crude oil and gas, the mostimportant onshore discoverymade by Pemex in15years.Thereservoirwasfoundwhiledrillinginthe municipality of Cosamaloapan, about 72kilometerssouthoftheportcityofVeracruz.Thefield’s original volume is estimated at 1,500million barrels of oil equivalent (boe), whichcould represent about 350million barrels of 3Preserves.The fieldshouldstartproducingby theend of 2018 or the beginning of 2019, and thatPemex is still considering whether it needs anequitypartnertodevelopthewellornot.

THEAUTOMOTIVESECTOR

SubsidiaryofHyundaiinvestsinMexico

MobissubsidiaryofHyundaiwhohandlesKIAandHyundai, invested $450 million dollars in twoautopartsandsparepartsdistributioncentersinMexico. These centers started operations thisyear; one is located in Monterrey, Nuevo Leónand the other in Cuautitlán Izcalli, Estado deMéxico.

Carsaleof'reverse'again;nowdrops10.2%

In October 2017, 123 thousand 318 newautomobiles were commercialized in Mexico,whatrepresentedareductionof10.2%comparedwith the samemonth of last year, according todata from the Mexican Automobile DistributorAssociation (AMDA). In addition, itwas the fifthconsecutive month with a drop in the sale of

vehicles and the largest reduction for the 10thmonthsince2009.

KIAestimatestoclose2017withaboostof38%

increaseinrevenue

Despite the fact that the sale of cars inMexicofell1.1%inthefirstninemonthsoftheyear,KIAbelieves that it can close 2017with figureswellabove the industry, since it expects to sell 80thousandunitsintotal.

BILATERALNEWSANDEVENTS-MEXICOANDOTHERCOUNTRIES

INDIAInteractive session with businessmen from

Puebla

Ambassador Muktesh Pardeshi was invited byCOMCE Sur for an interactive session withMexican businessmen from Puebla. Besides thePresident of COMCE Sur, Mr. Antar Mendoza,Secretary of Economic Development of PueblaMr. Jaime Oropeza and COMCE Vice President,Mr. Jorge Lopez Morton were also present.Separately, Ambassador also met Secretary ofEconomic Development of Puebla and otherseniorofficials toknowaboutbusinesspotentialof Puebla. SMP of India already has a unit inPueblaformanufacturingofautoparts.Pueblaisone strong state in the sectors likepharmaceutical and medical devices,manufacturingandhandicrafts.OneofthestrongpointisitsproximitytothecapitalcityofMexico.

Indiaguest countryat “Encuentro Internacional

deEnergía”

At "Encuentro Internacional de EnergiaMexico"organized by Oil and Gas Alliance, India wasinvitedasguestcountry.TheEmbassyalsosetup

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Make in India stand to provide information onthe opportunities in India in this sector. India isthe third biggest trade partner of Mexico in oilsector. Indian strength in the energy sector isbeingrecognizedacrossMexico.

Ambassador´s visit to SamvardhanaMotherson

PeguformplantinTlaxcala

Ambassador Muktesh Pardeshi visited theSamvardhana Motherson Peguform (SMP)manufacturing plant in Zitlaltepec, Tlaxcala.Spread over 72 acres, this is the 15th and themost modern plant of the SamvardhanaMotherson Group of India. The Group isemploying over 20,000 Mexicans all over thecountry. Ambassador also inaugurated the LeanAcademy for inculcation of safety relatededucationamongstSMPemployees.

Ambassador visited themanufacturing plant of

RSBTransmissioninGuanajuato

Ambassador Muktesh Pardeshi visited themanufacturingplantofRSBTransmissioninSilao,Guanajuato. RSB Transmission is an Indiancompany manufacturing auto componentsrelatedtovehicletransmissionsystems.Theplantemploys 100 Mexicans presently and is lookingforwardtoexpansion.

IndiaPavillionatPlastimagen

Under the banner of Plastics Export PromotionCouncil (Plexconcil), 24 Indian companiesparticipated in Mexico's biggest sectoral ExpoPlastimagen.In2016,Indiaexportedapprox.USD100millionworthplasticsarticlestoMexico.Thetrade in this sector is constantly increasing. Theinauguration of India Pavilion was done byAmbassadorMukteshPardeshi.

