<?xml version="1.0" encoding="US-ASCII" standalone="no" ?>
<!-- DFS Xcelerate Taxonomy Labels Linkbase - http://www.dfsco.com/financial-services/ -->
<!-- Version: 6.23.6 -->
<!-- Round: 10 -->
<!-- Creation date: 2018-04-24T15:17:12Z -->
<!-- Copyright (c) 2017 Donnelley Financial, LLC. All Rights Reserved. -->
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  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" xlink:type="simple"/>
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  <labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember" xlink:label="ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember" xlink:type="locator"/>
    <label id="id_13222622_2935320_1_1" xlink:label="ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Abnormally large changes in asset prices or foreign exchange rates [member]</label>
    <label id="id_13222622_2935320_2_1" xlink:label="ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in foreign exchange rates [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember" xlink:to="ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccountsPayable" xlink:label="fmx_AccountsPayable" xlink:type="locator"/>
    <label id="id_13222622_2970888_3_1" xlink:label="fmx_AccountsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts payable.</label>
    <label id="id_13222622_2970888_1_1" xlink:label="fmx_AccountsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable</label>
    <label id="id_13222622_2970888_2_1" xlink:label="fmx_AccountsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccountsPayable" xlink:to="fmx_AccountsPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccountsPayable1Member" xlink:label="fmx_AccountsPayable1Member" xlink:type="locator"/>
    <label id="id_13222622_3008109_3_1" xlink:label="fmx_AccountsPayable1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts payable 1.</label>
    <label id="id_13222622_3008109_1_1" xlink:label="fmx_AccountsPayable1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Payable 1 [Member]</label>
    <label id="id_13222622_3008109_2_1" xlink:label="fmx_AccountsPayable1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts payable [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccountsPayable1Member" xlink:to="fmx_AccountsPayable1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccountsReceivable" xlink:label="fmx_AccountsReceivable" xlink:type="locator"/>
    <label id="id_13222622_2971664_3_1" xlink:label="fmx_AccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts receivable.</label>
    <label id="id_13222622_2971664_1_1" xlink:label="fmx_AccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts receivable</label>
    <label id="id_13222622_2971664_2_1" xlink:label="fmx_AccountsReceivable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccountsReceivable" xlink:to="fmx_AccountsReceivable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccountsReceivable1Member" xlink:label="fmx_AccountsReceivable1Member" xlink:type="locator"/>
    <label id="id_13222622_3008204_3_1" xlink:label="fmx_AccountsReceivable1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts receivable.</label>
    <label id="id_13222622_3008204_1_1" xlink:label="fmx_AccountsReceivable1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable 1 [member]</label>
    <label id="id_13222622_3008204_2_1" xlink:label="fmx_AccountsReceivable1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccountsReceivable1Member" xlink:to="fmx_AccountsReceivable1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember" xlink:label="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2999624_3_1" xlink:label="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts receivable and other current financial assets.</label>
    <label id="id_13222622_2999624_1_1" xlink:label="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable and Other Current Financial Assets [Member]</label>
    <label id="id_13222622_2999624_2_1" xlink:label="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable and other current financial assets [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember" xlink:to="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccountsReceivableAndOtherFinancialAssetsMember" xlink:label="fmx_AccountsReceivableAndOtherFinancialAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2999626_3_1" xlink:label="fmx_AccountsReceivableAndOtherFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accounts receivable and other financial assets.</label>
    <label id="id_13222622_2999626_1_1" xlink:label="fmx_AccountsReceivableAndOtherFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accounts Receivable and Other Financial Assets [Member]</label>
    <label id="id_13222622_2999626_2_1" xlink:label="fmx_AccountsReceivableAndOtherFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable and other financial assets [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccountsReceivableAndOtherFinancialAssetsMember" xlink:to="fmx_AccountsReceivableAndOtherFinancialAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AccruedInterest" xlink:label="fmx_AccruedInterest" xlink:type="locator"/>
    <label id="id_13222622_2946355_3_1" xlink:label="fmx_AccruedInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The amount of interest accrued but is not yet received.</label>
    <label id="id_13222622_2946355_1_1" xlink:label="fmx_AccruedInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accrued interest</label>
    <label id="id_13222622_2946355_14_1" xlink:label="fmx_AccruedInterest_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Accrued interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccruedInterest" xlink:to="fmx_AccruedInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <label id="id_13222622_2935324_1_1" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated depreciation, amortisation and impairment [member]</label>
    <label id="id_13222622_2935324_2_1" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated depreciation, amortisation and impairment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:to="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2935531_1_1" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income</label>
    <label id="id_13222622_2935531_2_1" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income (loss)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <label id="id_13222622_2935327_1_1" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive income [member]</label>
    <label id="id_13222622_2935327_2_1" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative other comprehensive income [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AcquisitionCost" xlink:label="fmx_AcquisitionCost" xlink:type="locator"/>
    <label id="id_13222622_2954057_3_1" xlink:label="fmx_AcquisitionCost_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition cost</label>
    <label id="id_13222622_2954057_1_1" xlink:label="fmx_AcquisitionCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition cost</label>
    <label id="id_13222622_2954057_2_1" xlink:label="fmx_AcquisitionCost_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition cost</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AcquisitionCost" xlink:to="fmx_AcquisitionCost_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2934057_1_1" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition-date fair value of equity interest in acquiree held by acquirer immediately before acquisition date</label>
    <label id="id_13222622_2934057_2_1" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity interest held previously</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:to="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:type="locator"/>
    <label id="id_13222622_2935328_1_1" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consideration transferred, acquisition-date fair value</label>
    <label id="id_13222622_2935328_2_1" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business acquisition, consideration transferred</label>
    <label id="id_13222622_2935328_12_1" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total consideration transferred</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:to="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee" xlink:label="fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee" xlink:type="locator"/>
    <label id="id_13222622_2954268_3_1" xlink:label="fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition date fair value of total consideration transferred excluding consulting fee.</label>
    <label id="id_13222622_2954268_1_1" xlink:label="fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition Date Fair Value Of Total Consideration Transferred Excluding Consulting Fee</label>
    <label id="id_13222622_2954268_2_1" xlink:label="fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consideration transferred</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee" xlink:to="fmx_AcquisitionDateFairValueOfTotalConsiderationTransferredExcludingConsultingFee_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AcquisitionRelatedCostsExpensedAsIncurred" xlink:label="fmx_AcquisitionRelatedCostsExpensedAsIncurred" xlink:type="locator"/>
    <label id="id_13222622_2960398_3_1" xlink:label="fmx_AcquisitionRelatedCostsExpensedAsIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisition related costs expensed as incurred.</label>
    <label id="id_13222622_2960398_1_1" xlink:label="fmx_AcquisitionRelatedCostsExpensedAsIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisition Related Costs Expensed as Incurred</label>
    <label id="id_13222622_2960398_2_1" xlink:label="fmx_AcquisitionRelatedCostsExpensedAsIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction related costs expensed as incurred</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AcquisitionRelatedCostsExpensedAsIncurred" xlink:to="fmx_AcquisitionRelatedCostsExpensedAsIncurred_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AcquisitionsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2949516_3_1" xlink:label="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisitions net defined benefit liability asset.</label>
    <label id="id_13222622_2949516_1_1" xlink:label="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions net defined benefit liability asset.</label>
    <label id="id_13222622_2949516_14_1" xlink:label="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset" xlink:to="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AcquisitionsOfNoncontrollingInterest" xlink:label="fmx_AcquisitionsOfNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_13222622_3043770_3_1" xlink:label="fmx_AcquisitionsOfNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Acquisitions of non-controlling interest</label>
    <label id="id_13222622_3043770_1_1" xlink:label="fmx_AcquisitionsOfNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions of non-controlling interest</label>
    <label id="id_13222622_3043770_14_1" xlink:label="fmx_AcquisitionsOfNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisitions of non-controlling interest (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AcquisitionsOfNoncontrollingInterest" xlink:to="fmx_AcquisitionsOfNoncontrollingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2935533_1_1" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Acquisitions through business combinations, intangible assets and goodwill</label>
    <label id="id_13222622_2935533_2_1" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisitions from business combinations</label>
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    <label id="id_13222622_2934357_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of discount rates</label>
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    <label id="id_13222622_2935333_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rates [member]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:type="locator"/>
    <label id="id_13222622_2935030_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of expected rates of pension increases</label>
    <label id="id_13222622_2935030_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future pension increases</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="locator"/>
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    <label id="id_13222622_2935335_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Salary increase</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <label id="id_13222622_2935031_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of expected rates of salary increases [member]</label>
    <label id="id_13222622_2935031_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Future salary growth [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:to="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:type="locator"/>
    <label id="id_13222622_2934058_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of medical cost trend rates</label>
    <label id="id_13222622_2934058_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Healthcare cost increase rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:to="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:type="locator"/>
    <label id="id_13222622_2935336_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of medical cost trend rates [member]</label>
    <label id="id_13222622_2935336_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Medical cost trend rates [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:to="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935541_1_1" xlink:label="ifrs-full_ActuarialAssumptionsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [axis]</label>
    <label id="id_13222622_2935541_2_1" xlink:label="ifrs-full_ActuarialAssumptionsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsAxis" xlink:to="ifrs-full_ActuarialAssumptionsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <label id="id_13222622_2935339_1_1" xlink:label="ifrs-full_ActuarialAssumptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [member]</label>
    <label id="id_13222622_2935339_2_1" xlink:label="ifrs-full_ActuarialAssumptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial assumptions [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionsMember" xlink:to="ifrs-full_ActuarialAssumptionsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2935341_1_1" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial gains (losses) arising from changes in financial assumptions, net defined benefit liability (asset)</label>
    <label id="id_13222622_2935341_14_1" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Actuarial gains and (losses) arising from changes in financial assumptions</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2935343_1_1" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets</label>
    <label id="id_13222622_2935343_2_1" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for the year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionalPaidinCapital" xlink:label="ifrs-full_AdditionalPaidinCapital" xlink:type="locator"/>
    <label id="id_13222622_2935346_1_1" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional paid-in capital</label>
    <label id="id_13222622_2935346_2_1" xlink:label="ifrs-full_AdditionalPaidinCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-incapital</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapital" xlink:to="ifrs-full_AdditionalPaidinCapital_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionalPaidinCapitalMember" xlink:label="ifrs-full_AdditionalPaidinCapitalMember" xlink:type="locator"/>
    <label id="id_13222622_2935347_1_1" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional paid-in capital [member]</label>
    <label id="id_13222622_2935347_2_1" xlink:label="ifrs-full_AdditionalPaidinCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional paid-in capital [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdditionalPaidinCapitalMember" xlink:to="ifrs-full_AdditionalPaidinCapitalMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund" xlink:label="fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund" xlink:type="locator"/>
    <label id="id_13222622_3024308_3_1" xlink:label="fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Additional tax for the contribution of poverty eradication fund.</label>
    <label id="id_13222622_3024308_1_1" xlink:label="fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additional tax for the contribution of poverty eradication fund</label>
    <label id="id_13222622_3024308_2_1" xlink:label="fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additional Contribution to poverty eradication</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_AdditionsFromBusinessCombinationsTradeReceivables" xlink:label="fmx_AdditionsFromBusinessCombinationsTradeReceivables" xlink:type="locator"/>
    <label id="id_13222622_2954463_3_1" xlink:label="fmx_AdditionsFromBusinessCombinationsTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Additions from business combinations trade receivables.</label>
    <label id="id_13222622_2954463_1_1" xlink:label="fmx_AdditionsFromBusinessCombinationsTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions From Business Combinations Trade Receivables</label>
    <label id="id_13222622_2954463_2_1" xlink:label="fmx_AdditionsFromBusinessCombinationsTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Addition from business combinations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdditionsFromBusinessCombinationsTradeReceivables" xlink:to="fmx_AdditionsFromBusinessCombinationsTradeReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2935544_1_1" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions other than through business combinations, intangible assets other than goodwill</label>
    <label id="id_13222622_2935544_2_1" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchases</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2934065_1_1" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Additions other than through business combinations, property, plant and equipment</label>
    <label id="id_13222622_2934065_2_1" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_AdeSMember" xlink:label="fmx_AdeSMember" xlink:type="locator"/>
    <label id="id_13222622_3050791_3_1" xlink:label="fmx_AdeSMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">AdeS.</label>
    <label id="id_13222622_3050791_1_1" xlink:label="fmx_AdeSMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">AdeS [member]</label>
    <label id="id_13222622_3050791_2_1" xlink:label="fmx_AdeSMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">AdeS [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdeSMember" xlink:to="fmx_AdeSMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="ifrs-full_AdjustedWeightedAverageShares" xlink:type="locator"/>
    <label id="id_13222622_2935042_1_1" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted weighted average number of ordinary shares outstanding</label>
    <label id="id_13222622_2935042_6_1" xlink:label="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of shares adjusted for the effect of dilution (Shares outstanding)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustedWeightedAverageShares" xlink:to="ifrs-full_AdjustedWeightedAverageShares_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights" xlink:label="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights" xlink:type="locator"/>
    <label id="id_13222622_2973975_3_1" xlink:label="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjusted weighted average shares further adjusted to reflect dividend rights.</label>
    <label id="id_13222622_2973975_1_1" xlink:label="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted Weighted Average Shares Further Adjusted To Reflect Dividend Rights</label>
    <label id="id_13222622_2973975_2_1" xlink:label="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of shares further adjusted to reflect dividend rights</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights" xlink:to="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustmentForGainLossOnSaleOfShares" xlink:label="fmx_AdjustmentForGainLossOnSaleOfShares" xlink:type="locator"/>
    <label id="id_13222622_2956602_3_1" xlink:label="fmx_AdjustmentForGainLossOnSaleOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for gain (loss) on sale of shares.</label>
    <label id="id_13222622_2956602_1_1" xlink:label="fmx_AdjustmentForGainLossOnSaleOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustment For Gain (Loss) On Sale Of Shares</label>
    <label id="id_13222622_2956602_14_1" xlink:label="fmx_AdjustmentForGainLossOnSaleOfShares_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Gain) loss on sale of shares (see Note 19)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustmentForGainLossOnSaleOfShares" xlink:to="fmx_AdjustmentForGainLossOnSaleOfShares_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense" xlink:type="locator"/>
    <label id="id_13222622_2935545_1_1" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for amortisation expense</label>
    <label id="id_13222622_2935545_2_1" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForAmortisationExpense" xlink:to="ifrs-full_AdjustmentsForAmortisationExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="locator"/>
    <label id="id_13222622_2934068_1_1" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for decrease (increase) in inventories</label>
    <label id="id_13222622_2934068_2_1" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="locator"/>
    <label id="id_13222622_2935047_1_1" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for decrease (increase) in trade and other receivables</label>
    <label id="id_13222622_2935047_2_1" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable and other current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:to="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForDepreciationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationExpense" xlink:type="locator"/>
    <label id="id_13222622_2935359_1_1" xlink:label="ifrs-full_AdjustmentsForDepreciationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for depreciation expense</label>
    <label id="id_13222622_2935359_2_1" xlink:label="ifrs-full_AdjustmentsForDepreciationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForDepreciationExpense" xlink:to="ifrs-full_AdjustmentsForDepreciationExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:label="ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:type="locator"/>
    <label id="id_13222622_2935552_1_1" xlink:label="ifrs-full_AdjustmentsForFairValueGainsLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for fair value losses (gains)</label>
    <label id="id_13222622_2935552_2_1" xlink:label="ifrs-full_AdjustmentsForFairValueGainsLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market value loss (gain) on financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:to="ifrs-full_AdjustmentsForFairValueGainsLosses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2935051_1_1" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for gain (loss) on disposals, property, plant and equipment</label>
    <label id="id_13222622_2935051_14_1" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of long-lived assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:type="locator"/>
    <label id="id_13222622_2935052_1_1" xlink:label="ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for gains (losses) on change in fair value of derivatives</label>
    <label id="id_13222622_2935052_14_1" xlink:label="ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:to="ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2935057_1_1" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for impairment loss (reversal of impairment loss) recognised in profit or loss, property, plant and equipment</label>
    <label id="id_13222622_2935057_2_1" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of long-lived assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2954506_3_1" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for increase decrease in other current financial liabilities.</label>
    <label id="id_13222622_2954506_1_1" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments For Increase Decrease In Other Current Financial Liabilities</label>
    <label id="id_13222622_2954506_2_1" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities" xlink:to="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2954532_3_1" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for increase decrease in other financial assets.</label>
    <label id="id_13222622_2954532_1_1" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments For Increase Decrease In Other Financial Assets</label>
    <label id="id_13222622_2954532_2_1" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets" xlink:to="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2935556_1_1" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in other liabilities</label>
    <label id="id_13222622_2935556_2_1" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other long-term liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <label id="id_13222622_2935558_1_1" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for increase (decrease) in trade and other payables</label>
    <label id="id_13222622_2935558_2_1" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Suppliers and other accounts payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:to="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForInterestExpense" xlink:label="ifrs-full_AdjustmentsForInterestExpense" xlink:type="locator"/>
    <label id="id_13222622_2934074_1_1" xlink:label="ifrs-full_AdjustmentsForInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for interest expense</label>
    <label id="id_13222622_2934074_2_1" xlink:label="ifrs-full_AdjustmentsForInterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForInterestExpense" xlink:to="ifrs-full_AdjustmentsForInterestExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForInterestIncome" xlink:label="ifrs-full_AdjustmentsForInterestIncome" xlink:type="locator"/>
    <label id="id_13222622_2935366_1_1" xlink:label="ifrs-full_AdjustmentsForInterestIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for interest income</label>
    <label id="id_13222622_2935366_14_1" xlink:label="ifrs-full_AdjustmentsForInterestIncome_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForInterestIncome" xlink:to="ifrs-full_AdjustmentsForInterestIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2935063_1_1" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for losses (gains) on disposal of non-current assets</label>
    <label id="id_13222622_2935063_2_1" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal of long-lived assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:to="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustmentsForMonetaryPositionGainLossNet" xlink:label="fmx_AdjustmentsForMonetaryPositionGainLossNet" xlink:type="locator"/>
    <label id="id_13222622_2949129_3_1" xlink:label="fmx_AdjustmentsForMonetaryPositionGainLossNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for monetary position gain loss net.</label>
    <label id="id_13222622_2949129_1_1" xlink:label="fmx_AdjustmentsForMonetaryPositionGainLossNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for monetary position gain loss net</label>
    <label id="id_13222622_2949129_2_1" xlink:label="fmx_AdjustmentsForMonetaryPositionGainLossNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restatement effect of the year and beginning balances associated with hyperinflationary economies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustmentsForMonetaryPositionGainLossNet" xlink:to="fmx_AdjustmentsForMonetaryPositionGainLossNet_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses" xlink:label="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses" xlink:type="locator"/>
    <label id="id_13222622_3043325_3_1" xlink:label="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for non cash non-operating (income) expenses.</label>
    <label id="id_13222622_3043325_1_1" xlink:label="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for non cash non-operating (income) expenses</label>
    <label id="id_13222622_3043325_2_1" xlink:label="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash non operating (income) expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses" xlink:to="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdjustmentsForNonCashOperatingExpenses" xlink:label="fmx_AdjustmentsForNonCashOperatingExpenses" xlink:type="locator"/>
    <label id="id_13222622_2949136_3_1" xlink:label="fmx_AdjustmentsForNonCashOperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjustments for non cash operating expenses.</label>
    <label id="id_13222622_2949136_1_1" xlink:label="fmx_AdjustmentsForNonCashOperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for non cash operating expenses</label>
    <label id="id_13222622_2949136_2_1" xlink:label="fmx_AdjustmentsForNonCashOperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash operating expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustmentsForNonCashOperatingExpenses" xlink:to="fmx_AdjustmentsForNonCashOperatingExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator"/>
    <label id="id_13222622_2934075_1_1" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments to reconcile profit (loss) [abstract]</label>
    <label id="id_13222622_2934075_2_1" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjustments for:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:to="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2935562_1_1" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for undistributed profits of investments accounted for using equity method</label>
    <label id="id_13222622_2935562_14_1" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Share of the profit of associates and joint ventures accounted for using the equity method, net of taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:type="locator"/>
    <label id="id_13222622_2935563_1_1" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjustments for unrealised foreign exchange losses (gains)</label>
    <label id="id_13222622_2935563_2_1" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange (gain) loss, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:to="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AdministrativeExpense" xlink:label="ifrs-full_AdministrativeExpense" xlink:type="locator"/>
    <label id="id_13222622_2935564_1_1" xlink:label="ifrs-full_AdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Administrative expenses</label>
    <label id="id_13222622_2935564_2_1" xlink:label="ifrs-full_AdministrativeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Administrative expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AdministrativeExpense" xlink:to="ifrs-full_AdministrativeExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdvancesForInventories" xlink:label="fmx_AdvancesForInventories" xlink:type="locator"/>
    <label id="id_13222622_2948879_3_1" xlink:label="fmx_AdvancesForInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advances for inventories.</label>
    <label id="id_13222622_2948879_1_1" xlink:label="fmx_AdvancesForInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances for inventories</label>
    <label id="id_13222622_2948879_2_1" xlink:label="fmx_AdvancesForInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances for inventories</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdvancesForInventories" xlink:to="fmx_AdvancesForInventories_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdvancesToAcquirePropertyPlantAndEquipment" xlink:label="fmx_AdvancesToAcquirePropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2954767_3_1" xlink:label="fmx_AdvancesToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advances to acquire property plant and equipment.</label>
    <label id="id_13222622_2954767_1_1" xlink:label="fmx_AdvancesToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advances To Acquire Property Plant And Equipment</label>
    <label id="id_13222622_2954767_2_1" xlink:label="fmx_AdvancesToAcquirePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances to acquire property, plant and equipment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdvancesToAcquirePropertyPlantAndEquipment" xlink:to="fmx_AdvancesToAcquirePropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdvertisingAndPromotionalExpensesPaidInAdvance" xlink:label="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance" xlink:type="locator"/>
    <label id="id_13222622_2954457_3_1" xlink:label="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advertising and promotional expenses paid in advance.</label>
    <label id="id_13222622_2954457_1_1" xlink:label="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advertising And Promotional Expenses Paid In Advance</label>
    <label id="id_13222622_2954457_2_1" xlink:label="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advertising and promotional expenses paid in advance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance" xlink:to="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AdvertisingMember" xlink:label="fmx_AdvertisingMember" xlink:type="locator"/>
    <label id="id_13222622_2980496_3_1" xlink:label="fmx_AdvertisingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Advertising [member]</label>
    <label id="id_13222622_2980496_1_1" xlink:label="fmx_AdvertisingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Advertising [member]</label>
    <label id="id_13222622_2980496_2_1" xlink:label="fmx_AdvertisingMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advertising [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdvertisingMember" xlink:to="fmx_AdvertisingMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:label="ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:type="locator"/>
    <label id="id_13222622_2935566_1_1" xlink:label="ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated individually immaterial business combinations [member]</label>
    <label id="id_13222622_2935566_2_1" xlink:label="ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other acquisitions [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:to="ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="ifrs-full_AggregatedMeasurementMember" xlink:type="locator"/>
    <label id="id_13222622_2935567_1_1" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated measurement [member]</label>
    <label id="id_13222622_2935567_2_1" xlink:label="ifrs-full_AggregatedMeasurementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregated measurement [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedMeasurementMember" xlink:to="ifrs-full_AggregatedMeasurementMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <label id="id_13222622_2935069_1_1" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregated time bands [member]</label>
    <label id="id_13222622_2935069_2_1" xlink:label="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregated time bands [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregatedTimeBandsMember" xlink:to="ifrs-full_AggregatedTimeBandsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember" xlink:label="ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2935568_1_1" xlink:label="ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aggregate cash-generating units for which amount of goodwill or intangible assets with indefinite useful lives is not significant [member]</label>
    <label id="id_13222622_2935568_2_1" xlink:label="ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Generating Units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember" xlink:to="ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AgreementWithCustomers" xlink:label="fmx_AgreementWithCustomers" xlink:type="locator"/>
    <label id="id_13222622_2954454_3_1" xlink:label="fmx_AgreementWithCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Agreement with customers.</label>
    <label id="id_13222622_2954454_1_1" xlink:label="fmx_AgreementWithCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Agreement With Customers</label>
    <label id="id_13222622_2954454_2_1" xlink:label="fmx_AgreementWithCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Agreements with customers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AgreementWithCustomers" xlink:to="fmx_AgreementWithCustomers_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AgreementWithCustomersOtherNonCurrentAssets" xlink:label="fmx_AgreementWithCustomersOtherNonCurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2954765_3_1" xlink:label="fmx_AgreementWithCustomersOtherNonCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Agreement with customers other non current assets.</label>
    <label id="id_13222622_2954765_1_1" xlink:label="fmx_AgreementWithCustomersOtherNonCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Agreement With Customers Other Non Current Assets</label>
    <label id="id_13222622_2954765_2_1" xlink:label="fmx_AgreementWithCustomersOtherNonCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Agreement with customers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AgreementWithCustomersOtherNonCurrentAssets" xlink:to="fmx_AgreementWithCustomersOtherNonCurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AlcoholLicensesMember" xlink:label="fmx_AlcoholLicensesMember" xlink:type="locator"/>
    <label id="id_13222622_2990586_3_1" xlink:label="fmx_AlcoholLicensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Alcohol licenses.</label>
    <label id="id_13222622_2990586_1_1" xlink:label="fmx_AlcoholLicensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Alcohol Licenses [Member]</label>
    <label id="id_13222622_2990586_2_1" xlink:label="fmx_AlcoholLicensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Alcohol licenses [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AlcoholLicensesMember" xlink:to="fmx_AlcoholLicensesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <label id="id_13222622_2934458_1_1" xlink:label="currency_AllCurrenciesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</label>
    <label id="id_13222622_2934458_2_1" xlink:label="currency_AllCurrenciesDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All Currencies [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_AllCurrenciesDomain" xlink:to="currency_AllCurrenciesDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <label id="id_13222622_2934080_1_1" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">All levels of fair value hierarchy [member]</label>
    <label id="id_13222622_2934080_2_1" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">All levels of fair value hierarchy [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:to="ifrs-full_AllLevelsOfFairValueHierarchyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AllocationOfEarningsPercentageWeightedAverage" xlink:label="fmx_AllocationOfEarningsPercentageWeightedAverage" xlink:type="locator"/>
    <label id="id_13222622_3021060_3_1" xlink:label="fmx_AllocationOfEarningsPercentageWeightedAverage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Allocation of earnings percentage weighted average.</label>
    <label id="id_13222622_3021060_1_1" xlink:label="fmx_AllocationOfEarningsPercentageWeightedAverage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allocation Of Earnings Percentage Weighted Average</label>
    <label id="id_13222622_3021060_2_1" xlink:label="fmx_AllocationOfEarningsPercentageWeightedAverage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allocation of earnings, weighted</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AllocationOfEarningsPercentageWeightedAverage" xlink:to="fmx_AllocationOfEarningsPercentageWeightedAverage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2935571_1_1" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance account for credit losses of financial assets</label>
    <label id="id_13222622_2935571_4_1" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2935571_5_1" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Opening balance</label>
    <label id="id_13222622_2935571_14_1" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AllowanceForDoubtfulAccountsMember" xlink:label="us-gaap_AllowanceForDoubtfulAccountsMember" xlink:type="locator"/>
    <label id="id_13222622_2917209_1_1" xlink:label="us-gaap_AllowanceForDoubtfulAccountsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Allowance for Doubtful Accounts [Member]</label>
    <label id="id_13222622_2917209_2_1" xlink:label="us-gaap_AllowanceForDoubtfulAccountsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Allowance for doubtful accounts [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsMember" xlink:to="us-gaap_AllowanceForDoubtfulAccountsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AluminiumPriceContractsMember" xlink:label="fmx_AluminiumPriceContractsMember" xlink:type="locator"/>
    <label id="id_13222622_2992623_3_1" xlink:label="fmx_AluminiumPriceContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Aluminium price contracts.</label>
    <label id="id_13222622_2992623_1_1" xlink:label="fmx_AluminiumPriceContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aluminium Price Contracts [Member]</label>
    <label id="id_13222622_2992623_2_1" xlink:label="fmx_AluminiumPriceContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aluminum price contracts [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AluminiumPriceContractsMember" xlink:to="fmx_AluminiumPriceContractsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <label id="id_13222622_2934497_1_1" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amendment Flag</label>
    <label id="id_13222622_2934497_2_1" xlink:label="dei_AmendmentFlag_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmortisationExpense" xlink:label="ifrs-full_AmortisationExpense" xlink:type="locator"/>
    <label id="id_13222622_2935573_1_1" xlink:label="ifrs-full_AmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation expense</label>
    <label id="id_13222622_2935573_2_1" xlink:label="ifrs-full_AmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortisation expense related to net income attributable to equity holders</label>
    <label id="id_13222622_2935573_6_1" xlink:label="ifrs-full_AmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <label id="id_13222622_2935573_12_1" xlink:label="ifrs-full_AmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Amortization expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationExpense" xlink:to="ifrs-full_AmortisationExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AmortisationExpenseReportedInAdministrativeExpenses" xlink:label="fmx_AmortisationExpenseReportedInAdministrativeExpenses" xlink:type="locator"/>
    <label id="id_13222622_2954781_3_1" xlink:label="fmx_AmortisationExpenseReportedInAdministrativeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortisation expense reported in administrative expenses.</label>
    <label id="id_13222622_2954781_1_1" xlink:label="fmx_AmortisationExpenseReportedInAdministrativeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation Expense Reported in Administrative Expenses</label>
    <label id="id_13222622_2954781_2_1" xlink:label="fmx_AmortisationExpenseReportedInAdministrativeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Administrative expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AmortisationExpenseReportedInAdministrativeExpenses" xlink:to="fmx_AmortisationExpenseReportedInAdministrativeExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AmortisationExpenseReportedInCostOfGoodsSold" xlink:label="fmx_AmortisationExpenseReportedInCostOfGoodsSold" xlink:type="locator"/>
    <label id="id_13222622_2954780_3_1" xlink:label="fmx_AmortisationExpenseReportedInCostOfGoodsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortisation expense reported in cost of goods sold.</label>
    <label id="id_13222622_2954780_1_1" xlink:label="fmx_AmortisationExpenseReportedInCostOfGoodsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation Expense Reported in Cost of Goods Sold</label>
    <label id="id_13222622_2954780_2_1" xlink:label="fmx_AmortisationExpenseReportedInCostOfGoodsSold_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of goods sold</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AmortisationExpenseReportedInCostOfGoodsSold" xlink:to="fmx_AmortisationExpenseReportedInCostOfGoodsSold_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AmortisationExpenseReportedInSellingExpenses" xlink:label="fmx_AmortisationExpenseReportedInSellingExpenses" xlink:type="locator"/>
    <label id="id_13222622_2954782_3_1" xlink:label="fmx_AmortisationExpenseReportedInSellingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Amortisation expense reported in selling expenses.</label>
    <label id="id_13222622_2954782_1_1" xlink:label="fmx_AmortisationExpenseReportedInSellingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation Expense Reported in Selling Expenses</label>
    <label id="id_13222622_2954782_2_1" xlink:label="fmx_AmortisationExpenseReportedInSellingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AmortisationExpenseReportedInSellingExpenses" xlink:to="fmx_AmortisationExpenseReportedInSellingExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2935073_1_1" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortisation, intangible assets other than goodwill</label>
    <label id="id_13222622_2935073_2_1" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amortization expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AmortisedIntangibleAssetsMember" xlink:label="fmx_AmortisedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2990587_3_1" xlink:label="fmx_AmortisedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total amortized intangible assets.</label>
    <label id="id_13222622_2990587_1_1" xlink:label="fmx_AmortisedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amortised Intangible Assets [Member]</label>
    <label id="id_13222622_2990587_2_1" xlink:label="fmx_AmortisedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total amortized intangible assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AmortisedIntangibleAssetsMember" xlink:to="fmx_AmortisedIntangibleAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2935384_1_1" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amounts payable, related party transactions</label>
    <label id="id_13222622_2935384_2_1" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Account payables with related party transactions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsPayableRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2935078_1_1" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Amounts receivable, related party transactions</label>
    <label id="id_13222622_2935078_2_1" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Account receivable with related party transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:to="ifrs-full_AmountsReceivableRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:label="ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:type="locator"/>
    <label id="id_13222622_2934095_1_1" xlink:label="ifrs-full_AnalysisOfIncomeAndExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Analysis of income and expense [abstract]</label>
    <label id="id_13222622_2934095_2_1" xlink:label="ifrs-full_AnalysisOfIncomeAndExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Analysis of income and expense [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:to="ifrs-full_AnalysisOfIncomeAndExpenseAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ifrs-full_ApplicableTaxRate" xlink:type="locator"/>
    <label id="id_13222622_2935585_1_1" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Applicable tax rate</label>
    <label id="id_13222622_2935585_2_1" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax rate</label>
    <label id="id_13222622_2935585_12_1" xlink:label="ifrs-full_ApplicableTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Mexican statutory income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ApplicableTaxRate" xlink:to="ifrs-full_ApplicableTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_AR" xlink:label="country_AR" xlink:type="locator"/>
    <label id="id_13222622_2933161_1_1" xlink:label="country_AR_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ARGENTINA</label>
    <label id="id_13222622_2933161_2_1" xlink:label="country_AR_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Argentina [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_AR" xlink:to="country_AR_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis" xlink:type="locator"/>
    <label id="id_13222622_2935587_1_1" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrangements involving legal form of lease [axis]</label>
    <label id="id_13222622_2935587_2_1" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrangements involving legal form of lease [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis" xlink:to="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember" xlink:type="locator"/>
    <label id="id_13222622_2935588_1_1" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Arrangements involving legal form of lease [member]</label>
    <label id="id_13222622_2935588_2_1" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Arrangements involving legal form of lease [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember" xlink:to="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_ARS" xlink:label="currency_ARS" xlink:type="locator"/>
    <label id="id_13222622_2934157_1_1" xlink:label="currency_ARS_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Argentina, Pesos</label>
    <label id="id_13222622_2934157_2_1" xlink:label="currency_ARS_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Argentine peso [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_ARS" xlink:to="currency_ARS_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_AsiaMember" xlink:label="us-gaap_AsiaMember" xlink:type="locator"/>
    <label id="id_13222622_2916846_1_1" xlink:label="us-gaap_AsiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asia [Member]</label>
    <label id="id_13222622_2916846_2_1" xlink:label="us-gaap_AsiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asia [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AsiaMember" xlink:to="us-gaap_AsiaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <label id="id_13222622_2935592_1_1" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets</label>
    <label id="id_13222622_2935592_2_1" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</label>
    <label id="id_13222622_2935592_6_1" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</label>
    <label id="id_13222622_2935592_12_1" xlink:label="ifrs-full_Assets_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Assets" xlink:to="ifrs-full_Assets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935082_1_1" xlink:label="ifrs-full_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [abstract]</label>
    <label id="id_13222622_2935082_2_1" xlink:label="ifrs-full_AssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AssetsAbstract" xlink:to="ifrs-full_AssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AssetsAcquisitionsThroughForeignCurrency" xlink:label="fmx_AssetsAcquisitionsThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_13222622_2950646_3_1" xlink:label="fmx_AssetsAcquisitionsThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets acquisitions through foreign currency.</label>
    <label id="id_13222622_2950646_1_1" xlink:label="fmx_AssetsAcquisitionsThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Acquisitions Through Foreign Currency</label>
    <label id="id_13222622_2950646_2_1" xlink:label="fmx_AssetsAcquisitionsThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Asset Acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AssetsAcquisitionsThroughForeignCurrency" xlink:to="fmx_AssetsAcquisitionsThroughForeignCurrency_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AssetsBalanceWithRelatedPartyTransaction" xlink:label="fmx_AssetsBalanceWithRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2949287_3_1" xlink:label="fmx_AssetsBalanceWithRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets Balance With Related Party Transaction</label>
    <label id="id_13222622_2949287_1_1" xlink:label="fmx_AssetsBalanceWithRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets Balance With Related Party Transaction</label>
    <label id="id_13222622_2949287_2_1" xlink:label="fmx_AssetsBalanceWithRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets balance with related party transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AssetsBalanceWithRelatedPartyTransaction" xlink:to="fmx_AssetsBalanceWithRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AssetsRecognisedAsOfAcquisitionDate" xlink:label="fmx_AssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2949189_3_1" xlink:label="fmx_AssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Assets recognised as of acquisition date.</label>
    <label id="id_13222622_2949189_1_1" xlink:label="fmx_AssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets recognised as of acquisition date</label>
    <label id="id_13222622_2949189_6_1" xlink:label="fmx_AssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AssetsRecognisedAsOfAcquisitionDate" xlink:to="fmx_AssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AtFairValueMember" xlink:label="ifrs-full_AtFairValueMember" xlink:type="locator"/>
    <label id="id_13222622_2934104_1_1" xlink:label="ifrs-full_AtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">At fair value [member]</label>
    <label id="id_13222622_2934104_2_1" xlink:label="ifrs-full_AtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AtFairValueMember" xlink:to="ifrs-full_AtFairValueMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_AtlasTransportesELogisticaMember" xlink:label="fmx_AtlasTransportesELogisticaMember" xlink:type="locator"/>
    <label id="id_13222622_2990384_3_1" xlink:label="fmx_AtlasTransportesELogisticaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Atlas Transportes e Logistica.</label>
    <label id="id_13222622_2990384_1_1" xlink:label="fmx_AtlasTransportesELogisticaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Atlas Transportes E Logistica [Member]</label>
    <label id="id_13222622_2990384_2_1" xlink:label="fmx_AtlasTransportesELogisticaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Atlas Transportes e Logistica [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AtlasTransportesELogisticaMember" xlink:to="fmx_AtlasTransportesELogisticaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="ifrs-full_AverageForeignExchangeRate" xlink:type="locator"/>
    <label id="id_13222622_2934107_1_1" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Average foreign exchange rate</label>
    <label id="id_13222622_2934107_2_1" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average Exchange Rate for</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_AverageForeignExchangeRate" xlink:to="ifrs-full_AverageForeignExchangeRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BakedGoodsAndSnacksMember" xlink:label="fmx_BakedGoodsAndSnacksMember" xlink:type="locator"/>
    <label id="id_13222622_2986978_3_1" xlink:label="fmx_BakedGoodsAndSnacksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Baked goods and snacks.</label>
    <label id="id_13222622_2986978_1_1" xlink:label="fmx_BakedGoodsAndSnacksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Baked Goods And Snacks [Member]</label>
    <label id="id_13222622_2986978_2_1" xlink:label="fmx_BakedGoodsAndSnacksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Baked goods and snacks [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BakedGoodsAndSnacksMember" xlink:to="fmx_BakedGoodsAndSnacksMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BancoMercantilDelNorteSAMember" xlink:label="fmx_BancoMercantilDelNorteSAMember" xlink:type="locator"/>
    <label id="id_13222622_3045175_3_1" xlink:label="fmx_BancoMercantilDelNorteSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Banco Mercantil del Norte S.A.</label>
    <label id="id_13222622_3045175_1_1" xlink:label="fmx_BancoMercantilDelNorteSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Banco Mercantil del Norte S.A. [member]</label>
    <label id="id_13222622_3045175_2_1" xlink:label="fmx_BancoMercantilDelNorteSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Banco Mercantil del Norte S.A. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BancoMercantilDelNorteSAMember" xlink:to="fmx_BancoMercantilDelNorteSAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:type="locator"/>
    <label id="id_13222622_2935610_1_1" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank borrowings, undiscounted cash flows</label>
    <label id="id_13222622_2935610_2_1" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans from banks</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:to="ifrs-full_BankBorrowingsUndiscountedCashFlows_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BankInstrumentsMember" xlink:label="fmx_BankInstrumentsMember" xlink:type="locator"/>
    <label id="id_13222622_2984558_3_1" xlink:label="fmx_BankInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank instruments.</label>
    <label id="id_13222622_2984558_1_1" xlink:label="fmx_BankInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Instruments [member]</label>
    <label id="id_13222622_2984558_2_1" xlink:label="fmx_BankInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank instruments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BankInstrumentsMember" xlink:to="fmx_BankInstrumentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BankLoansAndNotesPayablesMember" xlink:label="fmx_BankLoansAndNotesPayablesMember" xlink:type="locator"/>
    <label id="id_13222622_3005210_3_1" xlink:label="fmx_BankLoansAndNotesPayablesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank loans and notes payables.</label>
    <label id="id_13222622_3005210_1_1" xlink:label="fmx_BankLoansAndNotesPayablesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank loans and Notes Payables [Member]</label>
    <label id="id_13222622_3005210_2_1" xlink:label="fmx_BankLoansAndNotesPayablesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank loans and notes payables [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BankLoansAndNotesPayablesMember" xlink:to="fmx_BankLoansAndNotesPayablesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BankLoansMember" xlink:label="fmx_BankLoansMember" xlink:type="locator"/>
    <label id="id_13222622_2980603_3_1" xlink:label="fmx_BankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank loans.</label>
    <label id="id_13222622_2980603_1_1" xlink:label="fmx_BankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank loans [member]</label>
    <label id="id_13222622_2980603_2_1" xlink:label="fmx_BankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank loans [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BankLoansMember" xlink:to="fmx_BankLoansMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BankLoansNotesPayablesAndAccountsPayableMember" xlink:label="fmx_BankLoansNotesPayablesAndAccountsPayableMember" xlink:type="locator"/>
    <label id="id_13222622_2990618_3_1" xlink:label="fmx_BankLoansNotesPayablesAndAccountsPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Bank loans, notes payables and accounts payable.</label>
    <label id="id_13222622_2990618_1_1" xlink:label="fmx_BankLoansNotesPayablesAndAccountsPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bank Loans, Notes Payables And Accounts Payable [Member]</label>
    <label id="id_13222622_2990618_2_1" xlink:label="fmx_BankLoansNotesPayablesAndAccountsPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank loans and notes payables and accounts payable [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BankLoansNotesPayablesAndAccountsPayableMember" xlink:to="fmx_BankLoansNotesPayablesAndAccountsPayableMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="ifrs-full_BasicEarningsLossPerShare" xlink:type="locator"/>
    <label id="id_13222622_2935613_1_1" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic earnings (loss) per share</label>
    <label id="id_13222622_2935613_2_1" xlink:label="ifrs-full_BasicEarningsLossPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic net controlling interest income per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShare" xlink:to="ifrs-full_BasicEarningsLossPerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:type="locator"/>
    <label id="id_13222622_2935405_1_1" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic earnings (loss) per share from continuing operations</label>
    <label id="id_13222622_2935405_2_1" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic net controlling interest income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BasicEarningsPerShareAbstract" xlink:label="ifrs-full_BasicEarningsPerShareAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935615_1_1" xlink:label="ifrs-full_BasicEarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic earnings per share [abstract]</label>
    <label id="id_13222622_2935615_2_1" xlink:label="ifrs-full_BasicEarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic controlling interest net income:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsPerShareAbstract" xlink:to="ifrs-full_BasicEarningsPerShareAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BBVABancomerSADeCVMember" xlink:label="fmx_BBVABancomerSADeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984638_3_1" xlink:label="fmx_BBVABancomerSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BBVA Bancomer SA de CV.</label>
    <label id="id_13222622_2984638_1_1" xlink:label="fmx_BBVABancomerSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BBVA Bancomer SA de CV [member]</label>
    <label id="id_13222622_2984638_2_1" xlink:label="fmx_BBVABancomerSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BBVA Bancomer, S.A. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BBVABancomerSADeCVMember" xlink:to="fmx_BBVABancomerSADeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BDUnitsMember" xlink:label="fmx_BDUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2986777_3_1" xlink:label="fmx_BDUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">BD units.</label>
    <label id="id_13222622_2986777_1_1" xlink:label="fmx_BDUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BD Units [member]</label>
    <label id="id_13222622_2986777_2_1" xlink:label="fmx_BDUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BD units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BDUnitsMember" xlink:to="fmx_BDUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BenefitsPaidOrPayable" xlink:label="ifrs-full_BenefitsPaidOrPayable" xlink:type="locator"/>
    <label id="id_13222622_2934113_1_1" xlink:label="ifrs-full_BenefitsPaidOrPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Benefits paid or payable</label>
    <label id="id_13222622_2934113_14_1" xlink:label="ifrs-full_BenefitsPaidOrPayable_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Benefits paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BenefitsPaidOrPayable" xlink:to="ifrs-full_BenefitsPaidOrPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BetaSanMiguelMember" xlink:label="fmx_BetaSanMiguelMember" xlink:type="locator"/>
    <label id="id_13222622_2984622_3_1" xlink:label="fmx_BetaSanMiguelMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Beta San Miguel [member]</label>
    <label id="id_13222622_2984622_1_1" xlink:label="fmx_BetaSanMiguelMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Beta San Miguel [Member]</label>
    <label id="id_13222622_2984622_2_1" xlink:label="fmx_BetaSanMiguelMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Beta San Miguel [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BetaSanMiguelMember" xlink:to="fmx_BetaSanMiguelMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BiologicalAssetsByTypeAxis" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis" xlink:type="locator"/>
    <label id="id_13222622_2934117_1_1" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Biological assets by type [axis]</label>
    <label id="id_13222622_2934117_2_1" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Biological assets by type [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BiologicalAssetsByTypeAxis" xlink:to="ifrs-full_BiologicalAssetsByTypeAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BiologicalAssetsTypeMember" xlink:label="ifrs-full_BiologicalAssetsTypeMember" xlink:type="locator"/>
    <label id="id_13222622_2935102_1_1" xlink:label="ifrs-full_BiologicalAssetsTypeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Biological assets, type [member]</label>
    <label id="id_13222622_2935102_2_1" xlink:label="ifrs-full_BiologicalAssetsTypeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Biological assets, type [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BiologicalAssetsTypeMember" xlink:to="ifrs-full_BiologicalAssetsTypeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BiometricAbstract" xlink:label="fmx_BiometricAbstract" xlink:type="locator"/>
    <label id="id_13222622_2940251_3_1" xlink:label="fmx_BiometricAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Biometric.</label>
    <label id="id_13222622_2940251_1_1" xlink:label="fmx_BiometricAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Biometric [Abstract]</label>
    <label id="id_13222622_2940251_2_1" xlink:label="fmx_BiometricAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Biometric:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BiometricAbstract" xlink:to="fmx_BiometricAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:type="locator"/>
    <label id="id_13222622_2935623_1_1" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bonds issued, undiscounted cash flows</label>
    <label id="id_13222622_2935623_2_1" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes and bonds</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:to="ifrs-full_BondsIssuedUndiscountedCashFlows_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="ifrs-full_BorrowingCostsCapitalised" xlink:type="locator"/>
    <label id="id_13222622_2935104_1_1" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowing costs capitalised</label>
    <label id="id_13222622_2935104_32_1" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Capitalization of borrowing costs</label>
    <label id="id_13222622_2935104_2_1" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount capitalized</label>
    <label id="id_13222622_2935104_12_1" xlink:label="ifrs-full_BorrowingCostsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Borrowing costs capitalized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingCostsCapitalised" xlink:to="ifrs-full_BorrowingCostsCapitalised_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <label id="id_13222622_2935408_1_1" xlink:label="ifrs-full_Borrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings</label>
    <label id="id_13222622_2935408_2_1" xlink:label="ifrs-full_Borrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings</label>
    <label id="id_13222622_2935408_12_1" xlink:label="ifrs-full_Borrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Borrowings" xlink:to="ifrs-full_Borrowings_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <label id="id_13222622_2934121_1_1" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</label>
    <label id="id_13222622_2934121_2_1" xlink:label="ifrs-full_BorrowingsByNameAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings by name [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameAxis" xlink:to="ifrs-full_BorrowingsByNameAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <label id="id_13222622_2934122_1_1" xlink:label="ifrs-full_BorrowingsByNameMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings by name [member]</label>
    <label id="id_13222622_2934122_2_1" xlink:label="ifrs-full_BorrowingsByNameMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings by name [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsByNameMember" xlink:to="ifrs-full_BorrowingsByNameMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:type="locator"/>
    <label id="id_13222622_2935625_1_1" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, interest rate</label>
    <label id="id_13222622_2935625_32_1" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Fixed interest rate</label>
    <label id="id_13222622_2935625_33_1" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US">Interest rate</label>
    <label id="id_13222622_2935625_2_1" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual rate</label>
    <label id="id_13222622_2935625_12_1" xlink:label="ifrs-full_BorrowingsInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Borrowings, interest rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRate" xlink:to="ifrs-full_BorrowingsInterestRate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="ifrs-full_BorrowingsInterestRateBasis" xlink:type="locator"/>
    <label id="id_13222622_2934124_1_1" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, interest rate basis</label>
    <label id="id_13222622_2934124_2_1" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis points over the relevant benchmark mid-swap</label>
    <label id="id_13222622_2934124_12_1" xlink:label="ifrs-full_BorrowingsInterestRateBasis_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest rate percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsInterestRateBasis" xlink:to="ifrs-full_BorrowingsInterestRateBasis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsMaturity" xlink:label="ifrs-full_BorrowingsMaturity" xlink:type="locator"/>
    <label id="id_13222622_2935107_1_1" xlink:label="ifrs-full_BorrowingsMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings, maturity</label>
    <label id="id_13222622_2935107_2_1" xlink:label="ifrs-full_BorrowingsMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowings, maturity</label>
    <label id="id_13222622_2935107_12_1" xlink:label="ifrs-full_BorrowingsMaturity_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Maturity date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsMaturity" xlink:to="ifrs-full_BorrowingsMaturity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2935409_1_1" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Borrowings recognised as of acquisition date</label>
    <label id="id_13222622_2935409_14_1" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Amount to be paid through Promissory Notes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <label id="id_13222622_2935626_1_1" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Bottom of range [member]</label>
    <label id="id_13222622_2935626_2_1" xlink:label="ifrs-full_BottomOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bottom of range [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BottomOfRangeMember" xlink:to="ifrs-full_BottomOfRangeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_BR" xlink:label="country_BR" xlink:type="locator"/>
    <label id="id_13222622_2933436_1_1" xlink:label="country_BR_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BRAZIL</label>
    <label id="id_13222622_2933436_2_1" xlink:label="country_BR_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brazil [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_BR" xlink:to="country_BR_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BrandNamesMember" xlink:label="ifrs-full_BrandNamesMember" xlink:type="locator"/>
    <label id="id_13222622_2935627_1_1" xlink:label="ifrs-full_BrandNamesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brand names [member]</label>
    <label id="id_13222622_2935627_2_1" xlink:label="ifrs-full_BrandNamesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trademark rights [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BrandNamesMember" xlink:to="ifrs-full_BrandNamesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BrazilianReaisMember" xlink:label="fmx_BrazilianReaisMember" xlink:type="locator"/>
    <label id="id_13222622_2983516_3_1" xlink:label="fmx_BrazilianReaisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Brazilian reais.</label>
    <label id="id_13222622_2983516_1_1" xlink:label="fmx_BrazilianReaisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazilian reais [Member]</label>
    <label id="id_13222622_2983516_2_1" xlink:label="fmx_BrazilianReaisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brazilian reais [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BrazilianReaisMember" xlink:to="fmx_BrazilianReaisMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_BRL" xlink:label="currency_BRL" xlink:type="locator"/>
    <label id="id_13222622_2933212_1_1" xlink:label="currency_BRL_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Brazil, Brazil Real</label>
    <label id="id_13222622_2933212_2_1" xlink:label="currency_BRL_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Brazilian reais [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_BRL" xlink:to="currency_BRL_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BuildingsMember" xlink:label="ifrs-full_BuildingsMember" xlink:type="locator"/>
