MercoPress. South Atlantic News Agency

Mexico confirms leadership

Mexico clearly emerged in 2001 as the leading Latinamerican economy, leaving Brazil in a second place, according to the latest reports on the top ranked 500 companies of the region.

During 2000, overall sales of Mexican companies listed in the top 500, for the first times ever, were above their main competitor. However Brazil still figured with a greater number of companies.

But in 2001, Mexican companies' sales consolidated with 456 billion US dollars equivalent to 53% of the total 500 sales, while Brazil recorded 259 billion that is 29%.

Last year in the top ranked 500 companies, 217 are Mexican and 165 Brazilian. Regarding earnings both countries reached a draw, 20 Mexican and 20 Brazilian companies figure among the 50 with the largest earnings. In 2000, Brazil led with 26 companies and Mexico followed with twelve.

As far as exports, Mexican companies lead comfortably with 55% among the top 500 companies in the region followed by Venezuela 26% and Brazil 14%.

Oil companies figure with the largest earnings: Petrobras 4,3 billion US dollars; Pdvsa (Venezuela's oil consortium) 4 billion and Pemex, 3,5 billion US dollars.

Another prosperous sector in 2001 was electricity, particularly in Brazil, where six public utilities figure among the 50 companies with highest earnings: this however must be pointed out coincided with one of Brazil's most severe energy shortages.

Another factor that needs to be taken into account regarding the top ranked 500 companies in the region is that while Mexico has a strong currency, the Brazilian Real has consistently depreciated since the January '99 devaluation.