Cadila Healthcare getsMexican regulatory nod

tomarketLipaglyndrug

Drug firm Cadila Healthcare has receivedmarketingapproval fromtheMexicanregulatoryauthority COFEPRIS (Federal Commission for theProtection Against Sanitary Risk) to marketLipaglyn (Saroglitazar Magnesium) used fortreating dyslipidemia in patients with diabetes.Morethan500,000patientshavebeentreatedinIndia with Lipaglyn, which was first launched inIndiainSeptember2013.Investigationonthesaleofmedicalequipment

The Federal Commission for the ProtectionAgainst Sanitary Risk (COFEPRIS) confiscatedalmost 57 thousand medical devices withoutsanitaryregistry,anetworkofthesamecompanywhich operates in Nuevo León and Jalisco isinvestigated. The assurance included titaniumscrews, femur plates, prostheses and fixators,cutting forcepsorpacemakers. The56 thousand680 products are presumably from India, butnothinghasbeenconfirmed.InAugustCOFEPRISalerted the presence of illegal medical devicedistributorsoperatingmainlyinJalisco,EstadodeMéxicoandMexicoCity.USASecretaryofEconomyvisitsWashington,D.C.

The Secretary of Economy, Ildefonso GuajardoVillarreal, on working visit to Washington, D.C.Thepurposeofthisvisitistomeetwithhigh-levelofficials and US legislators, in order to discussvarious issues on the bilateral agenda, inparticular, progress in the modernization of theNorth American Free Trade Agreement. His firstmeeting was with the CommercialRepresentative,RobertLighthizer.Theydiscussedthe progress of NAFTA and the participation ofboth countries in the OECD to address theproblem of steel industry. They also exchangedperspectivesregardingtheMinisterialMeetingof

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the World Trade Organization, to be held inDecember in Buenos Aires. Guajardo also metwith the USA Secretary of Commerce, WilburRoss, with whom he discussed the bilateraleconomic agenda. Their next meetings will bewith senators and members of the House ofRepresentatives.

CHINAMexicowill co-host the1stChina-LatinAmerica

InternationalFair

The first edition of the China-Latin AmericaInternationalFair (ExpoCLAC)willbeheld inthecity of Zhuhai, in the province of Guangdong.Mexicoistheco-hostcountryofthisfirsteditionand will have the presence of a delegation ofhigh-levelofficialsheadedby theAmbassadorofMexico in China, José Luis Bernal. It is expectedthepresenceof around100Mexican companiesand institutions that will exhibit their productsbefore the increasingly attractive market insouthernChina.

FRANCEOfficial Visit of French Foreign Minister Jean-

YvesLeDrian

Foreign Secretary Luis Videgaray met with theFrench Minister for Europe and Foreign Affairs,Jean-YvesLeDrian.Thetwoofficialsreviewedthemainbilateralissuesanddiscussedglobalevents.They highlighted the positive trend of thebilateral relationship, which can be seen in theunprecedented level of agreement and politicaldialogue, increased economic exchanges, morediverseanddeepercooperationandconstructivemultilateralcollaboration.

LEBANONMexicoStrengthensTieswithLebanon

Foreign Secretary Luis Videgaray with theLebanese Minister of Foreign Affairs andEmigrants, Gebran Bassil, to deepen thefriendship and cooperation between bothcountries. The two officials discussed bilateral,regional andmultilateral issues. They reaffirmedthe excellent political dialogue between bothgovernments and agreed to give impetus to theeconomic relationship, trade and investment,withtheparticipationofbothcountries'businesscommunities. Foreign Secretary Videgarayacknowledged the valuable contributions ofMexico's Lebanese community, which totalsabout 500,000, to the country's political,economic, social, cultural and scientificdevelopment, and its important role as a bridgebetweentheMexicanandLebanesesocieties.

BRAZILMexico and Brazil Look to Enhance Trade and

PoliticalDialogue

Foreign Secretary Luis Videgaray met in Brazilwith President Michel Temer, Foreign MinisterAloysio Nunes and representatives of Mexicancompanies with investments in Brazil. WithBrazilian Foreign Minister Aloysio Nunes, theForeign Secretary analyzed bilateral andinternational issues. In particular, theyreaffirmed their governments' desire to ensurethatthecurrenttradenegotiationsaresuccessfuland that bilateral trade increases. Brazil isMexico'smost importanttradingpartner inLatinAmerica and ranks 8th worldwide, with totaltrade in 2016 of over $7.7 billion USD. Brazil isalso the main destination for direct MexicaninvestmentinLatinAmerica.