    <label id="id_13222622_2934125_1_1" xlink:label="ifrs-full_BuildingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Buildings [member]</label>
    <label id="id_13222622_2934125_2_1" xlink:label="ifrs-full_BuildingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Buildings [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BuildingsMember" xlink:to="ifrs-full_BuildingsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BUnitsMember" xlink:label="fmx_BUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2988395_3_1" xlink:label="fmx_BUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">B units.</label>
    <label id="id_13222622_2988395_1_1" xlink:label="fmx_BUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">BUnits [Member]</label>
    <label id="id_13222622_2988395_2_1" xlink:label="fmx_BUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BUnitsMember" xlink:to="fmx_BUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness" xlink:label="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness" xlink:type="locator"/>
    <label id="id_13222622_2949322_3_1" xlink:label="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business acquisition additional cash paid on acquisition of business.</label>
    <label id="id_13222622_2949322_1_1" xlink:label="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Additional Cash Paid on Acquisition of Business</label>
    <label id="id_13222622_2949322_2_1" xlink:label="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business acquisition, additionally cash paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness" xlink:to="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BusinessAcquisitionCapitalizedAmount" xlink:label="fmx_BusinessAcquisitionCapitalizedAmount" xlink:type="locator"/>
    <label id="id_13222622_2949330_3_1" xlink:label="fmx_BusinessAcquisitionCapitalizedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business acquisition capitalized amount.</label>
    <label id="id_13222622_2949330_1_1" xlink:label="fmx_BusinessAcquisitionCapitalizedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Acquisition, Capitalized Amount</label>
    <label id="id_13222622_2949330_2_1" xlink:label="fmx_BusinessAcquisitionCapitalizedAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business acquisition, capitalized amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BusinessAcquisitionCapitalizedAmount" xlink:to="fmx_BusinessAcquisitionCapitalizedAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BusinessAcquisitionSaleOfEquityInterestPercentage" xlink:label="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage" xlink:type="locator"/>
    <label id="id_13222622_3044052_3_1" xlink:label="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business acquisition sale of equity interest percentage.</label>
    <label id="id_13222622_3044052_1_1" xlink:label="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business acquisition sale of equity interest percentage</label>
    <label id="id_13222622_3044052_2_1" xlink:label="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale percentage of investment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage" xlink:to="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2954260_3_1" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Business combination proforma income before income taxes and share of the profit under equity method.</label>
    <label id="id_13222622_2954260_1_1" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business Combination Proforma Income Before Income Taxes And Share Of The Profit Under Equity Method</label>
    <label id="id_13222622_2954260_2_1" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes and share of the profit of associates and joint ventures accounting for using the equity method</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod" xlink:to="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitUnderEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935629_1_1" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Business combinations [axis]</label>
    <label id="id_13222622_2935629_2_1" xlink:label="ifrs-full_BusinessCombinationsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business combinations [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BusinessCombinationsAxis" xlink:to="ifrs-full_BusinessCombinationsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CafeDelPacificoSAPIDeCVCaffenioMember" xlink:label="fmx_CafeDelPacificoSAPIDeCVCaffenioMember" xlink:type="locator"/>
    <label id="id_13222622_2990497_3_1" xlink:label="fmx_CafeDelPacificoSAPIDeCVCaffenioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cafe del Pacifico, S.A.P.I. de C.V. (Caffenio).</label>
    <label id="id_13222622_2990497_1_1" xlink:label="fmx_CafeDelPacificoSAPIDeCVCaffenioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cafe Del Pacifico SAPI De CV Caffenio [Member]</label>
    <label id="id_13222622_2990497_2_1" xlink:label="fmx_CafeDelPacificoSAPIDeCVCaffenioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cafe Del Pacifico SAPI De CV Caffenio [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CafeDelPacificoSAPIDeCVCaffenioMember" xlink:to="fmx_CafeDelPacificoSAPIDeCVCaffenioMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CaffenioMember" xlink:label="fmx_CaffenioMember" xlink:type="locator"/>
    <label id="id_13222622_2990612_3_1" xlink:label="fmx_CaffenioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Caffenio.</label>
    <label id="id_13222622_2990612_1_1" xlink:label="fmx_CaffenioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Caffenio [Member]</label>
    <label id="id_13222622_2990612_2_1" xlink:label="fmx_CaffenioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Caffenio [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CaffenioMember" xlink:to="fmx_CaffenioMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CannedProductsMember" xlink:label="fmx_CannedProductsMember" xlink:type="locator"/>
    <label id="id_13222622_2986981_3_1" xlink:label="fmx_CannedProductsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Canned products.</label>
    <label id="id_13222622_2986981_1_1" xlink:label="fmx_CannedProductsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Canned Products [member]</label>
    <label id="id_13222622_2986981_2_1" xlink:label="fmx_CannedProductsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Canned products [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CannedProductsMember" xlink:to="fmx_CannedProductsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CapitalisationOfIssuedSharesToFormerOwners" xlink:label="fmx_CapitalisationOfIssuedSharesToFormerOwners" xlink:type="locator"/>
    <label id="id_13222622_3043772_3_1" xlink:label="fmx_CapitalisationOfIssuedSharesToFormerOwners_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capitalisation of issued shares to former owners</label>
    <label id="id_13222622_3043772_1_1" xlink:label="fmx_CapitalisationOfIssuedSharesToFormerOwners_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalisation of issued shares to former owners</label>
    <label id="id_13222622_3043772_14_1" xlink:label="fmx_CapitalisationOfIssuedSharesToFormerOwners_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Capitalization of issued shares to former owners of Vonpar in Coca-Cola FEMSA</label>
    <label id="id_13222622_3043772_18_1" xlink:label="fmx_CapitalisationOfIssuedSharesToFormerOwners_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Capitalization of issued shares to former owners of Vonpar in Coca-Cola FEMSA (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CapitalisationOfIssuedSharesToFormerOwners" xlink:to="fmx_CapitalisationOfIssuedSharesToFormerOwners_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:label="ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:type="locator"/>
    <label id="id_13222622_2935632_1_1" xlink:label="ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalisation rate of borrowing costs eligible for capitalisation</label>
    <label id="id_13222622_2935632_2_1" xlink:label="ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effective interest rate used to determine amount of borrowing costs eligible for capitalization</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:to="ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CapitalizationOfBorrowingCosts" xlink:label="fmx_CapitalizationOfBorrowingCosts" xlink:type="locator"/>
    <label id="id_13222622_2954786_3_1" xlink:label="fmx_CapitalizationOfBorrowingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capitalization of borrowing costs.</label>
    <label id="id_13222622_2954786_1_1" xlink:label="fmx_CapitalizationOfBorrowingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalization Of Borrowing Costs</label>
    <label id="id_13222622_2954786_2_1" xlink:label="fmx_CapitalizationOfBorrowingCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalization of borrowing costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CapitalizationOfBorrowingCosts" xlink:to="fmx_CapitalizationOfBorrowingCosts_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CapitalSecuritiesMember" xlink:label="fmx_CapitalSecuritiesMember" xlink:type="locator"/>
    <label id="id_13222622_2984070_3_1" xlink:label="fmx_CapitalSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital securities.</label>
    <label id="id_13222622_2984070_1_1" xlink:label="fmx_CapitalSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital securities [Member]</label>
    <label id="id_13222622_2984070_2_1" xlink:label="fmx_CapitalSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CapitalSecuritiesMember" xlink:to="fmx_CapitalSecuritiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <label id="id_13222622_2934129_1_1" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <label id="id_13222622_2934129_2_1" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount, accumulated depreciation, amortisation and impairment and gross carrying amount [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:to="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <label id="id_13222622_2934130_1_1" xlink:label="ifrs-full_CarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</label>
    <label id="id_13222622_2934130_2_1" xlink:label="ifrs-full_CarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying amount [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CarryingAmountMember" xlink:to="ifrs-full_CarryingAmountMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CarryingValueOfAcquireeInvestmentDerecognized" xlink:label="fmx_CarryingValueOfAcquireeInvestmentDerecognized" xlink:type="locator"/>
    <label id="id_13222622_2949171_3_1" xlink:label="fmx_CarryingValueOfAcquireeInvestmentDerecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Carrying value of acquiree investment derecognized.</label>
    <label id="id_13222622_2949171_1_1" xlink:label="fmx_CarryingValueOfAcquireeInvestmentDerecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Carrying value of acquiree investment derecognized</label>
    <label id="id_13222622_2949171_2_1" xlink:label="fmx_CarryingValueOfAcquireeInvestmentDerecognized_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value of CCFPI investment derecognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CarryingValueOfAcquireeInvestmentDerecognized" xlink:to="fmx_CarryingValueOfAcquireeInvestmentDerecognized_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Cash" xlink:label="ifrs-full_Cash" xlink:type="locator"/>
    <label id="id_13222622_2935116_1_1" xlink:label="ifrs-full_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash</label>
    <label id="id_13222622_2935116_2_1" xlink:label="ifrs-full_Cash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and bank balances</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Cash" xlink:to="ifrs-full_Cash_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CashAndCashEquivalentMember" xlink:label="fmx_CashAndCashEquivalentMember" xlink:type="locator"/>
    <label id="id_13222622_2980734_3_1" xlink:label="fmx_CashAndCashEquivalentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash and cash equivalent.</label>
    <label id="id_13222622_2980734_1_1" xlink:label="fmx_CashAndCashEquivalentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalent [member]</label>
    <label id="id_13222622_2980734_2_1" xlink:label="fmx_CashAndCashEquivalentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalent [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CashAndCashEquivalentMember" xlink:to="fmx_CashAndCashEquivalentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <label id="id_13222622_2934132_1_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <label id="id_13222622_2934132_4_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance of cash and cash equivalents</label>
    <label id="id_13222622_2934132_5_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Initial balance of cash and cash equivalents</label>
    <label id="id_13222622_2934132_2_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <label id="id_13222622_2934132_6_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalents" xlink:to="ifrs-full_CashAndCashEquivalents_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CashAndCashEquivalents1LineItems" xlink:label="fmx_CashAndCashEquivalents1LineItems" xlink:type="locator"/>
    <label id="id_13222622_2939824_3_1" xlink:label="fmx_CashAndCashEquivalents1LineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents1 [Line Items].</label>
    <label id="id_13222622_2939824_1_1" xlink:label="fmx_CashAndCashEquivalents1LineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents1 [Line Items]</label>
    <label id="id_13222622_2939824_2_1" xlink:label="fmx_CashAndCashEquivalents1LineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents1 [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CashAndCashEquivalents1LineItems" xlink:to="fmx_CashAndCashEquivalents1LineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2934810_1_1" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents [abstract]</label>
    <label id="id_13222622_2934810_2_1" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsAbstract" xlink:to="ifrs-full_CashAndCashEquivalentsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2934812_1_1" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents recognised as of acquisition date</label>
    <label id="id_13222622_2934812_2_1" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash acquired</label>
    <label id="id_13222622_2934812_14_1" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cash acquired</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CashAndCashEquivalentsTable" xlink:label="fmx_CashAndCashEquivalentsTable" xlink:type="locator"/>
    <label id="id_13222622_2978102_3_1" xlink:label="fmx_CashAndCashEquivalentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents.</label>
    <label id="id_13222622_2978102_1_1" xlink:label="fmx_CashAndCashEquivalentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents [Table]</label>
    <label id="id_13222622_2978102_2_1" xlink:label="fmx_CashAndCashEquivalentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash And Cash Equivalents [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CashAndCashEquivalentsTable" xlink:to="fmx_CashAndCashEquivalentsTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashEquivalents" xlink:label="ifrs-full_CashEquivalents" xlink:type="locator"/>
    <label id="id_13222622_2934813_1_1" xlink:label="ifrs-full_CashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash equivalents</label>
    <label id="id_13222622_2934813_2_1" xlink:label="ifrs-full_CashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash equivalents (see Note 3.5)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashEquivalents" xlink:to="ifrs-full_CashEquivalents_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2935642_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities</label>
    <label id="id_13222622_2935642_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash generated by (used in) financing activities</label>
    <label id="id_13222622_2935642_14_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net cash flow from financing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935120_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities [abstract]</label>
    <label id="id_13222622_2935120_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from financing activities:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2935423_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities</label>
    <label id="id_13222622_2935423_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash generated by (used in) investing activities</label>
    <label id="id_13222622_2935423_14_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net cash flow from used in investing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935424_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities [abstract]</label>
    <label id="id_13222622_2935424_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from investing activities:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:type="locator"/>
    <label id="id_13222622_2935125_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities</label>
    <label id="id_13222622_2935125_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash flow from operating activities</label>
    <label id="id_13222622_2935125_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flow from operating activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivities" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935643_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities [abstract]</label>
    <label id="id_13222622_2935643_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flows from operating activities:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperations" xlink:type="locator"/>
    <label id="id_13222622_2934818_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operations</label>
    <label id="id_13222622_2934818_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flow from operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:label="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:type="locator"/>
    <label id="id_13222622_2935644_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operations before changes in working capital</label>
    <label id="id_13222622_2935644_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Cash flow from operating activities before changes in operating accounts</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:to="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2935126_1_1" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows used in obtaining control of subsidiaries or other businesses, classified as investing activities</label>
    <label id="id_13222622_2935126_14_1" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of Grupo Socofar, net of cash acquired (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities" xlink:label="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_3043433_3_1" xlink:label="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash flows used in obtaining partial ownership in businesses, classified as investing activities.</label>
    <label id="id_13222622_3043433_1_1" xlink:label="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows used in obtaining partial ownership in businesses classified as investing activities</label>
    <label id="id_13222622_3043433_14_1" xlink:label="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Partial payment of Vonpar, net of cash acquired (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities" xlink:to="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred" xlink:type="locator"/>
    <label id="id_13222622_2935648_1_1" xlink:label="ifrs-full_CashTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash transferred</label>
    <label id="id_13222622_2935648_2_1" xlink:label="ifrs-full_CashTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business acquisition, cash paid</label>
    <label id="id_13222622_2935648_12_1" xlink:label="ifrs-full_CashTransferred_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net cash paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashTransferred" xlink:to="ifrs-full_CashTransferred_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CategoriesOfFinancialAssetsAbstract" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2934822_1_1" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of financial assets [abstract]</label>
    <label id="id_13222622_2934822_2_1" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Categories of financial assets [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfFinancialAssetsAbstract" xlink:to="ifrs-full_CategoriesOfFinancialAssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <label id="id_13222622_2935131_1_1" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Categories of related parties [axis]</label>
    <label id="id_13222622_2935131_2_1" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Categories of related parties [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:to="ifrs-full_CategoriesOfRelatedPartiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CementosMexicanosSABVDeCVMember" xlink:label="fmx_CementosMexicanosSABVDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2986999_3_1" xlink:label="fmx_CementosMexicanosSABVDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cementos Mexicanos. S.A.B. de C.V.</label>
    <label id="id_13222622_2986999_1_1" xlink:label="fmx_CementosMexicanosSABVDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cementos Mexicanos. S.A.B. de C.V. [Member]</label>
    <label id="id_13222622_2986999_2_1" xlink:label="fmx_CementosMexicanosSABVDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cementos Mexicanos. S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CementosMexicanosSABVDeCVMember" xlink:to="fmx_CementosMexicanosSABVDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInBasisPoint" xlink:label="fmx_ChangeInBasisPoint" xlink:type="locator"/>
    <label id="id_13222622_2978003_3_1" xlink:label="fmx_ChangeInBasisPoint_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in basis point.</label>
    <label id="id_13222622_2978003_1_1" xlink:label="fmx_ChangeInBasisPoint_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Basis Point</label>
    <label id="id_13222622_2978003_2_1" xlink:label="fmx_ChangeInBasisPoint_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Bps.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInBasisPoint" xlink:to="fmx_ChangeInBasisPoint_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInBasisPointEffectOnEquity" xlink:label="fmx_ChangeInBasisPointEffectOnEquity" xlink:type="locator"/>
    <label id="id_13222622_2963507_3_1" xlink:label="fmx_ChangeInBasisPointEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in basis point effect on equity.</label>
    <label id="id_13222622_2963507_1_1" xlink:label="fmx_ChangeInBasisPointEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Basis Point Effect On Equity</label>
    <label id="id_13222622_2963507_2_1" xlink:label="fmx_ChangeInBasisPointEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInBasisPointEffectOnEquity" xlink:to="fmx_ChangeInBasisPointEffectOnEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInCommodityPriceFluctuationPercentage" xlink:label="fmx_ChangeInCommodityPriceFluctuationPercentage" xlink:type="locator"/>
    <label id="id_13222622_3021763_3_1" xlink:label="fmx_ChangeInCommodityPriceFluctuationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in commodity price fluctuation percentage.</label>
    <label id="id_13222622_3021763_1_1" xlink:label="fmx_ChangeInCommodityPriceFluctuationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Commodity Price Fluctuation Percentage</label>
    <label id="id_13222622_3021763_2_1" xlink:label="fmx_ChangeInCommodityPriceFluctuationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInCommodityPriceFluctuationPercentage" xlink:to="fmx_ChangeInCommodityPriceFluctuationPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity" xlink:label="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity" xlink:type="locator"/>
    <label id="id_13222622_2957559_3_1" xlink:label="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in commodity price fluctuation rate effect on equity.</label>
    <label id="id_13222622_2957559_1_1" xlink:label="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Commodity Price Fluctuation Rate Effect On Equity</label>
    <label id="id_13222622_2957559_2_1" xlink:label="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity" xlink:to="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments" xlink:type="locator"/>
    <label id="id_13222622_2950942_3_1" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change In Deferred Tax Assets Relating To Cash Flow Hedges In Foreign Investments</label>
    <label id="id_13222622_2950942_1_1" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Deferred Tax Assets Relating To Cash Flow Hedges In Foreign Investments</label>
    <label id="id_13222622_2950942_2_1" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges in foreign investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments" xlink:to="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInInterestRate" xlink:label="fmx_ChangeInInterestRate" xlink:type="locator"/>
    <label id="id_13222622_2975121_3_1" xlink:label="fmx_ChangeInInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in interest rate.</label>
    <label id="id_13222622_2975121_1_1" xlink:label="fmx_ChangeInInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Interest Rate</label>
    <label id="id_13222622_2975121_2_1" xlink:label="fmx_ChangeInInterestRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in interest rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInInterestRate" xlink:to="fmx_ChangeInInterestRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInInterestRateEffectOnProfitLoss" xlink:label="fmx_ChangeInInterestRateEffectOnProfitLoss" xlink:type="locator"/>
    <label id="id_13222622_2952219_3_1" xlink:label="fmx_ChangeInInterestRateEffectOnProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in interest rate effect on profit loss.</label>
    <label id="id_13222622_2952219_1_1" xlink:label="fmx_ChangeInInterestRateEffectOnProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Interest Rate Effect On Profit Loss</label>
    <label id="id_13222622_2952219_2_1" xlink:label="fmx_ChangeInInterestRateEffectOnProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on profit loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInInterestRateEffectOnProfitLoss" xlink:to="fmx_ChangeInInterestRateEffectOnProfitLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate" xlink:label="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate" xlink:type="locator"/>
    <label id="id_13222622_3020766_3_1" xlink:label="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in volume growth of compound annual growth rate.</label>
    <label id="id_13222622_3020766_1_1" xlink:label="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Volume Growth of Compound Annual Growth Rate</label>
    <label id="id_13222622_3020766_2_1" xlink:label="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Sales Growth CAGR</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate" xlink:to="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangeInWeightedAverageCostOfCapitalPercentage" xlink:label="fmx_ChangeInWeightedAverageCostOfCapitalPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020765_3_1" xlink:label="fmx_ChangeInWeightedAverageCostOfCapitalPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change in weighted average cost of capital percentage.</label>
    <label id="id_13222622_3020765_1_1" xlink:label="fmx_ChangeInWeightedAverageCostOfCapitalPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change in Weighted Average Cost of Capital Percentage</label>
    <label id="id_13222622_3020765_2_1" xlink:label="fmx_ChangeInWeightedAverageCostOfCapitalPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in WACC</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInWeightedAverageCostOfCapitalPercentage" xlink:to="fmx_ChangeInWeightedAverageCostOfCapitalPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" xlink:label="ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" xlink:type="locator"/>
    <label id="id_13222622_2935439_1_1" xlink:label="ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease (increase) in inventories of finished goods and work in progress</label>
    <label id="id_13222622_2935439_2_1" xlink:label="ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in inventories of finished goods and work in progress</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" xlink:to="ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember" xlink:label="ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember" xlink:type="locator"/>
    <label id="id_13222622_2935140_1_1" xlink:label="ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes in tax rates or tax laws enacted or announced [member]</label>
    <label id="id_13222622_2935140_2_1" xlink:label="ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in tax rates or tax laws enacted or announced [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember" xlink:to="ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ChangesInValueOnRecognitionOfInflationEffects" xlink:label="fmx_ChangesInValueOnRecognitionOfInflationEffects" xlink:type="locator"/>
    <label id="id_13222622_2954785_3_1" xlink:label="fmx_ChangesInValueOnRecognitionOfInflationEffects_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Changes in value on recognition of inflation effects.</label>
    <label id="id_13222622_2954785_1_1" xlink:label="fmx_ChangesInValueOnRecognitionOfInflationEffects_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Changes In Value On Recognition Of Inflation Effects</label>
    <label id="id_13222622_2954785_2_1" xlink:label="fmx_ChangesInValueOnRecognitionOfInflationEffects_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in value on the recognition of inflation effects</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangesInValueOnRecognitionOfInflationEffects" xlink:to="fmx_ChangesInValueOnRecognitionOfInflationEffects_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CL" xlink:label="country_CL" xlink:type="locator"/>
    <label id="id_13222622_2934402_1_1" xlink:label="country_CL_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CHILE</label>
    <label id="id_13222622_2934402_2_1" xlink:label="country_CL_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chile [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CL" xlink:to="country_CL_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935144_1_1" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</label>
    <label id="id_13222622_2935144_2_1" xlink:label="ifrs-full_ClassesOfAssetsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of assets [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsAxis" xlink:to="ifrs-full_ClassesOfAssetsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2935661_1_1" xlink:label="ifrs-full_ClassesOfAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Assets [member]</label>
    <label id="id_13222622_2935661_2_1" xlink:label="ifrs-full_ClassesOfAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfAssetsMember" xlink:to="ifrs-full_ClassesOfAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:label="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935662_1_1" xlink:label="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of employee benefits expense [abstract]</label>
    <label id="id_13222622_2935662_2_1" xlink:label="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of employee benefits expense [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:to="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935145_1_1" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial assets [axis]</label>
    <label id="id_13222622_2935145_2_1" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial assets [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:to="ifrs-full_ClassesOfFinancialAssetsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935146_1_1" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial instruments [axis]</label>
    <label id="id_13222622_2935146_2_1" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial instruments [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <label id="id_13222622_2934848_1_1" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial instruments, class [member]</label>
    <label id="id_13222622_2934848_2_1" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial instruments, class [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:to="ifrs-full_ClassesOfFinancialInstrumentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_13222622_2934849_1_1" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [axis]</label>
    <label id="id_13222622_2934849_2_1" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of financial liabilities [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfFinancialLiabilitiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:type="locator"/>
    <label id="id_13222622_2934851_1_1" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of intangible assets other than goodwill [axis]</label>
    <label id="id_13222622_2934851_2_1" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of intangible assets other than goodwill [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:to="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ifrs-full_ClassesOfInventoriesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935147_1_1" xlink:label="ifrs-full_ClassesOfInventoriesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of current inventories [abstract]</label>
    <label id="id_13222622_2935147_2_1" xlink:label="ifrs-full_ClassesOfInventoriesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of current inventories [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfInventoriesAbstract" xlink:to="ifrs-full_ClassesOfInventoriesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_13222622_2935664_1_1" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of liabilities [axis]</label>
    <label id="id_13222622_2935664_2_1" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of liabilities [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfLiabilitiesAxis" xlink:to="ifrs-full_ClassesOfLiabilitiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfOrdinarySharesAxis" xlink:label="ifrs-full_ClassesOfOrdinarySharesAxis" xlink:type="locator"/>
    <label id="id_13222622_2935665_1_1" xlink:label="ifrs-full_ClassesOfOrdinarySharesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of ordinary shares [axis]</label>
    <label id="id_13222622_2935665_2_1" xlink:label="ifrs-full_ClassesOfOrdinarySharesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of ordinary shares [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfOrdinarySharesAxis" xlink:to="ifrs-full_ClassesOfOrdinarySharesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <label id="id_13222622_2935446_1_1" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</label>
    <label id="id_13222622_2935446_2_1" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of property, plant and equipment [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:to="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935666_1_1" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of other provisions [axis]</label>
    <label id="id_13222622_2935666_2_1" xlink:label="ifrs-full_ClassesOfProvisionsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of other provisions [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfProvisionsAxis" xlink:to="ifrs-full_ClassesOfProvisionsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <label id="id_13222622_2935448_1_1" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Classes of share capital [axis]</label>
    <label id="id_13222622_2935448_2_1" xlink:label="ifrs-full_ClassesOfShareCapitalAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Classes of share capital [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalAxis" xlink:to="ifrs-full_ClassesOfShareCapitalAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <label id="id_13222622_2935667_1_1" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share capital [member]</label>
    <label id="id_13222622_2935667_2_1" xlink:label="ifrs-full_ClassesOfShareCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share capital [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClassesOfShareCapitalMember" xlink:to="ifrs-full_ClassesOfShareCapitalMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_ClassOfStockDomain" xlink:label="us-gaap_ClassOfStockDomain" xlink:type="locator"/>
    <label id="id_13222622_2919081_1_1" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</label>
    <label id="id_13222622_2919081_2_1" xlink:label="us-gaap_ClassOfStockDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfStockDomain" xlink:to="us-gaap_ClassOfStockDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ClosingForeignExchangeRate" xlink:label="ifrs-full_ClosingForeignExchangeRate" xlink:type="locator"/>
    <label id="id_13222622_2935150_1_1" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Closing foreign exchange rate</label>
    <label id="id_13222622_2935150_32_1" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Exchange rate</label>
    <label id="id_13222622_2935150_33_1" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US">Exchange Rate as of</label>
    <label id="id_13222622_2935150_2_1" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Closing foreign exchange rate</label>
    <label id="id_13222622_2935150_12_1" xlink:label="ifrs-full_ClosingForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Conversion rate of Mexican pesos to U.S. dollars</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ClosingForeignExchangeRate" xlink:to="ifrs-full_ClosingForeignExchangeRate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_CLP" xlink:label="currency_CLP" xlink:type="locator"/>
    <label id="id_13222622_2934467_1_1" xlink:label="currency_CLP_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chile, Pesos</label>
    <label id="id_13222622_2934467_2_1" xlink:label="currency_CLP_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chilean peso [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_CLP" xlink:to="currency_CLP_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CO" xlink:label="country_CO" xlink:type="locator"/>
    <label id="id_13222622_2933443_1_1" xlink:label="country_CO_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">COLOMBIA</label>
    <label id="id_13222622_2933443_2_1" xlink:label="country_CO_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Colombia [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CO" xlink:to="country_CO_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CocaColaCompanyMember" xlink:label="fmx_CocaColaCompanyMember" xlink:type="locator"/>
    <label id="id_13222622_2983373_3_1" xlink:label="fmx_CocaColaCompanyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coca-Cola Company.</label>
    <label id="id_13222622_2983373_1_1" xlink:label="fmx_CocaColaCompanyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coca Cola Company [Member]</label>
    <label id="id_13222622_2983373_2_1" xlink:label="fmx_CocaColaCompanyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">The Coca-Cola company [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CocaColaCompanyMember" xlink:to="fmx_CocaColaCompanyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CocaColaFEMSAMember" xlink:label="fmx_CocaColaFEMSAMember" xlink:type="locator"/>
    <label id="id_13222622_2983203_3_1" xlink:label="fmx_CocaColaFEMSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coca- Cola FEMSA.</label>
    <label id="id_13222622_2983203_1_1" xlink:label="fmx_CocaColaFEMSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coca Cola FEMSA [Member]</label>
    <label id="id_13222622_2983203_2_1" xlink:label="fmx_CocaColaFEMSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coca-Cola FEMSA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CocaColaFEMSAMember" xlink:to="fmx_CocaColaFEMSAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CocaColaFEMSAPhilippinesIncCCFPIMember" xlink:label="fmx_CocaColaFEMSAPhilippinesIncCCFPIMember" xlink:type="locator"/>
    <label id="id_13222622_2990494_3_1" xlink:label="fmx_CocaColaFEMSAPhilippinesIncCCFPIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coca-Cola FEMSA Philippines, Inc. ("CCFPI").</label>
    <label id="id_13222622_2990494_1_1" xlink:label="fmx_CocaColaFEMSAPhilippinesIncCCFPIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coca Cola FEMSA Philippines Inc CCFPI Member</label>
    <label id="id_13222622_2990494_2_1" xlink:label="fmx_CocaColaFEMSAPhilippinesIncCCFPIMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coca Cola FEMSA Philippines Inc CCFPI [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CocaColaFEMSAPhilippinesIncCCFPIMember" xlink:to="fmx_CocaColaFEMSAPhilippinesIncCCFPIMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CocaColaFEMSAPhilippinesIncMember" xlink:label="fmx_CocaColaFEMSAPhilippinesIncMember" xlink:type="locator"/>
    <label id="id_13222622_2983157_3_1" xlink:label="fmx_CocaColaFEMSAPhilippinesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coca-Cola FEMSA Philippines, Inc.</label>
    <label id="id_13222622_2983157_1_1" xlink:label="fmx_CocaColaFEMSAPhilippinesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coca Cola FEMSA Philippines Inc [Member]</label>
    <label id="id_13222622_2983157_2_1" xlink:label="fmx_CocaColaFEMSAPhilippinesIncMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CCFPI [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CocaColaFEMSAPhilippinesIncMember" xlink:to="fmx_CocaColaFEMSAPhilippinesIncMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember" xlink:label="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember" xlink:type="locator"/>
    <label id="id_13222622_2986860_3_1" xlink:label="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coca Cola FEMSA.</label>
    <label id="id_13222622_2986860_1_1" xlink:label="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coca Cola Fomento Economico Mexicano SABde CV [Member]</label>
    <label id="id_13222622_2986860_2_1" xlink:label="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coca Cola FEMSA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember" xlink:to="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CoeficienteDeEstabilizacionDeReferenciaMember" xlink:label="fmx_CoeficienteDeEstabilizacionDeReferenciaMember" xlink:type="locator"/>
    <label id="id_13222622_2984139_3_1" xlink:label="fmx_CoeficienteDeEstabilizacionDeReferenciaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coeficiente de Estabilizacion de Referencia.</label>
    <label id="id_13222622_2984139_1_1" xlink:label="fmx_CoeficienteDeEstabilizacionDeReferenciaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coeficiente de Estabilizacion de Referencia [Member]</label>
    <label id="id_13222622_2984139_2_1" xlink:label="fmx_CoeficienteDeEstabilizacionDeReferenciaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coeficiente de Estabilizacion de Referencia [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CoeficienteDeEstabilizacionDeReferenciaMember" xlink:to="fmx_CoeficienteDeEstabilizacionDeReferenciaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CoffeeMember" xlink:label="fmx_CoffeeMember" xlink:type="locator"/>
    <label id="id_13222622_2989934_3_1" xlink:label="fmx_CoffeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Coffee.</label>
    <label id="id_13222622_2989934_1_1" xlink:label="fmx_CoffeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Coffee [Member]</label>
    <label id="id_13222622_2989934_2_1" xlink:label="fmx_CoffeeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Coffee [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CoffeeMember" xlink:to="fmx_CoffeeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ColombianPesosMember" xlink:label="fmx_ColombianPesosMember" xlink:type="locator"/>
    <label id="id_13222622_2983511_3_1" xlink:label="fmx_ColombianPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Colombian pesos.</label>
    <label id="id_13222622_2983511_1_1" xlink:label="fmx_ColombianPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Colombian pesos [Member]</label>
    <label id="id_13222622_2983511_2_1" xlink:label="fmx_ColombianPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Colombian pesos [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ColombianPesosMember" xlink:to="fmx_ColombianPesosMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ComercialBigJohnLimitadaMember" xlink:label="fmx_ComercialBigJohnLimitadaMember" xlink:type="locator"/>
    <label id="id_13222622_2990379_3_1" xlink:label="fmx_ComercialBigJohnLimitadaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comercial Big John Limitada.</label>
    <label id="id_13222622_2990379_1_1" xlink:label="fmx_ComercialBigJohnLimitadaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comercial Big John Limitada [Member]</label>
    <label id="id_13222622_2990379_2_1" xlink:label="fmx_ComercialBigJohnLimitadaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comercial Big John Limitada [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComercialBigJohnLimitadaMember" xlink:to="fmx_ComercialBigJohnLimitadaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommodityContract1Member" xlink:label="fmx_CommodityContract1Member" xlink:type="locator"/>
    <label id="id_13222622_2987116_3_1" xlink:label="fmx_CommodityContract1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commodity contract.</label>
    <label id="id_13222622_2987116_1_1" xlink:label="fmx_CommodityContract1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodity Contract 1 [Member]</label>
    <label id="id_13222622_2987116_2_1" xlink:label="fmx_CommodityContract1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commodity price contracts [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommodityContract1Member" xlink:to="fmx_CommodityContract1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommodityPriceContractsOfAluminiumInUSDMember" xlink:label="fmx_CommodityPriceContractsOfAluminiumInUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986791_3_1" xlink:label="fmx_CommodityPriceContractsOfAluminiumInUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commodity price contracts of aluminium in USD.</label>
    <label id="id_13222622_2986791_1_1" xlink:label="fmx_CommodityPriceContractsOfAluminiumInUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodity Price Contracts Of Aluminium In USD [Member]</label>
    <label id="id_13222622_2986791_2_1" xlink:label="fmx_CommodityPriceContractsOfAluminiumInUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commodity Price Contracts of Aluminium in USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommodityPriceContractsOfAluminiumInUSDMember" xlink:to="fmx_CommodityPriceContractsOfAluminiumInUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommodityPriceContractsOfSugarInUSDMember" xlink:label="fmx_CommodityPriceContractsOfSugarInUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986790_3_1" xlink:label="fmx_CommodityPriceContractsOfSugarInUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commodity price contracts of sugar in USD.</label>
    <label id="id_13222622_2986790_1_1" xlink:label="fmx_CommodityPriceContractsOfSugarInUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodity Price Contracts Of Sugar In USD [Member]</label>
    <label id="id_13222622_2986790_2_1" xlink:label="fmx_CommodityPriceContractsOfSugarInUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commodity Price Contracts of Sugar in USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommodityPriceContractsOfSugarInUSDMember" xlink:to="fmx_CommodityPriceContractsOfSugarInUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CommodityPriceRiskMember" xlink:label="ifrs-full_CommodityPriceRiskMember" xlink:type="locator"/>
    <label id="id_13222622_2934853_1_1" xlink:label="ifrs-full_CommodityPriceRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodity price risk [member]</label>
    <label id="id_13222622_2934853_2_1" xlink:label="ifrs-full_CommodityPriceRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commodity Price Risk [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CommodityPriceRiskMember" xlink:to="ifrs-full_CommodityPriceRiskMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonSharesOutstandingBDUnitsMember" xlink:label="fmx_CommonSharesOutstandingBDUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2995281_3_1" xlink:label="fmx_CommonSharesOutstandingBDUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common shares outstanding BD units.</label>
    <label id="id_13222622_2995281_1_1" xlink:label="fmx_CommonSharesOutstandingBDUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Shares Outstanding BD Units Member</label>
    <label id="id_13222622_2995281_2_1" xlink:label="fmx_CommonSharesOutstandingBDUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BD units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonSharesOutstandingBDUnitsMember" xlink:to="fmx_CommonSharesOutstandingBDUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonSharesOutstandingBUnitsMember" xlink:label="fmx_CommonSharesOutstandingBUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2995282_3_1" xlink:label="fmx_CommonSharesOutstandingBUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common shares outstanding B units.</label>
    <label id="id_13222622_2995282_1_1" xlink:label="fmx_CommonSharesOutstandingBUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Shares Outstanding B Units Member</label>
    <label id="id_13222622_2995282_2_1" xlink:label="fmx_CommonSharesOutstandingBUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">B units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonSharesOutstandingBUnitsMember" xlink:to="fmx_CommonSharesOutstandingBUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonStockSeriesBMember" xlink:label="fmx_CommonStockSeriesBMember" xlink:type="locator"/>
    <label id="id_13222622_2986842_3_1" xlink:label="fmx_CommonStockSeriesBMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock series B.</label>
    <label id="id_13222622_2986842_1_1" xlink:label="fmx_CommonStockSeriesBMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Series B [member]</label>
    <label id="id_13222622_2986842_2_1" xlink:label="fmx_CommonStockSeriesBMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonStockSeriesBMember" xlink:to="fmx_CommonStockSeriesBMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonStockSeriesDLMember" xlink:label="fmx_CommonStockSeriesDLMember" xlink:type="locator"/>
    <label id="id_13222622_2986820_3_1" xlink:label="fmx_CommonStockSeriesDLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock series D L.</label>
    <label id="id_13222622_2986820_1_1" xlink:label="fmx_CommonStockSeriesDLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Series D L [member]</label>
    <label id="id_13222622_2986820_2_1" xlink:label="fmx_CommonStockSeriesDLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sub series D-L shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonStockSeriesDLMember" xlink:to="fmx_CommonStockSeriesDLMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonStockSeriesDMember" xlink:label="fmx_CommonStockSeriesDMember" xlink:type="locator"/>
    <label id="id_13222622_2987957_3_1" xlink:label="fmx_CommonStockSeriesDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock series D.</label>
    <label id="id_13222622_2987957_1_1" xlink:label="fmx_CommonStockSeriesDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Series D [Member]</label>
    <label id="id_13222622_2987957_2_1" xlink:label="fmx_CommonStockSeriesDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series D shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonStockSeriesDMember" xlink:to="fmx_CommonStockSeriesDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonStockSeriesLMember" xlink:label="fmx_CommonStockSeriesLMember" xlink:type="locator"/>
    <label id="id_13222622_2986829_3_1" xlink:label="fmx_CommonStockSeriesLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock series L.</label>
    <label id="id_13222622_2986829_1_1" xlink:label="fmx_CommonStockSeriesLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Series L [Member]</label>
    <label id="id_13222622_2986829_2_1" xlink:label="fmx_CommonStockSeriesLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series L shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonStockSeriesLMember" xlink:to="fmx_CommonStockSeriesLMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CommonStockVotingRights1" xlink:label="fmx_CommonStockVotingRights1" xlink:type="locator"/>
    <label id="id_13222622_2975035_3_1" xlink:label="fmx_CommonStockVotingRights1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Common stock voting rights.</label>
    <label id="id_13222622_2975035_1_1" xlink:label="fmx_CommonStockVotingRights1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Common Stock Voting Rights1</label>
    <label id="id_13222622_2975035_2_1" xlink:label="fmx_CommonStockVotingRights1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Voting rights for common stock holder</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommonStockVotingRights1" xlink:to="fmx_CommonStockVotingRights1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember" xlink:label="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2983289_3_1" xlink:label="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Compaa Panamea de Bebidas, S.A.P.I. de C.V.</label>
    <label id="id_13222622_2983289_1_1" xlink:label="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Compaa Panamea de Bebidas, S.A.P.I. de C.V. [Member]</label>
    <label id="id_13222622_2983289_2_1" xlink:label="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compania Panamena de Bebidas, S.A.P.I. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember" xlink:to="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:type="locator"/>
    <label id="id_13222622_2935452_1_1" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</label>
    <label id="id_13222622_2935452_2_1" xlink:label="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Components of equity [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfEquityAxis" xlink:to="ifrs-full_ComponentsOfEquityAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935453_1_1" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of other comprehensive income that will be reclassified to profit or loss, net of tax [abstract]</label>
    <label id="id_13222622_2935453_2_1" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Items that may be reclassified to consolidated net income:</label>
    <label id="id_13222622_2935453_12_1" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Items that will be reclassified to consolidated net income, net of tax:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935155_1_1" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Components of other comprehensive income that will not be reclassified to profit or loss, net of tax [abstract]</label>
    <label id="id_13222622_2935155_2_1" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Items that may not be reclassified to consolidated net income in subsequent periods:</label>
    <label id="id_13222622_2935155_12_1" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Items that will not to be reclassified to consolidated net income in subsequent periods, net of tax:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:to="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2934855_1_1" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income</label>
    <label id="id_13222622_2934855_32_1" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Total consolidated comprehensive income</label>
    <label id="id_13222622_2934855_2_1" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Comprehensive income</label>
    <label id="id_13222622_2934855_6_1" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Consolidated comprehensive income, net of tax</label>
    <label id="id_13222622_2934855_12_1" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncome" xlink:to="ifrs-full_ComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2935455_1_1" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests</label>
    <label id="id_13222622_2935455_6_1" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest comprehensive income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest" xlink:type="locator"/>
    <label id="id_13222622_3043768_3_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests reattribution from controlling interest</label>
    <label id="id_13222622_3043768_1_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests reattribution from controlling interest</label>
    <label id="id_13222622_3043768_2_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest comprehensive income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest" xlink:to="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_13222622_2934856_1_1" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to owners of parent</label>
    <label id="id_13222622_2934856_2_1" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income attributable to equity holders</label>
    <label id="id_13222622_2934856_6_1" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Controlling interest comprehensive income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:to="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest" xlink:label="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_13222622_3043765_3_1" xlink:label="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to owners of parent before reattribution to non-controlling interest</label>
    <label id="id_13222622_3043765_1_1" xlink:label="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to owners of parent before reattribution to non-controlling interest</label>
    <label id="id_13222622_3043765_2_1" xlink:label="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Controlling interest comprehensive income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest" xlink:to="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ConcentrateMember" xlink:label="fmx_ConcentrateMember" xlink:type="locator"/>
    <label id="id_13222622_3008168_3_1" xlink:label="fmx_ConcentrateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Concentrate [member]</label>
    <label id="id_13222622_3008168_1_1" xlink:label="fmx_ConcentrateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Concentrate [member]</label>
    <label id="id_13222622_3008168_2_1" xlink:label="fmx_ConcentrateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Concentrate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ConcentrateMember" xlink:to="fmx_ConcentrateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:type="locator"/>
    <label id="id_13222622_2935158_1_1" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated and separate financial statements [axis]</label>
    <label id="id_13222622_2935158_2_1" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated and separate financial statements [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:to="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ConsolidatedMember" xlink:label="ifrs-full_ConsolidatedMember" xlink:type="locator"/>
    <label id="id_13222622_2934858_1_1" xlink:label="ifrs-full_ConsolidatedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidated [member]</label>
    <label id="id_13222622_2934858_2_1" xlink:label="ifrs-full_ConsolidatedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ConsolidatedMember" xlink:to="ifrs-full_ConsolidatedMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ConsolidationOfOtherIncome" xlink:label="fmx_ConsolidationOfOtherIncome" xlink:type="locator"/>
    <label id="id_13222622_3050797_3_1" xlink:label="fmx_ConsolidationOfOtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidation of other income.</label>
    <label id="id_13222622_3050797_1_1" xlink:label="fmx_ConsolidationOfOtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation of other income</label>
    <label id="id_13222622_3050797_2_1" xlink:label="fmx_ConsolidationOfOtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation of Philippines</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ConsolidationOfOtherIncome" xlink:to="fmx_ConsolidationOfOtherIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ConsultingFeeThroughForeignCurrency" xlink:label="fmx_ConsultingFeeThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_13222622_2950645_3_1" xlink:label="fmx_ConsultingFeeThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consulting fee through foreign currency.</label>
    <label id="id_13222622_2950645_1_1" xlink:label="fmx_ConsultingFeeThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consulting Fee Through Foreign Currency</label>
    <label id="id_13222622_2950645_2_1" xlink:label="fmx_ConsultingFeeThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consulting Fees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ConsultingFeeThroughForeignCurrency" xlink:to="fmx_ConsultingFeeThroughForeignCurrency_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals" xlink:label="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals" xlink:type="locator"/>
    <label id="id_13222622_2950756_3_1" xlink:label="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contingencies associated with prior acquisitions or disposals.</label>
    <label id="id_13222622_2950756_1_1" xlink:label="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingencies Associated With Prior Acquisitions Or Disposals</label>
    <label id="id_13222622_2950756_2_1" xlink:label="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingencies associated with prior acquisitions or disposals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals" xlink:to="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ContingenciesGuaranteedAgreementsValue" xlink:label="fmx_ContingenciesGuaranteedAgreementsValue" xlink:type="locator"/>
    <label id="id_13222622_2949354_3_1" xlink:label="fmx_ContingenciesGuaranteedAgreementsValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contingencies guaranteed agreements value</label>
    <label id="id_13222622_2949354_1_1" xlink:label="fmx_ContingenciesGuaranteedAgreementsValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contingencies guaranteed agreements value</label>
    <label id="id_13222622_2949354_2_1" xlink:label="fmx_ContingenciesGuaranteedAgreementsValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingencies guaranteed agreements</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ContingenciesGuaranteedAgreementsValue" xlink:to="fmx_ContingenciesGuaranteedAgreementsValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:label="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:type="locator"/>
    <label id="id_13222622_2936132_1_1" xlink:label="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing involvement in derecognised financial assets by type of instrument [axis]</label>
    <label id="id_13222622_2936132_2_1" xlink:label="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Continuing involvement in derecognised financial assets by type of instrument [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:to="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ContributionsDueFromRelatedParties" xlink:label="fmx_ContributionsDueFromRelatedParties" xlink:type="locator"/>
    <label id="id_13222622_2948912_3_1" xlink:label="fmx_ContributionsDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contributions due from related parties.</label>
    <label id="id_13222622_2948912_1_1" xlink:label="fmx_ContributionsDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions due from related parties</label>
    <label id="id_13222622_2948912_2_1" xlink:label="fmx_ContributionsDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ContributionsDueFromRelatedParties" xlink:to="fmx_ContributionsDueFromRelatedParties_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ContributionsFromNonControllingInterest" xlink:label="fmx_ContributionsFromNonControllingInterest" xlink:type="locator"/>
    <label id="id_13222622_2960226_3_1" xlink:label="fmx_ContributionsFromNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Contributions from non controlling interest.</label>
    <label id="id_13222622_2960226_1_1" xlink:label="fmx_ContributionsFromNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Contributions From Non Controlling Interest</label>
    <label id="id_13222622_2960226_2_1" xlink:label="fmx_ContributionsFromNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contribution from non-controlling interest</label>
    <label id="id_13222622_2960226_12_1" xlink:label="fmx_ContributionsFromNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ContributionsFromNonControllingInterest" xlink:to="fmx_ContributionsFromNonControllingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_COP" xlink:label="currency_COP" xlink:type="locator"/>
    <label id="id_13222622_2934165_1_1" xlink:label="currency_COP_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Colombia, Pesos</label>
    <label id="id_13222622_2934165_2_1" xlink:label="currency_COP_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Colombian peso [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_COP" xlink:to="currency_COP_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CorporateDebtInstrumentsHeld" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld" xlink:type="locator"/>
    <label id="id_13222622_2936137_1_1" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate debt instruments held</label>
    <label id="id_13222622_2936137_6_1" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Amortized cost</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CorporateDebtInstrumentsHeld" xlink:to="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CorporateDebtSecurities1Member" xlink:label="fmx_CorporateDebtSecurities1Member" xlink:type="locator"/>
    <label id="id_13222622_2990520_3_1" xlink:label="fmx_CorporateDebtSecurities1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Corporate debt securities.</label>
    <label id="id_13222622_2990520_1_1" xlink:label="fmx_CorporateDebtSecurities1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Corporate Debt Securities 1 [Member]</label>
    <label id="id_13222622_2990520_2_1" xlink:label="fmx_CorporateDebtSecurities1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Corporate debt securities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CorporateDebtSecurities1Member" xlink:to="fmx_CorporateDebtSecurities1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <label id="id_13222622_2936141_1_1" xlink:label="ifrs-full_CostOfSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of sales</label>
    <label id="id_13222622_2936141_2_1" xlink:label="ifrs-full_CostOfSales_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of goods sold</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CostOfSales" xlink:to="ifrs-full_CostOfSales_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CostOfSalesMember" xlink:label="us-gaap_CostOfSalesMember" xlink:type="locator"/>
    <label id="id_13222622_2919464_1_1" xlink:label="us-gaap_CostOfSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of Sales [Member]</label>
    <label id="id_13222622_2919464_2_1" xlink:label="us-gaap_CostOfSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of goods sold [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostOfSalesMember" xlink:to="us-gaap_CostOfSalesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CostsAndExpenses1" xlink:label="fmx_CostsAndExpenses1" xlink:type="locator"/>
    <label id="id_13222622_2954428_3_1" xlink:label="fmx_CostsAndExpenses1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Costs and expenses.</label>
    <label id="id_13222622_2954428_1_1" xlink:label="fmx_CostsAndExpenses1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costs and Expenses1</label>
    <label id="id_13222622_2954428_2_1" xlink:label="fmx_CostsAndExpenses1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total cost and expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CostsAndExpenses1" xlink:to="fmx_CostsAndExpenses1_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CountryOfDomicileMember" xlink:label="ifrs-full_CountryOfDomicileMember" xlink:type="locator"/>
    <label id="id_13222622_2935174_1_1" xlink:label="ifrs-full_CountryOfDomicileMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country of domicile [member]</label>
    <label id="id_13222622_2935174_2_1" xlink:label="ifrs-full_CountryOfDomicileMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Country of domicile [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfDomicileMember" xlink:to="ifrs-full_CountryOfDomicileMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CountryOfIncorporationOfJointVenture" xlink:label="ifrs-full_CountryOfIncorporationOfJointVenture" xlink:type="locator"/>
    <label id="id_13222622_2936147_1_1" xlink:label="ifrs-full_CountryOfIncorporationOfJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country of incorporation of joint venture</label>
    <label id="id_13222622_2936147_2_1" xlink:label="ifrs-full_CountryOfIncorporationOfJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Place of Incorporation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfIncorporationOfJointVenture" xlink:to="ifrs-full_CountryOfIncorporationOfJointVenture_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfAssociate" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfAssociate" xlink:type="locator"/>
    <label id="id_13222622_2936148_1_1" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country of incorporation of associate</label>
    <label id="id_13222622_2936148_2_1" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Place of Incorporation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfIncorporationOrResidenceOfAssociate" xlink:to="ifrs-full_CountryOfIncorporationOrResidenceOfAssociate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:type="locator"/>
    <label id="id_13222622_2936149_1_1" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Country of incorporation of subsidiary</label>
    <label id="id_13222622_2936149_2_1" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Country of incorporation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:to="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_CR" xlink:label="country_CR" xlink:type="locator"/>
    <label id="id_13222622_2934403_1_1" xlink:label="country_CR_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">COSTA RICA</label>
    <label id="id_13222622_2934403_2_1" xlink:label="country_CR_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costa Rica [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_CR" xlink:to="country_CR_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_CRC" xlink:label="currency_CRC" xlink:type="locator"/>
    <label id="id_13222622_2934166_1_1" xlink:label="currency_CRC_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Costa Rica, Colones</label>
    <label id="id_13222622_2934166_2_1" xlink:label="currency_CRC_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Costa Rica, Colon [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_CRC" xlink:to="currency_CRC_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CreationDateAxis" xlink:label="ifrs-full_CreationDateAxis" xlink:type="locator"/>
    <label id="id_13222622_2936360_1_1" xlink:label="ifrs-full_CreationDateAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Creation date [axis]</label>
    <label id="id_13222622_2936360_2_1" xlink:label="ifrs-full_CreationDateAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Creation date [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CreationDateAxis" xlink:to="ifrs-full_CreationDateAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CrossCurrencySwapsOfBRLAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986885_3_1" xlink:label="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cross currency swaps of BRL against USD.</label>
    <label id="id_13222622_2986885_1_1" xlink:label="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps Of BRL Against USD [member]</label>
    <label id="id_13222622_2986885_2_1" xlink:label="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross currency swaps of BRL against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember" xlink:to="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CrossCurrencySwapsOfCLPAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986852_3_1" xlink:label="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cross currency swaps of CLP against USD.</label>