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MULTILATERALEVENTSANDNEWSINVOLVINGMEXICO

The Undersecretary for North America

InauguratestheTrilateralBusinessDevelopment

MissionforWomeninNorthAmerica

The Undersecretary for North America, CarlosManuelSada, inauguratedtheTrilateralBusinessDevelopment Mission for Women in NorthAmerica with the Canadian ambassador toMexico,PierreAlarie,andtheMinisterCounselorforPublicAffairs at theU.S. embassy inMexico,SusanElbow.Theevent,whichwasattendedbyover80entrepreneursandbusinesswomenfromthethreecountries,wasorganizedbytheForeignMinistry in collaboration with ProMexico, theembassies of Canada and the United States inMexico and the Women's Forum Mexico. Themission's goal is to boost women's economicengagementand theirparticipation in theNorthAmericanregionalmarket.

MinisterswillnotattendthefithroundofNAFTA

ThetradeministersofMexico,theUnitedStatesand Canada will not attend the fifth round ofNAFTA negotiations. This will be the first timethat a round of negotiations does not have thepresenceofthe3ministers.TheymetseparatelyduringthemeetingsoftheAsia-PacificEconomicCooperation forum in Vietnam, and instructedthe NAFTA negotiating heads to focus onadvancingthediscussionsonproposalspresentedasmuchaspossible.

InaugurationofAPECsummitinVietnam

Governors of the 21 member countries willdiscuss issues focused on promoting sustainablegrowth and regional connectivity. The XXVSummit of Leaders of the Asia-Pacific EconomicCooperationForum(APEC)2017wasinauguratedthis Saturday in theVietnamese city ofDaNang

under the chairmanship of the host president,Tran Dai Quang. The head of the State made aspeechtostartthesessionfocusedon'Innovativegrowth, inclusive development and sustainableemploymentinthedigitalera'.Vietnamproposedfour priorities: sustainable and inclusivedevelopment, connectivity of companies in thedigitalera,strengtheningoffoodsecurityandtheproblem of agriculture in the face of climatechange. The APEC is composed of Australia,Brunei, Canada, Chile, China, United States,Philippines,HongKong(China), Indonesia,Japan,Malaysia, Mexico, New Zealand, Papua NewGuinea, Peru, Russia, Singapore, South Korea,Taiwan,ThailandandVietnam.

COMMERCIALNEWSFROMBELIZE

ModestEconomicGrowthinThirdQuarter;Hotel

AccommodationsDown

TheGross Domestic Product grew by zero pointfivepercentforthelastquarter.AccordingtotheStatisticInstituteofBelize,thisisonparwithlastyear’sgrowthforthesameperiod.Productioninbananasdroppedbyfourpercentandlobsterandshrimpcombinedsawafifteenpercentdecreaseinproduction.Buttherewassomegoodnewsforlivestock,which recorded an increase. Economicactivities within the manufacturing and miningsectors dropped by twelve point six percentreflecting mainly in decreases in beverageproduction and petroleum extraction of roughlyseventeen point five and twenty-four point fivepercent respectively. Flour on the other handrecorded an increase of two point four percent.The tertiary industry which accounts for morethanhalf ofBelize’s total economygrewby twopoint six percent. SIB says that revenues forhotels accommodation dropped by almost eightpercent.

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PremiumFuelPricestobeReduced,Stabilized

Fuel prices remain relatively high despitecontinuous protest. Premium fuel retails atelevendollarsandninety-twocents,comparedtoten dollars and fifty-three cents after a pricedecrease was announced at the start of June.After a crunchingprice rise forboth regular anddiesel, regular has registered ameasly decreaseand is at ten dollars and thirteen cents; dieselremainsaboveninedollars.ReliefwaspromisedbythePrimeMinister,but isstill longincoming.But according to Financial Secretary JosephWaight, a reduction is headed for non-Petrocaribe sourced premium fuel. He alsowarned, that thismaybe the lastdecrease seenfortimeduetointernationalissueswithoil.

Cabinet says “no” to 90million for Belize Bank

Cabinet met in Belmopan, where the membersdecided unanimously that the UDPRepresentatives in the House will vote "no" topaying90.6milliondollarstotheBelizeBank.ThePrime Minister will outline the formal position.The CCJ granted permission for the Belize BankLimited to enforce a 2013 arbitration awardagainst the Government of Belize. The effect ofthe court's order is that the Executive, throughtheMinisterofFinancemusttakethe90.6milliondollar appropriations motion to the Legislatureforapproval-sothelineisveryblurredbetweenexecutiveandlegislature.