    <label id="id_13222622_2986852_1_1" xlink:label="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps Of CLP Against USD [member]</label>
    <label id="id_13222622_2986852_2_1" xlink:label="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross currency swaps of CLP against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember" xlink:to="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CrossCurrencySwapsOfCOPAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986882_3_1" xlink:label="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cross currency swaps Of COP against USD.</label>
    <label id="id_13222622_2986882_1_1" xlink:label="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps Of COP Against USD [member]</label>
    <label id="id_13222622_2986882_2_1" xlink:label="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps of COP Against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember" xlink:to="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CrossCurrencySwapsOfMXNAgainstBRLMember" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember" xlink:type="locator"/>
    <label id="id_13222622_3050805_3_1" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cross currency swaps of MXN against BRL.</label>
    <label id="id_13222622_3050805_1_1" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps Of MXN Against BRL [member]</label>
    <label id="id_13222622_3050805_2_1" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross currency swaps Of MXN against BRL [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember" xlink:to="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CrossCurrencySwapsOfMXNAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986881_3_1" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cross currency swaps of MXN against USD.</label>
    <label id="id_13222622_2986881_1_1" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cross Currency Swaps Of MXN Against USD [member]</label>
    <label id="id_13222622_2986881_2_1" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross currency swaps of MXN against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember" xlink:to="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CumulativeInflationPercentage" xlink:label="fmx_CumulativeInflationPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020757_3_1" xlink:label="fmx_CumulativeInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cumulative inflation percentage.</label>
    <label id="id_13222622_3020757_1_1" xlink:label="fmx_CumulativeInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cumulative Inflation Percentage</label>
    <label id="id_13222622_3020757_2_1" xlink:label="fmx_CumulativeInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Inflation</label>
    <label id="id_13222622_3020757_12_1" xlink:label="fmx_CumulativeInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Cumulative inflation percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CumulativeInflationPercentage" xlink:to="fmx_CumulativeInflationPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CumulativeInflationPeriod" xlink:label="fmx_CumulativeInflationPeriod" xlink:type="locator"/>
    <label id="id_13222622_2975252_3_1" xlink:label="fmx_CumulativeInflationPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cumulative inflation period.</label>
    <label id="id_13222622_2975252_1_1" xlink:label="fmx_CumulativeInflationPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cumulative Inflation Period</label>
    <label id="id_13222622_2975252_2_1" xlink:label="fmx_CumulativeInflationPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative Inflation Period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CumulativeInflationPeriod" xlink:to="fmx_CumulativeInflationPeriod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_CurrencyAxis" xlink:label="us-gaap_CurrencyAxis" xlink:type="locator"/>
    <label id="id_13222622_2919492_1_1" xlink:label="us-gaap_CurrencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</label>
    <label id="id_13222622_2919492_2_1" xlink:label="us-gaap_CurrencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currency [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrencyAxis" xlink:to="us-gaap_CurrencyAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrencyRiskMember" xlink:label="ifrs-full_CurrencyRiskMember" xlink:type="locator"/>
    <label id="id_13222622_2934877_1_1" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency risk [member]</label>
    <label id="id_13222622_2934877_2_1" xlink:label="ifrs-full_CurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency risk [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencyRiskMember" xlink:to="ifrs-full_CurrencyRiskMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrencySwapContractMember" xlink:label="ifrs-full_CurrencySwapContractMember" xlink:type="locator"/>
    <label id="id_13222622_2936156_1_1" xlink:label="ifrs-full_CurrencySwapContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency swap contract [member]</label>
    <label id="id_13222622_2936156_2_1" xlink:label="ifrs-full_CurrencySwapContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cross-currency swaps [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrencySwapContractMember" xlink:to="ifrs-full_CurrencySwapContractMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentAdvancesToSuppliers" xlink:label="ifrs-full_CurrentAdvancesToSuppliers" xlink:type="locator"/>
    <label id="id_13222622_2935179_1_1" xlink:label="ifrs-full_CurrentAdvancesToSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current advances to suppliers</label>
    <label id="id_13222622_2935179_2_1" xlink:label="ifrs-full_CurrentAdvancesToSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Advances to service suppliers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAdvancesToSuppliers" xlink:to="ifrs-full_CurrentAdvancesToSuppliers_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2936159_1_1" xlink:label="ifrs-full_CurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets</label>
    <label id="id_13222622_2936159_2_1" xlink:label="ifrs-full_CurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total current assets</label>
    <label id="id_13222622_2936159_6_1" xlink:label="ifrs-full_CurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssets" xlink:to="ifrs-full_CurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2936161_1_1" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current assets recognised as of acquisition date</label>
    <label id="id_13222622_2936161_2_1" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2936371_1_1" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current derivative financial assets</label>
    <label id="id_13222622_2936371_2_1" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instrument (current asset)</label>
    <label id="id_13222622_2936371_12_1" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments (see Note 20)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialAssets" xlink:to="ifrs-full_CurrentDerivativeFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2934882_1_1" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current derivative financial liabilities</label>
    <label id="id_13222622_2934882_2_1" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instrument (current liability)</label>
    <label id="id_13222622_2934882_12_1" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments (see Note 20)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_CurrentDerivativeFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost" xlink:label="ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost" xlink:type="locator"/>
    <label id="id_13222622_2936377_1_1" xlink:label="ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current financial liabilities at amortised cost</label>
    <label id="id_13222622_2936377_2_1" xlink:label="ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost" xlink:to="ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <label id="id_13222622_2934499_1_1" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</label>
    <label id="id_13222622_2934499_2_1" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentInterestPayable" xlink:label="ifrs-full_CurrentInterestPayable" xlink:type="locator"/>
    <label id="id_13222622_2936172_1_1" xlink:label="ifrs-full_CurrentInterestPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current interest payable</label>
    <label id="id_13222622_2936172_2_1" xlink:label="ifrs-full_CurrentInterestPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInterestPayable" xlink:to="ifrs-full_CurrentInterestPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2935191_1_1" xlink:label="ifrs-full_CurrentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current liabilities</label>
    <label id="id_13222622_2935191_2_1" xlink:label="ifrs-full_CurrentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</label>
    <label id="id_13222622_2935191_6_1" xlink:label="ifrs-full_CurrentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total current liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentLiabilities" xlink:to="ifrs-full_CurrentLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CurrentLoansToEmployees" xlink:label="fmx_CurrentLoansToEmployees" xlink:type="locator"/>
    <label id="id_13222622_2954464_3_1" xlink:label="fmx_CurrentLoansToEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current loans to employees.</label>
    <label id="id_13222622_2954464_1_1" xlink:label="fmx_CurrentLoansToEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Loans To Employees</label>
    <label id="id_13222622_2954464_2_1" xlink:label="fmx_CurrentLoansToEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loans to employees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CurrentLoansToEmployees" xlink:to="fmx_CurrentLoansToEmployees_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentMember" xlink:label="ifrs-full_CurrentMember" xlink:type="locator"/>
    <label id="id_13222622_2936386_1_1" xlink:label="ifrs-full_CurrentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current [member]</label>
    <label id="id_13222622_2936386_2_1" xlink:label="ifrs-full_CurrentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2016 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentMember" xlink:to="ifrs-full_CurrentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CurrentPortionOfBankLoansAndNotesPayable" xlink:label="fmx_CurrentPortionOfBankLoansAndNotesPayable" xlink:type="locator"/>
    <label id="id_13222622_2960014_3_1" xlink:label="fmx_CurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current portion of bank loans and notes payable.</label>
    <label id="id_13222622_2960014_1_1" xlink:label="fmx_CurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current Portion of Bank Loans and Notes Payable</label>
    <label id="id_13222622_2960014_2_1" xlink:label="fmx_CurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank loans and notes payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CurrentPortionOfBankLoansAndNotesPayable" xlink:to="fmx_CurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:type="locator"/>
    <label id="id_13222622_2936179_1_1" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current portion of non-current borrowings</label>
    <label id="id_13222622_2936179_2_1" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current portion of long-term debt</label>
    <label id="id_13222622_2936179_14_1" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Current portion of long term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:to="ifrs-full_CurrentPortionOfLongtermBorrowings_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentPrepaidExpenses" xlink:label="ifrs-full_CurrentPrepaidExpenses" xlink:type="locator"/>
    <label id="id_13222622_2934893_1_1" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current prepaid expenses</label>
    <label id="id_13222622_2934893_2_1" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid expenses</label>
    <label id="id_13222622_2934893_6_1" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Current prepaid expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentPrepaidExpenses" xlink:to="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CurrentRestrictedCash" xlink:label="fmx_CurrentRestrictedCash" xlink:type="locator"/>
    <label id="id_13222622_2951139_3_1" xlink:label="fmx_CurrentRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current restricted cash.</label>
    <label id="id_13222622_2951139_1_1" xlink:label="fmx_CurrentRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current restricted cash</label>
    <label id="id_13222622_2951139_2_1" xlink:label="fmx_CurrentRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current restricted cash</label>
    <label id="id_13222622_2951139_12_1" xlink:label="fmx_CurrentRestrictedCash_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Restricted cash</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CurrentRestrictedCash" xlink:to="fmx_CurrentRestrictedCash_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2936187_1_1" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current service cost, net defined benefit liability (asset)</label>
    <label id="id_13222622_2936187_2_1" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current service cost</label>
    <label id="id_13222622_2936187_12_1" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Current service costs included in cost of goods sold, administration and selling expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_CurrentSundryCreditors" xlink:label="fmx_CurrentSundryCreditors" xlink:type="locator"/>
    <label id="id_13222622_2949447_3_1" xlink:label="fmx_CurrentSundryCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current sundry creditors.</label>
    <label id="id_13222622_2949447_1_1" xlink:label="fmx_CurrentSundryCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current sundry creditors</label>
    <label id="id_13222622_2949447_2_1" xlink:label="fmx_CurrentSundryCreditors_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sundry creditors</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CurrentSundryCreditors" xlink:to="fmx_CurrentSundryCreditors_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <label id="id_13222622_2936391_1_1" xlink:label="ifrs-full_CurrentTaxAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax assets, current</label>
    <label id="id_13222622_2936391_2_1" xlink:label="ifrs-full_CurrentTaxAssetsCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recoverable taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxAssetsCurrent" xlink:to="ifrs-full_CurrentTaxAssetsCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxAssetsNoncurrent" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent" xlink:type="locator"/>
    <label id="id_13222622_2936188_1_1" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax assets, non-current</label>
    <label id="id_13222622_2936188_2_1" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recoverable taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxAssetsNoncurrent" xlink:to="ifrs-full_CurrentTaxAssetsNoncurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <label id="id_13222622_2936189_1_1" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax expense (income)</label>
    <label id="id_13222622_2936189_2_1" xlink:label="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current tax expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxExpenseIncome" xlink:to="ifrs-full_CurrentTaxExpenseIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="locator"/>
    <label id="id_13222622_2936192_1_1" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current tax liabilities, current</label>
    <label id="id_13222622_2936192_2_1" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current tax liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <label id="id_13222622_2936194_1_1" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current trade receivables</label>
    <label id="id_13222622_2936194_2_1" xlink:label="ifrs-full_CurrentTradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentTradeReceivables" xlink:to="ifrs-full_CurrentTradeReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2934905_1_1" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Customer-related intangible assets recognised as of acquisition date</label>
    <label id="id_13222622_2934905_2_1" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets recognised as of acquisition date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DateOfAcquisition2013" xlink:label="ifrs-full_DateOfAcquisition2013" xlink:type="locator"/>
    <label id="id_13222622_2934907_1_1" xlink:label="ifrs-full_DateOfAcquisition2013_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Date of acquisition</label>
    <label id="id_13222622_2934907_2_1" xlink:label="ifrs-full_DateOfAcquisition2013_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Date of acquisition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DateOfAcquisition2013" xlink:to="ifrs-full_DateOfAcquisition2013_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DebtSecuritiesMember" xlink:label="ifrs-full_DebtSecuritiesMember" xlink:type="locator"/>
    <label id="id_13222622_2936196_1_1" xlink:label="ifrs-full_DebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt securities [member]</label>
    <label id="id_13222622_2936196_2_1" xlink:label="ifrs-full_DebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DebtSecuritiesMember" xlink:to="ifrs-full_DebtSecuritiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio" xlink:label="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio" xlink:type="locator"/>
    <label id="id_13222622_3022897_3_1" xlink:label="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Debt to earning before interest taxes and depreciation amortization ratio.</label>
    <label id="id_13222622_3022897_1_1" xlink:label="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Debt To Earning Before Interest Taxes And Depreciation Amortization Ratio</label>
    <label id="id_13222622_3022897_2_1" xlink:label="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Debt to earnings before interest, taxes, depreciation and amortization ratio</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio" xlink:to="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeconsolidationEffectOfOtherExpenses" xlink:label="fmx_DeconsolidationEffectOfOtherExpenses" xlink:type="locator"/>
    <label id="id_13222622_3050798_3_1" xlink:label="fmx_DeconsolidationEffectOfOtherExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deconsolidation effect of other expenses.</label>
    <label id="id_13222622_3050798_1_1" xlink:label="fmx_DeconsolidationEffectOfOtherExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deconsolidation effect of other expenses</label>
    <label id="id_13222622_3050798_2_1" xlink:label="fmx_DeconsolidationEffectOfOtherExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuela deconsolidation effect</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeconsolidationEffectOfOtherExpenses" xlink:to="fmx_DeconsolidationEffectOfOtherExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross" xlink:type="locator"/>
    <label id="id_13222622_3044057_3_1" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deconsolidation effect reduction of assets property plant and equipment gross.</label>
    <label id="id_13222622_3044057_1_1" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deconsolidation Effect Reduction Of Assets Property Plant And Equipment Gross</label>
    <label id="id_13222622_3044057_2_1" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuela deconsolidation effect</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross" xlink:to="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeconsolidationOfSubsidiaries" xlink:label="fmx_DeconsolidationOfSubsidiaries" xlink:type="locator"/>
    <label id="id_13222622_2966162_3_1" xlink:label="fmx_DeconsolidationOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deconsolidation of subsidiaries.</label>
    <label id="id_13222622_2966162_1_1" xlink:label="fmx_DeconsolidationOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deconsolidation of subsidiaries</label>
    <label id="id_13222622_2966162_2_1" xlink:label="fmx_DeconsolidationOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deconsolidation of subsidiaries</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeconsolidationOfSubsidiaries" xlink:to="fmx_DeconsolidationOfSubsidiaries_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DecreaseInForeignCurrencyExchangeRatePercentage" xlink:label="fmx_DecreaseInForeignCurrencyExchangeRatePercentage" xlink:type="locator"/>
    <label id="id_13222622_3021040_3_1" xlink:label="fmx_DecreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease in foreign currency exchange rate percentage.</label>
    <label id="id_13222622_3021040_1_1" xlink:label="fmx_DecreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease In Foreign Currency Exchange Rate Percentage</label>
    <label id="id_13222622_3021040_2_1" xlink:label="fmx_DecreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Exchange Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DecreaseInForeignCurrencyExchangeRatePercentage" xlink:to="fmx_DecreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DecreaseInForeignCurrencyRateEffectOnEquity" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnEquity" xlink:type="locator"/>
    <label id="id_13222622_2963911_3_1" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease in foreign currency rate effect on equity.</label>
    <label id="id_13222622_2963911_1_1" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in foreign currency rate effect on equity</label>
    <label id="id_13222622_2963911_2_1" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DecreaseInForeignCurrencyRateEffectOnEquity" xlink:to="fmx_DecreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:type="locator"/>
    <label id="id_13222622_2963909_3_1" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease in foreign currency rate effect on profit or loss</label>
    <label id="id_13222622_2963909_1_1" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in foreign currency rate effect on profit or loss</label>
    <label id="id_13222622_2963909_2_1" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Profit or Loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:to="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DecreaseInProvisionsFromAmnestyAdoption" xlink:label="fmx_DecreaseInProvisionsFromAmnestyAdoption" xlink:type="locator"/>
    <label id="id_13222622_2952415_3_1" xlink:label="fmx_DecreaseInProvisionsFromAmnestyAdoption_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease in provisions from amnesty adoption.</label>
    <label id="id_13222622_2952415_1_1" xlink:label="fmx_DecreaseInProvisionsFromAmnestyAdoption_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in provisions from amnesty adoption</label>
    <label id="id_13222622_2952415_14_1" xlink:label="fmx_DecreaseInProvisionsFromAmnestyAdoption_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Brazil amnesty adoption</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DecreaseInProvisionsFromAmnestyAdoption" xlink:to="fmx_DecreaseInProvisionsFromAmnestyAdoption_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DecreaseInProvisionsResultingFromPayments" xlink:label="fmx_DecreaseInProvisionsResultingFromPayments" xlink:type="locator"/>
    <label id="id_13222622_2952414_3_1" xlink:label="fmx_DecreaseInProvisionsResultingFromPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Decrease in provisions resulting from payments.</label>
    <label id="id_13222622_2952414_1_1" xlink:label="fmx_DecreaseInProvisionsResultingFromPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in provisions resulting from payments</label>
    <label id="id_13222622_2952414_14_1" xlink:label="fmx_DecreaseInProvisionsResultingFromPayments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DecreaseInProvisionsResultingFromPayments" xlink:to="fmx_DecreaseInProvisionsResultingFromPayments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DecreaseInProvisionsThroughCancellationAndExpiration" xlink:label="fmx_DecreaseInProvisionsThroughCancellationAndExpiration" xlink:type="locator"/>
    <label id="id_13222622_2952413_3_1" xlink:label="fmx_DecreaseInProvisionsThroughCancellationAndExpiration_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cancellation and expiration of indirect taxes.</label>
    <label id="id_13222622_2952413_1_1" xlink:label="fmx_DecreaseInProvisionsThroughCancellationAndExpiration_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease in Provisions Through Cancellation And Expiration</label>
    <label id="id_13222622_2952413_14_1" xlink:label="fmx_DecreaseInProvisionsThroughCancellationAndExpiration_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Cancellation and expiration</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DecreaseInProvisionsThroughCancellationAndExpiration" xlink:to="fmx_DecreaseInProvisionsThroughCancellationAndExpiration_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2936402_1_1" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease through loss of control of subsidiary, intangible assets and goodwill</label>
    <label id="id_13222622_2936402_14_1" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Venezuela deconsolidation effect</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2936403_1_1" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Decrease through loss of control of subsidiary, property, plant and equipment</label>
    <label id="id_13222622_2936403_14_1" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Venezuela deconsoldiation effect</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:to="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefaultFinancialStatementsDateMember" xlink:label="ifrs-full_DefaultFinancialStatementsDateMember" xlink:type="locator"/>
    <label id="id_13222622_2936404_1_1" xlink:label="ifrs-full_DefaultFinancialStatementsDateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Default financial statements date [member]</label>
    <label id="id_13222622_2936404_2_1" xlink:label="ifrs-full_DefaultFinancialStatementsDateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Default financial statements date [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefaultFinancialStatementsDateMember" xlink:to="ifrs-full_DefaultFinancialStatementsDateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries" xlink:label="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries" xlink:type="locator"/>
    <label id="id_13222622_2950955_3_1" xlink:label="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Asset Acquisition of Subsidiaries</label>
    <label id="id_13222622_2950955_1_1" xlink:label="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Income Tax Asset Acquisition of Subsidiaries</label>
    <label id="id_13222622_2950955_2_1" xlink:label="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of subsidiaries (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries" xlink:to="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <label id="id_13222622_2936208_1_1" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets</label>
    <label id="id_13222622_2936208_2_1" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax assets</label>
    <label id="id_13222622_2936208_14_1" xlink:label="ifrs-full_DeferredTaxAssets_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred tax asset</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxAssets" xlink:to="ifrs-full_DeferredTaxAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwards1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwards1" xlink:type="locator"/>
    <label id="id_13222622_2970850_3_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwards1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets operating loss carry forwards.</label>
    <label id="id_13222622_2970850_1_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwards1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets Operating Loss Carry Forwards1</label>
    <label id="id_13222622_2970850_4_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwards1_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of the year</label>
    <label id="id_13222622_2970850_5_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwards1_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of the year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsOperatingLossCarryForwards1" xlink:to="fmx_DeferredTaxAssetsOperatingLossCarryForwards1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions" xlink:type="locator"/>
    <label id="id_13222622_2950933_3_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets operating loss carry forwards additions.</label>
    <label id="id_13222622_2950933_1_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets Operating Loss Carry Forwards Additions</label>
    <label id="id_13222622_2950933_2_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions" xlink:to="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation" xlink:type="locator"/>
    <label id="id_13222622_2951256_3_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets operating loss carry forwards foreign currency translation.</label>
    <label id="id_13222622_2951256_1_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets Operating Loss Carry Forwards Foreign Currency Translation</label>
    <label id="id_13222622_2951256_2_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Translation effect of beginning balances</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation" xlink:to="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions" xlink:type="locator"/>
    <label id="id_13222622_2950932_3_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets operating loss carry forwards provisions.</label>
    <label id="id_13222622_2950932_1_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets Operating Loss Carry Forwards Provisions</label>
    <label id="id_13222622_2950932_14_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reserved</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions" xlink:to="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses" xlink:type="locator"/>
    <label id="id_13222622_2950930_3_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets operating loss carry forwards usage of tax losses.</label>
    <label id="id_13222622_2950930_1_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets Operating Loss Carry Forwards Usage Of Tax Losses</label>
    <label id="id_13222622_2950930_14_1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Usage of tax losses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses" xlink:to="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsRelatingToProvisions" xlink:label="fmx_DeferredTaxAssetsRelatingToProvisions" xlink:type="locator"/>
    <label id="id_13222622_2947164_3_1" xlink:label="fmx_DeferredTaxAssetsRelatingToProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax assets relating to provisions.</label>
    <label id="id_13222622_2947164_1_1" xlink:label="fmx_DeferredTaxAssetsRelatingToProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax assets relating to provisions</label>
    <label id="id_13222622_2947164_2_1" xlink:label="fmx_DeferredTaxAssetsRelatingToProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax provision for the year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsRelatingToProvisions" xlink:to="fmx_DeferredTaxAssetsRelatingToProvisions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses" xlink:label="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses" xlink:type="locator"/>
    <label id="id_13222622_2953571_3_1" xlink:label="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Unrealized Exchange (Gains) Losses</label>
    <label id="id_13222622_2953571_1_1" xlink:label="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Assets, Unrealized Exchange (Gains) Losses</label>
    <label id="id_13222622_2953571_2_1" xlink:label="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses" xlink:to="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <label id="id_13222622_2936210_1_1" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income)</label>
    <label id="id_13222622_2936210_2_1" xlink:label="ifrs-full_DeferredTaxExpenseIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred income tax related to consolidated statement of income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncome" xlink:to="ifrs-full_DeferredTaxExpenseIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:type="locator"/>
    <label id="id_13222622_2935216_1_1" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) [abstract]</label>
    <label id="id_13222622_2935216_2_1" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax expense:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:to="ifrs-full_DeferredTaxExpenseIncomeAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxExpenseIncomeCurrent" xlink:label="fmx_DeferredTaxExpenseIncomeCurrent" xlink:type="locator"/>
    <label id="id_13222622_2966139_3_1" xlink:label="fmx_DeferredTaxExpenseIncomeCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax expense income current.</label>
    <label id="id_13222622_2966139_1_1" xlink:label="fmx_DeferredTaxExpenseIncomeCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense income current</label>
    <label id="id_13222622_2966139_6_1" xlink:label="fmx_DeferredTaxExpenseIncomeCurrent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total deferred tax income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxExpenseIncomeCurrent" xlink:to="fmx_DeferredTaxExpenseIncomeCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2963670_3_1" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax expense income net recorded in share of profit of associates and joint ventures accounted for using equity method.</label>
    <label id="id_13222622_2963670_1_1" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Expense Income Net Recorded In Share Of Profit Of Associates And Joint Ventures Accounted For Using Equity Method</label>
    <label id="id_13222622_2963670_2_1" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax income net recorded in share of the profit of associates and joint ventures accounted for using the equity method</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label id="id_13222622_2936211_1_1" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) recognised in profit or loss</label>
    <label id="id_13222622_2936211_6_1" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Deferred tax income, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome" xlink:label="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_3051197_3_1" xlink:label="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) relating to components of accumulated other comprehensive income.</label>
    <label id="id_13222622_3051197_1_1" xlink:label="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) relating to components of accumulated other comprehensive income</label>
    <label id="id_13222622_3051197_6_1" xlink:label="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total deferred tax loss (income) related to AOCI</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome" xlink:to="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:type="locator"/>
    <label id="id_13222622_2934924_1_1" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax expense (income) relating to origination and reversal of temporary differences</label>
    <label id="id_13222622_2934924_2_1" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Origination and reversal of temporary differences</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet" xlink:label="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet" xlink:type="locator"/>
    <label id="id_13222622_2951017_3_1" xlink:label="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax expense recognition application of tax losses net.</label>
    <label id="id_13222622_2951017_1_1" xlink:label="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Expense Recognition Application Of Tax Losses Net</label>
    <label id="id_13222622_2951017_2_1" xlink:label="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Recognition) application of tax losses, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet" xlink:to="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2963907_3_1" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax income net recorded in share of the profit of associates and joint ventures accounted for using the equity method.</label>
    <label id="id_13222622_2963907_1_1" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax income net recorded in share of the profit of associates and joint ventures accounted for using the equity method</label>
    <label id="id_13222622_2963907_2_1" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax income net recorded in share of the profit of associates and joint ventures accounted for using the equity method</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:to="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2936212_1_1" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</label>
    <label id="id_13222622_2936212_2_1" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</label>
    <label id="id_13222622_2936212_12_1" xlink:label="ifrs-full_DeferredTaxLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilities" xlink:to="ifrs-full_DeferredTaxLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2935217_1_1" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities recognised as of acquisition date</label>
    <label id="id_13222622_2935217_2_1" xlink:label="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_DeferredTaxLiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2935218_1_1" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax liability (asset)</label>
    <label id="id_13222622_2935218_14_1" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Deferred income tax related to consolidated statement of financial position</label>
    <label id="id_13222622_2935218_16_1" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2935218_17_1" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Initial balance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxLiabilityAsset" xlink:to="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxRecoveryPeriod" xlink:label="fmx_DeferredTaxRecoveryPeriod" xlink:type="locator"/>
    <label id="id_13222622_2977612_3_1" xlink:label="fmx_DeferredTaxRecoveryPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred tax recovery period.</label>
    <label id="id_13222622_2977612_1_1" xlink:label="fmx_DeferredTaxRecoveryPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred tax recovery period</label>
    <label id="id_13222622_2977612_2_1" xlink:label="fmx_DeferredTaxRecoveryPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deferred tax recovery period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxRecoveryPeriod" xlink:to="fmx_DeferredTaxRecoveryPeriod_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome" xlink:label="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_3051195_3_1" xlink:label="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Deferred Tax Relating To Remeasurements Of Defined Benefit Liability accumulated Other Comprehensive Income</label>
    <label id="id_13222622_3051195_1_1" xlink:label="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Deferred Tax Relating To Remeasurements Of Defined Benefit Liability accumulated Other Comprehensive Income</label>
    <label id="id_13222622_3051195_14_1" xlink:label="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefit liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome" xlink:to="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="locator"/>
    <label id="id_13222622_2934927_1_1" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit obligation, at present value</label>
    <label id="id_13222622_2934927_4_1" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2934927_5_1" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Initial balance</label>
    <label id="id_13222622_2934927_2_1" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Defined benefit obligation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:to="ifrs-full_DefinedBenefitObligationAtPresentValue_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitObligationFundsAtFairValue" xlink:label="fmx_DefinedBenefitObligationFundsAtFairValue" xlink:type="locator"/>
    <label id="id_13222622_2949141_3_1" xlink:label="fmx_DefinedBenefitObligationFundsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit obligation funds at fair value.</label>
    <label id="id_13222622_2949141_1_1" xlink:label="fmx_DefinedBenefitObligationFundsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined Benefit Obligation Funds at Fair Value</label>
    <label id="id_13222622_2949141_14_1" xlink:label="fmx_DefinedBenefitObligationFundsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Defined benefit obligation funds at fair value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitObligationFundsAtFairValue" xlink:to="fmx_DefinedBenefitObligationFundsAtFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1" xlink:type="locator"/>
    <label id="id_13222622_2962065_3_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments next twelve months.</label>
    <label id="id_13222622_2962065_1_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments next twelve months1</label>
    <label id="id_13222622_2962065_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive" xlink:type="locator"/>
    <label id="id_13222622_2962069_3_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments in year five.</label>
    <label id="id_13222622_2962069_1_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payment year five</label>
    <label id="id_13222622_2962069_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour" xlink:type="locator"/>
    <label id="id_13222622_2962068_3_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments year four.</label>
    <label id="id_13222622_2962068_1_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payment year four</label>
    <label id="id_13222622_2962068_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen" xlink:type="locator"/>
    <label id="id_13222622_2953290_3_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments year six to ten.</label>
    <label id="id_13222622_2953290_1_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payment year six to ten</label>
    <label id="id_13222622_2953290_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2023 to 2027</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree" xlink:type="locator"/>
    <label id="id_13222622_2962067_3_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments year three.</label>
    <label id="id_13222622_2962067_1_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payment year three</label>
    <label id="id_13222622_2962067_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo" xlink:type="locator"/>
    <label id="id_13222622_2962066_3_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payments year two.</label>
    <label id="id_13222622_2962066_1_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plan expected future benefit payment year two</label>
    <label id="id_13222622_2962066_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <label id="id_13222622_2934928_1_1" xlink:label="ifrs-full_DefinedBenefitPlansAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plans [axis]</label>
    <label id="id_13222622_2934928_2_1" xlink:label="ifrs-full_DefinedBenefitPlansAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Defined benefit plans [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansAxis" xlink:to="ifrs-full_DefinedBenefitPlansAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <label id="id_13222622_2936213_1_1" xlink:label="ifrs-full_DefinedBenefitPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Defined benefit plans [member]</label>
    <label id="id_13222622_2936213_2_1" xlink:label="ifrs-full_DefinedBenefitPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Defined benefit plans [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DefinedBenefitPlansMember" xlink:to="ifrs-full_DefinedBenefitPlansMember_lbl" xlink:type="arc"/>
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    <label id="id_13222622_2999472_1_1" xlink:label="fmx_DerivativeContractMetHedgingCriteriaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract Met Hedging Criteria [Member]</label>
    <label id="id_13222622_2999472_2_1" xlink:label="fmx_DerivativeContractMetHedgingCriteriaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative contracts that met hedging criteria [Member]</label>
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    <label id="id_13222622_2999473_1_1" xlink:label="fmx_DerivativeContractNotMetHedgingCriteriaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Contract Not Met Hedging Criteria [Member]</label>
    <label id="id_13222622_2999473_2_1" xlink:label="fmx_DerivativeContractNotMetHedgingCriteriaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments did not meet hedging criteria [member]</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities" xlink:label="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2960049_3_1" xlink:label="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative financial instruments classified as financing activities.</label>
    <label id="id_13222622_2960049_1_1" xlink:label="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative Financial Instruments Classified as Financing Activities</label>
    <label id="id_13222622_2960049_14_1" xlink:label="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DerivativeFinancialInstrumentsMember" xlink:label="fmx_DerivativeFinancialInstrumentsMember" xlink:type="locator"/>
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    <label id="id_13222622_2996877_1_1" xlink:label="fmx_DerivativeFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial instruments [member]</label>
    <label id="id_13222622_2996877_2_1" xlink:label="fmx_DerivativeFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments [Member]</label>
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    <label id="id_13222622_2980868_3_1" xlink:label="fmx_DerivativeFinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative financial liabilities.</label>
    <label id="id_13222622_2980868_1_1" xlink:label="fmx_DerivativeFinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial liabilities [member]</label>
    <label id="id_13222622_2980868_2_1" xlink:label="fmx_DerivativeFinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial liabilities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerivativeFinancialLiabilitiesMember" xlink:to="fmx_DerivativeFinancialLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:label="ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:type="locator"/>
    <label id="id_13222622_2936217_1_1" xlink:label="ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derivative financial liabilities, undiscounted cash flows</label>
    <label id="id_13222622_2936217_2_1" xlink:label="ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial liabilities</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3015345_3_1" xlink:label="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of accounting policy for administrative and selling expenses .</label>
    <label id="id_13222622_3015345_1_1" xlink:label="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description Of Accounting Policy For Administrative And Selling Expenses [Policy Text Block]</label>
    <label id="id_13222622_3015345_2_1" xlink:label="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Administrative and selling expenses</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory" xlink:type="locator"/>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForFinancialLiabilitiesAndEquityInstrumentsExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForFinancialLiabilitiesAndEquityInstrumentsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3018820_3_1" xlink:label="fmx_DescriptionOfAccountingPolicyForFinancialLiabilitiesAndEquityInstrumentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of accounting policy for financial liabilities and equity instruments.</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForInventoriesAndCostOfGoodsSoldExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForInventoriesAndCostOfGoodsSoldExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForInvestmentInAssociatesAndJointVenturesExplanatory" xlink:type="locator"/>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForIssuanceOfSubsidiaryStockExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForIssuanceOfSubsidiaryStockExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForLeasesExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory" xlink:type="locator"/>
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    <label id="id_13222622_2936233_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForNoncurrentAssetsOrDisposalGroupsClassifiedAsHeldForSaleExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current assets held for sale</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForOtherCurrentAssetsExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForOtherCurrentAssetsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014690_3_1" xlink:label="fmx_DescriptionOfAccountingPolicyForOtherCurrentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of accounting policy for other current assets.</label>
    <label id="id_13222622_3014690_1_1" xlink:label="fmx_DescriptionOfAccountingPolicyForOtherCurrentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description Of Accounting Policy For Other Current Assets [Text Block]</label>
    <label id="id_13222622_3014690_2_1" xlink:label="fmx_DescriptionOfAccountingPolicyForOtherCurrentAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory" xlink:type="locator"/>
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    <label id="id_13222622_2936428_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2936234_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for provisions [text block]</label>
    <label id="id_13222622_2936234_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3015344_3_1" xlink:label="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description Of Accounting Policy For Recognition Of Effects Of Inflation In Countries With Hyperinflationary Economic Environments[Text Block]</label>
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    <label id="id_13222622_2935912_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for recognition of revenue [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2935914_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for restricted cash and cash equivalents [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2935917_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for share-based payment transactions [text block]</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfDisability" xlink:label="fmx_DescriptionOfDisability" xlink:type="locator"/>
    <label id="id_13222622_2974950_3_1" xlink:label="fmx_DescriptionOfDisability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of disability.</label>
    <label id="id_13222622_2974950_1_1" xlink:label="fmx_DescriptionOfDisability_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Disability</label>
    <label id="id_13222622_2974950_2_1" xlink:label="fmx_DescriptionOfDisability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disability</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfDividendPayable" xlink:label="fmx_DescriptionOfDividendPayable" xlink:type="locator"/>
    <label id="id_13222622_2974921_3_1" xlink:label="fmx_DescriptionOfDividendPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of dividend payable.</label>
    <label id="id_13222622_2974921_1_1" xlink:label="fmx_DescriptionOfDividendPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Dividend Payable</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfFunctionalCurrency" xlink:label="ifrs-full_DescriptionOfFunctionalCurrency" xlink:type="locator"/>
    <label id="id_13222622_2935949_1_1" xlink:label="ifrs-full_DescriptionOfFunctionalCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of functional currency</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfMortality" xlink:label="fmx_DescriptionOfMortality" xlink:type="locator"/>
    <label id="id_13222622_2974949_3_1" xlink:label="fmx_DescriptionOfMortality_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of mortality.</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary" xlink:label="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary" xlink:type="locator"/>
    <label id="id_13222622_2976115_3_1" xlink:label="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of nature of entity's relationship with subsidiary.</label>
    <label id="id_13222622_2976115_1_1" xlink:label="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of nature of entity's relationship with subsidiary</label>
    <label id="id_13222622_2976115_2_1" xlink:label="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership interest description</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary" xlink:to="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate" xlink:type="locator"/>
    <label id="id_13222622_2936483_1_1" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of nature of entity's relationship with associate</label>
    <label id="id_13222622_2936483_2_1" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Activity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate" xlink:to="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture" xlink:type="locator"/>
    <label id="id_13222622_2936484_1_1" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of nature of entity's relationship with joint venture</label>
    <label id="id_13222622_2936484_2_1" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Principal Activity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture" xlink:to="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship" xlink:label="ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship" xlink:type="locator"/>
    <label id="id_13222622_2936307_1_1" xlink:label="ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of nature of related party relationship</label>
    <label id="id_13222622_2936307_2_1" xlink:label="ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship" xlink:to="ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfOptionContractWithNoncontrollingInterest" xlink:label="fmx_DescriptionOfOptionContractWithNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_13222622_2975251_3_1" xlink:label="fmx_DescriptionOfOptionContractWithNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of option contract with noncontrolling interest.</label>
    <label id="id_13222622_2975251_1_1" xlink:label="fmx_DescriptionOfOptionContractWithNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Option Contract With Noncontrolling Interest</label>
    <label id="id_13222622_2975251_2_1" xlink:label="fmx_DescriptionOfOptionContractWithNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Description of option contract with noncontrolling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfOptionContractWithNoncontrollingInterest" xlink:to="fmx_DescriptionOfOptionContractWithNoncontrollingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfRestOfEmployeeTurnover" xlink:label="fmx_DescriptionOfRestOfEmployeeTurnover" xlink:type="locator"/>
    <label id="id_13222622_2974948_3_1" xlink:label="fmx_DescriptionOfRestOfEmployeeTurnover_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of rest of employee turnover.</label>
    <label id="id_13222622_2974948_1_1" xlink:label="fmx_DescriptionOfRestOfEmployeeTurnover_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Rest of Employee Turnover</label>
    <label id="id_13222622_2974948_2_1" xlink:label="fmx_DescriptionOfRestOfEmployeeTurnover_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee turnover table</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfRestOfEmployeeTurnover" xlink:to="fmx_DescriptionOfRestOfEmployeeTurnover_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfTypeOfEconomy" xlink:label="fmx_DescriptionOfTypeOfEconomy" xlink:type="locator"/>
    <label id="id_13222622_2975686_3_1" xlink:label="fmx_DescriptionOfTypeOfEconomy_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description Of Type Of Economy</label>
    <label id="id_13222622_2975686_1_1" xlink:label="fmx_DescriptionOfTypeOfEconomy_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description Of Type Of Economy</label>
    <label id="id_13222622_2975686_2_1" xlink:label="fmx_DescriptionOfTypeOfEconomy_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Type of Economy</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfTypeOfEconomy" xlink:to="fmx_DescriptionOfTypeOfEconomy_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DescriptionOfVariableCapitalAmount" xlink:label="fmx_DescriptionOfVariableCapitalAmount" xlink:type="locator"/>
    <label id="id_13222622_2975685_3_1" xlink:label="fmx_DescriptionOfVariableCapitalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Description of variable capital amount.</label>
    <label id="id_13222622_2975685_1_1" xlink:label="fmx_DescriptionOfVariableCapitalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description Of Variable Capital Amount</label>
    <label id="id_13222622_2975685_2_1" xlink:label="fmx_DescriptionOfVariableCapitalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Description of variable capital amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfVariableCapitalAmount" xlink:to="fmx_DescriptionOfVariableCapitalAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DICOMMember" xlink:label="fmx_DICOMMember" xlink:type="locator"/>
    <label id="id_13222622_2980700_3_1" xlink:label="fmx_DICOMMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">DICOM.</label>
    <label id="id_13222622_2980700_1_1" xlink:label="fmx_DICOMMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DICOM [member]</label>
    <label id="id_13222622_2980700_2_1" xlink:label="fmx_DICOMMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DICOM [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DICOMMember" xlink:to="fmx_DICOMMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DifusionYFomentoCulturalACMember" xlink:label="fmx_DifusionYFomentoCulturalACMember" xlink:type="locator"/>
    <label id="id_13222622_2990611_3_1" xlink:label="fmx_DifusionYFomentoCulturalACMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Difusion y Fomento Cultural, A.C.</label>
    <label id="id_13222622_2990611_1_1" xlink:label="fmx_DifusionYFomentoCulturalACMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Difusion y Fomento Cultural A C [Member]</label>
    <label id="id_13222622_2990611_2_1" xlink:label="fmx_DifusionYFomentoCulturalACMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Difusion y Fomento Cultural, A.C. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DifusionYFomentoCulturalACMember" xlink:to="fmx_DifusionYFomentoCulturalACMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:type="locator"/>
    <label id="id_13222622_2937011_1_1" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diluted earnings (loss) per share from continuing operations</label>
    <label id="id_13222622_2937011_2_1" xlink:label="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted net controlling interest income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations" xlink:to="ifrs-full_DilutedEarningsLossPerShareFromContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DilutedEarningsPerShareAbstract" xlink:label="ifrs-full_DilutedEarningsPerShareAbstract" xlink:type="locator"/>
    <label id="id_13222622_2936527_1_1" xlink:label="ifrs-full_DilutedEarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Diluted earnings per share [abstract]</label>
    <label id="id_13222622_2936527_2_1" xlink:label="ifrs-full_DilutedEarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Diluted controlling interest net income:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutedEarningsPerShareAbstract" xlink:to="ifrs-full_DilutedEarningsPerShareAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:type="locator"/>
    <label id="id_13222622_2936037_1_1" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dilutive effect of share options on number of ordinary shares</label>
    <label id="id_13222622_2936037_2_1" xlink:label="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of dilution associated with non-vested shares for share based payment plans</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares" xlink:to="ifrs-full_DilutiveEffectOfShareOptionsOnNumberOfOrdinaryShares_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DIPROMember" xlink:label="fmx_DIPROMember" xlink:type="locator"/>
    <label id="id_13222622_3012256_3_1" xlink:label="fmx_DIPROMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">DIPRO [member]</label>
    <label id="id_13222622_3012256_1_1" xlink:label="fmx_DIPROMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">DIPRO [member]</label>
    <label id="id_13222622_3012256_2_1" xlink:label="fmx_DIPROMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">DIPRO [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DIPROMember" xlink:to="fmx_DIPROMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory" xlink:label="fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3017395_3_1" xlink:label="fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure deferred tax related to other comprehensive income.</label>
    <label id="id_13222622_3017395_1_1" xlink:label="fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Deferred Tax Related To Other Comprehensive Income[Table Text Block]</label>
    <label id="id_13222622_3017395_2_1" xlink:label="fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Deferred Tax related to Accumulated Other Comprehensive Income (AOCI)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory" xlink:to="fmx_DisclosureDeferredTaxRelatedToOtherComprehensiveIncomeExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfAccountsReceivableLineItems" xlink:label="fmx_DisclosureOfAccountsReceivableLineItems" xlink:type="locator"/>
    <label id="id_13222622_2944678_3_1" xlink:label="fmx_DisclosureOfAccountsReceivableLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure Of Accounts Receivable [line items]</label>
    <label id="id_13222622_2944678_1_1" xlink:label="fmx_DisclosureOfAccountsReceivableLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Accounts Receivable [line items]</label>
    <label id="id_13222622_2944678_2_1" xlink:label="fmx_DisclosureOfAccountsReceivableLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure Of Accounts Receivable [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfAccountsReceivableLineItems" xlink:to="fmx_DisclosureOfAccountsReceivableLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfAccountsReceivableTable" xlink:label="fmx_DisclosureOfAccountsReceivableTable" xlink:type="locator"/>
    <label id="id_13222622_2979365_3_1" xlink:label="fmx_DisclosureOfAccountsReceivableTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of Accounts receivable Table.</label>
    <label id="id_13222622_2979365_1_1" xlink:label="fmx_DisclosureOfAccountsReceivableTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Accounts receivable [Table]</label>
    <label id="id_13222622_2979365_2_1" xlink:label="fmx_DisclosureOfAccountsReceivableTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Accounts receivable [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfAccountsReceivableTable" xlink:to="fmx_DisclosureOfAccountsReceivableTable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfActuarialAssumptionsExplanatory" xlink:label="fmx_DisclosureOfActuarialAssumptionsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3018405_3_1" xlink:label="fmx_DisclosureOfActuarialAssumptionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of actuarial assumptions.</label>
    <label id="id_13222622_3018405_1_1" xlink:label="fmx_DisclosureOfActuarialAssumptionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of actuarial assumptions [text block]</label>
    <label id="id_13222622_3018405_2_1" xlink:label="fmx_DisclosureOfActuarialAssumptionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Actuarial Assumptions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfActuarialAssumptionsExplanatory" xlink:to="fmx_DisclosureOfActuarialAssumptionsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2941656_3_1" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Abstract of allocation of amortisation expenses.</label>
    <label id="id_13222622_2941656_1_1" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Allocation Of Amortisation Expenses [Abstract]</label>
    <label id="id_13222622_2941656_2_1" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Allocation of Amortisation Expenses [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract" xlink:to="fmx_DisclosureOfAllocationOfAmortisationExpensesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfAllocationOfAmortisationExpensesExplanatory" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014652_3_1" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of allocation of amortisation expenses.</label>
    <label id="id_13222622_3014652_1_1" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Allocation Of Amortisation Expenses [Text Block]</label>
    <label id="id_13222622_3014652_2_1" xlink:label="fmx_DisclosureOfAllocationOfAmortisationExpensesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Allocation of Amortization Expenses</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory" xlink:label="fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3016531_3_1" xlink:label="fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of changes in balance of defined benefit obligation for post-employment explanatory.</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory" xlink:label="fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory" xlink:type="locator"/>
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    <label id="id_13222622_3014714_2_1" xlink:label="fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Exchange Rates of Local Currencies Translated to Mexican Pesos</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfChangesInInventoriesExplanatory" xlink:label="fmx_DisclosureOfChangesInInventoriesExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014666_3_1" xlink:label="fmx_DisclosureOfChangesInInventoriesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of changes in inventories.</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfChangesInNonControllingInterestExplanatory" xlink:label="fmx_DisclosureOfChangesInNonControllingInterestExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014033_3_1" xlink:label="fmx_DisclosureOfChangesInNonControllingInterestExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of changes in non controlling interest.</label>
    <label id="id_13222622_3014033_1_1" xlink:label="fmx_DisclosureOfChangesInNonControllingInterestExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Changes In Non Controlling Interest [text block]</label>
    <label id="id_13222622_3014033_2_1" xlink:label="fmx_DisclosureOfChangesInNonControllingInterestExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Changes in the FEMSA's Non-Controlling Interest</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory" xlink:label="fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014618_3_1" xlink:label="fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of changes in tax loss carry forwards.</label>
    <label id="id_13222622_3014618_1_1" xlink:label="fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Changes In Tax Loss Carry-forwards [Text Block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:type="locator"/>
    <label id="id_13222622_2936544_1_1" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [abstract]</label>
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    <label id="id_13222622_2937033_1_1" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [line items]</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory" xlink:label="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory" xlink:type="locator"/>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory" xlink:label="fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014012_3_1" xlink:label="fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of components of income tax expense.</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfCrossCurrencySwapContractExplanatory" xlink:label="fmx_DisclosureOfCrossCurrencySwapContractExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="locator"/>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory" xlink:label="fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory" xlink:type="locator"/>
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    <label id="id_13222622_2979533_1_1" xlink:label="fmx_DisclosureOfHyperinflationaryReportingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Hyperinflationary Reporting [Table]</label>
    <label id="id_13222622_2979533_2_1" xlink:label="fmx_DisclosureOfHyperinflationaryReportingTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Hyperinflationary Reporting [Table]</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory" xlink:label="fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3019431_3_1" xlink:label="fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of income statement of significant associate explanatory.</label>
    <label id="id_13222622_3019431_1_1" xlink:label="fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Income Statement of Significant Associate [Text Block]</label>
    <label id="id_13222622_3019431_2_1" xlink:label="fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Selected Income Statement for Period from Acquisition Date</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfIncomeTaxesLineItems" xlink:label="fmx_DisclosureOfIncomeTaxesLineItems" xlink:type="locator"/>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfTaxLossCarryforwardsExplanatory" xlink:label="fmx_DisclosureOfTaxLossCarryforwardsExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2935887_1_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [text block]</label>
    <label id="id_13222622_2935887_2_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Number of Shares Held by the Trust</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:type="locator"/>
    <label id="id_13222622_2937333_1_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [line items]</label>
    <label id="id_13222622_2937333_2_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:type="locator"/>
    <label id="id_13222622_2935888_1_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [table]</label>
    <label id="id_13222622_2935888_2_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of terms and conditions of share-based payment arrangement [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2936863_1_1" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of trade and other receivables [text block]</label>
    <label id="id_13222622_2936863_2_1" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts Receivable, Net</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2937335_1_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [abstract]</label>
    <label id="id_13222622_2937335_2_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2937162_1_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [text block]</label>
    <label id="id_13222622_2937162_2_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Transaction with Related Parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:type="locator"/>
    <label id="id_13222622_2937163_1_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [line items]</label>
    <label id="id_13222622_2937163_2_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:type="locator"/>
    <label id="id_13222622_2937336_1_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [table]</label>
    <label id="id_13222622_2937336_2_1" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of transactions between related parties [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:to="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfTrustAssetExplanatory" xlink:label="fmx_DisclosureOfTrustAssetExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3018807_3_1" xlink:label="fmx_DisclosureOfTrustAssetExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of trust asset explanatory.</label>
    <label id="id_13222622_3018807_1_1" xlink:label="fmx_DisclosureOfTrustAssetExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Trust Asset Explanatory</label>
    <label id="id_13222622_3018807_2_1" xlink:label="fmx_DisclosureOfTrustAssetExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Trust Assets</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory" xlink:label="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014719_3_1" xlink:label="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of unaudited pro forma financial data.</label>
    <label id="id_13222622_3014719_1_1" xlink:label="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Unaudited Pro Forma Financial Data [text block]</label>
    <label id="id_13222622_3014719_2_1" xlink:label="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Unaudited Pro Forma Financial Information</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DiscountRateMinusZeroPointFivePercentMember" xlink:label="fmx_DiscountRateMinusZeroPointFivePercentMember" xlink:type="locator"/>
    <label id="id_13222622_2986997_3_1" xlink:label="fmx_DiscountRateMinusZeroPointFivePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discount Rates-0.5%.</label>
    <label id="id_13222622_2986997_1_1" xlink:label="fmx_DiscountRateMinusZeroPointFivePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount Rate Minus Zero Point Five Percent [Member]</label>
    <label id="id_13222622_2986997_2_1" xlink:label="fmx_DiscountRateMinusZeroPointFivePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount Rate -0.5% [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DiscountRateMinusZeroPointFivePercentMember" xlink:to="fmx_DiscountRateMinusZeroPointFivePercentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DiscountRatePlusZeroPointFivePercentMember" xlink:label="fmx_DiscountRatePlusZeroPointFivePercentMember" xlink:type="locator"/>
    <label id="id_13222622_2986996_3_1" xlink:label="fmx_DiscountRatePlusZeroPointFivePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discount Rates+0.5%.</label>
    <label id="id_13222622_2986996_1_1" xlink:label="fmx_DiscountRatePlusZeroPointFivePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount Rate Plus Zero Point Five Percent [Member]</label>
    <label id="id_13222622_2986996_2_1" xlink:label="fmx_DiscountRatePlusZeroPointFivePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate +0.5% [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DiscountRatePlusZeroPointFivePercentMember" xlink:to="fmx_DiscountRatePlusZeroPointFivePercentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DispensadorasDeCafeSAPIDeCVMember" xlink:label="fmx_DispensadorasDeCafeSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2983295_3_1" xlink:label="fmx_DispensadorasDeCafeSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dispensadoras de Cafe, S.A.P.I. de C.V.</label>
    <label id="id_13222622_2983295_1_1" xlink:label="fmx_DispensadorasDeCafeSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dispensadoras de Cafe, S.A.P.I. de C.V. [Member]</label>
    <label id="id_13222622_2983295_2_1" xlink:label="fmx_DispensadorasDeCafeSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dispensadoras de Cafe, S.A.P.I. de C.V. [member]</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_DisposalOfLongLivedAssets" xlink:label="fmx_DisposalOfLongLivedAssets" xlink:type="locator"/>
    <label id="id_13222622_2950774_3_1" xlink:label="fmx_DisposalOfLongLivedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disposal of long lived assets.</label>
    <label id="id_13222622_2950774_1_1" xlink:label="fmx_DisposalOfLongLivedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposal Of Long Lived Assets</label>
    <label id="id_13222622_2950774_2_1" xlink:label="fmx_DisposalOfLongLivedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal of long-lived assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisposalOfLongLivedAssets" xlink:to="fmx_DisposalOfLongLivedAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2936873_1_1" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposals, intangible assets and goodwill</label>
    <label id="id_13222622_2936873_14_1" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Disposals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_DisposalsIntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2937172_1_1" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disposals, property, plant and equipment</label>
    <label id="id_13222622_2937172_14_1" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Disposals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:to="ifrs-full_DisposalsPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DistributionCosts" xlink:label="ifrs-full_DistributionCosts" xlink:type="locator"/>
    <label id="id_13222622_2936875_1_1" xlink:label="ifrs-full_DistributionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution costs</label>
    <label id="id_13222622_2936875_2_1" xlink:label="ifrs-full_DistributionCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DistributionCosts" xlink:to="ifrs-full_DistributionCosts_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DistributionEquipmentMember" xlink:label="fmx_DistributionEquipmentMember" xlink:type="locator"/>
    <label id="id_13222622_2984296_3_1" xlink:label="fmx_DistributionEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution Equipment [member]</label>
    <label id="id_13222622_2984296_1_1" xlink:label="fmx_DistributionEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Equipment [member]</label>
    <label id="id_13222622_2984296_2_1" xlink:label="fmx_DistributionEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DistributionEquipmentMember" xlink:to="fmx_DistributionEquipmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DistributionRights1Member" xlink:label="fmx_DistributionRights1Member" xlink:type="locator"/>
    <label id="id_13222622_2995027_3_1" xlink:label="fmx_DistributionRights1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Distribution rights.</label>
    <label id="id_13222622_2995027_1_1" xlink:label="fmx_DistributionRights1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Distribution Rights 1 [Member]</label>
    <label id="id_13222622_2995027_2_1" xlink:label="fmx_DistributionRights1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution rights [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DistributionRights1Member" xlink:to="fmx_DistributionRights1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendAnnouncementMember" xlink:label="fmx_DividendAnnouncementMember" xlink:type="locator"/>
    <label id="id_13222622_3042322_3_1" xlink:label="fmx_DividendAnnouncementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend announcement.</label>
    <label id="id_13222622_3042322_1_1" xlink:label="fmx_DividendAnnouncementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend announcement [Member]</label>
    <label id="id_13222622_3042322_2_1" xlink:label="fmx_DividendAnnouncementMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend announcement [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendAnnouncementMember" xlink:to="fmx_DividendAnnouncementMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendDeclaredAndPaid" xlink:label="fmx_DividendDeclaredAndPaid" xlink:type="locator"/>
    <label id="id_13222622_2963477_3_1" xlink:label="fmx_DividendDeclaredAndPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend declared and paid.</label>
    <label id="id_13222622_2963477_1_1" xlink:label="fmx_DividendDeclaredAndPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Declared And Paid</label>
    <label id="id_13222622_2963477_2_1" xlink:label="fmx_DividendDeclaredAndPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend declared and paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendDeclaredAndPaid" xlink:to="fmx_DividendDeclaredAndPaid_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendDeclaredAndPaidPerShare" xlink:label="fmx_DividendDeclaredAndPaidPerShare" xlink:type="locator"/>
    <label id="id_13222622_3019827_3_1" xlink:label="fmx_DividendDeclaredAndPaidPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Declared And Paid Per Share.</label>
    <label id="id_13222622_3019827_1_1" xlink:label="fmx_DividendDeclaredAndPaidPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Declared And Paid Per Share</label>
    <label id="id_13222622_3019827_2_1" xlink:label="fmx_DividendDeclaredAndPaidPerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend declared and paid per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendDeclaredAndPaidPerShare" xlink:to="fmx_DividendDeclaredAndPaidPerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendInstallmentPeriod" xlink:label="fmx_DividendInstallmentPeriod" xlink:type="locator"/>
    <label id="id_13222622_3057583_3_1" xlink:label="fmx_DividendInstallmentPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Installment Period.</label>
    <label id="id_13222622_3057583_1_1" xlink:label="fmx_DividendInstallmentPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Installment Period</label>
    <label id="id_13222622_3057583_2_1" xlink:label="fmx_DividendInstallmentPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend installment period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendInstallmentPeriod" xlink:to="fmx_DividendInstallmentPeriod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendPayables" xlink:label="ifrs-full_DividendPayables" xlink:type="locator"/>
    <label id="id_13222622_2936573_1_1" xlink:label="ifrs-full_DividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend payables</label>
    <label id="id_13222622_2936573_2_1" xlink:label="ifrs-full_DividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ordinary dividend payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendPayables" xlink:to="ifrs-full_DividendPayables_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendPaymentMethodAxis" xlink:label="fmx_DividendPaymentMethodAxis" xlink:type="locator"/>
    <label id="id_13222622_2980436_3_1" xlink:label="fmx_DividendPaymentMethodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Payment Method [Axis]</label>
    <label id="id_13222622_2980436_1_1" xlink:label="fmx_DividendPaymentMethodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Payment Method [Axis]</label>
    <label id="id_13222622_2980436_2_1" xlink:label="fmx_DividendPaymentMethodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend Payment Method [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendPaymentMethodAxis" xlink:to="fmx_DividendPaymentMethodAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendPaymentMethodDomain" xlink:label="fmx_DividendPaymentMethodDomain" xlink:type="locator"/>
    <label id="id_13222622_2998462_3_1" xlink:label="fmx_DividendPaymentMethodDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Payment Method [Domain]</label>
    <label id="id_13222622_2998462_1_1" xlink:label="fmx_DividendPaymentMethodDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Payment Method [Domain]</label>
    <label id="id_13222622_2998462_2_1" xlink:label="fmx_DividendPaymentMethodDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend Payment Method [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendPaymentMethodDomain" xlink:to="fmx_DividendPaymentMethodDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendRate" xlink:label="fmx_DividendRate" xlink:type="locator"/>
    <label id="id_13222622_3022415_3_1" xlink:label="fmx_DividendRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividend Rate</label>
    <label id="id_13222622_3022415_1_1" xlink:label="fmx_DividendRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividend Rate</label>
    <label id="id_13222622_3022415_2_1" xlink:label="fmx_DividendRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New tax on dividends paid to non-resident stockholders and resident individuals</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendRate" xlink:to="fmx_DividendRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DividendsApprovedDate" xlink:label="fmx_DividendsApprovedDate" xlink:type="locator"/>
    <label id="id_13222622_2976401_3_1" xlink:label="fmx_DividendsApprovedDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Dividends approved date.</label>
    <label id="id_13222622_2976401_1_1" xlink:label="fmx_DividendsApprovedDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends approved date</label>
    <label id="id_13222622_2976401_2_1" xlink:label="fmx_DividendsApprovedDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends approved date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DividendsApprovedDate" xlink:to="fmx_DividendsApprovedDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid" xlink:type="locator"/>
    <label id="id_13222622_2937173_1_1" xlink:label="ifrs-full_DividendsPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends recognised as distributions to owners</label>
    <label id="id_13222622_2937173_2_1" xlink:label="ifrs-full_DividendsPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend paid</label>
    <label id="id_13222622_2937173_14_1" xlink:label="ifrs-full_DividendsPaid_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends declared and paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaid" xlink:to="ifrs-full_DividendsPaid_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2937343_1_1" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends paid to equity holders of parent, classified as financing activities</label>
    <label id="id_13222622_2937343_14_1" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Dividends paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:to="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2937175_1_1" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends paid to non-controlling interests</label>
    <label id="id_13222622_2937175_2_1" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:to="ifrs-full_DividendsPaidToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsReceived" xlink:label="ifrs-full_DividendsReceived" xlink:type="locator"/>
    <label id="id_13222622_2937345_1_1" xlink:label="ifrs-full_DividendsReceived_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends received</label>
    <label id="id_13222622_2937345_2_1" xlink:label="ifrs-full_DividendsReceived_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends received</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsReceived" xlink:to="ifrs-full_DividendsReceived_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DividendsReceivedClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2936576_1_1" xlink:label="ifrs-full_DividendsReceivedClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Dividends received, classified as investing activities</label>
    <label id="id_13222622_2936576_2_1" xlink:label="ifrs-full_DividendsReceivedClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividends received from associates and joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DividendsReceivedClassifiedAsInvestingActivities" xlink:to="ifrs-full_DividendsReceivedClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DocumentandEntityInformationAbstract" xlink:label="fmx_DocumentandEntityInformationAbstract" xlink:type="locator"/>
    <label id="id_13222622_3060222_3_1" xlink:label="fmx_DocumentandEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Document - Document and Entity Information [Abstract]</label>
    <label id="id_13222622_3060222_1_1" xlink:label="fmx_DocumentandEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document - Document and Entity Information [Abstract]</label>
    <label id="id_13222622_3060222_2_1" xlink:label="fmx_DocumentandEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document - Document and Entity Information [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DocumentandEntityInformationAbstract" xlink:to="fmx_DocumentandEntityInformationAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <label id="id_13222622_2934211_1_1" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</label>
    <label id="id_13222622_2934211_2_1" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Period Focus</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <label id="id_13222622_2934502_1_1" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</label>
    <label id="id_13222622_2934502_2_1" xlink:label="dei_DocumentFiscalYearFocus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <label id="id_13222622_2933254_1_1" xlink:label="dei_DocumentInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</label>
    <label id="id_13222622_2933254_2_1" xlink:label="dei_DocumentInformationLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentInformationLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <label id="id_13222622_2934212_1_1" xlink:label="dei_DocumentInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Information [Table]</label>
    <label id="id_13222622_2934212_2_1" xlink:label="dei_DocumentInformationTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Information [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentInformationTable" xlink:to="dei_DocumentInformationTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <label id="id_13222622_2934744_1_1" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Period End Date</label>
    <label id="id_13222622_2934744_2_1" xlink:label="dei_DocumentPeriodEndDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <label id="id_13222622_2934504_1_1" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document Type</label>
    <label id="id_13222622_2934504_2_1" xlink:label="dei_DocumentType_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Document Type</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_DonationsAndSubsidiesExpense" xlink:label="ifrs-full_DonationsAndSubsidiesExpense" xlink:type="locator"/>
    <label id="id_13222622_2937347_1_1" xlink:label="ifrs-full_DonationsAndSubsidiesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Donations and subsidies expense</label>
    <label id="id_13222622_2937347_2_1" xlink:label="ifrs-full_DonationsAndSubsidiesExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Donations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DonationsAndSubsidiesExpense" xlink:to="ifrs-full_DonationsAndSubsidiesExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_DonationsToRelatedPartyTransactions" xlink:label="fmx_DonationsToRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2949237_3_1" xlink:label="fmx_DonationsToRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Donations to related party transactions.</label>
    <label id="id_13222622_2949237_1_1" xlink:label="fmx_DonationsToRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Donations To Related Party Transactions</label>
    <label id="id_13222622_2949237_2_1" xlink:label="fmx_DonationsToRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Donations to related party transactions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DonationsToRelatedPartyTransactions" xlink:to="fmx_DonationsToRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_E1PuertoDeLiverpoolSABDeCVMember" xlink:label="fmx_E1PuertoDeLiverpoolSABDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984110_3_1" xlink:label="fmx_E1PuertoDeLiverpoolSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">El Puerto de Liverpool, S.A.B. de C.V.</label>
    <label id="id_13222622_2984110_1_1" xlink:label="fmx_E1PuertoDeLiverpoolSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">El Puerto de Liverpool, S.A.B. de C.V. [Member]</label>
    <label id="id_13222622_2984110_2_1" xlink:label="fmx_E1PuertoDeLiverpoolSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">El Puerto de Liverpool, S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_E1PuertoDeLiverpoolSABDeCVMember" xlink:to="fmx_E1PuertoDeLiverpoolSABDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract" xlink:type="locator"/>
    <label id="id_13222622_2937182_1_1" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [abstract]</label>
    <label id="id_13222622_2937182_2_1" xlink:label="ifrs-full_EarningsPerShareAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareAbstract" xlink:to="ifrs-full_EarningsPerShareAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EarningsPerShareExplanatory" xlink:label="ifrs-full_EarningsPerShareExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2936883_1_1" xlink:label="ifrs-full_EarningsPerShareExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [text block]</label>
    <label id="id_13222622_2936883_2_1" xlink:label="ifrs-full_EarningsPerShareExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Calculation of Basic and Dilued Earnings Per Share Amounts</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareExplanatory" xlink:to="ifrs-full_EarningsPerShareExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="ifrs-full_EarningsPerShareLineItems" xlink:type="locator"/>
    <label id="id_13222622_2937348_1_1" xlink:label="ifrs-full_EarningsPerShareLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [line items]</label>
    <label id="id_13222622_2937348_2_1" xlink:label="ifrs-full_EarningsPerShareLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareLineItems" xlink:to="ifrs-full_EarningsPerShareLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EarningsPerShareTable" xlink:label="ifrs-full_EarningsPerShareTable" xlink:type="locator"/>
    <label id="id_13222622_2937183_1_1" xlink:label="ifrs-full_EarningsPerShareTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Earnings per share [table]</label>
    <label id="id_13222622_2937183_2_1" xlink:label="ifrs-full_EarningsPerShareTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Earnings per share [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EarningsPerShareTable" xlink:to="ifrs-full_EarningsPerShareTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_EC" xlink:label="country_EC" xlink:type="locator"/>
    <label id="id_13222622_2933447_1_1" xlink:label="country_EC_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ECUADOR</label>
    <label id="id_13222622_2933447_2_1" xlink:label="country_EC_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ecuador [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_EC" xlink:to="country_EC_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EffectOfAcquisitionMember" xlink:label="fmx_EffectOfAcquisitionMember" xlink:type="locator"/>
    <label id="id_13222622_2995971_3_1" xlink:label="fmx_EffectOfAcquisitionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Effect of Acquisition [Member]</label>
    <label id="id_13222622_2995971_1_1" xlink:label="fmx_EffectOfAcquisitionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of Acquisition [Member]</label>
    <label id="id_13222622_2995971_2_1" xlink:label="fmx_EffectOfAcquisitionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of acquisition [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EffectOfAcquisitionMember" xlink:to="fmx_EffectOfAcquisitionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EffectOfCumulativeInflationPercentageRecognised" xlink:label="fmx_EffectOfCumulativeInflationPercentageRecognised" xlink:type="locator"/>
    <label id="id_13222622_3020617_3_1" xlink:label="fmx_EffectOfCumulativeInflationPercentageRecognised_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Effect of cumulative inflation percentage recognised.</label>
    <label id="id_13222622_3020617_1_1" xlink:label="fmx_EffectOfCumulativeInflationPercentageRecognised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect Of Cumulative Inflation Percentage Recognised</label>
    <label id="id_13222622_3020617_2_1" xlink:label="fmx_EffectOfCumulativeInflationPercentageRecognised_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative inflation percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EffectOfCumulativeInflationPercentageRecognised" xlink:to="fmx_EffectOfCumulativeInflationPercentageRecognised_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EffectOfCumulativeInflationRecognitionPeriod" xlink:label="fmx_EffectOfCumulativeInflationRecognitionPeriod" xlink:type="locator"/>
    <label id="id_13222622_2974957_3_1" xlink:label="fmx_EffectOfCumulativeInflationRecognitionPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Effect of cumulative inflation recognition period.</label>
    <label id="id_13222622_2974957_1_1" xlink:label="fmx_EffectOfCumulativeInflationRecognitionPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect Of Cumulative Inflation Recognition Period</label>
    <label id="id_13222622_2974957_2_1" xlink:label="fmx_EffectOfCumulativeInflationRecognitionPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cumulative inflation period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EffectOfCumulativeInflationRecognitionPeriod" xlink:to="fmx_EffectOfCumulativeInflationRecognitionPeriod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="locator"/>
    <label id="id_13222622_2937187_1_1" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect of exchange rate changes on cash and cash equivalents</label>
    <label id="id_13222622_2937187_2_1" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of exchange rate changes and inflation effects on cash and cash equivalents held in foreign currencies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:to="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EffectOnValuation" xlink:label="fmx_EffectOnValuation" xlink:type="locator"/>
    <label id="id_13222622_2974942_3_1" xlink:label="fmx_EffectOnValuation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Effect on valuation.</label>
    <label id="id_13222622_2974942_1_1" xlink:label="fmx_EffectOnValuation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effect on Valuation</label>
    <label id="id_13222622_2974942_2_1" xlink:label="fmx_EffectOnValuation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Valuation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EffectOnValuation" xlink:to="fmx_EffectOnValuation_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation" xlink:label="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation" xlink:type="locator"/>
    <label id="id_13222622_2954430_3_1" xlink:label="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Effects of fair value determined by purchase price allocation.</label>
    <label id="id_13222622_2954430_1_1" xlink:label="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Effects Of Fair Value Determined by Purchase Price Allocation</label>
    <label id="id_13222622_2954430_2_1" xlink:label="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of fair value determined by Purchase Price Allocation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation" xlink:to="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember" xlink:label="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember" xlink:type="locator"/>
    <label id="id_13222622_2984614_3_1" xlink:label="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Eight Point Two Seven Percentage Debt Bonds Maturing On Two Thousand Twenty One [Member]</label>
    <label id="id_13222622_2984614_1_1" xlink:label="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Eight Point Two Seven Percentage Debt Bonds Maturing On Two Thousand Twenty One [Member]</label>
    <label id="id_13222622_2984614_2_1" xlink:label="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">8.27% Debt Bonds Maturing on 2021 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember" xlink:to="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities" xlink:label="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities" xlink:type="locator"/>
    <label id="id_13222622_2954507_3_1" xlink:label="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee benefit paid classified as operating activities.</label>
    <label id="id_13222622_2954507_1_1" xlink:label="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Benefit Paid Classified As Operating Activities</label>
    <label id="id_13222622_2954507_14_1" xlink:label="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Employee benefits paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities" xlink:to="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" xlink:type="locator"/>
    <label id="id_13222622_2936587_1_1" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee benefits expense</label>
    <label id="id_13222622_2936587_6_1" xlink:label="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Employee benefits expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EmployeeBenefitsExpense" xlink:to="ifrs-full_EmployeeBenefitsExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EmployeeProfitSharing" xlink:label="fmx_EmployeeProfitSharing" xlink:type="locator"/>
    <label id="id_13222622_2949453_3_1" xlink:label="fmx_EmployeeProfitSharing_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee profit sharing.</label>
    <label id="id_13222622_2949453_1_1" xlink:label="fmx_EmployeeProfitSharing_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee profit sharing</label>
    <label id="id_13222622_2949453_2_1" xlink:label="fmx_EmployeeProfitSharing_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee profit sharing</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EmployeeProfitSharing" xlink:to="fmx_EmployeeProfitSharing_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EmployeeProfitSharingPayableMember" xlink:label="fmx_EmployeeProfitSharingPayableMember" xlink:type="locator"/>
    <label id="id_13222622_2998556_3_1" xlink:label="fmx_EmployeeProfitSharingPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Employee profit sharing payable.</label>
    <label id="id_13222622_2998556_1_1" xlink:label="fmx_EmployeeProfitSharingPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Employee Profit Sharing Payable [Member]</label>
    <label id="id_13222622_2998556_2_1" xlink:label="fmx_EmployeeProfitSharingPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee profit sharing payable [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EmployeeProfitSharingPayableMember" xlink:to="fmx_EmployeeProfitSharingPayableMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <label id="id_13222622_2933911_1_1" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</label>
    <label id="id_13222622_2933911_2_1" xlink:label="dei_EntityCentralIndexKey_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <label id="id_13222622_2934510_1_1" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <label id="id_13222622_2934510_2_1" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <label id="id_13222622_2934752_1_1" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</label>
    <label id="id_13222622_2934752_2_1" xlink:label="dei_EntityCurrentReportingStatus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Current Reporting Status</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <label id="id_13222622_2934222_1_1" xlink:label="dei_EntityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity [Domain]</label>
    <label id="id_13222622_2934222_2_1" xlink:label="dei_EntityDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityDomain" xlink:to="dei_EntityDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <label id="id_13222622_2933912_1_1" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Filer Category</label>
    <label id="id_13222622_2933912_2_1" xlink:label="dei_EntityFilerCategory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityListingsExchangeAxis" xlink:label="dei_EntityListingsExchangeAxis" xlink:type="locator"/>
    <label id="id_13222622_2934227_1_1" xlink:label="dei_EntityListingsExchangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Listings, Exchange [Axis]</label>
    <label id="id_13222622_2934227_2_1" xlink:label="dei_EntityListingsExchangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Listings, Exchange [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityListingsExchangeAxis" xlink:to="dei_EntityListingsExchangeAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <label id="id_13222622_2934518_1_1" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</label>
    <label id="id_13222622_2934518_2_1" xlink:label="dei_EntityRegistrantName_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <label id="id_13222622_2937354_1_1" xlink:label="ifrs-full_EntitysTotalForAssociatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for associates [member]</label>
    <label id="id_13222622_2937354_2_1" xlink:label="ifrs-full_EntitysTotalForAssociatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for associates [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForAssociatesMember" xlink:to="ifrs-full_EntitysTotalForAssociatesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <label id="id_13222622_2937355_1_1" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for business combinations [member]</label>
    <label id="id_13222622_2937355_2_1" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for business combinations [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:to="ifrs-full_EntitysTotalForBusinessCombinationsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2936888_1_1" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for cash-generating units [member]</label>
    <label id="id_13222622_2936888_2_1" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for cash-generating units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:to="ifrs-full_EntitysTotalForCashgeneratingUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2937356_1_1" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for impairment of financial assets [member]</label>
    <label id="id_13222622_2937356_2_1" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for impairment of financial assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:to="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:type="locator"/>
    <label id="id_13222622_2937191_1_1" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for individual assets or cash-generating units [member]</label>
    <label id="id_13222622_2937191_2_1" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for individual assets or cash-generating units [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:to="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <label id="id_13222622_2937357_1_1" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for joint ventures [member]</label>
    <label id="id_13222622_2937357_2_1" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for joint ventures [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForJointVenturesMember" xlink:to="ifrs-full_EntitysTotalForJointVenturesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <label id="id_13222622_2936590_1_1" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for related parties [member]</label>
    <label id="id_13222622_2936590_2_1" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for related parties [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:to="ifrs-full_EntitysTotalForRelatedPartiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <label id="id_13222622_2936892_1_1" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for segment consolidation items [member]</label>
    <label id="id_13222622_2936892_2_1" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for segment consolidation items [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:to="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <label id="id_13222622_2936893_1_1" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity's total for subsidiaries [member]</label>
    <label id="id_13222622_2936893_2_1" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity's total for subsidiaries [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:to="ifrs-full_EntitysTotalForSubsidiariesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <label id="id_13222622_2934520_1_1" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <label id="id_13222622_2934520_2_1" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <label id="id_13222622_2937193_1_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity</label>
    <label id="id_13222622_2937193_4_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending Balance</label>
    <label id="id_13222622_2937193_5_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning Balance</label>
    <label id="id_13222622_2937193_2_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net equity</label>
    <label id="id_13222622_2937193_6_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity</label>
    <label id="id_13222622_2937193_12_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Equity" xlink:to="ifrs-full_Equity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract" xlink:type="locator"/>
    <label id="id_13222622_2936592_1_1" xlink:label="ifrs-full_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [abstract]</label>
    <label id="id_13222622_2936592_2_1" xlink:label="ifrs-full_EquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAbstract" xlink:to="ifrs-full_EquityAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2936593_1_1" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and liabilities</label>
    <label id="id_13222622_2936593_6_1" xlink:label="ifrs-full_EquityAndLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total equity and liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilities" xlink:to="ifrs-full_EquityAndLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EquityAttributableToEquityShareHolders" xlink:label="fmx_EquityAttributableToEquityShareHolders" xlink:type="locator"/>
    <label id="id_13222622_2968811_3_1" xlink:label="fmx_EquityAttributableToEquityShareHolders_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity attributable to equity share holders.</label>
    <label id="id_13222622_2968811_1_1" xlink:label="fmx_EquityAttributableToEquityShareHolders_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Attributable to Equity Share Holders</label>
    <label id="id_13222622_2968811_2_1" xlink:label="fmx_EquityAttributableToEquityShareHolders_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity attributable to equity holders of Heineken</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EquityAttributableToEquityShareHolders" xlink:to="fmx_EquityAttributableToEquityShareHolders_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_13222622_2936894_1_1" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity attributable to owners of parent</label>
    <label id="id_13222622_2936894_2_1" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity attributable to equity holders</label>
    <label id="id_13222622_2936894_6_1" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Controlling interest or Equity attributable to equity holders of the Company</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParent" xlink:to="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="locator"/>
    <label id="id_13222622_2936594_1_1" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity attributable to owners of parent [member]</label>
    <label id="id_13222622_2936594_2_1" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total controlling interest [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:to="ifrs-full_EquityAttributableToOwnersOfParentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EquityInstruments" xlink:label="fmx_EquityInstruments" xlink:type="locator"/>
    <label id="id_13222622_2950892_3_1" xlink:label="fmx_EquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Equity instruments.</label>
    <label id="id_13222622_2950892_1_1" xlink:label="fmx_EquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity Instruments</label>
    <label id="id_13222622_2950892_14_1" xlink:label="fmx_EquityInstruments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Equity instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EquityInstruments" xlink:to="fmx_EquityInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityInterestsOfAcquirer" xlink:label="ifrs-full_EquityInterestsOfAcquirer" xlink:type="locator"/>
    <label id="id_13222622_2937359_1_1" xlink:label="ifrs-full_EquityInterestsOfAcquirer_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity interests of acquirer</label>
    <label id="id_13222622_2937359_2_1" xlink:label="ifrs-full_EquityInterestsOfAcquirer_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount recognized as embedded financial instrument</label>
    <label id="id_13222622_2937359_12_1" xlink:label="ifrs-full_EquityInterestsOfAcquirer_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity interests of acquirer</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInterestsOfAcquirer" xlink:to="ifrs-full_EquityInterestsOfAcquirer_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityInvestmentsMember" xlink:label="ifrs-full_EquityInvestmentsMember" xlink:type="locator"/>
    <label id="id_13222622_2937195_1_1" xlink:label="ifrs-full_EquityInvestmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity investments [member]</label>
    <label id="id_13222622_2937195_2_1" xlink:label="ifrs-full_EquityInvestmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity investments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityInvestmentsMember" xlink:to="ifrs-full_EquityInvestmentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember" xlink:type="locator"/>
    <label id="id_13222622_2937197_1_1" xlink:label="ifrs-full_EquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity [member]</label>
    <label id="id_13222622_2937197_2_1" xlink:label="ifrs-full_EquityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityMember" xlink:to="ifrs-full_EquityMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EstanciaHidromineralItabiritoLTDAMember" xlink:label="fmx_EstanciaHidromineralItabiritoLTDAMember" xlink:type="locator"/>
    <label id="id_13222622_2983292_3_1" xlink:label="fmx_EstanciaHidromineralItabiritoLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Estancia Hidromineral Itabirito, LTDA.</label>
    <label id="id_13222622_2983292_1_1" xlink:label="fmx_EstanciaHidromineralItabiritoLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estancia Hidromineral Itabirito, LTDA [Member]</label>
    <label id="id_13222622_2983292_2_1" xlink:label="fmx_EstanciaHidromineralItabiritoLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estancia Hidromineral Itabirito, LTDA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EstanciaHidromineralItabiritoLTDAMember" xlink:to="fmx_EstanciaHidromineralItabiritoLTDAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EstimatedFairValueOfBorrowingsAtInception" xlink:label="fmx_EstimatedFairValueOfBorrowingsAtInception" xlink:type="locator"/>
    <label id="id_13222622_2957339_3_1" xlink:label="fmx_EstimatedFairValueOfBorrowingsAtInception_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Estimated fair value of borrowings at inception.</label>
    <label id="id_13222622_2957339_1_1" xlink:label="fmx_EstimatedFairValueOfBorrowingsAtInception_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Estimated fair value of borrowings at inception</label>
    <label id="id_13222622_2957339_2_1" xlink:label="fmx_EstimatedFairValueOfBorrowingsAtInception_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated fair value of borrowings at inception of option</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EstimatedFairValueOfBorrowingsAtInception" xlink:to="fmx_EstimatedFairValueOfBorrowingsAtInception_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_EUR" xlink:label="currency_EUR" xlink:type="locator"/>
    <label id="id_13222622_2933218_1_1" xlink:label="currency_EUR_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Member Countries, Euro</label>
    <label id="id_13222622_2933218_2_1" xlink:label="currency_EUR_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Euro [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_EUR" xlink:to="currency_EUR_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EuroMember" xlink:label="fmx_EuroMember" xlink:type="locator"/>
    <label id="id_13222622_2995107_3_1" xlink:label="fmx_EuroMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Euro.</label>
    <label id="id_13222622_2995107_1_1" xlink:label="fmx_EuroMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro [member]</label>
    <label id="id_13222622_2995107_2_1" xlink:label="fmx_EuroMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Euro [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EuroMember" xlink:to="fmx_EuroMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_EuropeMember" xlink:label="us-gaap_EuropeMember" xlink:type="locator"/>
    <label id="id_13222622_2921595_1_1" xlink:label="us-gaap_EuropeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Europe [Member]</label>
    <label id="id_13222622_2921595_2_1" xlink:label="us-gaap_EuropeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Europe [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EuropeMember" xlink:to="us-gaap_EuropeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EuroZoneMember" xlink:label="fmx_EuroZoneMember" xlink:type="locator"/>
    <label id="id_13222622_3011190_3_1" xlink:label="fmx_EuroZoneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Euro zone.</label>
    <label id="id_13222622_3011190_1_1" xlink:label="fmx_EuroZoneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Euro Zone [Member]</label>
    <label id="id_13222622_3011190_2_1" xlink:label="fmx_EuroZoneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Euro Zone [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EuroZoneMember" xlink:to="fmx_EuroZoneMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_EventsAfterReportingPeriodMember" xlink:label="fmx_EventsAfterReportingPeriodMember" xlink:type="locator"/>
    <label id="id_13222622_2990039_3_1" xlink:label="fmx_EventsAfterReportingPeriodMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Events after reporting period.</label>
    <label id="id_13222622_2990039_1_1" xlink:label="fmx_EventsAfterReportingPeriodMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Events After Reporting Period [Member]</label>
    <label id="id_13222622_2990039_2_1" xlink:label="fmx_EventsAfterReportingPeriodMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Events after reporting period [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_EventsAfterReportingPeriodMember" xlink:to="fmx_EventsAfterReportingPeriodMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ExchangeDifferencesOnTranslationOfForeignOperations" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperations" xlink:type="locator"/>
    <label id="id_13222622_2949084_3_1" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations.</label>
    <label id="id_13222622_2949084_1_1" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange Differences On Translation Of Foreign Operations</label>
    <label id="id_13222622_2949084_2_1" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeDifferencesOnTranslationOfForeignOperations" xlink:to="fmx_ExchangeDifferencesOnTranslationOfForeignOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_ExchangeDomain" xlink:label="dei_ExchangeDomain" xlink:type="locator"/>
    <label id="id_13222622_2933926_1_1" xlink:label="dei_ExchangeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange [Domain]</label>
    <label id="id_13222622_2933926_2_1" xlink:label="dei_ExchangeDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ExchangeDomain" xlink:to="dei_ExchangeDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners" xlink:type="locator"/>
    <label id="id_13222622_3051189_3_1" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Excise tax rate on per liter for sweetened beverages using caloric and non-caloric sweeteners.</label>
    <label id="id_13222622_3051189_1_1" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Excise tax rate on per liter for sweetened beverages using caloric and non-caloric sweeteners</label>
    <label id="id_13222622_3051189_2_1" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Excise tax rate on per liter for sweetened beverages using caloric and non-caloric sweeteners</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners" xlink:to="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingCaloricAndNoncaloricSweeteners_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS" xlink:type="locator"/>
    <label id="id_13222622_3051190_3_1" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Excise tax rate on per liter for sweetened beverages using HFCS.</label>
    <label id="id_13222622_3051190_1_1" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Excise tax rate on per liter for sweetened beverages using HFCS</label>
    <label id="id_13222622_3051190_2_1" xlink:label="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Excise tax rate on per liter for sweetened beverages using HFCS</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS" xlink:to="fmx_ExciseTaxRateOnPerLiterForSweetenedBeveragesUsingHFCS_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ExpectedAnnualLongtermInflationPercentage" xlink:label="fmx_ExpectedAnnualLongtermInflationPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020761_3_1" xlink:label="fmx_ExpectedAnnualLongtermInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Expected annual long-term inflation percentage.</label>
    <label id="id_13222622_3020761_1_1" xlink:label="fmx_ExpectedAnnualLongtermInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected Annual Long-Term Inflation Percentage</label>
    <label id="id_13222622_3020761_2_1" xlink:label="fmx_ExpectedAnnualLongtermInflationPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected Annual Long- Term</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExpectedAnnualLongtermInflationPercentage" xlink:to="fmx_ExpectedAnnualLongtermInflationPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ExpectedVolumeGrowthRatesPercentage" xlink:label="fmx_ExpectedVolumeGrowthRatesPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020762_3_1" xlink:label="fmx_ExpectedVolumeGrowthRatesPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Expected volume growth rates percentage.</label>
    <label id="id_13222622_3020762_1_1" xlink:label="fmx_ExpectedVolumeGrowthRatesPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected Volume Growth Rates Percentage</label>
    <label id="id_13222622_3020762_2_1" xlink:label="fmx_ExpectedVolumeGrowthRatesPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected Volume Growth Rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExpectedVolumeGrowthRatesPercentage" xlink:to="fmx_ExpectedVolumeGrowthRatesPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:label="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2936609_1_1" xlink:label="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expense recognised during period for bad and doubtful debts for related party transaction</label>
    <label id="id_13222622_2936609_2_1" xlink:label="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expense resulting from the uncollectibility of balances due from related parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:to="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ExpensesFromRelatedPartyAbstract" xlink:label="fmx_ExpensesFromRelatedPartyAbstract" xlink:type="locator"/>
    <label id="id_13222622_2940263_3_1" xlink:label="fmx_ExpensesFromRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Expenses from related party [abstract]</label>
    <label id="id_13222622_2940263_1_1" xlink:label="fmx_ExpensesFromRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expenses from related party [abstract]</label>
    <label id="id_13222622_2940263_2_1" xlink:label="fmx_ExpensesFromRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expenses:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExpensesFromRelatedPartyAbstract" xlink:to="fmx_ExpensesFromRelatedPartyAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions" xlink:label="ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions" xlink:type="locator"/>
    <label id="id_13222622_2937399_1_1" xlink:label="ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Explanation of nature and amount of significant transactions</label>
    <label id="id_13222622_2937399_2_1" xlink:label="ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Description of significant influence</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions" xlink:to="ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory" xlink:label="ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory" xlink:type="locator"/>
    <label id="id_13222622_2937886_1_1" xlink:label="ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Explanation of risk management strategy related to hedge accounting [text block]</label>
    <label id="id_13222622_2937886_2_1" xlink:label="ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Sensitivity Analysis of Interest Rate Risks Management</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory" xlink:to="ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction" xlink:label="ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2936936_1_1" xlink:label="ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Explanation of terms and conditions of outstanding balances for related party transaction</label>
    <label id="id_13222622_2936936_2_1" xlink:label="ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Conditions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction" xlink:to="ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FairValueAdjustmentsAxis" xlink:label="fmx_FairValueAdjustmentsAxis" xlink:type="locator"/>
    <label id="id_13222622_2980344_3_1" xlink:label="fmx_FairValueAdjustmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value adjustments axis.</label>
    <label id="id_13222622_2980344_1_1" xlink:label="fmx_FairValueAdjustmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Adjustments [Axis]</label>
    <label id="id_13222622_2980344_2_1" xlink:label="fmx_FairValueAdjustmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Adjustments [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FairValueAdjustmentsAxis" xlink:to="fmx_FairValueAdjustmentsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FairValueAdjustmentsDomain" xlink:label="fmx_FairValueAdjustmentsDomain" xlink:type="locator"/>
    <label id="id_13222622_2982680_3_1" xlink:label="fmx_FairValueAdjustmentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair Value Adjustments [Domain]</label>
    <label id="id_13222622_2982680_1_1" xlink:label="fmx_FairValueAdjustmentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Adjustments [Domain]</label>
    <label id="id_13222622_2982680_2_1" xlink:label="fmx_FairValueAdjustmentsDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Adjustments [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FairValueAdjustmentsDomain" xlink:to="fmx_FairValueAdjustmentsDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FairValueMeasurementStrikePricePerShare" xlink:label="fmx_FairValueMeasurementStrikePricePerShare" xlink:type="locator"/>
    <label id="id_13222622_3019503_3_1" xlink:label="fmx_FairValueMeasurementStrikePricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value measurement strike price per share.</label>
    <label id="id_13222622_3019503_1_1" xlink:label="fmx_FairValueMeasurementStrikePricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Measurement Strike Price Per Share</label>
    <label id="id_13222622_3019503_2_1" xlink:label="fmx_FairValueMeasurementStrikePricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Strike price per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FairValueMeasurementStrikePricePerShare" xlink:to="fmx_FairValueMeasurementStrikePricePerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FairValueOfInvestmentInJointVentures" xlink:label="fmx_FairValueOfInvestmentInJointVentures" xlink:type="locator"/>
    <label id="id_13222622_2963913_3_1" xlink:label="fmx_FairValueOfInvestmentInJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fair value of investment in joint ventures.</label>
    <label id="id_13222622_2963913_1_1" xlink:label="fmx_FairValueOfInvestmentInJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair Value Of Investment In Joint Ventures</label>
    <label id="id_13222622_2963913_2_1" xlink:label="fmx_FairValueOfInvestmentInJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of investment in joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FairValueOfInvestmentInJointVentures" xlink:to="fmx_FairValueOfInvestmentInJointVentures_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:type="locator"/>
    <label id="id_13222622_2936948_1_1" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fair value of investments in associates for which there are quoted market prices</label>
    <label id="id_13222622_2936948_2_1" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of investments in accociates representing 20% of its outstanding shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:to="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FarmaciasAcunaMember" xlink:label="fmx_FarmaciasAcunaMember" xlink:type="locator"/>
    <label id="id_13222622_2990381_3_1" xlink:label="fmx_FarmaciasAcunaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Farmacias Acuna.</label>
    <label id="id_13222622_2990381_1_1" xlink:label="fmx_FarmaciasAcunaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Farmacias Acuna [Member]</label>
    <label id="id_13222622_2990381_2_1" xlink:label="fmx_FarmaciasAcunaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Farmacias Acuna [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FarmaciasAcunaMember" xlink:to="fmx_FarmaciasAcunaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FarmaciasFarmaconMember" xlink:label="fmx_FarmaciasFarmaconMember" xlink:type="locator"/>
    <label id="id_13222622_2990386_3_1" xlink:label="fmx_FarmaciasFarmaconMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Farmacias farmacon.</label>
    <label id="id_13222622_2990386_1_1" xlink:label="fmx_FarmaciasFarmaconMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Farmacias Farmacon [Member]</label>
    <label id="id_13222622_2990386_2_1" xlink:label="fmx_FarmaciasFarmaconMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Farmacias Farmacon [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FarmaciasFarmaconMember" xlink:to="fmx_FarmaciasFarmaconMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FarmaciasYzaMember" xlink:label="fmx_FarmaciasYzaMember" xlink:type="locator"/>
    <label id="id_13222622_2990214_3_1" xlink:label="fmx_FarmaciasYzaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Farmacias Yza.</label>
    <label id="id_13222622_2990214_1_1" xlink:label="fmx_FarmaciasYzaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Farmacias Yza [Member]</label>
    <label id="id_13222622_2990214_2_1" xlink:label="fmx_FarmaciasYzaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Farmacias Yza [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FarmaciasYzaMember" xlink:to="fmx_FarmaciasYzaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FederalGovernmentInstrumentsMember" xlink:label="fmx_FederalGovernmentInstrumentsMember" xlink:type="locator"/>
    <label id="id_13222622_2984556_3_1" xlink:label="fmx_FederalGovernmentInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal government instruments.</label>
    <label id="id_13222622_2984556_1_1" xlink:label="fmx_FederalGovernmentInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Government Instruments [member]</label>
    <label id="id_13222622_2984556_2_1" xlink:label="fmx_FederalGovernmentInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Federal government instruments of the respective countries [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FederalGovernmentInstrumentsMember" xlink:to="fmx_FederalGovernmentInstrumentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FederalTaxesMember" xlink:label="fmx_FederalTaxesMember" xlink:type="locator"/>
    <label id="id_13222622_2984149_3_1" xlink:label="fmx_FederalTaxesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Federal taxes.</label>
    <label id="id_13222622_2984149_1_1" xlink:label="fmx_FederalTaxesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Federal Taxes [member]</label>
    <label id="id_13222622_2984149_2_1" xlink:label="fmx_FederalTaxesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Federal taxes [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FederalTaxesMember" xlink:to="fmx_FederalTaxesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FEMSAComercioMember" xlink:label="fmx_FEMSAComercioMember" xlink:type="locator"/>
    <label id="id_13222622_2999517_3_1" xlink:label="fmx_FEMSAComercioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA Comercio.</label>
    <label id="id_13222622_2999517_1_1" xlink:label="fmx_FEMSAComercioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA Comercio [Member]</label>
    <label id="id_13222622_2999517_2_1" xlink:label="fmx_FEMSAComercioMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAComercioMember" xlink:to="fmx_FEMSAComercioMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FEMSAComercioRetailDivisionMember" xlink:label="fmx_FEMSAComercioRetailDivisionMember" xlink:type="locator"/>
    <label id="id_13222622_2987988_3_1" xlink:label="fmx_FEMSAComercioRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA comercio retail division.</label>
    <label id="id_13222622_2987988_1_1" xlink:label="fmx_FEMSAComercioRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Retail Division [Member]</label>
    <label id="id_13222622_2987988_2_1" xlink:label="fmx_FEMSAComercioRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Retail Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAComercioRetailDivisionMember" xlink:to="fmx_FEMSAComercioRetailDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FEMSAFuelRetailDivisionMember" xlink:label="fmx_FEMSAFuelRetailDivisionMember" xlink:type="locator"/>
    <label id="id_13222622_2987982_3_1" xlink:label="fmx_FEMSAFuelRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA fuel retail division.</label>
    <label id="id_13222622_2987982_1_1" xlink:label="fmx_FEMSAFuelRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA Fuel Retail Division [Member]</label>
    <label id="id_13222622_2987982_2_1" xlink:label="fmx_FEMSAFuelRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Fuel Retail Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAFuelRetailDivisionMember" xlink:to="fmx_FEMSAFuelRetailDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FEMSAHealthRetailDivisionMember" xlink:label="fmx_FEMSAHealthRetailDivisionMember" xlink:type="locator"/>
    <label id="id_13222622_2987980_3_1" xlink:label="fmx_FEMSAHealthRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA health retail division.</label>
    <label id="id_13222622_2987980_1_1" xlink:label="fmx_FEMSAHealthRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA Health Retail Division [Member]</label>
    <label id="id_13222622_2987980_2_1" xlink:label="fmx_FEMSAHealthRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Health Retail Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAHealthRetailDivisionMember" xlink:to="fmx_FEMSAHealthRetailDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FEMSAMember" xlink:label="fmx_FEMSAMember" xlink:type="locator"/>
    <label id="id_13222622_2983176_3_1" xlink:label="fmx_FEMSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA.</label>
    <label id="id_13222622_2983176_1_1" xlink:label="fmx_FEMSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA [Member]</label>
    <label id="id_13222622_2983176_2_1" xlink:label="fmx_FEMSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA UBD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAMember" xlink:to="fmx_FEMSAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinanceChargesForEmployeeBenefits" xlink:label="fmx_FinanceChargesForEmployeeBenefits" xlink:type="locator"/>
    <label id="id_13222622_2949329_3_1" xlink:label="fmx_FinanceChargesForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finance charges for employee benefits.</label>
    <label id="id_13222622_2949329_1_1" xlink:label="fmx_FinanceChargesForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Charges For Employee Benefits</label>
    <label id="id_13222622_2949329_2_1" xlink:label="fmx_FinanceChargesForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance charges for employee benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinanceChargesForEmployeeBenefits" xlink:to="fmx_FinanceChargesForEmployeeBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinanceLeasesMember" xlink:label="fmx_FinanceLeasesMember" xlink:type="locator"/>
    <label id="id_13222622_2981154_3_1" xlink:label="fmx_FinanceLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finance leases.</label>
    <label id="id_13222622_2981154_1_1" xlink:label="fmx_FinanceLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Leases [Member]</label>
    <label id="id_13222622_2981154_2_1" xlink:label="fmx_FinanceLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance leases [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinanceLeasesMember" xlink:to="fmx_FinanceLeasesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinanceOperatingCharges" xlink:label="fmx_FinanceOperatingCharges" xlink:type="locator"/>
    <label id="id_13222622_2957613_3_1" xlink:label="fmx_FinanceOperatingCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finance operating charges.</label>
    <label id="id_13222622_2957613_1_1" xlink:label="fmx_FinanceOperatingCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finance Operating Charges</label>
    <label id="id_13222622_2957613_2_1" xlink:label="fmx_FinanceOperatingCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance operating charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinanceOperatingCharges" xlink:to="fmx_FinanceOperatingCharges_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2936647_1_1" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets</label>
    <label id="id_13222622_2936647_2_1" xlink:label="ifrs-full_FinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable , past due but not impaired</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssets" xlink:to="ifrs-full_FinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsAtFairValue" xlink:label="ifrs-full_FinancialAssetsAtFairValue" xlink:type="locator"/>
    <label id="id_13222622_2936648_1_1" xlink:label="ifrs-full_FinancialAssetsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets, at fair value</label>
    <label id="id_13222622_2936648_2_1" xlink:label="ifrs-full_FinancialAssetsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Asset</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValue" xlink:to="ifrs-full_FinancialAssetsAtFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2937442_1_1" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets, class [member]</label>
    <label id="id_13222622_2937442_2_1" xlink:label="ifrs-full_FinancialAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets, class [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsMember" xlink:to="ifrs-full_FinancialAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:type="locator"/>
    <label id="id_13222622_2936657_1_1" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets past due but not impaired [member]</label>
    <label id="id_13222622_2936657_2_1" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial assets past due but not impaired [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:to="ifrs-full_FinancialAssetsPastDueButNotImpairedMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate" xlink:type="locator"/>
    <label id="id_13222622_3021748_3_1" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial instruments designated as hedging derivative interest payable rate.</label>
    <label id="id_13222622_3021748_1_1" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments Designated As Hedging Derivative Interest Payable Rate</label>
    <label id="id_13222622_3021748_2_1" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest pay rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate" xlink:to="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate" xlink:type="locator"/>
    <label id="id_13222622_3021749_3_1" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial instruments designated as hedging derivative interest receivable rate.</label>
    <label id="id_13222622_3021749_1_1" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial Instruments Designated As Hedging Derivative Interest Receivable Rate</label>
    <label id="id_13222622_3021749_2_1" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest receive rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate" xlink:to="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinancialInstrumentsOutOfMoneyStrikePrice" xlink:label="fmx_FinancialInstrumentsOutOfMoneyStrikePrice" xlink:type="locator"/>
    <label id="id_13222622_2957348_3_1" xlink:label="fmx_FinancialInstrumentsOutOfMoneyStrikePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial instruments out of money strike price.</label>
    <label id="id_13222622_2957348_1_1" xlink:label="fmx_FinancialInstrumentsOutOfMoneyStrikePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial instruments out of money strike price</label>
    <label id="id_13222622_2957348_2_1" xlink:label="fmx_FinancialInstrumentsOutOfMoneyStrikePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Out of the money, strike price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinancialInstrumentsOutOfMoneyStrikePrice" xlink:to="fmx_FinancialInstrumentsOutOfMoneyStrikePrice_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2936666_1_1" xlink:label="ifrs-full_FinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities</label>
    <label id="id_13222622_2936666_4_1" xlink:label="ifrs-full_FinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2936666_5_1" xlink:label="ifrs-full_FinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</label>
    <label id="id_13222622_2936666_2_1" xlink:label="ifrs-full_FinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying value</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilities" xlink:to="ifrs-full_FinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:type="locator"/>
    <label id="id_13222622_2938092_1_1" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, at fair value</label>
    <label id="id_13222622_2938092_2_1" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value</label>
    <label id="id_13222622_2938092_12_1" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Fair Value Liability</label>
    <label id="id_13222622_2938092_14_1" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Fair value Liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:to="ifrs-full_FinancialLiabilitiesAtFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="ifrs-full_FinancialLiabilitiesMember" xlink:type="locator"/>
    <label id="id_13222622_2936669_1_1" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, class [member]</label>
    <label id="id_13222622_2936669_2_1" xlink:label="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities, class [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesMember" xlink:to="ifrs-full_FinancialLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinancialLiabilitiesTypeMember" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember" xlink:type="locator"/>
    <label id="id_13222622_2936672_1_1" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial liabilities, type [member]</label>
    <label id="id_13222622_2936672_2_1" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial liabilities, type [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialLiabilitiesTypeMember" xlink:to="ifrs-full_FinancialLiabilitiesTypeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FinancingFromAcquisition" xlink:label="fmx_FinancingFromAcquisition" xlink:type="locator"/>
    <label id="id_13222622_3043782_3_1" xlink:label="fmx_FinancingFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financing from acquisition</label>
    <label id="id_13222622_3043782_1_1" xlink:label="fmx_FinancingFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financing from acquisition</label>
    <label id="id_13222622_3043782_2_1" xlink:label="fmx_FinancingFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financing from Vonpar's acquisition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinancingFromAcquisition" xlink:to="fmx_FinancingFromAcquisition_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <label id="id_13222622_2936673_1_1" xlink:label="ifrs-full_FinishedGoods_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current finished goods</label>
    <label id="id_13222622_2936673_2_1" xlink:label="ifrs-full_FinishedGoods_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finished products</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinishedGoods" xlink:to="ifrs-full_FinishedGoods_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FiniteUsefulLivedIntangibleAssetsMember" xlink:label="fmx_FiniteUsefulLivedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2998552_3_1" xlink:label="fmx_FiniteUsefulLivedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Finite useful lived intangible assets.</label>
    <label id="id_13222622_2998552_1_1" xlink:label="fmx_FiniteUsefulLivedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Finite Useful Lived Intangible Assets [Member]</label>
    <label id="id_13222622_2998552_2_1" xlink:label="fmx_FiniteUsefulLivedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finite useful lived intangible assets [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FiniteUsefulLivedIntangibleAssetsMember" xlink:to="fmx_FiniteUsefulLivedIntangibleAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember" xlink:label="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember" xlink:type="locator"/>