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APPENDIX-STATISTICS

INDIA-BELIZE

I.BilateralTrade(Belize-India)inJanuary-Oct2017comparedtoJanuary-October2016(FiguresinThousandUSD)

Export Import Total Growthinpercentageof

Belize’s Exports in 2017

over2016

Growth in percentage of

Belize’sImportsin2017over

2016

Belize’stradewithIndia

1,441

9,972

11,413

255.7%

-11.21%

Belize’stotalglobaltrade

261,292

726,750

988,043

21.48%

-5.27%

II.BelizeExportStatisticsToIndiaCommodity:_Total,AllCommodityChapters

YearToDate:January-October

Commodity DescriptionUnitedStatesDollars %Change

2015 2016 2017 2017/2016

_Total AllCommodityChapters

16,288,433

11,231,108 9,972,278 -11.21

24 TobaccoAndManufacturedTobaccoSubstitutes 8,417,970 6,960,665 6,519,856 -6.3361 ApparelArticlesAndAccessories,KnitOrCrochet 826,971 1,073,255 857,476 -20.1162 ApparelArticlesAndAccessories,NotKnitEtc. 396,797 650,927 486,058 -25.3372 IronAndSteel 410,149 510,741 587,609 15.0530 PharmaceuticalProducts 610,519 274,103 352,203 28.4938 MiscellaneousChemicalProducts 154,232 391,738 171,761 -56.15

68ArtOfStone,Plaster,Cement,Asbestos,MicaEtc. 40,112 34,704 93,688 169.97

63TextileArtNesoi;NeedlecraftSets;WornTextArt 172,434 83,833 202,846 141.96

84 NuclearReactors,Boilers,MachineryEtc.;Parts 3,664,801 269,918 75,088 -72.1840 RubberAndArticlesThereof 205,520 117,522 69,701 -40.69

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III.BelizeExportStatisticsToIndia

Commodity:_Total,AllCommodityChapters

YearToDate:January-October

Commodity DescriptionUnitedStatesDollars %Change

2015 2016 2017 2017/2016

_Total AllCommodityChapters 1,093,145 405,300 1,441,642 255.70

23FoodIndustryResidues&Waste;PrepAnimalFeed 47,557 125,697 792,148 530.2

07 EdibleVegetables&CertainRoots&Tubers 0 0 211,792 n/a

61ApparelArticlesAndAccessories,KnitOrCrochet 43,889 0 249,919 n/a

44 WoodAndArticlesOfWood;WoodCharcoal 0 0 88,716 n/a62 ApparelArticlesAndAccessories,NotKnitEtc. 23,045 0 52,002 n/a71 NatEtcPearls,PrecEtcStones,PrMetEtc;Coin 41,475 15,173 28,309 86.5842 LeatherArt;SaddleryEtc;HandbagsEtc;GutArt 10,508 0 15,760 n/a

63TextileArtNesoi;NeedlecraftSets;WornTextArt 0 0 1,376 n/a

65 HeadgearAndPartsThereof 0 0 693 n/a22 Beverages,SpiritsAndVinegar 2,084 30,862 0 -100

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APPENDIX-STATISTICS

INDIA-MEXICO

I.BilateralTradeinJanuary-September2017comparedtoJanuary-September2016(FiguresinMillionUSD)

Export Import Total Growth in percentage of

Mexico’s Exports in 2017

over2016

Growthinpercentageof

Mexico’s Imports in

2017over2016

Mexico’stradewithIndia

1,985

3,740

5,725

63.59%

16.89%

Mexico’stotalglobaltrade

299,270

308,339

607,609

9.38%

7.77%

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II.MexicoImportStatisticsFromIndia