    <label id="id_13222622_2984623_3_1" xlink:label="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Five Point Four Six Percentage Debt Bonds Maturing On Two Thousand Twenty Three [Member]</label>
    <label id="id_13222622_2984623_1_1" xlink:label="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Five Point Four Six Percentage Debt Bonds Maturing On Two Thousand Twenty Three [Member]</label>
    <label id="id_13222622_2984623_2_1" xlink:label="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.46% Debt Bonds Maturing on 2023 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember" xlink:to="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember" xlink:label="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember" xlink:type="locator"/>
    <label id="id_13222622_2984579_3_1" xlink:label="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Five Point Two Five Percentage Senior Notes Maturing On November Twenty Six Two Thousand Forty Three [Member]</label>
    <label id="id_13222622_2984579_1_1" xlink:label="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Five Point Two Five Percentage Senior Notes Maturing On November Twenty Six Two Thousand Forty Three [Member]</label>
    <label id="id_13222622_2984579_2_1" xlink:label="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5.25% Senior Notes Maturing On November 26, 2045 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember" xlink:to="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FixedCapitalStockAmounts" xlink:label="fmx_FixedCapitalStockAmounts" xlink:type="locator"/>
    <label id="id_13222622_2950877_3_1" xlink:label="fmx_FixedCapitalStockAmounts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed capital stock amounts.</label>
    <label id="id_13222622_2950877_1_1" xlink:label="fmx_FixedCapitalStockAmounts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Capital Stock Amounts</label>
    <label id="id_13222622_2950877_2_1" xlink:label="fmx_FixedCapitalStockAmounts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed capital stock amounts</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FixedCapitalStockAmounts" xlink:to="fmx_FixedCapitalStockAmounts_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2936972_1_1" xlink:label="ifrs-full_FixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed interest rate [member]</label>
    <label id="id_13222622_2936972_2_1" xlink:label="ifrs-full_FixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed rate debt [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FixedInterestRateMember" xlink:to="ifrs-full_FixedInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FixedReturnAbstract" xlink:label="fmx_FixedReturnAbstract" xlink:type="locator"/>
    <label id="id_13222622_2940274_3_1" xlink:label="fmx_FixedReturnAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed return.</label>
    <label id="id_13222622_2940274_1_1" xlink:label="fmx_FixedReturnAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed Return [Abstract]</label>
    <label id="id_13222622_2940274_2_1" xlink:label="fmx_FixedReturnAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed return:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FixedReturnAbstract" xlink:to="fmx_FixedReturnAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FixedToFixedInterestRateMember" xlink:label="fmx_FixedToFixedInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992566_3_1" xlink:label="fmx_FixedToFixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed to fixed interest rate.</label>
    <label id="id_13222622_2992566_1_1" xlink:label="fmx_FixedToFixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed To Fixed Interest Rate [Member]</label>
    <label id="id_13222622_2992566_2_1" xlink:label="fmx_FixedToFixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed to fixed interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FixedToFixedInterestRateMember" xlink:to="fmx_FixedToFixedInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FixedToVariableInterestRateMember" xlink:label="fmx_FixedToVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992562_3_1" xlink:label="fmx_FixedToVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fixed to variable interest rate.</label>
    <label id="id_13222622_2992562_1_1" xlink:label="fmx_FixedToVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fixed To Variable Interest Rate [Member]</label>
    <label id="id_13222622_2992562_2_1" xlink:label="fmx_FixedToVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fixed to variable interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FixedToVariableInterestRateMember" xlink:to="fmx_FixedToVariableInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2937935_1_1" xlink:label="ifrs-full_FloatingInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Floating interest rate [member]</label>
    <label id="id_13222622_2937935_2_1" xlink:label="ifrs-full_FloatingInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable rate debt [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FloatingInterestRateMember" xlink:to="ifrs-full_FloatingInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForeignExchange4Member" xlink:label="fmx_ForeignExchange4Member" xlink:type="locator"/>
    <label id="id_13222622_2997743_3_1" xlink:label="fmx_ForeignExchange4Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange.</label>
    <label id="id_13222622_2997743_1_1" xlink:label="fmx_ForeignExchange4Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange4 [member]</label>
    <label id="id_13222622_2997743_2_1" xlink:label="fmx_ForeignExchange4Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForeignExchange4Member" xlink:to="fmx_ForeignExchange4Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForeignExchangeLiabilities" xlink:label="fmx_ForeignExchangeLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2949268_3_1" xlink:label="fmx_ForeignExchangeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange liabilities.</label>
    <label id="id_13222622_2949268_1_1" xlink:label="fmx_ForeignExchangeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Liabilities</label>
    <label id="id_13222622_2949268_2_1" xlink:label="fmx_ForeignExchangeLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities recorded using exchange rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForeignExchangeLiabilities" xlink:to="fmx_ForeignExchangeLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FormerShareholdersVonparMember" xlink:label="fmx_FormerShareholdersVonparMember" xlink:type="locator"/>
    <label id="id_13222622_3050776_3_1" xlink:label="fmx_FormerShareholdersVonparMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Former shareholders vonpar.</label>
    <label id="id_13222622_3050776_1_1" xlink:label="fmx_FormerShareholdersVonparMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Former Shareholders Vonpar [member]</label>
    <label id="id_13222622_3050776_2_1" xlink:label="fmx_FormerShareholdersVonparMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Former Shareholders Vonpar [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FormerShareholdersVonparMember" xlink:to="fmx_FormerShareholdersVonparMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986792_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase ARS currency against USD.</label>
    <label id="id_13222622_2986792_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Agreements To Purchase ARS Currency Against USD [Member]</label>
    <label id="id_13222622_2986792_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase ARS currency against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember" xlink:to="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2987075_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase BRL currency against USD.</label>
    <label id="id_13222622_2987075_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Agreements To Purchase BRL Currency Against USD [Member]</label>
    <label id="id_13222622_2987075_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase BRL currency against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember" xlink:to="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2987058_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase CLP currency against USD.</label>
    <label id="id_13222622_2987058_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Agreements To Purchase CLP Currency Against USD [member]</label>
    <label id="id_13222622_2987058_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase CLP currency against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember" xlink:to="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2987076_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase COP currency against USD.</label>
    <label id="id_13222622_2987076_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Agreements To Purchase COP Currency Against USD [member]</label>
    <label id="id_13222622_2987076_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase COP currency against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember" xlink:to="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember" xlink:type="locator"/>
    <label id="id_13222622_2987053_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase MXN currency against EUR.</label>
    <label id="id_13222622_2987053_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Agreements To Purchase MXN Currency Against EUR [Member]</label>
    <label id="id_13222622_2987053_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase MXN currency against EUR [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember" xlink:to="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2987078_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase MXN currency against USD.</label>
    <label id="id_13222622_2987078_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward Agreements To Purchase MXN Currency Against USD [member]</label>
    <label id="id_13222622_2987078_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase MXN currency against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember" xlink:to="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ForwardContractMember" xlink:label="ifrs-full_ForwardContractMember" xlink:type="locator"/>
    <label id="id_13222622_2937937_1_1" xlink:label="ifrs-full_ForwardContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward contract [member]</label>
    <label id="id_13222622_2937937_2_1" xlink:label="ifrs-full_ForwardContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase foreign currency [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ForwardContractMember" xlink:to="ifrs-full_ForwardContractMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FountainAguaMineralLTDAMember" xlink:label="fmx_FountainAguaMineralLTDAMember" xlink:type="locator"/>
    <label id="id_13222622_2983306_3_1" xlink:label="fmx_FountainAguaMineralLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fountain Agua Mineral, LTDA.</label>
    <label id="id_13222622_2983306_1_1" xlink:label="fmx_FountainAguaMineralLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fountain Agua Mineral, LTDA [Member]</label>
    <label id="id_13222622_2983306_2_1" xlink:label="fmx_FountainAguaMineralLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fountain Agua Mineral, LTDA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FountainAguaMineralLTDAMember" xlink:to="fmx_FountainAguaMineralLTDAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember" xlink:label="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember" xlink:type="locator"/>
    <label id="id_13222622_2984625_3_1" xlink:label="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Four Point Six Three Percentage Senior Notes Maturing On February Fifteen Two Thousand Twenty [Member]</label>
    <label id="id_13222622_2984625_1_1" xlink:label="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Four Point Six Three Percentage Senior Notes Maturing On February Fifteen Two Thousand Twenty [Member]</label>
    <label id="id_13222622_2984625_2_1" xlink:label="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4.63% Senior Notes Maturing on February Fifteen Two Thousand Twenty [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember" xlink:to="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FuelDivisionMember" xlink:label="fmx_FuelDivisionMember" xlink:type="locator"/>
    <label id="id_13222622_2990210_3_1" xlink:label="fmx_FuelDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fuel division.</label>
    <label id="id_13222622_2990210_1_1" xlink:label="fmx_FuelDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fuel Division [Member]</label>
    <label id="id_13222622_2990210_2_1" xlink:label="fmx_FuelDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fuel Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FuelDivisionMember" xlink:to="fmx_FuelDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_FundacionFemsaAcMember" xlink:label="fmx_FundacionFemsaAcMember" xlink:type="locator"/>
    <label id="id_13222622_2984619_3_1" xlink:label="fmx_FundacionFemsaAcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Fundacion Femsa AC.</label>
    <label id="id_13222622_2984619_1_1" xlink:label="fmx_FundacionFemsaAcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Fundacion Femsa AC [Member]</label>
    <label id="id_13222622_2984619_2_1" xlink:label="fmx_FundacionFemsaAcMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fundacion FEMSA, A.C. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FundacionFemsaAcMember" xlink:to="fmx_FundacionFemsaAcMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_FutureFinanceChargeOnFinanceLease" xlink:label="ifrs-full_FutureFinanceChargeOnFinanceLease" xlink:type="locator"/>
    <label id="id_13222622_2936975_1_1" xlink:label="ifrs-full_FutureFinanceChargeOnFinanceLease_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Future finance charge on finance lease</label>
    <label id="id_13222622_2936975_2_1" xlink:label="ifrs-full_FutureFinanceChargeOnFinanceLease_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less amount representing finance charges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FutureFinanceChargeOnFinanceLease" xlink:to="ifrs-full_FutureFinanceChargeOnFinanceLease_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2936981_1_1" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) on remeasurement, net defined benefit liability (asset)</label>
    <label id="id_13222622_2936981_14_1" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Remeasurements during the year, net of tax</label>
    <label id="id_13222622_2936981_18_1" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefit obligation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination" xlink:label="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination" xlink:type="locator"/>
    <label id="id_13222622_2936679_1_1" xlink:label="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) recognised as result of remeasuring to fair value equity interest in acquiree held by acquirer before business combination</label>
    <label id="id_13222622_2936679_14_1" xlink:label="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Loss as a result of remeasuring to fair value the equity interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination" xlink:to="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GainOnSaleOfShares" xlink:label="fmx_GainOnSaleOfShares" xlink:type="locator"/>
    <label id="id_13222622_2960039_3_1" xlink:label="fmx_GainOnSaleOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain on sale of shares.</label>
    <label id="id_13222622_2960039_1_1" xlink:label="fmx_GainOnSaleOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain on Sale of Shares</label>
    <label id="id_13222622_2960039_2_1" xlink:label="fmx_GainOnSaleOfShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GainOnSaleOfShares" xlink:to="fmx_GainOnSaleOfShares_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:label="ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:type="locator"/>
    <label id="id_13222622_2936985_1_1" xlink:label="ifrs-full_GainRecognisedInBargainPurchaseTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain recognised in bargain purchase transaction</label>
    <label id="id_13222622_2936985_2_1" xlink:label="ifrs-full_GainRecognisedInBargainPurchaseTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain is net of transaction related costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:to="ifrs-full_GainRecognisedInBargainPurchaseTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_3043780_3_1" xlink:label="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains (losses) arising from acquisitions, net defined benefit liability (asset).</label>
    <label id="id_13222622_3043780_1_1" xlink:label="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) arising from acquisitions, net defined benefit liability (asset)</label>
    <label id="id_13222622_3043780_14_1" xlink:label="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset" xlink:to="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2961789_3_1" xlink:label="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains losses arising from curtailments net defined benefit liability asset.</label>
    <label id="id_13222622_2961789_1_1" xlink:label="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains losses arising from curtailments net defined benefit liability asset</label>
    <label id="id_13222622_2961789_14_1" xlink:label="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Effect on curtailment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:to="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2936682_1_1" xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) arising from settlements, net defined benefit liability (asset)</label>
    <label id="id_13222622_2936682_14_1" xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Settlement</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2949485_3_1" xlink:label="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains (losses) arising from settlements or curtailments net defined benefit liability asset.</label>
    <label id="id_13222622_2949485_1_1" xlink:label="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) arising from settlements or curtailments net defined benefit liability asset</label>
    <label id="id_13222622_2949485_2_1" xlink:label="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain or Loss on Settlement or Curtailment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:to="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:type="locator"/>
    <label id="id_13222622_2937950_1_1" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on change in fair value of derivatives</label>
    <label id="id_13222622_2937950_2_1" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net effects derivative contracts hedging criteria</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:to="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2938109_1_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on exchange differences on translation, net of tax</label>
    <label id="id_13222622_2938109_32_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Losses on exchange differences on translation of foreign operations, net of tax</label>
    <label id="id_13222622_2938109_2_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on the translation of foreign operations and associates</label>
    <label id="id_13222622_2938109_12_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Foreign currency translation losses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label id="id_13222622_2938110_1_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange gain (loss)</label>
    <label id="id_13222622_2938110_2_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange gain (loss), net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2936999_1_1" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on hedges of net investments in foreign operations, net of tax</label>
    <label id="id_13222622_2936999_2_1" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on hedge of a net investment in a foreign operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:to="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnHedgingInstrument" xlink:label="ifrs-full_GainsLossesOnHedgingInstrument" xlink:type="locator"/>
    <label id="id_13222622_2937960_1_1" xlink:label="ifrs-full_GainsLossesOnHedgingInstrument_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on hedging instrument, fair value hedges</label>
    <label id="id_13222622_2937960_14_1" xlink:label="ifrs-full_GainsLossesOnHedgingInstrument_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivative instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnHedgingInstrument" xlink:to="ifrs-full_GainsLossesOnHedgingInstrument_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesOnNetMonetaryPosition" xlink:label="ifrs-full_GainsLossesOnNetMonetaryPosition" xlink:type="locator"/>
    <label id="id_13222622_2937963_1_1" xlink:label="ifrs-full_GainsLossesOnNetMonetaryPosition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on net monetary position</label>
    <label id="id_13222622_2937963_2_1" xlink:label="ifrs-full_GainsLossesOnNetMonetaryPosition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Monetary position gain (loss), net</label>
    <label id="id_13222622_2937963_14_1" xlink:label="ifrs-full_GainsLossesOnNetMonetaryPosition_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Changes in value on the recognition of inflation effects</label>
    <label id="id_13222622_2937963_18_1" xlink:label="ifrs-full_GainsLossesOnNetMonetaryPosition_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:type="resource" xml:lang="en-US">Monetary position (gain) loss, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnNetMonetaryPosition" xlink:to="ifrs-full_GainsLossesOnNetMonetaryPosition_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments" xlink:type="locator"/>
    <label id="id_13222622_2936701_1_1" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) recognised in other comprehensive income, fair value measurement, entity's own equity instruments</label>
    <label id="id_13222622_2936701_2_1" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain or loss recognized in profit or loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments" xlink:to="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_GainsOnChangeInFairValueOfDerivatives" xlink:type="locator"/>
    <label id="id_13222622_2938124_1_1" xlink:label="ifrs-full_GainsOnChangeInFairValueOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains on change in fair value of derivatives</label>
    <label id="id_13222622_2938124_2_1" xlink:label="ifrs-full_GainsOnChangeInFairValueOfDerivatives_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net effects derivative contracts hedging criteria</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsOnChangeInFairValueOfDerivatives" xlink:to="ifrs-full_GainsOnChangeInFairValueOfDerivatives_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsOnDisposalsOfInvestmentProperties" xlink:label="ifrs-full_GainsOnDisposalsOfInvestmentProperties" xlink:type="locator"/>
    <label id="id_13222622_2936704_1_1" xlink:label="ifrs-full_GainsOnDisposalsOfInvestmentProperties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains on disposals of investment properties</label>
    <label id="id_13222622_2936704_2_1" xlink:label="ifrs-full_GainsOnDisposalsOfInvestmentProperties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of investment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsOnDisposalsOfInvestmentProperties" xlink:to="ifrs-full_GainsOnDisposalsOfInvestmentProperties_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GainsOnDisposalsOfNoncurrentAssets" xlink:label="ifrs-full_GainsOnDisposalsOfNoncurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2937664_1_1" xlink:label="ifrs-full_GainsOnDisposalsOfNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains on disposals of non-current assets</label>
    <label id="id_13222622_2937664_2_1" xlink:label="ifrs-full_GainsOnDisposalsOfNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of long-lived assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsOnDisposalsOfNoncurrentAssets" xlink:to="ifrs-full_GainsOnDisposalsOfNoncurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GeneralTaxRateOnOutsideTrading" xlink:label="fmx_GeneralTaxRateOnOutsideTrading" xlink:type="locator"/>
    <label id="id_13222622_3051187_3_1" xlink:label="fmx_GeneralTaxRateOnOutsideTrading_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">General tax rate on outside trading.</label>
    <label id="id_13222622_3051187_1_1" xlink:label="fmx_GeneralTaxRateOnOutsideTrading_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">General tax rate on outside trading</label>
    <label id="id_13222622_3051187_2_1" xlink:label="fmx_GeneralTaxRateOnOutsideTrading_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">General tax rate on outside trading</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GeneralTaxRateOnOutsideTrading" xlink:to="fmx_GeneralTaxRateOnOutsideTrading_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GenteraSABDeCVMember" xlink:label="fmx_GenteraSABDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984109_3_1" xlink:label="fmx_GenteraSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gentera, S.A.B. de C.V.</label>
    <label id="id_13222622_2984109_1_1" xlink:label="fmx_GenteraSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gentera, S.A.B. de C.V. [Member]</label>
    <label id="id_13222622_2984109_2_1" xlink:label="fmx_GenteraSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gentera, S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GenteraSABDeCVMember" xlink:to="fmx_GenteraSABDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <label id="id_13222622_2937968_1_1" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [axis]</label>
    <label id="id_13222622_2937968_2_1" xlink:label="ifrs-full_GeographicalAreasAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical areas [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasAxis" xlink:to="ifrs-full_GeographicalAreasAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <label id="id_13222622_2937969_1_1" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical areas [member]</label>
    <label id="id_13222622_2937969_2_1" xlink:label="ifrs-full_GeographicalAreasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical areas [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GeographicalAreasMember" xlink:to="ifrs-full_GeographicalAreasMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GeographicalEliminationMember" xlink:label="fmx_GeographicalEliminationMember" xlink:type="locator"/>
    <label id="id_13222622_2999094_3_1" xlink:label="fmx_GeographicalEliminationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Geographical elimination.</label>
    <label id="id_13222622_2999094_1_1" xlink:label="fmx_GeographicalEliminationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Geographical Elimination [Member]</label>
    <label id="id_13222622_2999094_2_1" xlink:label="fmx_GeographicalEliminationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Geographical Elimination [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GeographicalEliminationMember" xlink:to="fmx_GeographicalEliminationMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GlassBottlesMember" xlink:label="fmx_GlassBottlesMember" xlink:type="locator"/>
    <label id="id_13222622_2984147_3_1" xlink:label="fmx_GlassBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Glass bottles.</label>
    <label id="id_13222622_2984147_1_1" xlink:label="fmx_GlassBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Glass Bottles [Member]</label>
    <label id="id_13222622_2984147_2_1" xlink:label="fmx_GlassBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Glass bottles [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GlassBottlesMember" xlink:to="fmx_GlassBottlesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <label id="id_13222622_2936708_1_1" xlink:label="ifrs-full_Goodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill</label>
    <label id="id_13222622_2936708_32_1" xlink:label="ifrs-full_Goodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Total carrying amount of goodwill</label>
    <label id="id_13222622_2936708_2_1" xlink:label="ifrs-full_Goodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill</label>
    <label id="id_13222622_2936708_12_1" xlink:label="ifrs-full_Goodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Goodwill recognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Goodwill" xlink:to="ifrs-full_Goodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:type="locator"/>
    <label id="id_13222622_2937970_1_1" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill expected to be deductible for tax purposes</label>
    <label id="id_13222622_2937970_32_1" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Goodwill deductible for income tax purposes</label>
    <label id="id_13222622_2937970_2_1" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deductibility of a tax goodwill</label>
    <label id="id_13222622_2937970_12_1" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Goodwill</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:to="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GoodwillMember" xlink:label="ifrs-full_GoodwillMember" xlink:type="locator"/>
    <label id="id_13222622_2938130_1_1" xlink:label="ifrs-full_GoodwillMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goodwill [member]</label>
    <label id="id_13222622_2938130_2_1" xlink:label="ifrs-full_GoodwillMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodwillMember" xlink:to="ifrs-full_GoodwillMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GovernmentAgencyDebtInstrumentsHeld" xlink:label="fmx_GovernmentAgencyDebtInstrumentsHeld" xlink:type="locator"/>
    <label id="id_13222622_2961941_3_1" xlink:label="fmx_GovernmentAgencyDebtInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Government agency debt instruments held.</label>
    <label id="id_13222622_2961941_1_1" xlink:label="fmx_GovernmentAgencyDebtInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Government agency debt instruments held</label>
    <label id="id_13222622_2961941_6_1" xlink:label="fmx_GovernmentAgencyDebtInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Amortized cost</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GovernmentAgencyDebtInstrumentsHeld" xlink:to="fmx_GovernmentAgencyDebtInstrumentsHeld_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <label id="id_13222622_2937972_1_1" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross carrying amount [member]</label>
    <label id="id_13222622_2937972_2_1" xlink:label="ifrs-full_GrossCarryingAmountMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossCarryingAmountMember" xlink:to="ifrs-full_GrossCarryingAmountMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossFinanceLeaseObligations" xlink:label="ifrs-full_GrossFinanceLeaseObligations" xlink:type="locator"/>
    <label id="id_13222622_2936710_1_1" xlink:label="ifrs-full_GrossFinanceLeaseObligations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross finance lease obligations</label>
    <label id="id_13222622_2936710_2_1" xlink:label="ifrs-full_GrossFinanceLeaseObligations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Obligations under finance leases</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossFinanceLeaseObligations" xlink:to="ifrs-full_GrossFinanceLeaseObligations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <label id="id_13222622_2938134_1_1" xlink:label="ifrs-full_GrossProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gross profit</label>
    <label id="id_13222622_2938134_2_1" xlink:label="ifrs-full_GrossProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gross profit</label>
    <label id="id_13222622_2938134_6_1" xlink:label="ifrs-full_GrossProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Gross profit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GrossProfit" xlink:to="ifrs-full_GrossProfit_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoFinancieroBanorteSABDeCVMember" xlink:label="fmx_GrupoFinancieroBanorteSABDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984107_3_1" xlink:label="fmx_GrupoFinancieroBanorteSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Financiero Banorte, S.A.B. de C.V.</label>
    <label id="id_13222622_2984107_1_1" xlink:label="fmx_GrupoFinancieroBanorteSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Financiero Banorte, S.A.B. de C.V. [member]</label>
    <label id="id_13222622_2984107_2_1" xlink:label="fmx_GrupoFinancieroBanorteSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Financiero Banorte, S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoFinancieroBanorteSABDeCVMember" xlink:to="fmx_GrupoFinancieroBanorteSABDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoIndustrialBimboSABDeCVMember" xlink:label="fmx_GrupoIndustrialBimboSABDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984108_3_1" xlink:label="fmx_GrupoIndustrialBimboSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Industrial Bimbo, S.A.B. de C. V.</label>
    <label id="id_13222622_2984108_1_1" xlink:label="fmx_GrupoIndustrialBimboSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Industrial Bimbo, S.A.B. de C. V. [member]</label>
    <label id="id_13222622_2984108_2_1" xlink:label="fmx_GrupoIndustrialBimboSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Industrial Bimbo, S.A.B. de C. V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoIndustrialBimboSABDeCVMember" xlink:to="fmx_GrupoIndustrialBimboSABDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoIndustrialSaltilloSABDeCVMember" xlink:label="fmx_GrupoIndustrialSaltilloSABDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_3045176_3_1" xlink:label="fmx_GrupoIndustrialSaltilloSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Industrial Saltillo S.A.B. de C.V.</label>
    <label id="id_13222622_3045176_1_1" xlink:label="fmx_GrupoIndustrialSaltilloSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Industrial Saltillo S.A.B. de C.V [member]</label>
    <label id="id_13222622_3045176_2_1" xlink:label="fmx_GrupoIndustrialSaltilloSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Industrial Saltillo S.A.B. de C.V [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoIndustrialSaltilloSABDeCVMember" xlink:to="fmx_GrupoIndustrialSaltilloSABDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoIndustrialSaltilloSADeCVMember" xlink:label="fmx_GrupoIndustrialSaltilloSADeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2999516_3_1" xlink:label="fmx_GrupoIndustrialSaltilloSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Industrial Saltillo, SA de CV [Member]</label>
    <label id="id_13222622_2999516_1_1" xlink:label="fmx_GrupoIndustrialSaltilloSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Industrial Saltillo, SA de CV [Member]</label>
    <label id="id_13222622_2999516_2_1" xlink:label="fmx_GrupoIndustrialSaltilloSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Industrial Saltillo, S.A. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoIndustrialSaltilloSADeCVMember" xlink:to="fmx_GrupoIndustrialSaltilloSADeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoNacionalProvincialSABMember" xlink:label="fmx_GrupoNacionalProvincialSABMember" xlink:type="locator"/>
    <label id="id_13222622_2984155_3_1" xlink:label="fmx_GrupoNacionalProvincialSABMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo nacional provincial SAB [member]</label>
    <label id="id_13222622_2984155_1_1" xlink:label="fmx_GrupoNacionalProvincialSABMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Nacional Provincial SAB [Member]</label>
    <label id="id_13222622_2984155_2_1" xlink:label="fmx_GrupoNacionalProvincialSABMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Nacional Provincial, S.A.B. [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoNacionalProvincialSABMember" xlink:to="fmx_GrupoNacionalProvincialSABMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoSocofarMember" xlink:label="fmx_GrupoSocofarMember" xlink:type="locator"/>
    <label id="id_13222622_3006255_3_1" xlink:label="fmx_GrupoSocofarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo socofar.</label>
    <label id="id_13222622_3006255_1_1" xlink:label="fmx_GrupoSocofarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Socofar [member]</label>
    <label id="id_13222622_3006255_2_1" xlink:label="fmx_GrupoSocofarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Socofar [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoSocofarMember" xlink:to="fmx_GrupoSocofarMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoTelevisaSABDeCVMember" xlink:label="fmx_GrupoTelevisaSABDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984106_3_1" xlink:label="fmx_GrupoTelevisaSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Televisa, S.A.B. de C.V.</label>
    <label id="id_13222622_2984106_1_1" xlink:label="fmx_GrupoTelevisaSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Televisa, S.A.B. de C.V. [Member]</label>
    <label id="id_13222622_2984106_2_1" xlink:label="fmx_GrupoTelevisaSABDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Televisa, S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoTelevisaSABDeCVMember" xlink:to="fmx_GrupoTelevisaSABDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GrupoTorreyMember" xlink:label="fmx_GrupoTorreyMember" xlink:type="locator"/>
    <label id="id_13222622_2990378_3_1" xlink:label="fmx_GrupoTorreyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Torrey.</label>
    <label id="id_13222622_2990378_1_1" xlink:label="fmx_GrupoTorreyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Torrey [Member]</label>
    <label id="id_13222622_2990378_2_1" xlink:label="fmx_GrupoTorreyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Torrey [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoTorreyMember" xlink:to="fmx_GrupoTorreyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_GT" xlink:label="country_GT" xlink:type="locator"/>
    <label id="id_13222622_2933180_1_1" xlink:label="country_GT_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">GUATEMALA</label>
    <label id="id_13222622_2933180_2_1" xlink:label="country_GT_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guatemala [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_GT" xlink:to="country_GT_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_GTQ" xlink:label="currency_GTQ" xlink:type="locator"/>
    <label id="id_13222622_2934173_1_1" xlink:label="currency_GTQ_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guatemala, Quetzales</label>
    <label id="id_13222622_2934173_2_1" xlink:label="currency_GTQ_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guatemala, Quetzal [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_GTQ" xlink:to="currency_GTQ_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_GuaranteeDepositsOtherNoncurrentAssets" xlink:label="fmx_GuaranteeDepositsOtherNoncurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2949138_3_1" xlink:label="fmx_GuaranteeDepositsOtherNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Guarantee deposits other non current assets.</label>
    <label id="id_13222622_2949138_1_1" xlink:label="fmx_GuaranteeDepositsOtherNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Guarantee Deposits Other Non-Current Assets</label>
    <label id="id_13222622_2949138_2_1" xlink:label="fmx_GuaranteeDepositsOtherNoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Guarantee deposits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GuaranteeDepositsOtherNoncurrentAssets" xlink:to="fmx_GuaranteeDepositsOtherNoncurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_HealthDivisionMember" xlink:label="fmx_HealthDivisionMember" xlink:type="locator"/>
    <label id="id_13222622_2990211_3_1" xlink:label="fmx_HealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Health division.</label>
    <label id="id_13222622_2990211_1_1" xlink:label="fmx_HealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Health Division [Member]</label>
    <label id="id_13222622_2990211_2_1" xlink:label="fmx_HealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Health Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HealthDivisionMember" xlink:to="fmx_HealthDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_HedgedItemsAxis" xlink:label="ifrs-full_HedgedItemsAxis" xlink:type="locator"/>
    <label id="id_13222622_2938135_1_1" xlink:label="ifrs-full_HedgedItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged items [axis]</label>
    <label id="id_13222622_2938135_2_1" xlink:label="ifrs-full_HedgedItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedged items [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgedItemsAxis" xlink:to="ifrs-full_HedgedItemsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_HedgedItemsMember" xlink:label="ifrs-full_HedgedItemsMember" xlink:type="locator"/>
    <label id="id_13222622_2937675_1_1" xlink:label="ifrs-full_HedgedItemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedged items [member]</label>
    <label id="id_13222622_2937675_2_1" xlink:label="ifrs-full_HedgedItemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedged items [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HedgedItemsMember" xlink:to="ifrs-full_HedgedItemsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_HeinekenGroupMember" xlink:label="fmx_HeinekenGroupMember" xlink:type="locator"/>
    <label id="id_13222622_2984662_3_1" xlink:label="fmx_HeinekenGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Heineken group.</label>
    <label id="id_13222622_2984662_1_1" xlink:label="fmx_HeinekenGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Heineken group [member]</label>
    <label id="id_13222622_2984662_2_1" xlink:label="fmx_HeinekenGroupMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Heineken [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HeinekenGroupMember" xlink:to="fmx_HeinekenGroupMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_HeinekenHoldingNVMember" xlink:label="fmx_HeinekenHoldingNVMember" xlink:type="locator"/>
    <label id="id_13222622_2990500_3_1" xlink:label="fmx_HeinekenHoldingNVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Heineken Holding NV.</label>
    <label id="id_13222622_2990500_1_1" xlink:label="fmx_HeinekenHoldingNVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Heineken Holding NV [Member]</label>
    <label id="id_13222622_2990500_2_1" xlink:label="fmx_HeinekenHoldingNVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Heineken Holding N.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HeinekenHoldingNVMember" xlink:to="fmx_HeinekenHoldingNVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_HeinekenInvestmentMember" xlink:label="fmx_HeinekenInvestmentMember" xlink:type="locator"/>
    <label id="id_13222622_3052808_3_1" xlink:label="fmx_HeinekenInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Heineken investment.</label>
    <label id="id_13222622_3052808_1_1" xlink:label="fmx_HeinekenInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Heineken investment [member]</label>
    <label id="id_13222622_3052808_2_1" xlink:label="fmx_HeinekenInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Heineken investment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HeinekenInvestmentMember" xlink:to="fmx_HeinekenInvestmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_HeinekenNVMember" xlink:label="fmx_HeinekenNVMember" xlink:type="locator"/>
    <label id="id_13222622_2990499_3_1" xlink:label="fmx_HeinekenNVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Heineken NV.</label>
    <label id="id_13222622_2990499_1_1" xlink:label="fmx_HeinekenNVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Heineken NV [Member]</label>
    <label id="id_13222622_2990499_2_1" xlink:label="fmx_HeinekenNVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Heineken Company [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HeinekenNVMember" xlink:to="fmx_HeinekenNVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_HeinekenSharesMember" xlink:label="fmx_HeinekenSharesMember" xlink:type="locator"/>
    <label id="id_13222622_3044076_3_1" xlink:label="fmx_HeinekenSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Heineken shares.</label>
    <label id="id_13222622_3044076_1_1" xlink:label="fmx_HeinekenSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Heineken shares [member]</label>
    <label id="id_13222622_3044076_2_1" xlink:label="fmx_HeinekenSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Heineken group shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HeinekenSharesMember" xlink:to="fmx_HeinekenSharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_HeldtomaturityInvestments" xlink:label="ifrs-full_HeldtomaturityInvestments" xlink:type="locator"/>
    <label id="id_13222622_2937978_1_1" xlink:label="ifrs-full_HeldtomaturityInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Held-to-maturity investments</label>
    <label id="id_13222622_2937978_6_1" xlink:label="ifrs-full_HeldtomaturityInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Held to maturity investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_HeldtomaturityInvestments" xlink:to="ifrs-full_HeldtomaturityInvestments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <label id="id_13222622_2936717_1_1" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Identifiable assets acquired (liabilities assumed)</label>
    <label id="id_13222622_2936717_2_1" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net assets for an amount</label>
    <label id="id_13222622_2936717_6_1" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net assets acquired</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:to="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2937678_1_1" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Identifiable intangible assets recognised as of acquisition date</label>
    <label id="id_13222622_2937678_2_1" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets recognised as of acquisition date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IdentityOfPriceIndex" xlink:label="ifrs-full_IdentityOfPriceIndex" xlink:type="locator"/>
    <label id="id_13222622_2937982_1_1" xlink:label="ifrs-full_IdentityOfPriceIndex_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of identity of price index</label>
    <label id="id_13222622_2937982_2_1" xlink:label="ifrs-full_IdentityOfPriceIndex_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Description of identity of price index</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IdentityOfPriceIndex" xlink:to="ifrs-full_IdentityOfPriceIndex_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_IE" xlink:label="country_IE" xlink:type="locator"/>
    <label id="id_13222622_2934635_1_1" xlink:label="country_IE_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IRELAND</label>
    <label id="id_13222622_2934635_2_1" xlink:label="country_IE_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ireland [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_IE" xlink:to="country_IE_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLoss" xlink:label="ifrs-full_ImpairmentLoss" xlink:type="locator"/>
    <label id="id_13222622_2936720_1_1" xlink:label="ifrs-full_ImpairmentLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss</label>
    <label id="id_13222622_2936720_2_1" xlink:label="ifrs-full_ImpairmentLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of long-lived assets</label>
    <label id="id_13222622_2936720_12_1" xlink:label="ifrs-full_ImpairmentLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Impairment recognized</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLoss" xlink:to="ifrs-full_ImpairmentLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2937984_1_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in other comprehensive income, intangible assets other than goodwill</label>
    <label id="id_13222622_2937984_2_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuela impairment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2937681_1_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, goodwill</label>
    <label id="id_13222622_2937681_2_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment charge on goodwill</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2936724_1_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, intangible assets and goodwill</label>
    <label id="id_13222622_2936724_2_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment losses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2937682_1_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, intangible assets other than goodwill</label>
    <label id="id_13222622_2937682_2_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment charge</label>
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    <label id="id_13222622_2938140_1_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment loss recognised in profit or loss, property, plant and equipment</label>
    <label id="id_13222622_2938140_2_1" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuela impairment</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:type="locator"/>
    <label id="id_13222622_2938143_1_1" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment of financial assets [axis]</label>
    <label id="id_13222622_2938143_2_1" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment of financial assets [axis]</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_IncomeFromRelatedPartyAbstract" xlink:label="fmx_IncomeFromRelatedPartyAbstract" xlink:type="locator"/>
    <label id="id_13222622_2940262_3_1" xlink:label="fmx_IncomeFromRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income from related party [abstract]</label>
    <label id="id_13222622_2940262_1_1" xlink:label="fmx_IncomeFromRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income from related party [abstract]</label>
    <label id="id_13222622_2940262_2_1" xlink:label="fmx_IncomeFromRelatedPartyAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeFromRelatedPartyAbstract" xlink:to="fmx_IncomeFromRelatedPartyAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2963964_3_1" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income loss before income taxes and share of the profit of associates and joint ventures accounted for using the equity method.</label>
    <label id="id_13222622_2963964_1_1" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income(loss) before income taxes and share of the profit of associates and joint ventures accounted for using the equity method</label>
    <label id="id_13222622_2963964_6_1" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes and share of the profit of associates and joint ventures accounted for using the equity method</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:to="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:type="locator"/>
    <label id="id_13222622_2937995_1_1" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</label>
    <label id="id_13222622_2937995_2_1" xlink:label="ifrs-full_IncomeStatementAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit or loss [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeStatementAbstract" xlink:to="ifrs-full_IncomeStatementAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationAxis" xlink:label="us-gaap_IncomeStatementLocationAxis" xlink:type="locator"/>
    <label id="id_13222622_2924290_1_1" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</label>
    <label id="id_13222622_2924290_2_1" xlink:label="us-gaap_IncomeStatementLocationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationAxis" xlink:to="us-gaap_IncomeStatementLocationAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_IncomeStatementLocationDomain" xlink:label="us-gaap_IncomeStatementLocationDomain" xlink:type="locator"/>
    <label id="id_13222622_2923851_1_1" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</label>
    <label id="id_13222622_2923851_2_1" xlink:label="us-gaap_IncomeStatementLocationDomain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location [Domain]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementLocationDomain" xlink:to="us-gaap_IncomeStatementLocationDomain_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncomeTaxesChangesInStatutoryRates" xlink:label="fmx_IncomeTaxesChangesInStatutoryRates" xlink:type="locator"/>
    <label id="id_13222622_2951018_3_1" xlink:label="fmx_IncomeTaxesChangesInStatutoryRates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income taxes changes in statutory rates.</label>
    <label id="id_13222622_2951018_1_1" xlink:label="fmx_IncomeTaxesChangesInStatutoryRates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Taxes Changes in Statutory Rates</label>
    <label id="id_13222622_2951018_2_1" xlink:label="fmx_IncomeTaxesChangesInStatutoryRates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in the statutory rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeTaxesChangesInStatutoryRates" xlink:to="fmx_IncomeTaxesChangesInStatutoryRates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938000_1_1" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income taxes paid (refund), classified as operating activities</label>
    <label id="id_13222622_2938000_14_1" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Income taxes paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:to="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <label id="id_13222622_2937691_1_1" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax expense (income), continuing operations</label>
    <label id="id_13222622_2937691_2_1" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes</label>
    <label id="id_13222622_2937691_6_1" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:to="ifrs-full_IncomeTaxExpenseContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2936735_1_1" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax relating to cash flow hedges of other comprehensive income</label>
    <label id="id_13222622_2936735_2_1" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on cash flow hedges</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2938147_1_1" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax relating to components of other comprehensive income</label>
    <label id="id_13222622_2938147_6_1" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total income tax cost recognized in OCI</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2938149_1_1" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax relating to exchange differences on translation of other comprehensive income</label>
    <label id="id_13222622_2938149_2_1" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2938004_1_1" xlink:label="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax relating to remeasurements of defined benefit plans of other comprehensive income</label>
    <label id="id_13222622_2938004_2_1" xlink:label="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefit liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:to="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <label id="id_13222622_2938154_1_1" xlink:label="ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax relating to share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss</label>
    <label id="id_13222622_2938154_2_1" xlink:label="ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of the other comprehensive income of associates and joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:to="ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments" xlink:label="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments" xlink:type="locator"/>
    <label id="id_13222622_2949382_3_1" xlink:label="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income tax relating unrealized gain (loss) on derivative financial instruments.</label>
    <label id="id_13222622_2949382_1_1" xlink:label="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income tax relating Unrealized Gain (Loss) on Derivative Financial Instruments</label>
    <label id="id_13222622_2949382_2_1" xlink:label="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on cash flow hedges</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges" xlink:type="locator"/>
    <label id="id_13222622_2938007_1_1" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents before effect of exchange rate changes</label>
    <label id="id_13222622_2938007_6_1" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsBeforeEffectOfExchangeRateChanges_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:label="ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:type="locator"/>
    <label id="id_13222622_2936746_1_1" xlink:label="ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in existing liabilities, contingent liabilities recognised in business combination</label>
    <label id="id_13222622_2936746_2_1" xlink:label="ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingencies added in business combination</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges" xlink:label="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges" xlink:type="locator"/>
    <label id="id_13222622_2960471_3_1" xlink:label="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in existing provisions from penalties and other charges.</label>
    <label id="id_13222622_2960471_1_1" xlink:label="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in existing provisions from penalties and other charges.</label>
    <label id="id_13222622_2960471_2_1" xlink:label="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Penalties and other charges</label>
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    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseDecreaseInForeignCurrencyExchangeRate" xlink:label="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate" xlink:type="locator"/>
    <label id="id_13222622_3020787_3_1" xlink:label="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase decrease in foreign currency exchange rate.</label>
    <label id="id_13222622_3020787_1_1" xlink:label="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase Decrease In Foreign Currency Exchange Rate</label>
    <label id="id_13222622_3020787_2_1" xlink:label="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase decrease in foreign currency exchange rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate" xlink:to="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates" xlink:type="locator"/>
    <label id="id_13222622_2960472_3_1" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The increase (decrease) in provisions resulting from foreign currency exchange rate changes.</label>
    <label id="id_13222622_2960472_1_1" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in provision from effects of changes in foreign exchange rates</label>
    <label id="id_13222622_2960472_2_1" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of changes in foreign exchange rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates" xlink:to="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseDecreaseInProvisionsFromNewContingencies" xlink:label="fmx_IncreaseDecreaseInProvisionsFromNewContingencies" xlink:type="locator"/>
    <label id="id_13222622_2952450_3_1" xlink:label="fmx_IncreaseDecreaseInProvisionsFromNewContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in provisions from new contingencies</label>
    <label id="id_13222622_2952450_1_1" xlink:label="fmx_IncreaseDecreaseInProvisionsFromNewContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in provisions from new contingencies</label>
    <label id="id_13222622_2952450_2_1" xlink:label="fmx_IncreaseDecreaseInProvisionsFromNewContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">New contingencies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseInProvisionsFromNewContingencies" xlink:to="fmx_IncreaseDecreaseInProvisionsFromNewContingencies_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:type="locator"/>
    <label id="id_13222622_2938170_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through acquisition of subsidiary, equity</label>
    <label id="id_13222622_2938170_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Acquisition of Grupo Socofar (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary" xlink:to="ifrs-full_IncreaseDecreaseThroughAcquisitionOfSubsidiary_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2938171_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through adjustments arising from passage of time, allowance account for credit losses of financial assets</label>
    <label id="id_13222622_2938171_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Charges and write-offs of uncollectible accounts</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates" xlink:label="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates" xlink:type="locator"/>
    <label id="id_13222622_2954563_3_1" xlink:label="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase decrease through change in equity method of associates.</label>
    <label id="id_13222622_2954563_1_1" xlink:label="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase Decrease Through Change In Equity Method Of Associates</label>
    <label id="id_13222622_2954563_2_1" xlink:label="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other movements of equity method of associates, net of taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates" xlink:to="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:label="ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:type="locator"/>
    <label id="id_13222622_2938175_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through change in equity of subsidiaries, equity</label>
    <label id="id_13222622_2938175_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other acquisitions and remeasurements (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:to="ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2938177_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through changes in foreign exchange rates, net defined benefit liability (asset)</label>
    <label id="id_13222622_2938177_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial losses arising from exchange rates</label>
    <label id="id_13222622_2938177_12_1" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange loss (gain)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2936761_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities</label>
    <label id="id_13222622_2936761_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash flows, Foreign Exchange movement</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities" xlink:to="ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938182_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through financing cash flows, liabilities arising from financing activities</label>
    <label id="id_13222622_2938182_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash Flows</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities" xlink:to="ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2938025_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, allowance account for credit losses of financial assets</label>
    <label id="id_13222622_2938025_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of changes in foreign exchange rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2938185_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, intangible assets and goodwill</label>
    <label id="id_13222622_2938185_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of movements in exchange rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2937731_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through net exchange differences, property, plant and equipment</label>
    <label id="id_13222622_2937731_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects of changes in foreign exchange rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938030_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through obtaining or losing control of subsidiaries or other businesses, liabilities arising from financing activities</label>
    <label id="id_13222622_2938030_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash flows, Acquisition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities" xlink:to="ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="locator"/>
    <label id="id_13222622_2937739_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through share-based payment transactions, equity</label>
    <label id="id_13222622_2937739_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Issuance (purchase) of shares associated with share-based payment plans</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:to="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:type="locator"/>
    <label id="id_13222622_2938196_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through other changes, equity</label>
    <label id="id_13222622_2938196_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other changes in equity</label>
    <label id="id_13222622_2938196_12_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other equity instruments from acquisition of Vonpar (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2937745_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through transfers from construction in progress, property, plant and equipment</label>
    <label id="id_13222622_2937745_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer of completed projects in progress</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2938035_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through transfers from (to) investment property, property, plant and equipment</label>
    <label id="id_13222622_2938035_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer (to)/from assets classified as held for sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2937746_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through transfers, intangible assets and goodwill</label>
    <label id="id_13222622_2937746_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transfer of completed development systems</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseInForeignCurrencyExchangeRatePercentage" xlink:label="fmx_IncreaseInForeignCurrencyExchangeRatePercentage" xlink:type="locator"/>
    <label id="id_13222622_3021211_3_1" xlink:label="fmx_IncreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase in foreign currency exchange rate percentage.</label>
    <label id="id_13222622_3021211_1_1" xlink:label="fmx_IncreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase In Foreign Currency Exchange Rate Percentage</label>
    <label id="id_13222622_3021211_2_1" xlink:label="fmx_IncreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in Exchange Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseInForeignCurrencyExchangeRatePercentage" xlink:to="fmx_IncreaseInForeignCurrencyExchangeRatePercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseInForeignCurrencyRateEffectOnEquity" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnEquity" xlink:type="locator"/>
    <label id="id_13222622_2963910_3_1" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase in foreign currency rate effect on equity.</label>
    <label id="id_13222622_2963910_1_1" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in foreign currency rate effect on equity</label>
    <label id="id_13222622_2963910_2_1" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseInForeignCurrencyRateEffectOnEquity" xlink:to="fmx_IncreaseInForeignCurrencyRateEffectOnEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:type="locator"/>
    <label id="id_13222622_2963908_3_1" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase in foreign currency rate effect on profit or loss.</label>
    <label id="id_13222622_2963908_1_1" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase in foreign currency rate effect on profit or loss</label>
    <label id="id_13222622_2963908_2_1" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect on Profit or Loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:to="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2936777_1_1" xlink:label="ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase through new leases, liabilities arising from financing activities</label>
    <label id="id_13222622_2936777_2_1" xlink:label="ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash flows, Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:to="ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndefiniteLivedIntangibleAssets1Member" xlink:label="fmx_IndefiniteLivedIntangibleAssets1Member" xlink:type="locator"/>
    <label id="id_13222622_2998553_3_1" xlink:label="fmx_IndefiniteLivedIntangibleAssets1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indefinite lived intangible assets.</label>
    <label id="id_13222622_2998553_1_1" xlink:label="fmx_IndefiniteLivedIntangibleAssets1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indefinite Lived Intangible Assets 1 [Member]</label>
    <label id="id_13222622_2998553_2_1" xlink:label="fmx_IndefiniteLivedIntangibleAssets1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indefinite lived intangible assets [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndefiniteLivedIntangibleAssets1Member" xlink:to="fmx_IndefiniteLivedIntangibleAssets1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndemnifiableAssetsFromBusinessCombination" xlink:label="fmx_IndemnifiableAssetsFromBusinessCombination" xlink:type="locator"/>
    <label id="id_13222622_2954768_3_1" xlink:label="fmx_IndemnifiableAssetsFromBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indemnifiable assets from business combination.</label>
    <label id="id_13222622_2954768_1_1" xlink:label="fmx_IndemnifiableAssetsFromBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indemnifiable Assets From Business Combination</label>
    <label id="id_13222622_2954768_2_1" xlink:label="fmx_IndemnifiableAssetsFromBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indemnifiable assets</label>
    <label id="id_13222622_2954768_12_1" xlink:label="fmx_IndemnifiableAssetsFromBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Indemnifiable assets from business combinations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndemnifiableAssetsFromBusinessCombination" xlink:to="fmx_IndemnifiableAssetsFromBusinessCombination_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndirectTaxContingenciesAmount" xlink:label="fmx_IndirectTaxContingenciesAmount" xlink:type="locator"/>
    <label id="id_13222622_2957389_3_1" xlink:label="fmx_IndirectTaxContingenciesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indirect tax contingencies amount.</label>
    <label id="id_13222622_2957389_1_1" xlink:label="fmx_IndirectTaxContingenciesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indirect Tax Contingencies Amount</label>
    <label id="id_13222622_2957389_2_1" xlink:label="fmx_IndirectTaxContingenciesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsettled indirect tax contingencies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndirectTaxContingenciesAmount" xlink:to="fmx_IndirectTaxContingenciesAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndirectTaxesMember" xlink:label="fmx_IndirectTaxesMember" xlink:type="locator"/>
    <label id="id_13222622_2987965_3_1" xlink:label="fmx_IndirectTaxesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Indirect taxes.</label>
    <label id="id_13222622_2987965_1_1" xlink:label="fmx_IndirectTaxesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Indirect Taxes [Member]</label>
    <label id="id_13222622_2987965_2_1" xlink:label="fmx_IndirectTaxesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Indirect taxes [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndirectTaxesMember" xlink:to="fmx_IndirectTaxesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:type="locator"/>
    <label id="id_13222622_2938200_1_1" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Individual assets or cash-generating units [axis]</label>
    <label id="id_13222622_2938200_2_1" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Individual assets or cash-generating units [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <label id="id_13222622_2938045_1_1" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash-generating units [axis]</label>
    <label id="id_13222622_2938045_2_1" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash-generating units [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:to="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember" xlink:label="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember" xlink:type="locator"/>
    <label id="id_13222622_2990495_3_1" xlink:label="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industria Envasadora de Queretaro, S.A. de C.V. ("IEQSA").</label>
    <label id="id_13222622_2990495_1_1" xlink:label="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industria Envasadora De Queretaro SA De CVIEQSA [Member]</label>
    <label id="id_13222622_2990495_2_1" xlink:label="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industria Envasadora De Queretaro SA De CVIEQSA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember" xlink:to="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember" xlink:label="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember" xlink:type="locator"/>
    <label id="id_13222622_2983300_3_1" xlink:label="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industria Envasadora de Quertaro, S.A. de C.V. (IEQSA).</label>
    <label id="id_13222622_2983300_1_1" xlink:label="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industria Envasadora de Quertaro, S.A. de C.V. (IEQSA) [Member]</label>
    <label id="id_13222622_2983300_2_1" xlink:label="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industria Envasadora de Quertaro, S.A. de C.V. (IEQSA) [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember" xlink:to="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember" xlink:label="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember" xlink:type="locator"/>
    <label id="id_13222622_2983298_3_1" xlink:label="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Industria Mexicana de Reciclaje, S.A. de C.V. ("IMER").</label>
    <label id="id_13222622_2983298_1_1" xlink:label="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Industria Mexicana de Reciclaje, S.A. de C.V. ("IMER") [Member]</label>
    <label id="id_13222622_2983298_2_1" xlink:label="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Industria Mexicana de Reciclaje, S.A. de C.V. ("IMER") [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember" xlink:to="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InformationTechnologyAndManagementSystemCostsMember" xlink:label="fmx_InformationTechnologyAndManagementSystemCostsMember" xlink:type="locator"/>
    <label id="id_13222622_2990434_3_1" xlink:label="fmx_InformationTechnologyAndManagementSystemCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information technology and management system costs.</label>
    <label id="id_13222622_2990434_1_1" xlink:label="fmx_InformationTechnologyAndManagementSystemCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Information Technology And Management System Costs [Member]</label>
    <label id="id_13222622_2990434_2_1" xlink:label="fmx_InformationTechnologyAndManagementSystemCostsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Information technology and management system costs [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InformationTechnologyAndManagementSystemCostsMember" xlink:to="fmx_InformationTechnologyAndManagementSystemCostsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InformationTechnologyEquipmentMember" xlink:label="fmx_InformationTechnologyEquipmentMember" xlink:type="locator"/>
    <label id="id_13222622_2987632_3_1" xlink:label="fmx_InformationTechnologyEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Information technology equipment.</label>
    <label id="id_13222622_2987632_1_1" xlink:label="fmx_InformationTechnologyEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Information technology equipment [Member]</label>
    <label id="id_13222622_2987632_2_1" xlink:label="fmx_InformationTechnologyEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Information technology equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InformationTechnologyEquipmentMember" xlink:to="fmx_InformationTechnologyEquipmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InstallmentOneMember" xlink:label="fmx_InstallmentOneMember" xlink:type="locator"/>
    <label id="id_13222622_2994821_3_1" xlink:label="fmx_InstallmentOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Installment one.</label>
    <label id="id_13222622_2994821_1_1" xlink:label="fmx_InstallmentOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Installment One [Member]</label>
    <label id="id_13222622_2994821_2_1" xlink:label="fmx_InstallmentOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Installment One [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InstallmentOneMember" xlink:to="fmx_InstallmentOneMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InstallmentTwoMember" xlink:label="fmx_InstallmentTwoMember" xlink:type="locator"/>
    <label id="id_13222622_2994663_3_1" xlink:label="fmx_InstallmentTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Installment two.</label>
    <label id="id_13222622_2994663_1_1" xlink:label="fmx_InstallmentTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Installment Two [Member]</label>
    <label id="id_13222622_2994663_2_1" xlink:label="fmx_InstallmentTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Installment Two [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InstallmentTwoMember" xlink:to="fmx_InstallmentTwoMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InsuranceRebates" xlink:label="fmx_InsuranceRebates" xlink:type="locator"/>
    <label id="id_13222622_2950753_3_1" xlink:label="fmx_InsuranceRebates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Insurance rebates.</label>
    <label id="id_13222622_2950753_1_1" xlink:label="fmx_InsuranceRebates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Insurance Rebates</label>
    <label id="id_13222622_2950753_2_1" xlink:label="fmx_InsuranceRebates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance rebates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InsuranceRebates" xlink:to="fmx_InsuranceRebates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2937767_1_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill</label>
    <label id="id_13222622_2937767_4_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2937767_5_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</label>
    <label id="id_13222622_2937767_2_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goodwill and distribution rights allocated</label>
    <label id="id_13222622_2937767_12_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <label id="id_13222622_2938214_1_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill [member]</label>
    <label id="id_13222622_2938214_2_1" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets and goodwill [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:to="ifrs-full_IntangibleAssetsAndGoodwillMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:type="locator"/>
    <label id="id_13222622_2937464_1_1" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets other than goodwill [member]</label>
    <label id="id_13222622_2937464_2_1" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Intangible assets [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:to="ifrs-full_IntangibleAssetsOtherThanGoodwillMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_IntangibleAssetsRenewableTerm" xlink:label="fmx_IntangibleAssetsRenewableTerm" xlink:type="locator"/>
    <label id="id_13222622_2977180_3_1" xlink:label="fmx_IntangibleAssetsRenewableTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Intangible assets renewable term.</label>
    <label id="id_13222622_2977180_1_1" xlink:label="fmx_IntangibleAssetsRenewableTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible Assets Renewable Term</label>
    <label id="id_13222622_2977180_2_1" xlink:label="fmx_IntangibleAssetsRenewableTerm_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Automatic renewable term</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IntangibleAssetsRenewableTerm" xlink:to="fmx_IntangibleAssetsRenewableTerm_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:label="ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:type="locator"/>
    <label id="id_13222622_2937465_1_1" xlink:label="ifrs-full_IntangibleAssetsUnderDevelopmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Intangible assets under development [member]</label>
    <label id="id_13222622_2937465_2_1" xlink:label="ifrs-full_IntangibleAssetsUnderDevelopmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Systems in Development [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:to="ifrs-full_IntangibleAssetsUnderDevelopmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestCostsCapitalised" xlink:label="ifrs-full_InterestCostsCapitalised" xlink:type="locator"/>
    <label id="id_13222622_2937467_1_1" xlink:label="ifrs-full_InterestCostsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest costs capitalised</label>
    <label id="id_13222622_2937467_2_1" xlink:label="ifrs-full_InterestCostsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalized interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestCostsCapitalised" xlink:to="ifrs-full_InterestCostsCapitalised_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense" xlink:type="locator"/>
    <label id="id_13222622_2937469_1_1" xlink:label="ifrs-full_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense</label>
    <label id="id_13222622_2937469_2_1" xlink:label="ifrs-full_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</label>
    <label id="id_13222622_2937469_6_1" xlink:label="ifrs-full_InterestExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpense" xlink:to="ifrs-full_InterestExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InterestExpenseAndFeePaidRelatedPartyTransactions" xlink:label="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2949236_3_1" xlink:label="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest expense and fee paid related party transactions.</label>
    <label id="id_13222622_2949236_1_1" xlink:label="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense And Fee Paid Related Party Transactions</label>
    <label id="id_13222622_2949236_2_1" xlink:label="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense and fee paid to related party transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions" xlink:to="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2938219_1_1" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense (income), net defined benefit liability (asset)</label>
    <label id="id_13222622_2938219_32_1" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Net Interest on the Net Defined Benefit Liability</label>
    <label id="id_13222622_2938219_2_1" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of Net Interest on the Net Defined Benefit Liability (Asset)</label>
    <label id="id_13222622_2938219_12_1" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Interest expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred" xlink:label="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred" xlink:type="locator"/>
    <label id="id_13222622_2954379_3_1" xlink:label="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest expense interest income and net foreign exchange gain losses incurred.</label>
    <label id="id_13222622_2954379_1_1" xlink:label="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense Interest Income And Net Foreign Exchange Gain Losses Incurred</label>
    <label id="id_13222622_2954379_2_1" xlink:label="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense, interest income and net foreign exchange</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred" xlink:to="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_InterestExpenseMember" xlink:label="us-gaap_InterestExpenseMember" xlink:type="locator"/>
    <label id="id_13222622_2924513_1_1" xlink:label="us-gaap_InterestExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense [Member]</label>
    <label id="id_13222622_2924513_2_1" xlink:label="us-gaap_InterestExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest expense [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseMember" xlink:to="us-gaap_InterestExpenseMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpenseOnBorrowings" xlink:label="ifrs-full_InterestExpenseOnBorrowings" xlink:type="locator"/>
    <label id="id_13222622_2938071_1_1" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense on borrowings</label>
    <label id="id_13222622_2938071_2_1" xlink:label="ifrs-full_InterestExpenseOnBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest on debts and borrowings</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnBorrowings" xlink:to="ifrs-full_InterestExpenseOnBorrowings_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestExpenseOnFinanceLeases" xlink:label="ifrs-full_InterestExpenseOnFinanceLeases" xlink:type="locator"/>
    <label id="id_13222622_2937774_1_1" xlink:label="ifrs-full_InterestExpenseOnFinanceLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest expense on finance leases</label>
    <label id="id_13222622_2937774_2_1" xlink:label="ifrs-full_InterestExpenseOnFinanceLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance charges payable under finance leases</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestExpenseOnFinanceLeases" xlink:to="ifrs-full_InterestExpenseOnFinanceLeases_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InterestExpenseThroughForeignCurrency" xlink:label="fmx_InterestExpenseThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_13222622_2950644_3_1" xlink:label="fmx_InterestExpenseThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest expense through foreign currency.</label>
    <label id="id_13222622_2950644_1_1" xlink:label="fmx_InterestExpenseThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest Expense Through Foreign Currency</label>
    <label id="id_13222622_2950644_2_1" xlink:label="fmx_InterestExpenseThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest Expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InterestExpenseThroughForeignCurrency" xlink:to="fmx_InterestExpenseThroughForeignCurrency_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:type="locator"/>
    <label id="id_13222622_2938229_1_1" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest income on loans and receivables</label>
    <label id="id_13222622_2938229_2_1" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognized interest income on loans and receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:to="ifrs-full_InterestIncomeOnLoansAndReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2937781_1_1" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest paid, classified as financing activities</label>
    <label id="id_13222622_2937781_14_1" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Interest paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:to="ifrs-full_InterestPaidClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRateRiskMember" xlink:label="ifrs-full_InterestRateRiskMember" xlink:type="locator"/>
    <label id="id_13222622_2938232_1_1" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate risk [member]</label>
    <label id="id_13222622_2938232_2_1" xlink:label="ifrs-full_InterestRateRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate risk [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateRiskMember" xlink:to="ifrs-full_InterestRateRiskMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRateSwapContractMember" xlink:label="ifrs-full_InterestRateSwapContractMember" xlink:type="locator"/>
    <label id="id_13222622_2937785_1_1" xlink:label="ifrs-full_InterestRateSwapContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate swap contract [member]</label>
    <label id="id_13222622_2937785_2_1" xlink:label="ifrs-full_InterestRateSwapContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swap [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateSwapContractMember" xlink:to="ifrs-full_InterestRateSwapContractMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <label id="id_13222622_2937786_1_1" xlink:label="ifrs-full_InterestRateTypesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate types [member]</label>
    <label id="id_13222622_2937786_2_1" xlink:label="ifrs-full_InterestRateTypesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate types [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestRateTypesMember" xlink:to="ifrs-full_InterestRateTypesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938079_1_1" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest received, classified as investing activities</label>
    <label id="id_13222622_2938079_2_1" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest received</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:to="ifrs-full_InterestReceivedClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <label id="id_13222622_2937788_1_1" xlink:label="ifrs-full_Inventories_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current inventories</label>
    <label id="id_13222622_2937788_2_1" xlink:label="ifrs-full_Inventories_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories</label>
    <label id="id_13222622_2937788_6_1" xlink:label="ifrs-full_Inventories_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Inventories</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Inventories" xlink:to="ifrs-full_Inventories_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_Inventories1Member" xlink:label="fmx_Inventories1Member" xlink:type="locator"/>
    <label id="id_13222622_3012195_3_1" xlink:label="fmx_Inventories1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Inventories.</label>
    <label id="id_13222622_3012195_1_1" xlink:label="fmx_Inventories1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories 1 [Member]</label>
    <label id="id_13222622_3012195_2_1" xlink:label="fmx_Inventories1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_Inventories1Member" xlink:to="fmx_Inventories1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InventoriesTotal" xlink:label="ifrs-full_InventoriesTotal" xlink:type="locator"/>
    <label id="id_13222622_2938086_1_1" xlink:label="ifrs-full_InventoriesTotal_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventories</label>
    <label id="id_13222622_2938086_2_1" xlink:label="ifrs-full_InventoriesTotal_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InventoriesTotal" xlink:to="ifrs-full_InventoriesTotal_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InventoryMember" xlink:label="fmx_InventoryMember" xlink:type="locator"/>
    <label id="id_13222622_2992036_3_1" xlink:label="fmx_InventoryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Inventory.</label>
    <label id="id_13222622_2992036_1_1" xlink:label="fmx_InventoryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory [Member]</label>
    <label id="id_13222622_2992036_2_1" xlink:label="fmx_InventoryMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InventoryMember" xlink:to="fmx_InventoryMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InventoryWritedown2011" xlink:label="ifrs-full_InventoryWritedown2011" xlink:type="locator"/>
    <label id="id_13222622_2938237_1_1" xlink:label="ifrs-full_InventoryWritedown2011_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Inventory write-down</label>
    <label id="id_13222622_2938237_2_1" xlink:label="ifrs-full_InventoryWritedown2011_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventory write-downs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InventoryWritedown2011" xlink:to="ifrs-full_InventoryWritedown2011_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2937789_1_1" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments accounted for using equity method</label>
    <label id="id_13222622_2937789_2_1" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Carrying Amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:to="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentIncome" xlink:label="ifrs-full_InvestmentIncome" xlink:type="locator"/>
    <label id="id_13222622_2937790_1_1" xlink:label="ifrs-full_InvestmentIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investment income</label>
    <label id="id_13222622_2937790_2_1" xlink:label="ifrs-full_InvestmentIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentIncome" xlink:to="ifrs-full_InvestmentIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentsInAssociates" xlink:label="ifrs-full_InvestmentsInAssociates" xlink:type="locator"/>
    <label id="id_13222622_2937484_1_1" xlink:label="ifrs-full_InvestmentsInAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in associates</label>
    <label id="id_13222622_2937484_2_1" xlink:label="ifrs-full_InvestmentsInAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in other entities</label>
    <label id="id_13222622_2937484_6_1" xlink:label="ifrs-full_InvestmentsInAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Heineken investment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInAssociates" xlink:to="ifrs-full_InvestmentsInAssociates_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InvestmentsInAssociatesAndJointVenturesMember" xlink:label="fmx_InvestmentsInAssociatesAndJointVenturesMember" xlink:type="locator"/>
    <label id="id_13222622_3009328_3_1" xlink:label="fmx_InvestmentsInAssociatesAndJointVenturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in Associates and Joint Ventures [Member]</label>
    <label id="id_13222622_3009328_1_1" xlink:label="fmx_InvestmentsInAssociatesAndJointVenturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Associates and Joint Ventures [Member]</label>
    <label id="id_13222622_3009328_2_1" xlink:label="fmx_InvestmentsInAssociatesAndJointVenturesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in associates and joint ventures [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InvestmentsInAssociatesAndJointVenturesMember" xlink:to="fmx_InvestmentsInAssociatesAndJointVenturesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments" xlink:label="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments" xlink:type="locator"/>
    <label id="id_13222622_2954429_3_1" xlink:label="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in associates excluding goodwill and other adjustments.</label>
    <label id="id_13222622_2954429_1_1" xlink:label="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In Associates Excluding Goodwill And Other Adjustments</label>
    <label id="id_13222622_2954429_2_1" xlink:label="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments exclusive of goodwill and others adjustments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments" xlink:to="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InvestmentsInFixedAssets" xlink:label="fmx_InvestmentsInFixedAssets" xlink:type="locator"/>
    <label id="id_13222622_2952418_3_1" xlink:label="fmx_InvestmentsInFixedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in fixed assets.</label>
    <label id="id_13222622_2952418_1_1" xlink:label="fmx_InvestmentsInFixedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments In Fixed Assets</label>
    <label id="id_13222622_2952418_2_1" xlink:label="fmx_InvestmentsInFixedAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in fixed assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InvestmentsInFixedAssets" xlink:to="fmx_InvestmentsInFixedAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InvestmentsInFixedAssetsInProgressMember" xlink:label="fmx_InvestmentsInFixedAssetsInProgressMember" xlink:type="locator"/>
    <label id="id_13222622_2990502_3_1" xlink:label="fmx_InvestmentsInFixedAssetsInProgressMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in fixed assets in progress.</label>
    <label id="id_13222622_2990502_1_1" xlink:label="fmx_InvestmentsInFixedAssetsInProgressMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Fixed Assets in Progress [member]</label>
    <label id="id_13222622_2990502_2_1" xlink:label="fmx_InvestmentsInFixedAssetsInProgressMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in Fixed Assets in Progress [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InvestmentsInFixedAssetsInProgressMember" xlink:to="fmx_InvestmentsInFixedAssetsInProgressMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_InvestmentsInSecurities" xlink:label="fmx_InvestmentsInSecurities" xlink:type="locator"/>
    <label id="id_13222622_2959340_3_1" xlink:label="fmx_InvestmentsInSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Investments in securities.</label>
    <label id="id_13222622_2959340_1_1" xlink:label="fmx_InvestmentsInSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in Securities</label>
    <label id="id_13222622_2959340_2_1" xlink:label="fmx_InvestmentsInSecurities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in securities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InvestmentsInSecurities" xlink:to="fmx_InvestmentsInSecurities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:type="locator"/>
    <label id="id_13222622_2937487_1_1" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in subsidiaries, joint ventures and associates</label>
    <label id="id_13222622_2937487_2_1" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in associates and joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938245_1_1" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments in subsidiaries, joint ventures and associates [abstract]</label>
    <label id="id_13222622_2938245_2_1" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in subsidiaries, joint ventures and associates [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract" xlink:to="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital" xlink:type="locator"/>
    <label id="id_13222622_2937488_1_1" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital</label>
    <label id="id_13222622_2937488_2_1" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital contribution</label>
    <label id="id_13222622_2937488_12_1" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Share capital or capital stock</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapital" xlink:to="ifrs-full_IssuedCapital_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <label id="id_13222622_2938717_1_1" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Issued capital [member]</label>
    <label id="id_13222622_2938717_2_1" xlink:label="ifrs-full_IssuedCapitalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital stock [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IssuedCapitalMember" xlink:to="ifrs-full_IssuedCapitalMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ItemsOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_13222622_2937797_1_1" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Items of contingent liabilities [axis]</label>
    <label id="id_13222622_2937797_2_1" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Items of contingent liabilities [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ItemsOfContingentLiabilitiesAxis" xlink:to="ifrs-full_ItemsOfContingentLiabilitiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ItemsOfContingentLiabilitiesMember" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesMember" xlink:type="locator"/>
    <label id="id_13222622_2938248_1_1" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Items of contingent liabilities [member]</label>
    <label id="id_13222622_2938248_2_1" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Items of contingent liabilities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ItemsOfContingentLiabilitiesMember" xlink:to="ifrs-full_ItemsOfContingentLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <label id="id_13222622_2938249_1_1" xlink:label="ifrs-full_JointVenturesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Joint ventures [axis]</label>
    <label id="id_13222622_2938249_2_1" xlink:label="ifrs-full_JointVenturesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint ventures [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_JointVenturesAxis" xlink:to="ifrs-full_JointVenturesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_JPMorganChaseCoMember" xlink:label="fmx_JPMorganChaseCoMember" xlink:type="locator"/>
    <label id="id_13222622_3051185_3_1" xlink:label="fmx_JPMorganChaseCoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">JP Morgan Chase &amp; Co.</label>
    <label id="id_13222622_3051185_1_1" xlink:label="fmx_JPMorganChaseCoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">JP Morgan Chase &amp; Co. [member]</label>
    <label id="id_13222622_3051185_2_1" xlink:label="fmx_JPMorganChaseCoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">JP Morgan Chase &amp; Co. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_JPMorganChaseCoMember" xlink:to="fmx_JPMorganChaseCoMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_JugosDelValleSAPIDeCVMember" xlink:label="fmx_JugosDelValleSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2983304_3_1" xlink:label="fmx_JugosDelValleSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Jugos del Valle, S.A.P.I. de C.V.</label>
    <label id="id_13222622_2983304_1_1" xlink:label="fmx_JugosDelValleSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Jugos del Valle, S.A.P.I. de C.V. [Member]</label>
    <label id="id_13222622_2983304_2_1" xlink:label="fmx_JugosDelValleSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Jugos del Valle, S.A.P.I. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_JugosDelValleSAPIDeCVMember" xlink:to="fmx_JugosDelValleSAPIDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_JuicesMember" xlink:label="fmx_JuicesMember" xlink:type="locator"/>
    <label id="id_13222622_2986979_3_1" xlink:label="fmx_JuicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Juices.</label>
    <label id="id_13222622_2986979_1_1" xlink:label="fmx_JuicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Juices [member]</label>
    <label id="id_13222622_2986979_2_1" xlink:label="fmx_JuicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Juices [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_JuicesMember" xlink:to="fmx_JuicesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:type="locator"/>
    <label id="id_13222622_2937799_1_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, post-employment benefits</label>
    <label id="id_13222622_2937799_2_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Postemployment benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:type="locator"/>
    <label id="id_13222622_2938719_1_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, share-based payment</label>
    <label id="id_13222622_2938719_2_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share based payments</label>
    <label id="id_13222622_2938719_12_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Share-based payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:to="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator"/>
    <label id="id_13222622_2938253_1_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, short-term employee benefits</label>
    <label id="id_13222622_2938253_2_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term employee benefits paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:type="locator"/>
    <label id="id_13222622_2938720_1_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Key management personnel compensation, termination benefits</label>
    <label id="id_13222622_2938720_2_1" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:to="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_KOFLMember" xlink:label="fmx_KOFLMember" xlink:type="locator"/>
    <label id="id_13222622_2987000_3_1" xlink:label="fmx_KOFLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KOFL.</label>
    <label id="id_13222622_2987000_1_1" xlink:label="fmx_KOFLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KOFL [Member]</label>
    <label id="id_13222622_2987000_2_1" xlink:label="fmx_KOFLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KOFL [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_KOFLMember" xlink:to="fmx_KOFLMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_KOFseriesLMember" xlink:label="fmx_KOFseriesLMember" xlink:type="locator"/>
    <label id="id_13222622_3044037_3_1" xlink:label="fmx_KOFseriesLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KOF series L.</label>
    <label id="id_13222622_3044037_1_1" xlink:label="fmx_KOFseriesLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KOF series L [member]</label>
    <label id="id_13222622_3044037_2_1" xlink:label="fmx_KOFseriesLMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KOF series L [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_KOFseriesLMember" xlink:to="fmx_KOFseriesLMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_KSPParticipacoesLTDAMember" xlink:label="fmx_KSPParticipacoesLTDAMember" xlink:type="locator"/>
    <label id="id_13222622_2983296_3_1" xlink:label="fmx_KSPParticipacoesLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">KSP Participacoes LTDA.</label>
    <label id="id_13222622_2983296_1_1" xlink:label="fmx_KSPParticipacoesLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">KSP Participacoes LTDA [Member]</label>
    <label id="id_13222622_2983296_2_1" xlink:label="fmx_KSPParticipacoesLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">KSP Participacoes LTDA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_KSPParticipacoesLTDAMember" xlink:to="fmx_KSPParticipacoesLTDAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LaborMember" xlink:label="fmx_LaborMember" xlink:type="locator"/>
    <label id="id_13222622_3001049_3_1" xlink:label="fmx_LaborMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Labor.</label>
    <label id="id_13222622_3001049_1_1" xlink:label="fmx_LaborMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Labor [Member]</label>
    <label id="id_13222622_3001049_2_1" xlink:label="fmx_LaborMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Labor [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaborMember" xlink:to="fmx_LaborMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LandMember" xlink:label="ifrs-full_LandMember" xlink:type="locator"/>
    <label id="id_13222622_2938722_1_1" xlink:label="ifrs-full_LandMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Land [member]</label>
    <label id="id_13222622_2938722_2_1" xlink:label="ifrs-full_LandMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Land [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LandMember" xlink:to="ifrs-full_LandMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember" xlink:label="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember" xlink:type="locator"/>
    <label id="id_13222622_3051243_3_1" xlink:label="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Later than eight years and not later than nine years [Member]</label>
    <label id="id_13222622_3051243_1_1" xlink:label="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than eight years and not later than nine years [Member]</label>
    <label id="id_13222622_3051243_2_1" xlink:label="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">8-9 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember" xlink:to="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:label="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2984024_3_1" xlink:label="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">This member stands for a time band of later than five years and not later than six years.</label>
    <label id="id_13222622_2984024_1_1" xlink:label="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than five years and not later than six years [Member]</label>
    <label id="id_13222622_2984024_2_1" xlink:label="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">5-6 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:to="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2937501_1_1" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than five years [member]</label>
    <label id="id_13222622_2937501_2_1" xlink:label="ifrs-full_LaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Later than 5 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFiveYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFourMonthsMember" xlink:label="ifrs-full_LaterThanFourMonthsMember" xlink:type="locator"/>
    <label id="id_13222622_2937502_1_1" xlink:label="ifrs-full_LaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than four months [member]</label>
    <label id="id_13222622_2937502_2_1" xlink:label="ifrs-full_LaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">120+ days [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourMonthsMember" xlink:to="ifrs-full_LaterThanFourMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2938256_1_1" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than four years and not later than five years [member]</label>
    <label id="id_13222622_2938256_2_1" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">4-5 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember" xlink:label="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember" xlink:type="locator"/>
    <label id="id_13222622_3051244_3_1" xlink:label="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Later than nine years and not later than ten years [Member]</label>
    <label id="id_13222622_3051244_1_1" xlink:label="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than nine years and not later than ten years [Member]</label>
    <label id="id_13222622_3051244_2_1" xlink:label="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">9-10 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember" xlink:to="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2937505_1_1" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than five years [member]</label>
    <label id="id_13222622_2937505_2_1" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1-5 years [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2938724_1_1" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year and not later than two years [member]</label>
    <label id="id_13222622_2938724_2_1" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1-2 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:to="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:type="locator"/>
    <label id="id_13222622_2938257_1_1" xlink:label="ifrs-full_LaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one year [member]</label>
    <label id="id_13222622_2938257_2_1" xlink:label="ifrs-full_LaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Later than one year [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneYearMember" xlink:to="ifrs-full_LaterThanOneYearMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:label="fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2992613_3_1" xlink:label="fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Later than six years and not later than seven years [Member]</label>
    <label id="id_13222622_2992613_1_1" xlink:label="fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than six years and not later than seven years [Member]</label>
    <label id="id_13222622_2992613_2_1" xlink:label="fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6-7 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember" xlink:to="fmx_LaterThanSixYearsAndNotLaterThanSevenYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember" xlink:label="fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember" xlink:type="locator"/>
    <label id="id_13222622_3051245_3_1" xlink:label="fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Later than ten years and not later than eleven years [Member]</label>
    <label id="id_13222622_3051245_1_1" xlink:label="fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than ten years and not later than eleven years [Member]</label>
    <label id="id_13222622_3051245_2_1" xlink:label="fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">10-11 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember" xlink:to="fmx_LaterThanTenYearsAndNotLaterThanElevenYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember" xlink:type="locator"/>
    <label id="id_13222622_2937802_1_1" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three months and not later than four months [member]</label>
    <label id="id_13222622_2937802_2_1" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">90-120 days [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember" xlink:to="ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2938261_1_1" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than three years and not later than four years [member]</label>
    <label id="id_13222622_2938261_2_1" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">3-4 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:to="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:type="locator"/>
    <label id="id_13222622_2937509_1_1" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two months and not later than three months [member]</label>
    <label id="id_13222622_2937509_2_1" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">60-90 days [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:to="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="locator"/>
    <label id="id_13222622_2937806_1_1" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than two years and not later than three years [member]</label>
    <label id="id_13222622_2937806_2_1" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2-3 years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:to="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LeaoAlimentosEBebidasLTDAMember" xlink:label="fmx_LeaoAlimentosEBebidasLTDAMember" xlink:type="locator"/>
    <label id="id_13222622_2983302_3_1" xlink:label="fmx_LeaoAlimentosEBebidasLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Leao Alimentos e Bebidas, LTDA.</label>
    <label id="id_13222622_2983302_1_1" xlink:label="fmx_LeaoAlimentosEBebidasLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leao Alimentos e Bebidas, LTDA [Member]</label>
    <label id="id_13222622_2983302_2_1" xlink:label="fmx_LeaoAlimentosEBebidasLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leao Alimentos e Bebidas, LTDA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LeaoAlimentosEBebidasLTDAMember" xlink:to="fmx_LeaoAlimentosEBebidasLTDAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LeaseholdImprovementsMember" xlink:label="ifrs-full_LeaseholdImprovementsMember" xlink:type="locator"/>
    <label id="id_13222622_2937808_1_1" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Leasehold improvements [member]</label>
    <label id="id_13222622_2937808_2_1" xlink:label="ifrs-full_LeaseholdImprovementsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Leasehold improvements [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseholdImprovementsMember" xlink:to="ifrs-full_LeaseholdImprovementsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LeaseLiabilitiesMember" xlink:label="ifrs-full_LeaseLiabilitiesMember" xlink:type="locator"/>
    <label id="id_13222622_2937510_1_1" xlink:label="ifrs-full_LeaseLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Lease liabilities [member]</label>
    <label id="id_13222622_2937510_2_1" xlink:label="ifrs-full_LeaseLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Lease liabilities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LeaseLiabilitiesMember" xlink:to="ifrs-full_LeaseLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <label id="id_13222622_2934769_1_1" xlink:label="dei_LegalEntityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</label>
    <label id="id_13222622_2934769_2_1" xlink:label="dei_LegalEntityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal Entity [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LegalEntityAxis" xlink:to="dei_LegalEntityAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LegalFeesAndOtherExpensesFromPastAcquisitions" xlink:label="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions" xlink:type="locator"/>
    <label id="id_13222622_2950775_3_1" xlink:label="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Legal fees and other expenses from past acquisitions.</label>
    <label id="id_13222622_2950775_1_1" xlink:label="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal Fees And Other Expenses From Past Acquisitions</label>
    <label id="id_13222622_2950775_2_1" xlink:label="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal fees and other expenses from past acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions" xlink:to="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LegalProceedingsProvisionMember" xlink:label="ifrs-full_LegalProceedingsProvisionMember" xlink:type="locator"/>
    <label id="id_13222622_2938263_1_1" xlink:label="ifrs-full_LegalProceedingsProvisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Legal proceedings provision [member]</label>
    <label id="id_13222622_2938263_2_1" xlink:label="ifrs-full_LegalProceedingsProvisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Legal [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LegalProceedingsProvisionMember" xlink:to="ifrs-full_LegalProceedingsProvisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="locator"/>
    <label id="id_13222622_2938736_1_1" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 1 of fair value hierarchy [member]</label>
    <label id="id_13222622_2938736_2_1" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 1 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level1OfFairValueHierarchyMember" xlink:to="ifrs-full_Level1OfFairValueHierarchyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="locator"/>
    <label id="id_13222622_2937811_1_1" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Level 2 of fair value hierarchy [member]</label>
    <label id="id_13222622_2937811_2_1" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Level 2 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Level2OfFairValueHierarchyMember" xlink:to="ifrs-full_Level2OfFairValueHierarchyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <label id="id_13222622_2937813_1_1" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Levels of fair value hierarchy [axis]</label>
    <label id="id_13222622_2937813_2_1" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Levels of fair value hierarchy [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:to="ifrs-full_LevelsOfFairValueHierarchyAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <label id="id_13222622_2937814_1_1" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities</label>
    <label id="id_13222622_2937814_32_1" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</label>
    <label id="id_13222622_2937814_2_1" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated fair value of borrowings</label>
    <label id="id_13222622_2937814_6_1" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</label>
    <label id="id_13222622_2937814_12_1" xlink:label="ifrs-full_Liabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Liabilities" xlink:to="ifrs-full_Liabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2937815_1_1" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [abstract]</label>
    <label id="id_13222622_2937815_2_1" xlink:label="ifrs-full_LiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesAbstract" xlink:to="ifrs-full_LiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:type="locator"/>
    <label id="id_13222622_2937513_1_1" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities arising from financing activities [axis]</label>
    <label id="id_13222622_2937513_2_1" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities arising from financing activities [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:to="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:type="locator"/>
    <label id="id_13222622_2938267_1_1" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities arising from financing activities [member]</label>
    <label id="id_13222622_2938267_2_1" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities arising from financing activities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:to="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesIncurred" xlink:label="ifrs-full_LiabilitiesIncurred" xlink:type="locator"/>
    <label id="id_13222622_2937515_1_1" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities incurred</label>
    <label id="id_13222622_2937515_2_1" xlink:label="ifrs-full_LiabilitiesIncurred_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Promissory notes issued for acquisition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesIncurred" xlink:to="ifrs-full_LiabilitiesIncurred_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <label id="id_13222622_2938272_1_1" xlink:label="ifrs-full_LiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities [member]</label>
    <label id="id_13222622_2938272_2_1" xlink:label="ifrs-full_LiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilitiesMember" xlink:to="ifrs-full_LiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="fmx_LiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2949186_3_1" xlink:label="fmx_LiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Liabilities recognised as of acquisition date.</label>
    <label id="id_13222622_2949186_1_1" xlink:label="fmx_LiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liabilities recognised as of acquisition date</label>
    <label id="id_13222622_2949186_14_1" xlink:label="fmx_LiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Total liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LiabilitiesRecognisedAsOfAcquisitionDate" xlink:to="fmx_LiabilitiesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="locator"/>
    <label id="id_13222622_2938740_1_1" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net defined benefit liability (asset)</label>
    <label id="id_13222622_2938740_4_1" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Amount accumulated in other comprehensive income as of the end of the period, net of tax</label>
    <label id="id_13222622_2938740_5_1" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Amount accumulated in other comprehensive income as of the beginning of the period, net of tax</label>
    <label id="id_13222622_2938740_2_1" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the Net Defined Benefit Liabilility (Assets)</label>
    <label id="id_13222622_2938740_6_1" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net defined benefit liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:to="ifrs-full_LiabilityAssetOfDefinedBenefitPlans_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LicencesAndFranchises" xlink:label="ifrs-full_LicencesAndFranchises" xlink:type="locator"/>
    <label id="id_13222622_2937822_1_1" xlink:label="ifrs-full_LicencesAndFranchises_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Licences and franchises</label>
    <label id="id_13222622_2937822_2_1" xlink:label="ifrs-full_LicencesAndFranchises_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Distribution rights</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LicencesAndFranchises" xlink:to="ifrs-full_LicencesAndFranchises_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset" xlink:label="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2949459_3_1" xlink:label="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Life annuities, net defined benefit liability (asset).</label>
    <label id="id_13222622_2949459_1_1" xlink:label="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Life annuities, net defined benefit liability (asset)</label>
    <label id="id_13222622_2949459_14_1" xlink:label="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Life annuities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset" xlink:to="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LiquidityRiskMember" xlink:label="ifrs-full_LiquidityRiskMember" xlink:type="locator"/>
    <label id="id_13222622_2938745_1_1" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Liquidity risk [member]</label>
    <label id="id_13222622_2938745_2_1" xlink:label="ifrs-full_LiquidityRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liquidity risk [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LiquidityRiskMember" xlink:to="ifrs-full_LiquidityRiskMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LitigationSettlementAmount1" xlink:label="fmx_LitigationSettlementAmount1" xlink:type="locator"/>
    <label id="id_13222622_2973171_3_1" xlink:label="fmx_LitigationSettlementAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Litigation settlement amount 1.</label>
    <label id="id_13222622_2973171_1_1" xlink:label="fmx_LitigationSettlementAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Litigation settlement amount 1</label>
    <label id="id_13222622_2973171_2_1" xlink:label="fmx_LitigationSettlementAmount1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Litigation amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LitigationSettlementAmount1" xlink:to="fmx_LitigationSettlementAmount1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LogisticServicesMember" xlink:label="fmx_LogisticServicesMember" xlink:type="locator"/>
    <label id="id_13222622_2990613_3_1" xlink:label="fmx_LogisticServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Logistic services.</label>
    <label id="id_13222622_2990613_1_1" xlink:label="fmx_LogisticServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Logistic Services [member]</label>
    <label id="id_13222622_2990613_2_1" xlink:label="fmx_LogisticServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Logistic services [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LogisticServicesMember" xlink:to="fmx_LogisticServicesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermAlcoholLicensesMember" xlink:label="fmx_LongTermAlcoholLicensesMember" xlink:type="locator"/>
    <label id="id_13222622_2990435_3_1" xlink:label="fmx_LongTermAlcoholLicensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term alcohol licenses.</label>
    <label id="id_13222622_2990435_1_1" xlink:label="fmx_LongTermAlcoholLicensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Alcohol Licenses [Member]</label>
    <label id="id_13222622_2990435_2_1" xlink:label="fmx_LongTermAlcoholLicensesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-term alcohol licenses [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermAlcoholLicensesMember" xlink:to="fmx_LongTermAlcoholLicensesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <label id="id_13222622_2938746_1_1" xlink:label="ifrs-full_LongtermBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current portion of non-current borrowings</label>
    <label id="id_13222622_2938746_2_1" xlink:label="ifrs-full_LongtermBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current portion of long-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LongtermBorrowings" xlink:to="ifrs-full_LongtermBorrowings_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsBankLoansMember" xlink:label="fmx_LongTermBorrowingsBankLoansMember" xlink:type="locator"/>
    <label id="id_13222622_2992601_3_1" xlink:label="fmx_LongTermBorrowingsBankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings bank loans.</label>
    <label id="id_13222622_2992601_1_1" xlink:label="fmx_LongTermBorrowingsBankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Borrowings Bank Loans [Member]</label>
    <label id="id_13222622_2992601_2_1" xlink:label="fmx_LongTermBorrowingsBankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank loans [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsBankLoansMember" xlink:to="fmx_LongTermBorrowingsBankLoansMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member" xlink:label="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member" xlink:type="locator"/>
    <label id="id_13222622_3043785_3_1" xlink:label="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings Bank of NY (FEMSA USD 2023).</label>
    <label id="id_13222622_3043785_1_1" xlink:label="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term borrowings Bank of NY (FEMSA USD 2023) [member]</label>
    <label id="id_13222622_3043785_2_1" xlink:label="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term borrowings Bank of NY (FEMSA USD 2023) [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member" xlink:to="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member" xlink:label="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member" xlink:type="locator"/>
    <label id="id_13222622_3044063_3_1" xlink:label="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings Bank of NY (FEMSA USD 2043).</label>
    <label id="id_13222622_3044063_1_1" xlink:label="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term borrowings Bank of NY (FEMSA USD 2043) [member]</label>
    <label id="id_13222622_3044063_2_1" xlink:label="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term borrowings Bank of NY (FEMSA USD 2043) [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member" xlink:to="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsDomesticSeniorNotesMember" xlink:label="fmx_LongTermBorrowingsDomesticSeniorNotesMember" xlink:type="locator"/>
    <label id="id_13222622_2992600_3_1" xlink:label="fmx_LongTermBorrowingsDomesticSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings domestic senior notes.</label>
    <label id="id_13222622_2992600_1_1" xlink:label="fmx_LongTermBorrowingsDomesticSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Borrowings Domestic Senior Notes [Member]</label>
    <label id="id_13222622_2992600_2_1" xlink:label="fmx_LongTermBorrowingsDomesticSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Domestic senior notes [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsDomesticSeniorNotesMember" xlink:to="fmx_LongTermBorrowingsDomesticSeniorNotesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsFinancialLeaseMember" xlink:label="fmx_LongTermBorrowingsFinancialLeaseMember" xlink:type="locator"/>
    <label id="id_13222622_2992598_3_1" xlink:label="fmx_LongTermBorrowingsFinancialLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings financial lease.</label>
    <label id="id_13222622_2992598_1_1" xlink:label="fmx_LongTermBorrowingsFinancialLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Borrowings Financial Lease [Member]</label>
    <label id="id_13222622_2992598_2_1" xlink:label="fmx_LongTermBorrowingsFinancialLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Finance leases [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsFinancialLeaseMember" xlink:to="fmx_LongTermBorrowingsFinancialLeaseMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsNotesPayableMember" xlink:label="fmx_LongTermBorrowingsNotesPayableMember" xlink:type="locator"/>
    <label id="id_13222622_2992542_3_1" xlink:label="fmx_LongTermBorrowingsNotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings notes payable.</label>
    <label id="id_13222622_2992542_1_1" xlink:label="fmx_LongTermBorrowingsNotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Borrowings Notes Payable [Member]</label>
    <label id="id_13222622_2992542_2_1" xlink:label="fmx_LongTermBorrowingsNotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes payable [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsNotesPayableMember" xlink:to="fmx_LongTermBorrowingsNotesPayableMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsSeniorUnsecuredNotesMember" xlink:label="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember" xlink:type="locator"/>
    <label id="id_13222622_2992596_3_1" xlink:label="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings senior unsecured notes.</label>
    <label id="id_13222622_2992596_1_1" xlink:label="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Borrowings Senior Unsecured Notes [Member]</label>
    <label id="id_13222622_2992596_2_1" xlink:label="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Senior unsecured notes [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember" xlink:to="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsUnitsOfInvestmentMember" xlink:label="fmx_LongTermBorrowingsUnitsOfInvestmentMember" xlink:type="locator"/>
    <label id="id_13222622_2992599_3_1" xlink:label="fmx_LongTermBorrowingsUnitsOfInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings units of investment.</label>
    <label id="id_13222622_2992599_1_1" xlink:label="fmx_LongTermBorrowingsUnitsOfInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Borrowings Units Of Investment [Member]</label>
    <label id="id_13222622_2992599_2_1" xlink:label="fmx_LongTermBorrowingsUnitsOfInvestmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units of investment (UDIs) [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsUnitsOfInvestmentMember" xlink:to="fmx_LongTermBorrowingsUnitsOfInvestmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermBorrowingsYankeeBondMember" xlink:label="fmx_LongTermBorrowingsYankeeBondMember" xlink:type="locator"/>
    <label id="id_13222622_3043783_3_1" xlink:label="fmx_LongTermBorrowingsYankeeBondMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings Yankee bond.</label>
    <label id="id_13222622_3043783_1_1" xlink:label="fmx_LongTermBorrowingsYankeeBondMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term borrowings Yankee bond [member]</label>
    <label id="id_13222622_3043783_2_1" xlink:label="fmx_LongTermBorrowingsYankeeBondMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term borrowings Yankee bond [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsYankeeBondMember" xlink:to="fmx_LongTermBorrowingsYankeeBondMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermForeignCurrencyFinancialAssets" xlink:label="fmx_LongTermForeignCurrencyFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2950640_3_1" xlink:label="fmx_LongTermForeignCurrencyFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term foreign currency financial assets.</label>
    <label id="id_13222622_2950640_1_1" xlink:label="fmx_LongTermForeignCurrencyFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Foreign Currency Financial Assets</label>
    <label id="id_13222622_2950640_2_1" xlink:label="fmx_LongTermForeignCurrencyFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermForeignCurrencyFinancialAssets" xlink:to="fmx_LongTermForeignCurrencyFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermForeignCurrencyFinancialLiabilities" xlink:label="fmx_LongTermForeignCurrencyFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2950638_3_1" xlink:label="fmx_LongTermForeignCurrencyFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term foreign currency financial liabilities.</label>
    <label id="id_13222622_2950638_1_1" xlink:label="fmx_LongTermForeignCurrencyFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Foreign Currency Financial Liabilities</label>
    <label id="id_13222622_2950638_2_1" xlink:label="fmx_LongTermForeignCurrencyFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long-Term Liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermForeignCurrencyFinancialLiabilities" xlink:to="fmx_LongTermForeignCurrencyFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LongTermPrepaidAdvertisingExpenses" xlink:label="fmx_LongTermPrepaidAdvertisingExpenses" xlink:type="locator"/>
    <label id="id_13222622_2954766_3_1" xlink:label="fmx_LongTermPrepaidAdvertisingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term prepaid advertising expenses.</label>
    <label id="id_13222622_2954766_1_1" xlink:label="fmx_LongTermPrepaidAdvertisingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long Term Prepaid Advertising Expenses</label>
    <label id="id_13222622_2954766_2_1" xlink:label="fmx_LongTermPrepaidAdvertisingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term prepaid advertising expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermPrepaidAdvertisingExpenses" xlink:to="fmx_LongTermPrepaidAdvertisingExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LossContingencyDamagesSoughtValue1" xlink:label="fmx_LossContingencyDamagesSoughtValue1" xlink:type="locator"/>
    <label id="id_13222622_2947272_3_1" xlink:label="fmx_LossContingencyDamagesSoughtValue1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loss contingency, damages sought, value.</label>
    <label id="id_13222622_2947272_1_1" xlink:label="fmx_LossContingencyDamagesSoughtValue1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss Contingency, Damages Sought, Value1</label>
    <label id="id_13222622_2947272_2_1" xlink:label="fmx_LossContingencyDamagesSoughtValue1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aggregate amount claimed against company</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LossContingencyDamagesSoughtValue1" xlink:to="fmx_LossContingencyDamagesSoughtValue1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LossesOnDisposalsOfOtherAssets" xlink:label="fmx_LossesOnDisposalsOfOtherAssets" xlink:type="locator"/>
    <label id="id_13222622_2950757_3_1" xlink:label="fmx_LossesOnDisposalsOfOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Losses on disposals of other assets.</label>
    <label id="id_13222622_2950757_1_1" xlink:label="fmx_LossesOnDisposalsOfOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Losses On Disposals Of Other Assets</label>
    <label id="id_13222622_2950757_2_1" xlink:label="fmx_LossesOnDisposalsOfOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on sale of other assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LossesOnDisposalsOfOtherAssets" xlink:to="fmx_LossesOnDisposalsOfOtherAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_LossOnSaleOfEquityFinancialAssets" xlink:label="fmx_LossOnSaleOfEquityFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_3043809_3_1" xlink:label="fmx_LossOnSaleOfEquityFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Loss on sale of equity financial assets.</label>
    <label id="id_13222622_3043809_1_1" xlink:label="fmx_LossOnSaleOfEquityFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Loss on sale of equity financial assets</label>
    <label id="id_13222622_3043809_2_1" xlink:label="fmx_LossOnSaleOfEquityFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss on sale of equity financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LossOnSaleOfEquityFinancialAssets" xlink:to="fmx_LossOnSaleOfEquityFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MachineryAndEquipment1Member" xlink:label="fmx_MachineryAndEquipment1Member" xlink:type="locator"/>
    <label id="id_13222622_2980737_3_1" xlink:label="fmx_MachineryAndEquipment1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Machinery and equipment.</label>
    <label id="id_13222622_2980737_1_1" xlink:label="fmx_MachineryAndEquipment1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Machinery And Equipment1 [Member]</label>
    <label id="id_13222622_2980737_2_1" xlink:label="fmx_MachineryAndEquipment1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Machinery and equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MachineryAndEquipment1Member" xlink:to="fmx_MachineryAndEquipment1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:type="locator"/>
    <label id="id_13222622_2937527_1_1" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major components of tax expense (income) [abstract]</label>
    <label id="id_13222622_2937527_2_1" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major components of tax expense (income) [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:to="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MarketRiskMember" xlink:label="ifrs-full_MarketRiskMember" xlink:type="locator"/>
    <label id="id_13222622_2937836_1_1" xlink:label="ifrs-full_MarketRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market risk [member]</label>
    <label id="id_13222622_2937836_2_1" xlink:label="ifrs-full_MarketRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market risk [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MarketRiskMember" xlink:to="ifrs-full_MarketRiskMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MarketValueGainLossOnFinancialInstruments" xlink:label="fmx_MarketValueGainLossOnFinancialInstruments" xlink:type="locator"/>
    <label id="id_13222622_3044129_3_1" xlink:label="fmx_MarketValueGainLossOnFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Market value gain (loss) on financial instruments.</label>
    <label id="id_13222622_3044129_1_1" xlink:label="fmx_MarketValueGainLossOnFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Market Value Gain Loss On Financial Instruments</label>
    <label id="id_13222622_3044129_2_1" xlink:label="fmx_MarketValueGainLossOnFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market value (loss) gain on financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MarketValueGainLossOnFinancialInstruments" xlink:to="fmx_MarketValueGainLossOnFinancialInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MaterialReconcilingItemsMember" xlink:label="ifrs-full_MaterialReconcilingItemsMember" xlink:type="locator"/>
    <label id="id_13222622_2938758_1_1" xlink:label="ifrs-full_MaterialReconcilingItemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Material reconciling items [member]</label>
    <label id="id_13222622_2938758_2_1" xlink:label="ifrs-full_MaterialReconcilingItemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidation adjustments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaterialReconcilingItemsMember" xlink:to="ifrs-full_MaterialReconcilingItemsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MatoGrossoDoSulMember" xlink:label="fmx_MatoGrossoDoSulMember" xlink:type="locator"/>
    <label id="id_13222622_3008672_3_1" xlink:label="fmx_MatoGrossoDoSulMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mato Grosso do Sul.</label>
    <label id="id_13222622_3008672_1_1" xlink:label="fmx_MatoGrossoDoSulMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mato Grosso do Sul [member]</label>
    <label id="id_13222622_3008672_2_1" xlink:label="fmx_MatoGrossoDoSulMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mato Grosso do Sul [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MatoGrossoDoSulMember" xlink:to="fmx_MatoGrossoDoSulMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <label id="id_13222622_2938284_1_1" xlink:label="ifrs-full_MaturityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maturity [axis]</label>
    <label id="id_13222622_2938284_2_1" xlink:label="ifrs-full_MaturityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MaturityAxis" xlink:to="ifrs-full_MaturityAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MaximumPercentageForVoting" xlink:label="fmx_MaximumPercentageForVoting" xlink:type="locator"/>
    <label id="id_13222622_3022846_3_1" xlink:label="fmx_MaximumPercentageForVoting_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum percentage for voting.</label>
    <label id="id_13222622_3022846_1_1" xlink:label="fmx_MaximumPercentageForVoting_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Percentage For Voting</label>
    <label id="id_13222622_3022846_2_1" xlink:label="fmx_MaximumPercentageForVoting_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum percentage for voting right</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MaximumPercentageForVoting" xlink:to="fmx_MaximumPercentageForVoting_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MaximumReserveForSharePurchase" xlink:label="fmx_MaximumReserveForSharePurchase" xlink:type="locator"/>
    <label id="id_13222622_2963655_3_1" xlink:label="fmx_MaximumReserveForSharePurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum reserve for share purchase.</label>
    <label id="id_13222622_2963655_1_1" xlink:label="fmx_MaximumReserveForSharePurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Reserve For Share Purchase</label>
    <label id="id_13222622_2963655_2_1" xlink:label="fmx_MaximumReserveForSharePurchase_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum reserve for share purchase</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MaximumReserveForSharePurchase" xlink:to="fmx_MaximumReserveForSharePurchase_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MaximumWagesOrServiceForService" xlink:label="fmx_MaximumWagesOrServiceForService" xlink:type="locator"/>
    <label id="id_13222622_2977297_3_1" xlink:label="fmx_MaximumWagesOrServiceForService_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum wages or service for service.</label>
    <label id="id_13222622_2977297_1_1" xlink:label="fmx_MaximumWagesOrServiceForService_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Wages Or Service For Service</label>
    <label id="id_13222622_2977297_2_1" xlink:label="fmx_MaximumWagesOrServiceForService_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maximum wages or salary for service</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MaximumWagesOrServiceForService" xlink:to="fmx_MaximumWagesOrServiceForService_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MaxiumAmountOfTradingForTaxDeduction" xlink:label="fmx_MaxiumAmountOfTradingForTaxDeduction" xlink:type="locator"/>
    <label id="id_13222622_3051183_3_1" xlink:label="fmx_MaxiumAmountOfTradingForTaxDeduction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maxium amount of trading for tax deduction.</label>
    <label id="id_13222622_3051183_1_1" xlink:label="fmx_MaxiumAmountOfTradingForTaxDeduction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maxium amount of trading for tax deduction</label>
    <label id="id_13222622_3051183_2_1" xlink:label="fmx_MaxiumAmountOfTradingForTaxDeduction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maxium amount of trading to get the capital gain tax reduction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MaxiumAmountOfTradingForTaxDeduction" xlink:to="fmx_MaxiumAmountOfTradingForTaxDeduction_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MeasurementAxis" xlink:label="ifrs-full_MeasurementAxis" xlink:type="locator"/>