January-September

HSCode Commodity

UnitedStatesThousdandsofDollars %Change

2015 2016 2017 2017/2016

_Total AllCommodityChapters 3,087,103 3,199,830 3,740,230 16.89

87Vehicles,ExceptRailwayOrTramway,AndPartsEtc 818,323 1,218,269 1,482,280 21.67

29 OrganicChemicals 310,613 260,966 305,457 17.05

84 NuclearReactors,Boilers,MachineryEtc.;Parts 223,221 234,423 305,477 30.31

85ElectricMachineryEtc;SoundEquip;TvEquip;Pts 232,845 219,800 248,855 13.22

76 AluminumAndArticlesThereof 337,580 151,639 160,941 6.13

72 IronAndSteel 76,295 68,355 133,254 94.94

98 SpecialClassificationProvisions,Nesoi 76,852 80,771 98,760 22.27

62 ApparelArticlesAndAccessories,NotKnitEtc. 76,820 84,570 81,110 -4.09

39 PlasticsAndArticlesThereof 76,140 73,011 76,123 4.26

69 CeramicProducts 3,890 16,889 67,029 296.89

71 NatEtcPearls,PrecEtcStones,PrMetEtc;Coin 3,890 16,889 67,029 296.89

90Optic,PhotoEtc,MedicOrSurgicalInstrmentsEtc 44,202 48,747 57,570 18.10

61 ApparelArticlesAndAccessories,KnitOrCrochet 69,195 63,135 56,295 -10.83

73 ArticlesOfIronOrSteel 126,350 50,815 54,712 7.67

30 PharmaceuticalProducts 63,020 77,438 57,340 -25.95

32 Tanning&DyeExtEtc;Dye,Paint,PuttyEtc;Inks 51,349 52,853 52,765 -0.17

40 RubberAndArticlesThereof 39,215 34,042 38,333 12.61

09 Coffee,Tea,Mate&Spices 25,260 20,809 30,877 48.39

38 MiscellaneousChemicalProducts 26,827 32,428 33,289 2.65

54ManmadeFilaments,IncludingYarns&WovenFabrics 30,104 23,424 27,726 18.37

12 OilSeedsEtc.;MiscGrain,Seed,Fruit,PlantEtc 14,064 18,666 26,127 39.97

15

III.MexicoExportStatisticsToIndia

January-September

HSCode Commodity

UnitedStatesThousandsofDollars %Change

2015 2016 2017 2017/2016

_Total AllCommodityChapters

1,451,217 1,213,576 1,985,325 63.59

27MineralFuel,OilEtc.;BituminSubst;MineralWax

1,094,773 875,964 1,434,404 63.75

85ElectricMachineryEtc;SoundEquip;TvEquip;Pts

106,160 94,291 221,828 135.26

71 NatEtcPearls,PrecEtcStones,PrMetEtc;Coin14,048 23,673 81,831 245.67

84 NuclearReactors,Boilers,MachineryEtc.;Parts69,697 55,070 62,723 13.90

87Vehicles,ExceptRailwayOrTramway,AndPartsEtc

57,086 39,575 40,806 3.11

29 OrganicChemicals18,019 30,824 27,271 -11.53

32 Tanning&DyeExtEtc;Dye,Paint,PuttyEtc;Inks6,404 11,493 22,457 95.40

72 IronAndSteel18,257 6,843 12,238 78.84

30 PharmaceuticalProducts2,940 3,899 8,328 113.62

74 CopperAndArticlesThereof2,234 86 7,721 8857.59

16

IV.MexicoImportStatisticsFromWorld

January-September

HSCode Commodity

UnitedStatesThousandsofDollars %Change

2015 2016 2017 2017/2016

_Total AllCommodityChapters

295,152,618 286,101,977 308,339,427 7.77

85ElectricMachineryEtc;SoundEquip;TvEquip;Pts

62,487,876 62,519,106 62,980,495 0.74

84 NuclearReactors,Boilers,MachineryEtc.;Parts50,650,602 49,862,932 52,089,127 4.46

87Vehicles,ExceptRailwayOrTramway,AndPartsEtc

27,319,961 27,457,501 30,391,806 10.69

27MineralFuel,OilEtc.;BituminSubst;MineralWax

20,494,778 17,339,978 24,733,479 42.64

39 PlasticsAndArticlesThereof16,705,889 16,596,514 17,178,125 3.50

90Optic,PhotoEtc,MedicOrSurgicalInstrmentsEtc

10,804,092 10,356,843 11,006,664 6.27

98 SpecialClassificationProvisions,Nesoi8,446,370 9,184,486 10,661,131 16.08

72 IronAndSteel7,260,297 6,278,380 7,711,022 22.82

73 ArticlesOfIronOrSteel7,023,640 6,500,358 7,081,032 8.93