    <label id="id_13222622_2937840_1_1" xlink:label="ifrs-full_MeasurementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Measurement [axis]</label>
    <label id="id_13222622_2937840_2_1" xlink:label="ifrs-full_MeasurementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Measurement [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MeasurementAxis" xlink:to="ifrs-full_MeasurementAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Merchandise" xlink:label="ifrs-full_Merchandise" xlink:type="locator"/>
    <label id="id_13222622_2938763_1_1" xlink:label="ifrs-full_Merchandise_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current merchandise</label>
    <label id="id_13222622_2938763_2_1" xlink:label="ifrs-full_Merchandise_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Inventories in transit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Merchandise" xlink:to="ifrs-full_Merchandise_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MexicanFederalGovernmentInstrumentsMember" xlink:label="fmx_MexicanFederalGovernmentInstrumentsMember" xlink:type="locator"/>
    <label id="id_13222622_2984035_3_1" xlink:label="fmx_MexicanFederalGovernmentInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mexican Federal Government instruments.</label>
    <label id="id_13222622_2984035_1_1" xlink:label="fmx_MexicanFederalGovernmentInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mexican Federal Government Instruments [member]</label>
    <label id="id_13222622_2984035_2_1" xlink:label="fmx_MexicanFederalGovernmentInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mexican Federal Government instruments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MexicanFederalGovernmentInstrumentsMember" xlink:to="fmx_MexicanFederalGovernmentInstrumentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MexicanPesosMember" xlink:label="fmx_MexicanPesosMember" xlink:type="locator"/>
    <label id="id_13222622_2990864_3_1" xlink:label="fmx_MexicanPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mexican pesos.</label>
    <label id="id_13222622_2990864_1_1" xlink:label="fmx_MexicanPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mexican pesos [Member]</label>
    <label id="id_13222622_2990864_2_1" xlink:label="fmx_MexicanPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mexican pesos [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MexicanPesosMember" xlink:to="fmx_MexicanPesosMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MexicoAndCentralAmericaMember" xlink:label="fmx_MexicoAndCentralAmericaMember" xlink:type="locator"/>
    <label id="id_13222622_2987978_3_1" xlink:label="fmx_MexicoAndCentralAmericaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Mexico and central america.</label>
    <label id="id_13222622_2987978_1_1" xlink:label="fmx_MexicoAndCentralAmericaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mexico And Central America [Member]</label>
    <label id="id_13222622_2987978_2_1" xlink:label="fmx_MexicoAndCentralAmericaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mexico and Central America [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MexicoAndCentralAmericaMember" xlink:to="fmx_MexicoAndCentralAmericaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinasGeraisMember" xlink:label="fmx_MinasGeraisMember" xlink:type="locator"/>
    <label id="id_13222622_3008674_3_1" xlink:label="fmx_MinasGeraisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minas Gerais.</label>
    <label id="id_13222622_3008674_1_1" xlink:label="fmx_MinasGeraisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minas Gerais [member]</label>
    <label id="id_13222622_3008674_2_1" xlink:label="fmx_MinasGeraisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minas Gerais [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinasGeraisMember" xlink:to="fmx_MinasGeraisMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinimumAgeForRetirementBenefits" xlink:label="fmx_MinimumAgeForRetirementBenefits" xlink:type="locator"/>
    <label id="id_13222622_2976651_3_1" xlink:label="fmx_MinimumAgeForRetirementBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum age for retirement benefits.</label>
    <label id="id_13222622_2976651_1_1" xlink:label="fmx_MinimumAgeForRetirementBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Age For Retirement Benefits</label>
    <label id="id_13222622_2976651_2_1" xlink:label="fmx_MinimumAgeForRetirementBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum age for retirement benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumAgeForRetirementBenefits" xlink:to="fmx_MinimumAgeForRetirementBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax" xlink:label="fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax" xlink:type="locator"/>
    <label id="id_13222622_3051186_3_1" xlink:label="fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum amount of trading value that impose ten percentage tax.</label>
    <label id="id_13222622_3051186_1_1" xlink:label="fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum amount of trading value that impose ten percentage tax</label>
    <label id="id_13222622_3051186_2_1" xlink:label="fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum amount of trading value that impose ten percentage tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax" xlink:to="fmx_MinimumAmountOfTradingValueThatImposeTenPercentageTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:type="locator"/>
    <label id="id_13222622_2938768_1_1" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum finance lease payments payable</label>
    <label id="id_13222622_2938768_2_1" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:to="ifrs-full_MinimumFinanceLeasePaymentsPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue" xlink:type="locator"/>
    <label id="id_13222622_2937542_1_1" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum finance lease payments payable, at present value</label>
    <label id="id_13222622_2937542_2_1" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Present value of minimum lease payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue" xlink:to="ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinimumPaymentsMember" xlink:label="fmx_MinimumPaymentsMember" xlink:type="locator"/>
    <label id="id_13222622_3000948_3_1" xlink:label="fmx_MinimumPaymentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum payments.</label>
    <label id="id_13222622_3000948_1_1" xlink:label="fmx_MinimumPaymentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Payments [Member]</label>
    <label id="id_13222622_3000948_2_1" xlink:label="fmx_MinimumPaymentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum Payments [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumPaymentsMember" xlink:to="fmx_MinimumPaymentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinimumPercentageForVoting" xlink:label="fmx_MinimumPercentageForVoting" xlink:type="locator"/>
    <label id="id_13222622_3022847_3_1" xlink:label="fmx_MinimumPercentageForVoting_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum percentage for voting.</label>
    <label id="id_13222622_3022847_1_1" xlink:label="fmx_MinimumPercentageForVoting_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Percentage For Voting</label>
    <label id="id_13222622_3022847_2_1" xlink:label="fmx_MinimumPercentageForVoting_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum percentage for voting</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumPercentageForVoting" xlink:to="fmx_MinimumPercentageForVoting_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinimumWagesOrServiceForService" xlink:label="fmx_MinimumWagesOrServiceForService" xlink:type="locator"/>
    <label id="id_13222622_2977296_3_1" xlink:label="fmx_MinimumWagesOrServiceForService_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum wages or service for service.</label>
    <label id="id_13222622_2977296_1_1" xlink:label="fmx_MinimumWagesOrServiceForService_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Wages Or Service For Service</label>
    <label id="id_13222622_2977296_2_1" xlink:label="fmx_MinimumWagesOrServiceForService_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum wages or salary for service</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumWagesOrServiceForService" xlink:to="fmx_MinimumWagesOrServiceForService_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_MinimumYearOfServiceForRetirementBenefits" xlink:label="fmx_MinimumYearOfServiceForRetirementBenefits" xlink:type="locator"/>
    <label id="id_13222622_2945330_3_1" xlink:label="fmx_MinimumYearOfServiceForRetirementBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum year of service for retirement benefits.</label>
    <label id="id_13222622_2945330_1_1" xlink:label="fmx_MinimumYearOfServiceForRetirementBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum Year Of Service For Retirement Benefits</label>
    <label id="id_13222622_2945330_2_1" xlink:label="fmx_MinimumYearOfServiceForRetirementBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum year of service for retirement benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumYearOfServiceForRetirementBenefits" xlink:to="fmx_MinimumYearOfServiceForRetirementBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MiscellaneousAssetsAbstract" xlink:label="ifrs-full_MiscellaneousAssetsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2937547_1_1" xlink:label="ifrs-full_MiscellaneousAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous assets [abstract]</label>
    <label id="id_13222622_2937547_2_1" xlink:label="ifrs-full_MiscellaneousAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Miscellaneous assets [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousAssetsAbstract" xlink:to="ifrs-full_MiscellaneousAssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MiscellaneousOtherOperatingExpense" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense" xlink:type="locator"/>
    <label id="id_13222622_2937848_1_1" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous other operating expense</label>
    <label id="id_13222622_2937848_2_1" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherOperatingExpense" xlink:to="ifrs-full_MiscellaneousOtherOperatingExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_MiscellaneousOtherOperatingIncome" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="locator"/>
    <label id="id_13222622_2937549_1_1" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Miscellaneous other operating income</label>
    <label id="id_13222622_2937549_2_1" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:to="ifrs-full_MiscellaneousOtherOperatingIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_MX" xlink:label="country_MX" xlink:type="locator"/>
    <label id="id_13222622_2934649_1_1" xlink:label="country_MX_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MEXICO</label>
    <label id="id_13222622_2934649_2_1" xlink:label="country_MX_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mexico [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_MX" xlink:to="country_MX_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_MXN" xlink:label="currency_MXN" xlink:type="locator"/>
    <label id="id_13222622_2933229_1_1" xlink:label="currency_MXN_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Mexico, Pesos</label>
    <label id="id_13222622_2933229_2_1" xlink:label="currency_MXN_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mexican peso [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_MXN" xlink:to="currency_MXN_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NameOfAcquiree" xlink:label="ifrs-full_NameOfAcquiree" xlink:type="locator"/>
    <label id="id_13222622_2937850_1_1" xlink:label="ifrs-full_NameOfAcquiree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of acquiree</label>
    <label id="id_13222622_2937850_2_1" xlink:label="ifrs-full_NameOfAcquiree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Name of acquire</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfAcquiree" xlink:to="ifrs-full_NameOfAcquiree_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NameOfAssociate" xlink:label="ifrs-full_NameOfAssociate" xlink:type="locator"/>
    <label id="id_13222622_2937554_1_1" xlink:label="ifrs-full_NameOfAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of associate</label>
    <label id="id_13222622_2937554_2_1" xlink:label="ifrs-full_NameOfAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfAssociate" xlink:to="ifrs-full_NameOfAssociate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NameOfJointVenture" xlink:label="ifrs-full_NameOfJointVenture" xlink:type="locator"/>
    <label id="id_13222622_2938779_1_1" xlink:label="ifrs-full_NameOfJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of joint venture</label>
    <label id="id_13222622_2938779_2_1" xlink:label="ifrs-full_NameOfJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfJointVenture" xlink:to="ifrs-full_NameOfJointVenture_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NationalWholesalePriceIndexMember" xlink:label="fmx_NationalWholesalePriceIndexMember" xlink:type="locator"/>
    <label id="id_13222622_2984142_3_1" xlink:label="fmx_NationalWholesalePriceIndexMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">National wholesale price index.</label>
    <label id="id_13222622_2984142_1_1" xlink:label="fmx_NationalWholesalePriceIndexMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">National Wholesale Price Index [Member]</label>
    <label id="id_13222622_2984142_2_1" xlink:label="fmx_NationalWholesalePriceIndexMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">WPI [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NationalWholesalePriceIndexMember" xlink:to="fmx_NationalWholesalePriceIndexMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <label id="id_13222622_3051367_3_1" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in consolidated statements of accumulated other comprehensive income.</label>
    <label id="id_13222622_3051367_1_1" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in consolidated statements of accumulated other comprehensive income [member]</label>
    <label id="id_13222622_3051367_2_1" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in consolidated statements of accumulated other comprehensive income [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember" xlink:to="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <label id="id_13222622_2984102_3_1" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in consolidated statements of other comprehensive income.</label>
    <label id="id_13222622_2984102_1_1" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in Consolidated Statements of other comprehensive Income [Member]</label>
    <label id="id_13222622_2984102_2_1" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in consolidated statements of other comprehensive income [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember" xlink:to="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:label="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:type="locator"/>
    <label id="id_13222622_2998162_3_1" xlink:label="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in the consolidated statements of income.</label>
    <label id="id_13222622_2998162_1_1" xlink:label="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in the Consolidated Statements of Income [Member]</label>
    <label id="id_13222622_2998162_2_1" xlink:label="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net benefit cost recognized in the consolidated statements of income [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:to="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember" xlink:label="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986890_3_1" xlink:label="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net cash in foreign currency of Euro against USD.</label>
    <label id="id_13222622_2986890_1_1" xlink:label="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash In Foreign Currency Of Euro Against USD [member]</label>
    <label id="id_13222622_2986890_2_1" xlink:label="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Cash in Foreign Currency of Euro Against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember" xlink:to="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetCashInForeignCurrencyOfUSDMember" xlink:label="fmx_NetCashInForeignCurrencyOfUSDMember" xlink:type="locator"/>
    <label id="id_13222622_2986891_3_1" xlink:label="fmx_NetCashInForeignCurrencyOfUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net cash in foreign currency of USD.</label>
    <label id="id_13222622_2986891_1_1" xlink:label="fmx_NetCashInForeignCurrencyOfUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash In Foreign Currency Of USD [member]</label>
    <label id="id_13222622_2986891_2_1" xlink:label="fmx_NetCashInForeignCurrencyOfUSDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Cash in Foreign Currency of USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetCashInForeignCurrencyOfUSDMember" xlink:to="fmx_NetCashInForeignCurrencyOfUSDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetCashOutflowFromDeconsolidation" xlink:label="fmx_NetCashOutflowFromDeconsolidation" xlink:type="locator"/>
    <label id="id_13222622_2950577_3_1" xlink:label="fmx_NetCashOutflowFromDeconsolidation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net Cash Outflow From Deconsolidation.</label>
    <label id="id_13222622_2950577_1_1" xlink:label="fmx_NetCashOutflowFromDeconsolidation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Cash Outflow From Deconsolidation</label>
    <label id="id_13222622_2950577_2_1" xlink:label="fmx_NetCashOutflowFromDeconsolidation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Deconsolidation in Coca-Cola FEMSA Venezuela</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetCashOutflowFromDeconsolidation" xlink:to="fmx_NetCashOutflowFromDeconsolidation_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:type="locator"/>
    <label id="id_13222622_2937857_1_1" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net defined benefit liability (asset) [axis]</label>
    <label id="id_13222622_2937857_2_1" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net defined benefit liability (asset) [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:to="ifrs-full_NetDefinedBenefitLiabilityAssetAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:type="locator"/>
    <label id="id_13222622_2937562_1_1" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net defined benefit liability (asset) [member]</label>
    <label id="id_13222622_2937562_2_1" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net defined benefit liability (asset) [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:to="ifrs-full_NetDefinedBenefitLiabilityAssetMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetForeignExchangeGain" xlink:label="ifrs-full_NetForeignExchangeGain" xlink:type="locator"/>
    <label id="id_13222622_2937566_1_1" xlink:label="ifrs-full_NetForeignExchangeGain_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net foreign exchange gain</label>
    <label id="id_13222622_2937566_2_1" xlink:label="ifrs-full_NetForeignExchangeGain_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange gain</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetForeignExchangeGain" xlink:to="ifrs-full_NetForeignExchangeGain_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NetForeignExchangeLoss" xlink:label="ifrs-full_NetForeignExchangeLoss" xlink:type="locator"/>
    <label id="id_13222622_2937859_1_1" xlink:label="ifrs-full_NetForeignExchangeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net foreign exchange loss</label>
    <label id="id_13222622_2937859_2_1" xlink:label="ifrs-full_NetForeignExchangeLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange losses related to operating activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NetForeignExchangeLoss" xlink:to="ifrs-full_NetForeignExchangeLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetIncomeOfNonControllingInterest" xlink:label="fmx_NetIncomeOfNonControllingInterest" xlink:type="locator"/>
    <label id="id_13222622_2950889_3_1" xlink:label="fmx_NetIncomeOfNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net income of non controlling interest.</label>
    <label id="id_13222622_2950889_1_1" xlink:label="fmx_NetIncomeOfNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net Income Of Non Controlling Interest</label>
    <label id="id_13222622_2950889_2_1" xlink:label="fmx_NetIncomeOfNonControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income of non controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetIncomeOfNonControllingInterest" xlink:to="fmx_NetIncomeOfNonControllingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetOperatingLossUsageLimit" xlink:label="fmx_NetOperatingLossUsageLimit" xlink:type="locator"/>
    <label id="id_13222622_3022931_3_1" xlink:label="fmx_NetOperatingLossUsageLimit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net operating loss usage limit.</label>
    <label id="id_13222622_3022931_1_1" xlink:label="fmx_NetOperatingLossUsageLimit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net operating loss usage limit</label>
    <label id="id_13222622_3022931_2_1" xlink:label="fmx_NetOperatingLossUsageLimit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NOLs usage limit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetOperatingLossUsageLimit" xlink:to="fmx_NetOperatingLossUsageLimit_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NetTaxableIncomeDenominatedBalance" xlink:label="fmx_NetTaxableIncomeDenominatedBalance" xlink:type="locator"/>
    <label id="id_13222622_2960470_3_1" xlink:label="fmx_NetTaxableIncomeDenominatedBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net taxbalbe income, denominated "Cuenta de utilidad Fiscal Neta" (CUFIN") balance.</label>
    <label id="id_13222622_2960470_1_1" xlink:label="fmx_NetTaxableIncomeDenominatedBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net taxable income denominated balance</label>
    <label id="id_13222622_2960470_2_1" xlink:label="fmx_NetTaxableIncomeDenominatedBalance_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total CUFIN balance amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetTaxableIncomeDenominatedBalance" xlink:to="fmx_NetTaxableIncomeDenominatedBalance_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_NI" xlink:label="country_NI" xlink:type="locator"/>
    <label id="id_13222622_2933474_1_1" xlink:label="country_NI_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">NICARAGUA</label>
    <label id="id_13222622_2933474_2_1" xlink:label="country_NI_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nicaragua [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_NI" xlink:to="country_NI_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_NIO" xlink:label="currency_NIO" xlink:type="locator"/>
    <label id="id_13222622_2934187_1_1" xlink:label="currency_NIO_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Nicaragua, Cordobas</label>
    <label id="id_13222622_2934187_2_1" xlink:label="currency_NIO_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Nicaragua, Cordoba [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_NIO" xlink:to="currency_NIO_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <label id="id_13222622_2938793_1_1" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</label>
    <label id="id_13222622_2938793_2_1" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:to="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <label id="id_13222622_2938938_1_1" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-adjusting events after reporting period [member]</label>
    <label id="id_13222622_2938938_2_1" xlink:label="ifrs-full_NonadjustingEventsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-adjusting Events After Reporting Period [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NonadjustingEventsMember" xlink:to="ifrs-full_NonadjustingEventsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2937570_1_1" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interest in acquiree recognised at acquisition date</label>
    <label id="id_13222622_2937570_2_1" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:to="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2938794_1_1" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interests</label>
    <label id="id_13222622_2938794_4_1" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of the year</label>
    <label id="id_13222622_2938794_5_1" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of the year</label>
    <label id="id_13222622_2938794_2_1" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non controlling interest</label>
    <label id="id_13222622_2938794_12_1" xlink:label="ifrs-full_NoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interests</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterests" xlink:to="ifrs-full_NoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:type="locator"/>
    <label id="id_13222622_2937571_1_1" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-controlling interests [member]</label>
    <label id="id_13222622_2937571_2_1" xlink:label="ifrs-full_NoncontrollingInterestsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncontrollingInterestsMember" xlink:to="ifrs-full_NoncontrollingInterestsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NonCumulativePremiumMember" xlink:label="fmx_NonCumulativePremiumMember" xlink:type="locator"/>
    <label id="id_13222622_2986821_3_1" xlink:label="fmx_NonCumulativePremiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non cumulative premium.</label>
    <label id="id_13222622_2986821_1_1" xlink:label="fmx_NonCumulativePremiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Cumulative Premium [member]</label>
    <label id="id_13222622_2986821_2_1" xlink:label="fmx_NonCumulativePremiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non cumulative premium [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NonCumulativePremiumMember" xlink:to="fmx_NonCumulativePremiumMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2937572_1_1" xlink:label="ifrs-full_NoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets</label>
    <label id="id_13222622_2937572_2_1" xlink:label="ifrs-full_NoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total non-currentassets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:label="ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:type="locator"/>
    <label id="id_13222622_2937575_1_1" xlink:label="ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets other than financial instruments, deferred tax assets, post-employment benefit assets, and rights arising under insurance contracts</label>
    <label id="id_13222622_2937575_2_1" xlink:label="ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total Non Current Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:to="ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2938798_1_1" xlink:label="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets recognised as of acquisition date</label>
    <label id="id_13222622_2938798_2_1" xlink:label="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total non-current assets</label>
    <label id="id_13222622_2938798_12_1" xlink:label="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total non-currentassets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2938942_1_1" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current derivative financial assets</label>
    <label id="id_13222622_2938942_2_1" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instrument (non-current asset)</label>
    <label id="id_13222622_2938942_12_1" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments (see Note 20)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:to="ifrs-full_NoncurrentDerivativeFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2938801_1_1" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current derivative financial liabilities</label>
    <label id="id_13222622_2938801_2_1" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instrument (non-current liability)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:to="ifrs-full_NoncurrentDerivativeFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2938952_1_1" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current liabilities</label>
    <label id="id_13222622_2938952_2_1" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total non-currentliabilities</label>
    <label id="id_13222622_2938952_6_1" xlink:label="ifrs-full_NoncurrentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total non-current liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilities" xlink:to="ifrs-full_NoncurrentLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NonCurrentPortionOfBankLoansAndNotesPayable" xlink:label="fmx_NonCurrentPortionOfBankLoansAndNotesPayable" xlink:type="locator"/>
    <label id="id_13222622_2960013_3_1" xlink:label="fmx_NonCurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non-current portion of bank loans and notes payable.</label>
    <label id="id_13222622_2960013_1_1" xlink:label="fmx_NonCurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Current Portion of Bank Loans and Notes Payable</label>
    <label id="id_13222622_2960013_2_1" xlink:label="fmx_NonCurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Bank loans and notes payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NonCurrentPortionOfBankLoansAndNotesPayable" xlink:to="fmx_NonCurrentPortionOfBankLoansAndNotesPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentPrepayments" xlink:label="ifrs-full_NoncurrentPrepayments" xlink:type="locator"/>
    <label id="id_13222622_2938813_1_1" xlink:label="ifrs-full_NoncurrentPrepayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current prepayments</label>
    <label id="id_13222622_2938813_2_1" xlink:label="ifrs-full_NoncurrentPrepayments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid bonuses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentPrepayments" xlink:to="ifrs-full_NoncurrentPrepayments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentProvisions" xlink:label="ifrs-full_NoncurrentProvisions" xlink:type="locator"/>
    <label id="id_13222622_2938959_1_1" xlink:label="ifrs-full_NoncurrentProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current provisions</label>
    <label id="id_13222622_2938959_2_1" xlink:label="ifrs-full_NoncurrentProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions and other long-term liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisions" xlink:to="ifrs-full_NoncurrentProvisions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:type="locator"/>
    <label id="id_13222622_2937589_1_1" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current provisions for employee benefits</label>
    <label id="id_13222622_2937589_2_1" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Employee benefits</label>
    <label id="id_13222622_2937589_12_1" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total employee benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:to="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" xlink:type="locator"/>
    <label id="id_13222622_2937590_1_1" xlink:label="ifrs-full_NoncurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other non-current receivables</label>
    <label id="id_13222622_2937590_2_1" xlink:label="ifrs-full_NoncurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term accounts receivables</label>
    <label id="id_13222622_2937590_12_1" xlink:label="ifrs-full_NoncurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-current accounts receivable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentReceivables" xlink:to="ifrs-full_NoncurrentReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NonderivativeFinancialLiabilitiesMember" xlink:label="fmx_NonderivativeFinancialLiabilitiesMember" xlink:type="locator"/>
    <label id="id_13222622_3005135_3_1" xlink:label="fmx_NonderivativeFinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Nonderivative financial liabilities.</label>
    <label id="id_13222622_3005135_1_1" xlink:label="fmx_NonderivativeFinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-derivative Financial Liabilities [Member]</label>
    <label id="id_13222622_3005135_2_1" xlink:label="fmx_NonderivativeFinancialLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-derivative Financial Liabilities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NonderivativeFinancialLiabilitiesMember" xlink:to="fmx_NonderivativeFinancialLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NonOperatingIncomeExpense1" xlink:label="fmx_NonOperatingIncomeExpense1" xlink:type="locator"/>
    <label id="id_13222622_2962147_3_1" xlink:label="fmx_NonOperatingIncomeExpense1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Non Operating Income Expense1</label>
    <label id="id_13222622_2962147_1_1" xlink:label="fmx_NonOperatingIncomeExpense1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non Operating Income Expense1</label>
    <label id="id_13222622_2962147_2_1" xlink:label="fmx_NonOperatingIncomeExpense1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net amount in consolidated income statements</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NonOperatingIncomeExpense1" xlink:to="fmx_NonOperatingIncomeExpense1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NormalRetirementAge" xlink:label="fmx_NormalRetirementAge" xlink:type="locator"/>
    <label id="id_13222622_2977558_3_1" xlink:label="fmx_NormalRetirementAge_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Normal retirement age.</label>
    <label id="id_13222622_2977558_1_1" xlink:label="fmx_NormalRetirementAge_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Normal Retirement Age</label>
    <label id="id_13222622_2977558_2_1" xlink:label="fmx_NormalRetirementAge_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Normal retirement age</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NormalRetirementAge" xlink:to="fmx_NormalRetirementAge_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NotesPayableMember" xlink:label="fmx_NotesPayableMember" xlink:type="locator"/>
    <label id="id_13222622_2997611_3_1" xlink:label="fmx_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Notes payable.</label>
    <label id="id_13222622_2997611_1_1" xlink:label="fmx_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notes payable [member]</label>
    <label id="id_13222622_2997611_2_1" xlink:label="fmx_NotesPayableMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Notes payable [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NotesPayableMember" xlink:to="fmx_NotesPayableMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount" xlink:type="locator"/>
    <label id="id_13222622_2938821_1_1" xlink:label="ifrs-full_NotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Notional amount</label>
    <label id="id_13222622_2938821_2_1" xlink:label="ifrs-full_NotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Face amount</label>
    <label id="id_13222622_2938821_12_1" xlink:label="ifrs-full_NotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Notional amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotionalAmount" xlink:to="ifrs-full_NotionalAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <label id="id_13222622_2938967_1_1" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than one year [member]</label>
    <label id="id_13222622_2938967_2_1" xlink:label="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Less than 1 year [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneYearMember" xlink:to="ifrs-full_NotLaterThanOneYearMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfAgreements" xlink:label="fmx_NumberOfAgreements" xlink:type="locator"/>
    <label id="id_13222622_2976731_3_1" xlink:label="fmx_NumberOfAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of agreements.</label>
    <label id="id_13222622_2976731_1_1" xlink:label="fmx_NumberOfAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Agreements</label>
    <label id="id_13222622_2976731_2_1" xlink:label="fmx_NumberOfAgreements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of bottler agreements</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfAgreements" xlink:to="fmx_NumberOfAgreements_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfBeautySupplyStores" xlink:label="fmx_NumberOfBeautySupplyStores" xlink:type="locator"/>
    <label id="id_13222622_2976991_3_1" xlink:label="fmx_NumberOfBeautySupplyStores_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of beauty supply stores.</label>
    <label id="id_13222622_2976991_1_1" xlink:label="fmx_NumberOfBeautySupplyStores_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Beauty Supply Stores</label>
    <label id="id_13222622_2976991_2_1" xlink:label="fmx_NumberOfBeautySupplyStores_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of beauty supply stores</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfBeautySupplyStores" xlink:to="fmx_NumberOfBeautySupplyStores_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfDistributionCenters" xlink:label="fmx_NumberOfDistributionCenters" xlink:type="locator"/>
    <label id="id_13222622_2976877_3_1" xlink:label="fmx_NumberOfDistributionCenters_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of distribution centers.</label>
    <label id="id_13222622_2976877_1_1" xlink:label="fmx_NumberOfDistributionCenters_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of distribution centers</label>
    <label id="id_13222622_2976877_2_1" xlink:label="fmx_NumberOfDistributionCenters_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of distribution center</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfDistributionCenters" xlink:to="fmx_NumberOfDistributionCenters_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfDrugStore" xlink:label="fmx_NumberOfDrugStore" xlink:type="locator"/>
    <label id="id_13222622_2976734_3_1" xlink:label="fmx_NumberOfDrugStore_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of drug store.</label>
    <label id="id_13222622_2976734_1_1" xlink:label="fmx_NumberOfDrugStore_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Drug Store</label>
    <label id="id_13222622_2976734_2_1" xlink:label="fmx_NumberOfDrugStore_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of drug store</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfDrugStore" xlink:to="fmx_NumberOfDrugStore_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfFreightUnit" xlink:label="fmx_NumberOfFreightUnit" xlink:type="locator"/>
    <label id="id_13222622_2976774_3_1" xlink:label="fmx_NumberOfFreightUnit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of freight unit.</label>
    <label id="id_13222622_2976774_1_1" xlink:label="fmx_NumberOfFreightUnit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Freight Unit</label>
    <label id="id_13222622_2976774_2_1" xlink:label="fmx_NumberOfFreightUnit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of freight unit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfFreightUnit" xlink:to="fmx_NumberOfFreightUnit_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfGasStations" xlink:label="fmx_NumberOfGasStations" xlink:type="locator"/>
    <label id="id_13222622_2976772_3_1" xlink:label="fmx_NumberOfGasStations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of gas stations.</label>
    <label id="id_13222622_2976772_1_1" xlink:label="fmx_NumberOfGasStations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Gas Stations</label>
    <label id="id_13222622_2976772_2_1" xlink:label="fmx_NumberOfGasStations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of gas stations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfGasStations" xlink:to="fmx_NumberOfGasStations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:label="ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:type="locator"/>
    <label id="id_13222622_2938824_1_1" xlink:label="ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of instruments or interests issued or issuable</label>
    <label id="id_13222622_2938824_2_1" xlink:label="ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Merger result in new issue</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:to="ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfOperativeCentre" xlink:label="fmx_NumberOfOperativeCentre" xlink:type="locator"/>
    <label id="id_13222622_2976773_3_1" xlink:label="fmx_NumberOfOperativeCentre_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of operative centre.</label>
    <label id="id_13222622_2976773_1_1" xlink:label="fmx_NumberOfOperativeCentre_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Operative Centre</label>
    <label id="id_13222622_2976773_2_1" xlink:label="fmx_NumberOfOperativeCentre_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of operative center</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfOperativeCentre" xlink:to="fmx_NumberOfOperativeCentre_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfOrdinarySharesOfAssociateSold" xlink:label="fmx_NumberOfOrdinarySharesOfAssociateSold" xlink:type="locator"/>
    <label id="id_13222622_2974746_3_1" xlink:label="fmx_NumberOfOrdinarySharesOfAssociateSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of ordinary shares of associate sold.</label>
    <label id="id_13222622_2974746_1_1" xlink:label="fmx_NumberOfOrdinarySharesOfAssociateSold_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Ordinary Shares Of Associate Sold</label>
    <label id="id_13222622_2974746_2_1" xlink:label="fmx_NumberOfOrdinarySharesOfAssociateSold_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares sold</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfOrdinarySharesOfAssociateSold" xlink:to="fmx_NumberOfOrdinarySharesOfAssociateSold_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfOutstandingShareOptions" xlink:label="ifrs-full_NumberOfOutstandingShareOptions" xlink:type="locator"/>
    <label id="id_13222622_2937602_1_1" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options outstanding in share-based payment arrangement</label>
    <label id="id_13222622_2937602_4_1" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2937602_5_1" xlink:label="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfOutstandingShareOptions" xlink:to="ifrs-full_NumberOfOutstandingShareOptions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfPharmacyStores" xlink:label="fmx_NumberOfPharmacyStores" xlink:type="locator"/>
    <label id="id_13222622_2976990_3_1" xlink:label="fmx_NumberOfPharmacyStores_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of pharmacy stores.</label>
    <label id="id_13222622_2976990_1_1" xlink:label="fmx_NumberOfPharmacyStores_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Pharmacy Stores</label>
    <label id="id_13222622_2976990_2_1" xlink:label="fmx_NumberOfPharmacyStores_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of pharmacy stores</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfPharmacyStores" xlink:to="fmx_NumberOfPharmacyStores_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfSeriesBSharesIssued" xlink:label="fmx_NumberOfSeriesBSharesIssued" xlink:type="locator"/>
    <label id="id_13222622_2974397_3_1" xlink:label="fmx_NumberOfSeriesBSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of series B shares issued.</label>
    <label id="id_13222622_2974397_1_1" xlink:label="fmx_NumberOfSeriesBSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Series B Shares Issued</label>
    <label id="id_13222622_2974397_2_1" xlink:label="fmx_NumberOfSeriesBSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series "B"</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSeriesBSharesIssued" xlink:to="fmx_NumberOfSeriesBSharesIssued_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfSeriesDBSharesIssued" xlink:label="fmx_NumberOfSeriesDBSharesIssued" xlink:type="locator"/>
    <label id="id_13222622_2974396_3_1" xlink:label="fmx_NumberOfSeriesDBSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of series D-B shares issued.</label>
    <label id="id_13222622_2974396_1_1" xlink:label="fmx_NumberOfSeriesDBSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Series D B Shares Issued</label>
    <label id="id_13222622_2974396_2_1" xlink:label="fmx_NumberOfSeriesDBSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subseries "D-B"</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSeriesDBSharesIssued" xlink:to="fmx_NumberOfSeriesDBSharesIssued_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfSeriesDLSharesIssued" xlink:label="fmx_NumberOfSeriesDLSharesIssued" xlink:type="locator"/>
    <label id="id_13222622_2974393_3_1" xlink:label="fmx_NumberOfSeriesDLSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of series D-L shares issued.</label>
    <label id="id_13222622_2974393_1_1" xlink:label="fmx_NumberOfSeriesDLSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Series D L Shares Issued</label>
    <label id="id_13222622_2974393_2_1" xlink:label="fmx_NumberOfSeriesDLSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subseries "D-L"</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSeriesDLSharesIssued" xlink:to="fmx_NumberOfSeriesDLSharesIssued_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfSeriesDSharesIssued" xlink:label="fmx_NumberOfSeriesDSharesIssued" xlink:type="locator"/>
    <label id="id_13222622_2974398_3_1" xlink:label="fmx_NumberOfSeriesDSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of series D shares issued.</label>
    <label id="id_13222622_2974398_1_1" xlink:label="fmx_NumberOfSeriesDSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Series D Shares Issued</label>
    <label id="id_13222622_2974398_2_1" xlink:label="fmx_NumberOfSeriesDSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series "D"</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSeriesDSharesIssued" xlink:to="fmx_NumberOfSeriesDSharesIssued_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label id="id_13222622_2938830_1_1" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options exercised in share-based payment arrangement</label>
    <label id="id_13222622_2938830_2_1" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares released from administrative trust to employees upon vesting</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label id="id_13222622_2938971_1_1" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options forfeited in share-based payment arrangement</label>
    <label id="id_13222622_2938971_2_1" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forfeitures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label id="id_13222622_2938831_1_1" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of share options granted in share-based payment arrangement</label>
    <label id="id_13222622_2938831_2_1" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shares acquired by the administrative trust to employees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:to="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <label id="id_13222622_2937605_1_1" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares issued</label>
    <label id="id_13222622_2937605_2_1" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital stock issued</label>
    <label id="id_13222622_2937605_12_1" xlink:label="ifrs-full_NumberOfSharesIssued_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Units</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesIssued" xlink:to="ifrs-full_NumberOfSharesIssued_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:type="locator"/>
    <label id="id_13222622_2938521_1_1" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares outstanding</label>
    <label id="id_13222622_2938521_2_1" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital stock outstanding</label>
    <label id="id_13222622_2938521_12_1" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total shares, outstanding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NumberOfSharesOutstanding" xlink:to="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_NumberOfStores1" xlink:label="fmx_NumberOfStores1" xlink:type="locator"/>
    <label id="id_13222622_2976840_3_1" xlink:label="fmx_NumberOfStores1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number Of Stores1</label>
    <label id="id_13222622_2976840_1_1" xlink:label="fmx_NumberOfStores1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number Of Stores1</label>
    <label id="id_13222622_2976840_2_1" xlink:label="fmx_NumberOfStores1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of store</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfStores1" xlink:to="fmx_NumberOfStores1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OnePointSevenFivePercentageSeniorNotesMember" xlink:label="fmx_OnePointSevenFivePercentageSeniorNotesMember" xlink:type="locator"/>
    <label id="id_13222622_2992444_3_1" xlink:label="fmx_OnePointSevenFivePercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">One Point Seven Five Percentage Senior Notes [Member]</label>
    <label id="id_13222622_2992444_1_1" xlink:label="fmx_OnePointSevenFivePercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">One Point Seven Five Percentage Senior Notes [Member]</label>
    <label id="id_13222622_2992444_2_1" xlink:label="fmx_OnePointSevenFivePercentageSeniorNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1.75% Senior Notes [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OnePointSevenFivePercentageSeniorNotesMember" xlink:to="fmx_OnePointSevenFivePercentageSeniorNotesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OpenMarketMember" xlink:label="fmx_OpenMarketMember" xlink:type="locator"/>
    <label id="id_13222622_2990392_3_1" xlink:label="fmx_OpenMarketMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Open market.</label>
    <label id="id_13222622_2990392_1_1" xlink:label="fmx_OpenMarketMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Open Market [Member]</label>
    <label id="id_13222622_2990392_2_1" xlink:label="fmx_OpenMarketMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Open market [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OpenMarketMember" xlink:to="fmx_OpenMarketMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember" xlink:label="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2990377_3_1" xlink:label="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Operadora de Farmacias Generix, S.A.P.I. de C.V.</label>
    <label id="id_13222622_2990377_1_1" xlink:label="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operadora De Farmacias Generix SAPIdeCV [Member]</label>
    <label id="id_13222622_2990377_2_1" xlink:label="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operadora De Farmacias Generix SAPIdeCV [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember" xlink:to="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="ifrs-full_OperatingSegmentsMember" xlink:type="locator"/>
    <label id="id_13222622_2937610_1_1" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating segments [member]</label>
    <label id="id_13222622_2937610_2_1" xlink:label="ifrs-full_OperatingSegmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating Segments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingSegmentsMember" xlink:to="ifrs-full_OperatingSegmentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OptionPremiumPaid" xlink:label="fmx_OptionPremiumPaid" xlink:type="locator"/>
    <label id="id_13222622_2963648_3_1" xlink:label="fmx_OptionPremiumPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Option premium paid.</label>
    <label id="id_13222622_2963648_1_1" xlink:label="fmx_OptionPremiumPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Option Premium Paid</label>
    <label id="id_13222622_2963648_2_1" xlink:label="fmx_OptionPremiumPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net premium paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OptionPremiumPaid" xlink:to="fmx_OptionPremiumPaid_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OptionsToPurchaseForeignCurrencyContractMember" xlink:label="fmx_OptionsToPurchaseForeignCurrencyContractMember" xlink:type="locator"/>
    <label id="id_13222622_2987117_3_1" xlink:label="fmx_OptionsToPurchaseForeignCurrencyContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Options to purchase foreign currency contract.</label>
    <label id="id_13222622_2987117_1_1" xlink:label="fmx_OptionsToPurchaseForeignCurrencyContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Options To Purchase Foreign Currency Contract [Member]</label>
    <label id="id_13222622_2987117_2_1" xlink:label="fmx_OptionsToPurchaseForeignCurrencyContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Options to purchase foreign currency [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OptionsToPurchaseForeignCurrencyContractMember" xlink:to="fmx_OptionsToPurchaseForeignCurrencyContractMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <label id="id_13222622_2938526_1_1" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ordinary shares [member]</label>
    <label id="id_13222622_2938526_2_1" xlink:label="ifrs-full_OrdinarySharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ordinary shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OrdinarySharesMember" xlink:to="ifrs-full_OrdinarySharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherAcquisitionsAndRemeasurements" xlink:label="fmx_OtherAcquisitionsAndRemeasurements" xlink:type="locator"/>
    <label id="id_13222622_2950891_3_1" xlink:label="fmx_OtherAcquisitionsAndRemeasurements_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other acquisitions and remeasurements.</label>
    <label id="id_13222622_2950891_1_1" xlink:label="fmx_OtherAcquisitionsAndRemeasurements_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Acquisitions And Remeasurements</label>
    <label id="id_13222622_2950891_2_1" xlink:label="fmx_OtherAcquisitionsAndRemeasurements_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other acquisitions and remeasurments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherAcquisitionsAndRemeasurements" xlink:to="fmx_OtherAcquisitionsAndRemeasurements_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherAssetsMember" xlink:label="ifrs-full_OtherAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2938528_1_1" xlink:label="ifrs-full_OtherAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other assets [member]</label>
    <label id="id_13222622_2938528_2_1" xlink:label="ifrs-full_OtherAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherAssetsMember" xlink:to="ifrs-full_OtherAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938979_1_1" xlink:label="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other cash payments to acquire equity or debt instruments of other entities, classified as investing activities</label>
    <label id="id_13222622_2938979_14_1" xlink:label="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other acquisitions, net of cash acquired (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:to="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherCompaniesMember" xlink:label="fmx_OtherCompaniesMember" xlink:type="locator"/>
    <label id="id_13222622_3005334_3_1" xlink:label="fmx_OtherCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other companies.</label>
    <label id="id_13222622_3005334_1_1" xlink:label="fmx_OtherCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other companies [Member]</label>
    <label id="id_13222622_3005334_2_1" xlink:label="fmx_OtherCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other companies [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherCompaniesMember" xlink:to="fmx_OtherCompaniesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_2937615_1_1" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income</label>
    <label id="id_13222622_2937615_2_1" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income</label>
    <label id="id_13222622_2937615_6_1" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other comprehensive income (loss), net of tax</label>
    <label id="id_13222622_2937615_12_1" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss), net of tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncome" xlink:to="ifrs-full_OtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeAbstract" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938839_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income [abstract]</label>
    <label id="id_13222622_2938839_2_1" xlink:label="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAbstract" xlink:to="ifrs-full_OtherComprehensiveIncomeAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2938840_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, attributable to non-controlling interests</label>
    <label id="id_13222622_2938840_6_1" xlink:label="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Accumulated other comprehensive loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:to="ifrs-full_OtherComprehensiveIncomeAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label id="id_13222622_2938844_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, before tax, exchange differences on translation</label>
    <label id="id_13222622_2938844_2_1" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income to consolidated net income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:to="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label id="id_13222622_2937631_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, net of tax, exchange differences on translation</label>
    <label id="id_13222622_2937631_32_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Gain on derecognition of other comprehensive income</label>
    <label id="id_13222622_2937631_33_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income translation adjustments</label>
    <label id="id_13222622_2937631_2_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translating foreign operations</label>
    <label id="id_13222622_2937631_12_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation foreign operation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <label id="id_13222622_2937632_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans</label>
    <label id="id_13222622_2937632_32_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Remeasurements on the Net Defined Benefit Liability</label>
    <label id="id_13222622_2937632_2_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefit liability</label>
    <label id="id_13222622_2937632_12_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefits liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:label="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:type="locator"/>
    <label id="id_13222622_2954434_3_1" xlink:label="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other comprehensive income net of tax valuation of effective portion of derivative financial instruments.</label>
    <label id="id_13222622_2954434_1_1" xlink:label="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Comprehensive Income Net Of Tax Valuation Of Effective Portion Of Derivative Financial Instruments</label>
    <label id="id_13222622_2954434_2_1" xlink:label="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation of the effective portion of derivative financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:to="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:type="locator"/>
    <label id="id_13222622_2938993_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income that will be reclassified to profit or loss, before tax</label>
    <label id="id_13222622_2938993_2_1" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">other comprehensive income to consolidated net income a total loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2938994_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income that will be reclassified to profit or loss, net of tax</label>
    <label id="id_13222622_2938994_6_1" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total items that will be reclassified</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2938850_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive income that will not be reclassified to profit or loss, net of tax</label>
    <label id="id_13222622_2938850_6_1" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total items that will not be reclassified</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:label="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2962196_3_1" xlink:label="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other comprehensive loss attributable to noncontrolling interests</label>
    <label id="id_13222622_2962196_1_1" xlink:label="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other comprehensive loss attributable to noncontrolling interests</label>
    <label id="id_13222622_2962196_2_1" xlink:label="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other comprehensive income (loss):</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:to="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherContractsMember" xlink:label="fmx_OtherContractsMember" xlink:type="locator"/>
    <label id="id_13222622_2997910_3_1" xlink:label="fmx_OtherContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other contracts.</label>
    <label id="id_13222622_2997910_1_1" xlink:label="fmx_OtherContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Contracts [member]</label>
    <label id="id_13222622_2997910_2_1" xlink:label="fmx_OtherContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Contracts [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherContractsMember" xlink:to="fmx_OtherContractsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherCurrenciesMember" xlink:label="fmx_OtherCurrenciesMember" xlink:type="locator"/>
    <label id="id_13222622_2995076_3_1" xlink:label="fmx_OtherCurrenciesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other currencies.</label>
    <label id="id_13222622_2995076_1_1" xlink:label="fmx_OtherCurrenciesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Currencies [member]</label>
    <label id="id_13222622_2995076_2_1" xlink:label="fmx_OtherCurrenciesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other currencies [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherCurrenciesMember" xlink:to="fmx_OtherCurrenciesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentAssets" xlink:label="ifrs-full_OtherCurrentAssets" xlink:type="locator"/>
    <label id="id_13222622_2938537_1_1" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current assets</label>
    <label id="id_13222622_2938537_6_1" xlink:label="ifrs-full_OtherCurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentAssets" xlink:to="ifrs-full_OtherCurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherCurrentAssetsMember" xlink:label="us-gaap_OtherCurrentAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2928511_1_1" xlink:label="us-gaap_OtherCurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Current Assets [Member]</label>
    <label id="id_13222622_2928511_2_1" xlink:label="us-gaap_OtherCurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherCurrentAssetsMember" xlink:to="us-gaap_OtherCurrentAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherCurrentAssetsOther" xlink:label="fmx_OtherCurrentAssetsOther" xlink:type="locator"/>
    <label id="id_13222622_2949118_3_1" xlink:label="fmx_OtherCurrentAssetsOther_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other current assets other.</label>
    <label id="id_13222622_2949118_1_1" xlink:label="fmx_OtherCurrentAssetsOther_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current assets other</label>
    <label id="id_13222622_2949118_2_1" xlink:label="fmx_OtherCurrentAssetsOther_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherCurrentAssetsOther" xlink:to="fmx_OtherCurrentAssetsOther_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentFinancialAssets" xlink:label="ifrs-full_OtherCurrentFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2938851_1_1" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current financial assets</label>
    <label id="id_13222622_2938851_2_1" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets</label>
    <label id="id_13222622_2938851_6_1" xlink:label="ifrs-full_OtherCurrentFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other current financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentFinancialAssets" xlink:to="ifrs-full_OtherCurrentFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentFinancialLiabilities" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2938852_1_1" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current financial liabilities</label>
    <label id="id_13222622_2938852_2_1" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current financial liabilities</label>
    <label id="id_13222622_2938852_6_1" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentFinancialLiabilities" xlink:to="ifrs-full_OtherCurrentFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentNonfinancialAssets" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2938853_1_1" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current non-financial assets</label>
    <label id="id_13222622_2938853_2_1" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other current assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentNonfinancialAssets" xlink:to="ifrs-full_OtherCurrentNonfinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherCurrentReceivables" xlink:label="ifrs-full_OtherCurrentReceivables" xlink:type="locator"/>
    <label id="id_13222622_2938997_1_1" xlink:label="ifrs-full_OtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current receivables</label>
    <label id="id_13222622_2938997_2_1" xlink:label="ifrs-full_OtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherCurrentReceivables" xlink:to="ifrs-full_OtherCurrentReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherEmployeeExpense" xlink:label="ifrs-full_OtherEmployeeExpense" xlink:type="locator"/>
    <label id="id_13222622_2939000_1_1" xlink:label="ifrs-full_OtherEmployeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other employee expense</label>
    <label id="id_13222622_2939000_2_1" xlink:label="ifrs-full_OtherEmployeeExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Compensation expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherEmployeeExpense" xlink:to="ifrs-full_OtherEmployeeExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherEquipmentMember" xlink:label="fmx_OtherEquipmentMember" xlink:type="locator"/>
    <label id="id_13222622_3011077_3_1" xlink:label="fmx_OtherEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Equipment [Member]</label>
    <label id="id_13222622_3011077_1_1" xlink:label="fmx_OtherEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Equipment [Member]</label>
    <label id="id_13222622_3011077_2_1" xlink:label="fmx_OtherEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherEquipmentMember" xlink:to="fmx_OtherEquipmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" xlink:type="locator"/>
    <label id="id_13222622_2938856_1_1" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other expense, by function</label>
    <label id="id_13222622_2938856_2_1" xlink:label="ifrs-full_OtherExpenseByFunction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByFunction" xlink:to="ifrs-full_OtherExpenseByFunction_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherExpenseByNature" xlink:label="ifrs-full_OtherExpenseByNature" xlink:type="locator"/>
    <label id="id_13222622_2938539_1_1" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other expenses, by nature</label>
    <label id="id_13222622_2938539_2_1" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expenses amount</label>
    <label id="id_13222622_2938539_6_1" xlink:label="ifrs-full_OtherExpenseByNature_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherExpenseByNature" xlink:to="ifrs-full_OtherExpenseByNature_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherExpensesWithRelatedParty" xlink:label="fmx_OtherExpensesWithRelatedParty" xlink:type="locator"/>
    <label id="id_13222622_2949355_3_1" xlink:label="fmx_OtherExpensesWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other expenses with related party.</label>
    <label id="id_13222622_2949355_1_1" xlink:label="fmx_OtherExpensesWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Expenses with Related Party</label>
    <label id="id_13222622_2949355_2_1" xlink:label="fmx_OtherExpensesWithRelatedParty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expenses with related parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherExpensesWithRelatedParty" xlink:to="fmx_OtherExpensesWithRelatedParty_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:type="locator"/>
    <label id="id_13222622_2938541_1_1" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other finance income (cost)</label>
    <label id="id_13222622_2938541_2_1" xlink:label="ifrs-full_OtherFinanceIncomeCost_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other net finance expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinanceIncomeCost" xlink:to="ifrs-full_OtherFinanceIncomeCost_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherFinancialAssetMember" xlink:label="fmx_OtherFinancialAssetMember" xlink:type="locator"/>
    <label id="id_13222622_2995339_3_1" xlink:label="fmx_OtherFinancialAssetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other financial asset.</label>
    <label id="id_13222622_2995339_1_1" xlink:label="fmx_OtherFinancialAssetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other financial asset [Member]</label>
    <label id="id_13222622_2995339_2_1" xlink:label="fmx_OtherFinancialAssetMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financial asset [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherFinancialAssetMember" xlink:to="fmx_OtherFinancialAssetMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherFinancialLiabilities" xlink:label="ifrs-full_OtherFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2937641_1_1" xlink:label="ifrs-full_OtherFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other financial liabilities</label>
    <label id="id_13222622_2937641_2_1" xlink:label="ifrs-full_OtherFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financial liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherFinancialLiabilities" xlink:to="ifrs-full_OtherFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherForeignCurrencyTransactions" xlink:label="fmx_OtherForeignCurrencyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2950662_3_1" xlink:label="fmx_OtherForeignCurrencyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other foreign currency transactions.</label>
    <label id="id_13222622_2950662_1_1" xlink:label="fmx_OtherForeignCurrencyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Foreign Currency Transactions</label>
    <label id="id_13222622_2950662_2_1" xlink:label="fmx_OtherForeignCurrencyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherForeignCurrencyTransactions" xlink:to="fmx_OtherForeignCurrencyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <label id="id_13222622_2937643_1_1" xlink:label="ifrs-full_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other income</label>
    <label id="id_13222622_2937643_2_1" xlink:label="ifrs-full_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other income</label>
    <label id="id_13222622_2937643_6_1" xlink:label="ifrs-full_OtherIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Other income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIncome" xlink:to="ifrs-full_OtherIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherIndefiniteLivedIntangibleAssetsMember" xlink:label="fmx_OtherIndefiniteLivedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2990589_3_1" xlink:label="fmx_OtherIndefiniteLivedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other indefinite lived intangible assets.</label>
    <label id="id_13222622_2990589_1_1" xlink:label="fmx_OtherIndefiniteLivedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Indefinite Lived Intangible Assets [Member]</label>
    <label id="id_13222622_2990589_2_1" xlink:label="fmx_OtherIndefiniteLivedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other indefinite lived intangible assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherIndefiniteLivedIntangibleAssetsMember" xlink:to="fmx_OtherIndefiniteLivedIntangibleAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2937644_1_1" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other inflows (outflows) of cash, classified as financing activities</label>
    <label id="id_13222622_2937644_2_1" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financing activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:to="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherIntangibleAssetsMember" xlink:label="ifrs-full_OtherIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2938544_1_1" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other intangible assets [member]</label>