29 OrganicChemicals6,366,168 5,468,552 6,582,514 20.37

17

V.MexicoExportStatisticsToWorldJanuary-September

HSCode Commodity

UnitedStatesThousandsofDollars %Change

2015 2016 2017 2017/2016

_Total AllCommodityChapters

284,648,524 273,612,688 299,270,499 9.38

87Vehicles,ExceptRailwayOrTramway,AndPartsEtc

67,749,758 64,347,654 73,959,183 14.94

85ElectricMachineryEtc;SoundEquip;TvEquip;Pts

58,473,765 54,502,951 59,303,238 8.81

84 NuclearReactors,Boilers,MachineryEtc.;Parts44,173,310 45,734,289 48,769,601 6.64

27MineralFuel,OilEtc.;BituminSubst;MineralWax

18,222,657 12,841,477 15,490,398 20.63

90Optic,PhotoEtc,MedicOrSurgicalInstrmentsEtc

11,194,046 12,032,607 12,831,524 6.64

94Furniture;BeddingEtc;LampsNesoiEtc;PrefabBd

7,261,645 7,637,851 7,935,795 3.90

39 PlasticsAndArticlesThereof6,224,905 6,238,150 6,719,125 7.71

07 EdibleVegetables&CertainRoots&Tubers4,298,572 5,028,382 4,973,970 -1.08

71 NatEtcPearls,PrecEtcStones,PrMetEtc;Coin5,393,021 5,682,643 5,194,911 -8.58

08 EdibleFruit&Nuts;CitrusFruitOrMelonPeel3,590,450 3,878,130 4,951,266 27.67

18

VI.MexicoImportStatistics

January-September

PartnerCountryUnitedStatesThousandsofDollars %Change

2015 2016 2017 2017/2016

World295,152,618 286,101,977 308,339,427 7.77

UnitedStates140,388,496 132,319,651 142,878,053 7.98

China51,529,696 51,642,432 53,803,313 4.18

Japan12,801,516 13,027,218 13,592,255 4.34

Germany10,436,622 10,296,541 12,181,430 18.31

KoreaSouth11,130,984 10,006,833 11,643,534 16.36

Canada7,281,304 7,139,324 7,077,242 -0.87

Malaysia5,352,028 6,080,164 5,733,947 -5.69

Taiwan4,899,299 4,946,819 5,404,301 9.25

Italy3,732,007 3,938,663 4,503,654 14.34

Thailand3,581,406 3,831,021 4,277,080 11.64

Brazil3,355,475 3,533,885 3,970,637 12.36

India(12th)3,087,103 3,199,830 3,740,230 16.89

Spain3,428,696 3,394,501 3,643,385 7.33

Vietnam2,676,707 2,923,222 3,473,929 18.84

19

VII.MexicoExportStatistics

January-September

PartnerCountryUnitedStatesThousandsofDollars %Change

2015 2016 2017 2017/2016

World284,648,524 273,612,688 299,270,499 9.38

UnitedStates229,792,326 221,967,783 240,326,228 8.27

Canada7,972,927 7,808,976 8,293,353 6.20

China3,661,435 3,605,544 4,930,558 36.75

Germany2,780,179 2,640,113 4,850,462 83.72

Spain2,859,605 2,331,085 3,092,830 32.68

Japan2,228,328 2,631,061 2,767,472 5.18

Brazil3,128,907 2,188,425 2,504,925 14.46

Colombia2,644,644 2,267,159 2,439,712 7.61

KoreaSouth2,085,058 1,790,112 2,376,795 32.77

India(10th)1,451,218 1,213,576 1,985,325 63.59

UnitedKingdom1,379,375 2,466,836 1,677,246 -32.01

20

VIII.MexicoTotalTrade

January-September

PartnerCountryUnitedStatesDollars %Change

2017/2016

2015 2016 2017

World579,801,142 559,714,665 607,609,926 8.56

UnitedStates370,180,822 354,287,434 383,204,282 8.16

China55,191,131 55,247,976 58,733,871 6.31

Germany13,216,801 12,936,654 17,031,892 31.66

Japan15,029,844 15,658,279 16,359,728 4.48

Canada15,254,232 14,948,300 15,370,595 2.83

KoreaSouth13,216,041 11,796,945 14,020,330 18.85

Spain6,288,301 5,725,586 6,736,215 17.65

Malaysia6,484,382 5,722,310 6,475,562 13.16

Brazil6,484,382 5,722,310 6,475,562 13.16

Taiwan5,110,635 5,114,842 5,707,597 11.59

India(10th)4,538,320 4,413,406 5,725,555 29.73

Italy4,969,138 5,152,431 5,448,381 5.74

Thailand3,803,618 4,105,151 4,739,854 15.46