    <label id="id_13222622_2938544_2_1" xlink:label="ifrs-full_OtherIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherIntangibleAssetsMember" xlink:to="ifrs-full_OtherIntangibleAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherInventories" xlink:label="ifrs-full_OtherInventories" xlink:type="locator"/>
    <label id="id_13222622_2938545_1_1" xlink:label="ifrs-full_OtherInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other current inventories</label>
    <label id="id_13222622_2938545_2_1" xlink:label="ifrs-full_OtherInventories_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherInventories" xlink:to="ifrs-full_OtherInventories_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities" xlink:label="fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2954501_3_1" xlink:label="fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other investments in associates and joint ventures classified as investing activities.</label>
    <label id="id_13222622_2954501_1_1" xlink:label="fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Investments In Associates And Joint Ventures Classified As Investing Activities</label>
    <label id="id_13222622_2954501_14_1" xlink:label="fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other investments in associates and joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities" xlink:to="fmx_OtherInvestmentsInAssociatesAndJointVenturesClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember" xlink:label="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember" xlink:type="locator"/>
    <label id="id_13222622_2990496_3_1" xlink:label="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other investments in Coca-Cola FEMSA's companies.</label>
    <label id="id_13222622_2990496_1_1" xlink:label="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Investments In Coca Cola FEMSAs Companies [Member]</label>
    <label id="id_13222622_2990496_2_1" xlink:label="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Investments In Coca Cola FEMSAs Companies [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember" xlink:to="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherInvestmentsMember" xlink:label="us-gaap_OtherInvestmentsMember" xlink:type="locator"/>
    <label id="id_13222622_2928082_1_1" xlink:label="us-gaap_OtherInvestmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Investments [Member]</label>
    <label id="id_13222622_2928082_2_1" xlink:label="us-gaap_OtherInvestmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Investments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherInvestmentsMember" xlink:to="us-gaap_OtherInvestmentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_OtherLiabilitiesMember" xlink:label="us-gaap_OtherLiabilitiesMember" xlink:type="locator"/>
    <label id="id_13222622_2928537_1_1" xlink:label="us-gaap_OtherLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Liabilities [Member]</label>
    <label id="id_13222622_2928537_2_1" xlink:label="us-gaap_OtherLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesMember" xlink:to="us-gaap_OtherLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherMaterialNoncashItems" xlink:label="ifrs-full_OtherMaterialNoncashItems" xlink:type="locator"/>
    <label id="id_13222622_2938546_1_1" xlink:label="ifrs-full_OtherMaterialNoncashItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other material non-cash items</label>
    <label id="id_13222622_2938546_2_1" xlink:label="ifrs-full_OtherMaterialNoncashItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash items other than depreciation and amortization</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherMaterialNoncashItems" xlink:to="ifrs-full_OtherMaterialNoncashItems_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherMiscelleneousAssets" xlink:label="fmx_OtherMiscelleneousAssets" xlink:type="locator"/>
    <label id="id_13222622_2947064_3_1" xlink:label="fmx_OtherMiscelleneousAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other miscelleneous assets.</label>
    <label id="id_13222622_2947064_1_1" xlink:label="fmx_OtherMiscelleneousAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Miscelleneous Assets</label>
    <label id="id_13222622_2947064_2_1" xlink:label="fmx_OtherMiscelleneousAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherMiscelleneousAssets" xlink:to="fmx_OtherMiscelleneousAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNoncurrentFinancialAssets" xlink:label="ifrs-full_OtherNoncurrentFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2937647_1_1" xlink:label="ifrs-full_OtherNoncurrentFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current financial assets</label>
    <label id="id_13222622_2937647_2_1" xlink:label="ifrs-full_OtherNoncurrentFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financial assets</label>
    <label id="id_13222622_2937647_6_1" xlink:label="ifrs-full_OtherNoncurrentFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialAssets" xlink:to="ifrs-full_OtherNoncurrentFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers" xlink:label="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers" xlink:type="locator"/>
    <label id="id_13222622_2971915_3_1" xlink:label="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other non current financial assets classified as others.</label>
    <label id="id_13222622_2971915_1_1" xlink:label="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Non current Financial Assets Classified As Others</label>
    <label id="id_13222622_2971915_2_1" xlink:label="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers" xlink:to="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2939011_1_1" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current financial liabilities</label>
    <label id="id_13222622_2939011_2_1" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other financial liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:to="ifrs-full_OtherNoncurrentFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2937648_1_1" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other non-current non-financial assets</label>
    <label id="id_13222622_2937648_2_1" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other assets</label>
    <label id="id_13222622_2937648_6_1" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total other assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:to="ifrs-full_OtherNoncurrentNonfinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherPayablesToRelatedPartyTransaction" xlink:label="fmx_OtherPayablesToRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2967190_3_1" xlink:label="fmx_OtherPayablesToRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other payables to related party transaction.</label>
    <label id="id_13222622_2967190_1_1" xlink:label="fmx_OtherPayablesToRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other payables to related party transaction</label>
    <label id="id_13222622_2967190_2_1" xlink:label="fmx_OtherPayablesToRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other payables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherPayablesToRelatedPartyTransaction" xlink:to="fmx_OtherPayablesToRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherPrepaidExpenses" xlink:label="fmx_OtherPrepaidExpenses" xlink:type="locator"/>
    <label id="id_13222622_2946103_3_1" xlink:label="fmx_OtherPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other prepaid expenses.</label>
    <label id="id_13222622_2946103_1_1" xlink:label="fmx_OtherPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Prepaid Expenses</label>
    <label id="id_13222622_2946103_2_1" xlink:label="fmx_OtherPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherPrepaidExpenses" xlink:to="fmx_OtherPrepaidExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <label id="id_13222622_2937650_1_1" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other property, plant and equipment [member]</label>
    <label id="id_13222622_2937650_2_1" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:to="ifrs-full_OtherPropertyPlantAndEquipmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <label id="id_13222622_2939014_1_1" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other provisions [member]</label>
    <label id="id_13222622_2939014_2_1" xlink:label="ifrs-full_OtherProvisionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other provisions [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherProvisionsMember" xlink:to="ifrs-full_OtherProvisionsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherReceivableRelatedPartyTransaction" xlink:label="fmx_OtherReceivableRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2967206_3_1" xlink:label="fmx_OtherReceivableRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other receivable related party transaction.</label>
    <label id="id_13222622_2967206_1_1" xlink:label="fmx_OtherReceivableRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other receivable related party transaction</label>
    <label id="id_13222622_2967206_2_1" xlink:label="fmx_OtherReceivableRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherReceivableRelatedPartyTransaction" xlink:to="fmx_OtherReceivableRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherRelatedPartiesMember" xlink:label="ifrs-full_OtherRelatedPartiesMember" xlink:type="locator"/>
    <label id="id_13222622_2938868_1_1" xlink:label="ifrs-full_OtherRelatedPartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other related parties [member]</label>
    <label id="id_13222622_2938868_2_1" xlink:label="ifrs-full_OtherRelatedPartiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other related parties [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRelatedPartiesMember" xlink:to="ifrs-full_OtherRelatedPartiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OtherRevenue" xlink:label="ifrs-full_OtherRevenue" xlink:type="locator"/>
    <label id="id_13222622_2938869_1_1" xlink:label="ifrs-full_OtherRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other revenue</label>
    <label id="id_13222622_2938869_2_1" xlink:label="ifrs-full_OtherRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other operating revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherRevenue" xlink:to="ifrs-full_OtherRevenue_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherRevenueMember" xlink:label="fmx_OtherRevenueMember" xlink:type="locator"/>
    <label id="id_13222622_3008001_3_1" xlink:label="fmx_OtherRevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other revenue.</label>
    <label id="id_13222622_3008001_1_1" xlink:label="fmx_OtherRevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other revenue [Member]</label>
    <label id="id_13222622_3008001_2_1" xlink:label="fmx_OtherRevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other revenue [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherRevenueMember" xlink:to="fmx_OtherRevenueMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherRevenueOnExchangeDifferencesOnTranslation" xlink:label="fmx_OtherRevenueOnExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label id="id_13222622_2957193_3_1" xlink:label="fmx_OtherRevenueOnExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other revenue on exchange differences on translation.</label>
    <label id="id_13222622_2957193_1_1" xlink:label="fmx_OtherRevenueOnExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Revenue On Exchange Differences On Translation</label>
    <label id="id_13222622_2957193_2_1" xlink:label="fmx_OtherRevenueOnExchangeDifferencesOnTranslation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other Operating Revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherRevenueOnExchangeDifferencesOnTranslation" xlink:to="fmx_OtherRevenueOnExchangeDifferencesOnTranslation_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OthersMember" xlink:label="fmx_OthersMember" xlink:type="locator"/>
    <label id="id_13222622_2996912_3_1" xlink:label="fmx_OthersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Others.</label>
    <label id="id_13222622_2996912_1_1" xlink:label="fmx_OthersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Others [Member]</label>
    <label id="id_13222622_2996912_2_1" xlink:label="fmx_OthersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OthersMember" xlink:to="fmx_OthersMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OthersProvisionsAndOtherLongTermLiabilities" xlink:label="fmx_OthersProvisionsAndOtherLongTermLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2952455_3_1" xlink:label="fmx_OthersProvisionsAndOtherLongTermLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Others provisions and other long term liabilities.</label>
    <label id="id_13222622_2952455_1_1" xlink:label="fmx_OthersProvisionsAndOtherLongTermLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Others Provisions And Other Long Term Liabilities</label>
    <label id="id_13222622_2952455_2_1" xlink:label="fmx_OthersProvisionsAndOtherLongTermLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OthersProvisionsAndOtherLongTermLiabilities" xlink:to="fmx_OthersProvisionsAndOtherLongTermLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherSubsidiariesMember" xlink:label="fmx_OtherSubsidiariesMember" xlink:type="locator"/>
    <label id="id_13222622_3012207_3_1" xlink:label="fmx_OtherSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other subsidiaries.</label>
    <label id="id_13222622_3012207_1_1" xlink:label="fmx_OtherSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Subsidiaries [Member]</label>
    <label id="id_13222622_3012207_2_1" xlink:label="fmx_OtherSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherSubsidiariesMember" xlink:to="fmx_OtherSubsidiariesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_OtherTaxAuthorityMember" xlink:label="fmx_OtherTaxAuthorityMember" xlink:type="locator"/>
    <label id="id_13222622_2999550_3_1" xlink:label="fmx_OtherTaxAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other tax authority.</label>
    <label id="id_13222622_2999550_1_1" xlink:label="fmx_OtherTaxAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Tax Authority [Member]</label>
    <label id="id_13222622_2999550_2_1" xlink:label="fmx_OtherTaxAuthorityMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ICMS [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherTaxAuthorityMember" xlink:to="fmx_OtherTaxAuthorityMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:label="ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938871_1_1" xlink:label="ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Outstanding balances for related party transactions [abstract]</label>
    <label id="id_13222622_2938871_2_1" xlink:label="ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balances</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:to="ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_PA" xlink:label="country_PA" xlink:type="locator"/>
    <label id="id_13222622_2934133_1_1" xlink:label="country_PA_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PANAMA</label>
    <label id="id_13222622_2934133_2_1" xlink:label="country_PA_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Panama [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_PA" xlink:to="country_PA_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ParanaMember" xlink:label="fmx_ParanaMember" xlink:type="locator"/>
    <label id="id_13222622_3008676_3_1" xlink:label="fmx_ParanaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Parana.</label>
    <label id="id_13222622_3008676_1_1" xlink:label="fmx_ParanaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parana [member]</label>
    <label id="id_13222622_3008676_2_1" xlink:label="fmx_ParanaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Parana [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ParanaMember" xlink:to="fmx_ParanaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ParentMember" xlink:label="ifrs-full_ParentMember" xlink:type="locator"/>
    <label id="id_13222622_2937656_1_1" xlink:label="ifrs-full_ParentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Parent [member]</label>
    <label id="id_13222622_2937656_2_1" xlink:label="ifrs-full_ParentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParentMember" xlink:to="ifrs-full_ParentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <label id="id_13222622_2938872_1_1" xlink:label="ifrs-full_ParValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Par value per share</label>
    <label id="id_13222622_2938872_2_1" xlink:label="ifrs-full_ParValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Implicit share value per share</label>
    <label id="id_13222622_2938872_12_1" xlink:label="ifrs-full_ParValuePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Par value per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ParValuePerShare" xlink:to="ifrs-full_ParValuePerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <label id="id_13222622_2938873_1_1" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due status [axis]</label>
    <label id="id_13222622_2938873_2_1" xlink:label="ifrs-full_PastDueStatusAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Past due status [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusAxis" xlink:to="ifrs-full_PastDueStatusAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <label id="id_13222622_2939022_1_1" xlink:label="ifrs-full_PastDueStatusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past due status [member]</label>
    <label id="id_13222622_2939022_2_1" xlink:label="ifrs-full_PastDueStatusMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Past due status [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastDueStatusMember" xlink:to="ifrs-full_PastDueStatusMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2938559_1_1" xlink:label="ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Past service cost, net defined benefit liability (asset)</label>
    <label id="id_13222622_2938559_2_1" xlink:label="ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Past service cost</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PaymentForAcquisitionOfNoncontrollingInterest" xlink:label="fmx_PaymentForAcquisitionOfNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_13222622_3043781_3_1" xlink:label="fmx_PaymentForAcquisitionOfNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Payment for acquisition of non-controlling interest</label>
    <label id="id_13222622_3043781_1_1" xlink:label="fmx_PaymentForAcquisitionOfNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payment for acquisition of non-controlling interest</label>
    <label id="id_13222622_3043781_14_1" xlink:label="fmx_PaymentForAcquisitionOfNoncontrollingInterest_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of non-controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PaymentForAcquisitionOfNoncontrollingInterest" xlink:to="fmx_PaymentForAcquisitionOfNoncontrollingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PaymentsInRespectOfSettlementsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PaymentsInRespectOfSettlementsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2939028_1_1" xlink:label="ifrs-full_PaymentsInRespectOfSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Payments in respect of settlements, net defined benefit liability (asset)</label>
    <label id="id_13222622_2939028_14_1" xlink:label="ifrs-full_PaymentsInRespectOfSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Certain liability cost</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PaymentsInRespectOfSettlementsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_PaymentsInRespectOfSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_PE" xlink:label="country_PE" xlink:type="locator"/>
    <label id="id_13222622_2934653_1_1" xlink:label="country_PE_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PERU</label>
    <label id="id_13222622_2934653_2_1" xlink:label="country_PE_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peru [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_PE" xlink:to="country_PE_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PEMEXFranchisesMember" xlink:label="fmx_PEMEXFranchisesMember" xlink:type="locator"/>
    <label id="id_13222622_2990387_3_1" xlink:label="fmx_PEMEXFranchisesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PEMEX Franchises.</label>
    <label id="id_13222622_2990387_1_1" xlink:label="fmx_PEMEXFranchisesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PEMEX Franchises [Member]</label>
    <label id="id_13222622_2990387_2_1" xlink:label="fmx_PEMEXFranchisesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PEMEX Franchises [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PEMEXFranchisesMember" xlink:to="fmx_PEMEXFranchisesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_PEN" xlink:label="currency_PEN" xlink:type="locator"/>
    <label id="id_13222622_2933231_1_1" xlink:label="currency_PEN_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Peru, Nuevos Soles</label>
    <label id="id_13222622_2933231_2_1" xlink:label="currency_PEN_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Peru, Nuevo Sol [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_PEN" xlink:to="currency_PEN_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PensionAndRetirementPlansMember" xlink:label="fmx_PensionAndRetirementPlansMember" xlink:type="locator"/>
    <label id="id_13222622_2983273_3_1" xlink:label="fmx_PensionAndRetirementPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Pension and retirement plans.</label>
    <label id="id_13222622_2983273_1_1" xlink:label="fmx_PensionAndRetirementPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Pension and Retirement Plans [Member]</label>
    <label id="id_13222622_2983273_2_1" xlink:label="fmx_PensionAndRetirementPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pension and retirement plans [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PensionAndRetirementPlansMember" xlink:to="fmx_PensionAndRetirementPlansMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfAnnualBonus" xlink:label="fmx_PercentageOfAnnualBonus" xlink:type="locator"/>
    <label id="id_13222622_3021051_3_1" xlink:label="fmx_PercentageOfAnnualBonus_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of annual bonus.</label>
    <label id="id_13222622_3021051_1_1" xlink:label="fmx_PercentageOfAnnualBonus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Annual Bonus</label>
    <label id="id_13222622_3021051_2_1" xlink:label="fmx_PercentageOfAnnualBonus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of annual bonus</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfAnnualBonus" xlink:to="fmx_PercentageOfAnnualBonus_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear" xlink:type="locator"/>
    <label id="id_13222622_3021099_3_1" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of average federal production and federal sales Tax for the next year.</label>
    <label id="id_13222622_3021099_1_1" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of average Federal Production and Federal Sales Tax for Next Year</label>
    <label id="id_13222622_3021099_2_1" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of average federal Production and federal sales tax for the next year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear" xlink:to="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxForNextYear_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfBonus" xlink:label="fmx_PercentageOfBonus" xlink:type="locator"/>
    <label id="id_13222622_3021050_3_1" xlink:label="fmx_PercentageOfBonus_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of bonus.</label>
    <label id="id_13222622_3021050_1_1" xlink:label="fmx_PercentageOfBonus_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of bonus</label>
    <label id="id_13222622_3021050_2_1" xlink:label="fmx_PercentageOfBonus_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of bonus</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfBonus" xlink:to="fmx_PercentageOfBonus_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfBonusBasedOnEconomicValueAdded" xlink:label="fmx_PercentageOfBonusBasedOnEconomicValueAdded" xlink:type="locator"/>
    <label id="id_13222622_3021052_3_1" xlink:label="fmx_PercentageOfBonusBasedOnEconomicValueAdded_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage Of Bonus Based On Economic Value Added</label>
    <label id="id_13222622_3021052_1_1" xlink:label="fmx_PercentageOfBonusBasedOnEconomicValueAdded_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Bonus Based On Economic Value Added</label>
    <label id="id_13222622_3021052_2_1" xlink:label="fmx_PercentageOfBonusBasedOnEconomicValueAdded_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of economic value added</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfBonusBasedOnEconomicValueAdded" xlink:to="fmx_PercentageOfBonusBasedOnEconomicValueAdded_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfContributionToPovertyEradication" xlink:label="fmx_PercentageOfContributionToPovertyEradication" xlink:type="locator"/>
    <label id="id_13222622_3022902_3_1" xlink:label="fmx_PercentageOfContributionToPovertyEradication_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of contribution to poverty eradication.</label>
    <label id="id_13222622_3022902_1_1" xlink:label="fmx_PercentageOfContributionToPovertyEradication_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Contribution To Poverty Eradication</label>
    <label id="id_13222622_3022902_2_1" xlink:label="fmx_PercentageOfContributionToPovertyEradication_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of contribution to poverty eradication</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfContributionToPovertyEradication" xlink:to="fmx_PercentageOfContributionToPovertyEradication_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfContributionToPovertyEradicationChargedOnSales" xlink:label="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales" xlink:type="locator"/>
    <label id="id_13222622_3022903_3_1" xlink:label="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of contribution to poverty eradication charged on sales.</label>
    <label id="id_13222622_3022903_1_1" xlink:label="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Contribution To Poverty Eradication Charged On Sales</label>
    <label id="id_13222622_3022903_2_1" xlink:label="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of contribution to poverty eradication charged on sales to non-taxpayers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales" xlink:to="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDecreaseInIncomeTaxRate" xlink:label="fmx_PercentageOfDecreaseInIncomeTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021100_3_1" xlink:label="fmx_PercentageOfDecreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of decrease in income tax rate.</label>
    <label id="id_13222622_3021100_1_1" xlink:label="fmx_PercentageOfDecreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Decrease In Income Tax Rate</label>
    <label id="id_13222622_3021100_2_1" xlink:label="fmx_PercentageOfDecreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of decrease in income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDecreaseInIncomeTaxRate" xlink:to="fmx_PercentageOfDecreaseInIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDifferencesBetweenStatutoryTaxRate" xlink:label="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021113_3_1" xlink:label="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of differences between statutory tax rate.</label>
    <label id="id_13222622_3021113_1_1" xlink:label="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Differences Between Statutory Tax Rate</label>
    <label id="id_13222622_3021113_2_1" xlink:label="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Difference between statutory income tax rates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate" xlink:to="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDividendPaid" xlink:label="fmx_PercentageOfDividendPaid" xlink:type="locator"/>
    <label id="id_13222622_3021078_3_1" xlink:label="fmx_PercentageOfDividendPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of dividend paid.</label>
    <label id="id_13222622_3021078_1_1" xlink:label="fmx_PercentageOfDividendPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Dividend Paid</label>
    <label id="id_13222622_3021078_2_1" xlink:label="fmx_PercentageOfDividendPaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of dividend paid</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDividendPaid" xlink:to="fmx_PercentageOfDividendPaid_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDividendPayables" xlink:label="fmx_PercentageOfDividendPayables" xlink:type="locator"/>
    <label id="id_13222622_3021092_3_1" xlink:label="fmx_PercentageOfDividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of dividend payables.</label>
    <label id="id_13222622_3021092_1_1" xlink:label="fmx_PercentageOfDividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Dividend Payables</label>
    <label id="id_13222622_3021092_2_1" xlink:label="fmx_PercentageOfDividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDividendPayables" xlink:to="fmx_PercentageOfDividendPayables_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding" xlink:label="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding" xlink:type="locator"/>
    <label id="id_13222622_3021784_3_1" xlink:label="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of dividend received from Colombian non residents withholding.</label>
    <label id="id_13222622_3021784_1_1" xlink:label="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Dividend Received From Colombian Non Residents Withholding</label>
    <label id="id_13222622_3021784_2_1" xlink:label="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of dividend received from colombian non residents withholding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding" xlink:to="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding" xlink:label="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding" xlink:type="locator"/>
    <label id="id_13222622_3021122_3_1" xlink:label="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of dividend received from Colombian residents withholding.</label>
    <label id="id_13222622_3021122_1_1" xlink:label="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Dividend Received From Colombian Residents Withholding</label>
    <label id="id_13222622_3021122_2_1" xlink:label="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of dividend received from Columbian residents withholding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding" xlink:to="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDividendRightsToBePaid" xlink:label="fmx_PercentageOfDividendRightsToBePaid" xlink:type="locator"/>
    <label id="id_13222622_3021061_3_1" xlink:label="fmx_PercentageOfDividendRightsToBePaid_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of dividend rights to be paid.</label>
    <label id="id_13222622_3021061_1_1" xlink:label="fmx_PercentageOfDividendRightsToBePaid_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Dividend Rights To be Paid</label>
    <label id="id_13222622_3021061_2_1" xlink:label="fmx_PercentageOfDividendRightsToBePaid_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend rights per series (see Note 22.1)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDividendRightsToBePaid" xlink:to="fmx_PercentageOfDividendRightsToBePaid_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfDomesticTaxRate" xlink:label="fmx_PercentageOfDomesticTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021121_3_1" xlink:label="fmx_PercentageOfDomesticTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of domestic tax rate.</label>
    <label id="id_13222622_3021121_1_1" xlink:label="fmx_PercentageOfDomesticTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Domestic Tax Rate</label>
    <label id="id_13222622_3021121_6_1" xlink:label="fmx_PercentageOfDomesticTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfDomesticTaxRate" xlink:to="fmx_PercentageOfDomesticTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw" xlink:label="fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw" xlink:type="locator"/>
    <label id="id_13222622_3021118_3_1" xlink:label="fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of effect of changes in venezuela tax law.</label>
    <label id="id_13222622_3021118_1_1" xlink:label="fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Effect of Changes in Venezuela Tax Law</label>
    <label id="id_13222622_3021118_2_1" xlink:label="fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of changes in Venezuela tax law</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw" xlink:to="fmx_PercentageOfEffectOfChangesInVenezuelaTaxLaw_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales" xlink:label="fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales" xlink:type="locator"/>
    <label id="id_13222622_3022901_3_1" xlink:label="fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of federal production and federal sales tax over net sales.</label>
    <label id="id_13222622_3022901_1_1" xlink:label="fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Federal Production And Federal Sales Tax Over Net Sales</label>
    <label id="id_13222622_3022901_2_1" xlink:label="fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of federal production and federal sales tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales" xlink:to="fmx_PercentageOfFederalProductionAndFederalSalesTaxOverNetSales_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfFinancialInstrumentsOutOfMoney" xlink:label="fmx_PercentageOfFinancialInstrumentsOutOfMoney" xlink:type="locator"/>
    <label id="id_13222622_3021808_3_1" xlink:label="fmx_PercentageOfFinancialInstrumentsOutOfMoney_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of financial instruments out of money.</label>
    <label id="id_13222622_3021808_1_1" xlink:label="fmx_PercentageOfFinancialInstrumentsOutOfMoney_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of financial instruments out of money</label>
    <label id="id_13222622_3021808_2_1" xlink:label="fmx_PercentageOfFinancialInstrumentsOutOfMoney_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of out of the money</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfFinancialInstrumentsOutOfMoney" xlink:to="fmx_PercentageOfFinancialInstrumentsOutOfMoney_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfFundAssets" xlink:label="fmx_PercentageOfFundAssets" xlink:type="locator"/>
    <label id="id_13222622_3020625_3_1" xlink:label="fmx_PercentageOfFundAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of fund assets.</label>
    <label id="id_13222622_3020625_1_1" xlink:label="fmx_PercentageOfFundAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Fund Assets</label>
    <label id="id_13222622_3020625_2_1" xlink:label="fmx_PercentageOfFundAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fund assets, percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfFundAssets" xlink:to="fmx_PercentageOfFundAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations" xlink:label="fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations" xlink:type="locator"/>
    <label id="id_13222622_3021117_3_1" xlink:label="fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of hedges of net investments in foreign operations.</label>
    <label id="id_13222622_3021117_1_1" xlink:label="fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Hedges Of Net Investments In Foreign Operations</label>
    <label id="id_13222622_3021117_2_1" xlink:label="fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedge of a net investment in foreign operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations" xlink:to="fmx_PercentageOfHedgesOfNetInvestmentsInForeignOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfIncomeTaxDeduction" xlink:label="fmx_PercentageOfIncomeTaxDeduction" xlink:type="locator"/>
    <label id="id_13222622_3021127_3_1" xlink:label="fmx_PercentageOfIncomeTaxDeduction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of income tax deduction.</label>
    <label id="id_13222622_3021127_1_1" xlink:label="fmx_PercentageOfIncomeTaxDeduction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Income Tax Deduction</label>
    <label id="id_13222622_3021127_2_1" xlink:label="fmx_PercentageOfIncomeTaxDeduction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of income tax deduction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfIncomeTaxDeduction" xlink:to="fmx_PercentageOfIncomeTaxDeduction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfIncomeTaxRate" xlink:label="fmx_PercentageOfIncomeTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021129_3_1" xlink:label="fmx_PercentageOfIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of income tax rate.</label>
    <label id="id_13222622_3021129_1_1" xlink:label="fmx_PercentageOfIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Income Tax Rate</label>
    <label id="id_13222622_3021129_2_1" xlink:label="fmx_PercentageOfIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of reform income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfIncomeTaxRate" xlink:to="fmx_PercentageOfIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfIncreaseInIncomeTaxRate" xlink:label="fmx_PercentageOfIncreaseInIncomeTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021123_3_1" xlink:label="fmx_PercentageOfIncreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of increase in income tax rate.</label>
    <label id="id_13222622_3021123_1_1" xlink:label="fmx_PercentageOfIncreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Increase In Income Tax Rate</label>
    <label id="id_13222622_3021123_2_1" xlink:label="fmx_PercentageOfIncreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of increase in income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfIncreaseInIncomeTaxRate" xlink:to="fmx_PercentageOfIncreaseInIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfIncreaseInNetCapitalGaintaxRate" xlink:label="fmx_PercentageOfIncreaseInNetCapitalGaintaxRate" xlink:type="locator"/>
    <label id="id_13222622_3048004_3_1" xlink:label="fmx_PercentageOfIncreaseInNetCapitalGaintaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Increase in Net Capital GainTax Rate</label>
    <label id="id_13222622_3048004_1_1" xlink:label="fmx_PercentageOfIncreaseInNetCapitalGaintaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Increase in Net Capital GainTax Rate</label>
    <label id="id_13222622_3048004_2_1" xlink:label="fmx_PercentageOfIncreaseInNetCapitalGaintaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of increase on net capital gains</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfIncreaseInNetCapitalGaintaxRate" xlink:to="fmx_PercentageOfIncreaseInNetCapitalGaintaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfIncreaseInValueAddedTaxRate" xlink:label="fmx_PercentageOfIncreaseInValueAddedTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021124_3_1" xlink:label="fmx_PercentageOfIncreaseInValueAddedTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of increase in value added tax rate.</label>
    <label id="id_13222622_3021124_1_1" xlink:label="fmx_PercentageOfIncreaseInValueAddedTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Increase in Value Added Tax Rate</label>
    <label id="id_13222622_3021124_2_1" xlink:label="fmx_PercentageOfIncreaseInValueAddedTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of Increase in value-added tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfIncreaseInValueAddedTaxRate" xlink:to="fmx_PercentageOfIncreaseInValueAddedTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfInterestsDivestedInAssociate" xlink:label="fmx_PercentageOfInterestsDivestedInAssociate" xlink:type="locator"/>
    <label id="id_13222622_3050789_3_1" xlink:label="fmx_PercentageOfInterestsDivestedInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of interests divested in associate.</label>
    <label id="id_13222622_3050789_1_1" xlink:label="fmx_PercentageOfInterestsDivestedInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of interests divested in associate</label>
    <label id="id_13222622_3050789_2_1" xlink:label="fmx_PercentageOfInterestsDivestedInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of interests divested in associate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfInterestsDivestedInAssociate" xlink:to="fmx_PercentageOfInterestsDivestedInAssociate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds" xlink:label="fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds" xlink:type="locator"/>
    <label id="id_13222622_3051184_3_1" xlink:label="fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of net capital gain tax rate when limit exceeds.</label>
    <label id="id_13222622_3051184_1_1" xlink:label="fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of net capital gain tax rate when limit exceeds</label>
    <label id="id_13222622_3051184_2_1" xlink:label="fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of net capital gain tax rate when limit exceeds</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds" xlink:to="fmx_PercentageOfNetCapitalGainTaxRateWhenLimitExceeds_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfNonDeductibleExpenses" xlink:label="fmx_PercentageOfNonDeductibleExpenses" xlink:type="locator"/>
    <label id="id_13222622_3021114_3_1" xlink:label="fmx_PercentageOfNonDeductibleExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of non deductible expenses.</label>
    <label id="id_13222622_3021114_1_1" xlink:label="fmx_PercentageOfNonDeductibleExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Non Deductible Expenses</label>
    <label id="id_13222622_3021114_2_1" xlink:label="fmx_PercentageOfNonDeductibleExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-deductible expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfNonDeductibleExpenses" xlink:to="fmx_PercentageOfNonDeductibleExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfOtherTaxRate" xlink:label="fmx_PercentageOfOtherTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021120_3_1" xlink:label="fmx_PercentageOfOtherTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of other tax rate.</label>
    <label id="id_13222622_3021120_1_1" xlink:label="fmx_PercentageOfOtherTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Other Tax Rate</label>
    <label id="id_13222622_3021120_2_1" xlink:label="fmx_PercentageOfOtherTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Others</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfOtherTaxRate" xlink:to="fmx_PercentageOfOtherTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies" xlink:label="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies" xlink:type="locator"/>
    <label id="id_13222622_3021781_3_1" xlink:label="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of outstanding consolidated indebtedness in sub holding companies.</label>
    <label id="id_13222622_3021781_1_1" xlink:label="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of outstanding consolidated indebtedness in sub holding companies</label>
    <label id="id_13222622_3021781_2_1" xlink:label="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of outstanding consolidated total indebtedness at the level of its sub-holding companies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies" xlink:to="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfOwnershipInterest" xlink:label="fmx_PercentageOfOwnershipInterest" xlink:type="locator"/>
    <label id="id_13222622_3024586_3_1" xlink:label="fmx_PercentageOfOwnershipInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of ownership interest.</label>
    <label id="id_13222622_3024586_1_1" xlink:label="fmx_PercentageOfOwnershipInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Ownership Interest</label>
    <label id="id_13222622_3024586_2_1" xlink:label="fmx_PercentageOfOwnershipInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfOwnershipInterest" xlink:to="fmx_PercentageOfOwnershipInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfPlanAssetInvestmentForRelatedParties" xlink:label="fmx_PercentageOfPlanAssetInvestmentForRelatedParties" xlink:type="locator"/>
    <label id="id_13222622_3020623_3_1" xlink:label="fmx_PercentageOfPlanAssetInvestmentForRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of plan asset investment for related parties.</label>
    <label id="id_13222622_3020623_1_1" xlink:label="fmx_PercentageOfPlanAssetInvestmentForRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Plan Asset Investment for Related Parties</label>
    <label id="id_13222622_3020623_2_1" xlink:label="fmx_PercentageOfPlanAssetInvestmentForRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan asset investment for related parties, percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfPlanAssetInvestmentForRelatedParties" xlink:to="fmx_PercentageOfPlanAssetInvestmentForRelatedParties_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <label id="id_13222622_2939033_1_1" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of reasonably possible increase in actuarial assumption</label>
    <label id="id_13222622_2939033_2_1" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impact on absolute terms of variation in the assumptions on net defined benefit liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:to="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfReformExtraIncomeTaxRate" xlink:label="fmx_PercentageOfReformExtraIncomeTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021130_3_1" xlink:label="fmx_PercentageOfReformExtraIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of reform extra income tax rate.</label>
    <label id="id_13222622_3021130_1_1" xlink:label="fmx_PercentageOfReformExtraIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Reform Extra Income Tax Rate</label>
    <label id="id_13222622_3021130_2_1" xlink:label="fmx_PercentageOfReformExtraIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of reform extra income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfReformExtraIncomeTaxRate" xlink:to="fmx_PercentageOfReformExtraIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfReformIncomeTaxRate" xlink:label="fmx_PercentageOfReformIncomeTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021128_3_1" xlink:label="fmx_PercentageOfReformIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of reform income tax rate.</label>
    <label id="id_13222622_3021128_1_1" xlink:label="fmx_PercentageOfReformIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Reform Income Tax Rate</label>
    <label id="id_13222622_3021128_2_1" xlink:label="fmx_PercentageOfReformIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of reform income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfReformIncomeTaxRate" xlink:to="fmx_PercentageOfReformIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome" xlink:label="fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome" xlink:type="locator"/>
    <label id="id_13222622_3022904_3_1" xlink:label="fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of social contribution on gross revenues on financial income.</label>
    <label id="id_13222622_3022904_1_1" xlink:label="fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Social Contribution On Gross Revenues On Financial Income</label>
    <label id="id_13222622_3022904_2_1" xlink:label="fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of social contributions on gross revenues on financial income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome" xlink:to="fmx_PercentageOfSocialContributionOnGrossRevenuesOnFinancialIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfSpecialIncreaseInIncomeTaxRate" xlink:label="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate" xlink:type="locator"/>
    <label id="id_13222622_3021131_3_1" xlink:label="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of special increase in income tax rate.</label>
    <label id="id_13222622_3021131_1_1" xlink:label="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Special Increase In Income Tax Rate</label>
    <label id="id_13222622_3021131_2_1" xlink:label="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of special increase in income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate" xlink:to="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfTaxableNonTaxableIncomeNet" xlink:label="fmx_PercentageOfTaxableNonTaxableIncomeNet" xlink:type="locator"/>
    <label id="id_13222622_3021115_3_1" xlink:label="fmx_PercentageOfTaxableNonTaxableIncomeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of taxable non taxable income net.</label>
    <label id="id_13222622_3021115_1_1" xlink:label="fmx_PercentageOfTaxableNonTaxableIncomeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Taxable Non Taxable Income Net</label>
    <label id="id_13222622_3021115_2_1" xlink:label="fmx_PercentageOfTaxableNonTaxableIncomeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Non-taxable) income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTaxableNonTaxableIncomeNet" xlink:to="fmx_PercentageOfTaxableNonTaxableIncomeNet_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects" xlink:label="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects" xlink:type="locator"/>
    <label id="id_13222622_3022992_3_1" xlink:label="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of tax effect from difference between book and tax inflationary values and translation effects.</label>
    <label id="id_13222622_3022992_1_1" xlink:label="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of tax effect from difference between book and tax inflationary values and translation effects</label>
    <label id="id_13222622_3022992_2_1" xlink:label="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Difference between book and tax inflationary values and translation effects</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects" xlink:to="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfTaxEffectOfIncomeTaxCredits" xlink:label="fmx_PercentageOfTaxEffectOfIncomeTaxCredits" xlink:type="locator"/>
    <label id="id_13222622_3021119_3_1" xlink:label="fmx_PercentageOfTaxEffectOfIncomeTaxCredits_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of tax effect of income tax credits.</label>
    <label id="id_13222622_3021119_1_1" xlink:label="fmx_PercentageOfTaxEffectOfIncomeTaxCredits_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Tax Effect Of Income Tax Credits</label>
    <label id="id_13222622_3021119_2_1" xlink:label="fmx_PercentageOfTaxEffectOfIncomeTaxCredits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income tax credits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTaxEffectOfIncomeTaxCredits" xlink:to="fmx_PercentageOfTaxEffectOfIncomeTaxCredits_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit" xlink:label="fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit" xlink:type="locator"/>
    <label id="id_13222622_3051191_3_1" xlink:label="fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of tax effect on philippines consolidation profit.</label>
    <label id="id_13222622_3051191_1_1" xlink:label="fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of tax effect on philippines consolidation profit</label>
    <label id="id_13222622_3051191_2_1" xlink:label="fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Philippines consolidation profit</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit" xlink:to="fmx_PercentageOfTaxEffectOnPhilippinesConsolidationProfit_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfTaxRateOnEquity" xlink:label="fmx_PercentageOfTaxRateOnEquity" xlink:type="locator"/>
    <label id="id_13222622_3022900_3_1" xlink:label="fmx_PercentageOfTaxRateOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of tax rate on equity.</label>
    <label id="id_13222622_3022900_1_1" xlink:label="fmx_PercentageOfTaxRateOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Tax Rate On Equity</label>
    <label id="id_13222622_3022900_2_1" xlink:label="fmx_PercentageOfTaxRateOnEquity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of tax rate on equity</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTaxRateOnEquity" xlink:to="fmx_PercentageOfTaxRateOnEquity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfTemporaryContribution" xlink:label="fmx_PercentageOfTemporaryContribution" xlink:type="locator"/>
    <label id="id_13222622_3021101_3_1" xlink:label="fmx_PercentageOfTemporaryContribution_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of temporary contribution.</label>
    <label id="id_13222622_3021101_1_1" xlink:label="fmx_PercentageOfTemporaryContribution_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Temporary Contribution</label>
    <label id="id_13222622_3021101_2_1" xlink:label="fmx_PercentageOfTemporaryContribution_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of temporary contribution</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTemporaryContribution" xlink:to="fmx_PercentageOfTemporaryContribution_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfUnitOfInvestment" xlink:label="fmx_PercentageOfUnitOfInvestment" xlink:type="locator"/>
    <label id="id_13222622_3021745_3_1" xlink:label="fmx_PercentageOfUnitOfInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of unit of investment.</label>
    <label id="id_13222622_3021745_1_1" xlink:label="fmx_PercentageOfUnitOfInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Unit Of Investment</label>
    <label id="id_13222622_3021745_2_1" xlink:label="fmx_PercentageOfUnitOfInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units of investment, percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfUnitOfInvestment" xlink:to="fmx_PercentageOfUnitOfInvestment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfVenezuelaDesconsolidationEffect" xlink:label="fmx_PercentageOfVenezuelaDesconsolidationEffect" xlink:type="locator"/>
    <label id="id_13222622_3043827_3_1" xlink:label="fmx_PercentageOfVenezuelaDesconsolidationEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Venezuela desconsolidation effect.</label>
    <label id="id_13222622_3043827_1_1" xlink:label="fmx_PercentageOfVenezuelaDesconsolidationEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Venezuela desconsolidation effect</label>
    <label id="id_13222622_3043827_2_1" xlink:label="fmx_PercentageOfVenezuelaDesconsolidationEffect_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuela desconsolidation effect</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfVenezuelaDesconsolidationEffect" xlink:to="fmx_PercentageOfVenezuelaDesconsolidationEffect_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="locator"/>
    <label id="id_13222622_2938303_1_1" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of voting equity interests acquired</label>
    <label id="id_13222622_2938303_2_1" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business acquisition, percentage of voting equity interests acquired</label>
    <label id="id_13222622_2938303_12_1" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling majority stake acquired</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:to="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition" xlink:label="fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition" xlink:type="locator"/>
    <label id="id_13222622_3022878_3_1" xlink:label="fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of voting equity interests increased portion through acquisition.</label>
    <label id="id_13222622_3022878_1_1" xlink:label="fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Voting Equity Interests Increased Portion Through Acquisition</label>
    <label id="id_13222622_3022878_2_1" xlink:label="fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of voting equity interests increased portion through acquisition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition" xlink:to="fmx_PercentageOfVotingEquityInterestsIncreasedPortionThroughAcquisition_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PETBottlesMember" xlink:label="fmx_PETBottlesMember" xlink:type="locator"/>
    <label id="id_13222622_2984144_3_1" xlink:label="fmx_PETBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PET bottles.</label>
    <label id="id_13222622_2984144_1_1" xlink:label="fmx_PETBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PET Bottles [Member]</label>
    <label id="id_13222622_2984144_2_1" xlink:label="fmx_PETBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PET bottles [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PETBottlesMember" xlink:to="fmx_PETBottlesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_PH" xlink:label="country_PH" xlink:type="locator"/>
    <label id="id_13222622_2934654_1_1" xlink:label="country_PH_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PHILIPPINES</label>
    <label id="id_13222622_2934654_2_1" xlink:label="country_PH_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Philippines [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_PH" xlink:to="country_PH_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_PHP" xlink:label="currency_PHP" xlink:type="locator"/>
    <label id="id_13222622_2934486_1_1" xlink:label="currency_PHP_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Philippines, Pesos</label>
    <label id="id_13222622_2934486_2_1" xlink:label="currency_PHP_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Philippine peso [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_PHP" xlink:to="currency_PHP_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PlanAssetsAtFairValue" xlink:label="ifrs-full_PlanAssetsAtFairValue" xlink:type="locator"/>
    <label id="id_13222622_2938562_1_1" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets, at fair value</label>
    <label id="id_13222622_2938562_2_1" xlink:label="ifrs-full_PlanAssetsAtFairValue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan assets including securities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsAtFairValue" xlink:to="ifrs-full_PlanAssetsAtFairValue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PlanAssetsMember" xlink:label="ifrs-full_PlanAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2938304_1_1" xlink:label="ifrs-full_PlanAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Plan assets [member]</label>
    <label id="id_13222622_2938304_2_1" xlink:label="ifrs-full_PlanAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Plan assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PlanAssetsMember" xlink:to="ifrs-full_PlanAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember" xlink:label="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember" xlink:type="locator"/>
    <label id="id_13222622_2998554_3_1" xlink:label="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Post employment and other long term employee benefits.</label>
    <label id="id_13222622_2998554_1_1" xlink:label="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post Employment And Other Long Term Employee Benefits [Member]</label>
    <label id="id_13222622_2998554_2_1" xlink:label="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post-employment and other long-term employee benefits [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember" xlink:to="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="locator"/>
    <label id="id_13222622_2939036_1_1" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-employment benefit expense, defined benefit plans</label>
    <label id="id_13222622_2939036_2_1" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post employment benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:to="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PostEmploymentPlanMember" xlink:label="fmx_PostEmploymentPlanMember" xlink:type="locator"/>
    <label id="id_13222622_2995305_3_1" xlink:label="fmx_PostEmploymentPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Post employment plan.</label>
    <label id="id_13222622_2995305_1_1" xlink:label="fmx_PostEmploymentPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post Employment Plan [member]</label>
    <label id="id_13222622_2995305_2_1" xlink:label="fmx_PostEmploymentPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post-employment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PostEmploymentPlanMember" xlink:to="fmx_PostEmploymentPlanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PostRetirementMedicalServicesMember" xlink:label="fmx_PostRetirementMedicalServicesMember" xlink:type="locator"/>
    <label id="id_13222622_2986991_3_1" xlink:label="fmx_PostRetirementMedicalServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Post retirement medical services.</label>
    <label id="id_13222622_2986991_1_1" xlink:label="fmx_PostRetirementMedicalServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post Retirement Medical Services [Member]</label>
    <label id="id_13222622_2986991_2_1" xlink:label="fmx_PostRetirementMedicalServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Postretirement medical services [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PostRetirementMedicalServicesMember" xlink:to="fmx_PostRetirementMedicalServicesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PrepaidAdvertisingAndPromotionalExpenses" xlink:label="fmx_PrepaidAdvertisingAndPromotionalExpenses" xlink:type="locator"/>
    <label id="id_13222622_2948878_3_1" xlink:label="fmx_PrepaidAdvertisingAndPromotionalExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prepaid advertising and promotional expenses.</label>
    <label id="id_13222622_2948878_1_1" xlink:label="fmx_PrepaidAdvertisingAndPromotionalExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid advertising and promotional expenses</label>
    <label id="id_13222622_2948878_2_1" xlink:label="fmx_PrepaidAdvertisingAndPromotionalExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid advertising and promotional expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PrepaidAdvertisingAndPromotionalExpenses" xlink:to="fmx_PrepaidAdvertisingAndPromotionalExpenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PrepaidInsurance1" xlink:label="fmx_PrepaidInsurance1" xlink:type="locator"/>
    <label id="id_13222622_2946098_3_1" xlink:label="fmx_PrepaidInsurance1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prepaid insurance 1.</label>
    <label id="id_13222622_2946098_1_1" xlink:label="fmx_PrepaidInsurance1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Insurance 1</label>
    <label id="id_13222622_2946098_2_1" xlink:label="fmx_PrepaidInsurance1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid insurance</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PrepaidInsurance1" xlink:to="fmx_PrepaidInsurance1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PrepaidLeases" xlink:label="fmx_PrepaidLeases" xlink:type="locator"/>
    <label id="id_13222622_2954458_3_1" xlink:label="fmx_PrepaidLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Prepaid leases.</label>
    <label id="id_13222622_2954458_1_1" xlink:label="fmx_PrepaidLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Prepaid Leases</label>
    <label id="id_13222622_2954458_2_1" xlink:label="fmx_PrepaidLeases_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Prepaid leases</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PrepaidLeases" xlink:to="fmx_PrepaidLeases_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:type="locator"/>
    <label id="id_13222622_2939039_1_1" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Present value of defined benefit obligation [member]</label>
    <label id="id_13222622_2939039_2_1" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Present value of defined benefit obligation [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:to="ifrs-full_PresentValueOfDefinedBenefitObligationMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProceedsFromAcquisitionOfBusiness" xlink:label="fmx_ProceedsFromAcquisitionOfBusiness" xlink:type="locator"/>
    <label id="id_13222622_3043777_3_1" xlink:label="fmx_ProceedsFromAcquisitionOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from acquisition of business</label>
    <label id="id_13222622_3043777_1_1" xlink:label="fmx_ProceedsFromAcquisitionOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from acquisition of business</label>
    <label id="id_13222622_3043777_2_1" xlink:label="fmx_ProceedsFromAcquisitionOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in cash by acquisition of Coca-Cola FEMSA Philippines, Inc. (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProceedsFromAcquisitionOfBusiness" xlink:to="fmx_ProceedsFromAcquisitionOfBusiness_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938888_1_1" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings, classified as financing activities</label>
    <label id="id_13222622_2938888_2_1" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from borrowings</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:to="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2939045_1_1" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from contributions of non-controlling interests</label>
    <label id="id_13222622_2939045_2_1" xlink:label="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from non-controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests" xlink:to="ifrs-full_ProceedsFromContributionsOfNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:label="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2954486_3_1" xlink:label="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from other financial assets classified as investing activities.</label>
    <label id="id_13222622_2954486_1_1" xlink:label="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds From Other Financial Assets Classified As Investing Activities</label>
    <label id="id_13222622_2954486_2_1" xlink:label="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collection in other financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:to="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938319_1_1" xlink:label="ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of other long-term assets, classified as investing activities</label>
    <label id="id_13222622_2938319_2_1" xlink:label="ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Collections of other assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProceedsFromPartialDisposalOfInvestment" xlink:label="fmx_ProceedsFromPartialDisposalOfInvestment" xlink:type="locator"/>
    <label id="id_13222622_3043779_3_1" xlink:label="fmx_ProceedsFromPartialDisposalOfInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from partial disposal of investment</label>
    <label id="id_13222622_3043779_1_1" xlink:label="fmx_ProceedsFromPartialDisposalOfInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from partial disposal of investment</label>
    <label id="id_13222622_3043779_2_1" xlink:label="fmx_ProceedsFromPartialDisposalOfInvestment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Partial disposal of investment in Heineken Group</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProceedsFromPartialDisposalOfInvestment" xlink:to="fmx_ProceedsFromPartialDisposalOfInvestment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:type="locator"/>
    <label id="id_13222622_2938320_1_1" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentProperty_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of investment property</label>
    <label id="id_13222622_2938320_2_1" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentProperty_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from investment property</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:to="ifrs-full_ProceedsFromSalesOfInvestmentProperty_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2938579_1_1" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of investments other than investments accounted for using equity method</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2939053_1_1" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of property, plant and equipment, classified as investing activities</label>
    <label id="id_13222622_2939053_2_1" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from the sale of property, plant and equipment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:type="locator"/>
    <label id="id_13222622_2938580_1_1" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [axis]</label>
    <label id="id_13222622_2938580_2_1" xlink:label="ifrs-full_ProductsAndServicesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Products and services [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesAxis" xlink:to="ifrs-full_ProductsAndServicesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:type="locator"/>
    <label id="id_13222622_2939054_1_1" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Products and services [member]</label>
    <label id="id_13222622_2939054_2_1" xlink:label="ifrs-full_ProductsAndServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Products and services [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProductsAndServicesMember" xlink:to="ifrs-full_ProductsAndServicesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <label id="id_13222622_2938581_1_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss)</label>
    <label id="id_13222622_2938581_32_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Net income</label>
    <label id="id_13222622_2938581_33_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveTerseLabel" xlink:type="resource" xml:lang="en-US">Consolidated net income</label>
    <label id="id_13222622_2938581_2_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated net income</label>
    <label id="id_13222622_2938581_6_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Consolidated net income</label>
    <label id="id_13222622_2938581_12_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Losses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLoss" xlink:to="ifrs-full_ProfitLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToAbstract" xlink:label="ifrs-full_ProfitLossAttributableToAbstract" xlink:type="locator"/>
    <label id="id_13222622_2939055_1_1" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to [abstract]</label>
    <label id="id_13222622_2939055_2_1" xlink:label="ifrs-full_ProfitLossAttributableToAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Attributable to:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToAbstract" xlink:to="ifrs-full_ProfitLossAttributableToAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2938324_1_1" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to non-controlling interests</label>
    <label id="id_13222622_2938324_2_1" xlink:label="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controllinginterest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:label="ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:type="locator"/>
    <label id="id_13222622_2938895_1_1" xlink:label="ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to ordinary equity holders of parent entity</label>
    <label id="id_13222622_2938895_2_1" xlink:label="ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net Controlling Interest Income Allocated</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity" xlink:to="ifrs-full_ProfitLossAttributableToOrdinaryEquityHoldersOfParentEntity_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_13222622_2938583_1_1" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss), attributable to owners of parent</label>
    <label id="id_13222622_2938583_2_1" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Controlling interest</label>
    <label id="id_13222622_2938583_12_1" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to equity holders</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:to="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <label id="id_13222622_2938897_1_1" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) before tax</label>
    <label id="id_13222622_2938897_2_1" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossBeforeTax" xlink:to="ifrs-full_ProfitLossBeforeTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="locator"/>
    <label id="id_13222622_2938898_1_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from continuing operations</label>
    <label id="id_13222622_2938898_2_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</label>
    <label id="id_13222622_2938898_12_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total consolidated net (loss) income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromContinuingOperations" xlink:to="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest" xlink:label="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest" xlink:type="locator"/>
    <label id="id_13222622_3051959_3_1" xlink:label="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Profit (loss) from remeasurement of previously equity interest</label>
    <label id="id_13222622_3051959_1_1" xlink:label="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from remeasurement of previously equity interest</label>
    <label id="id_13222622_3051959_6_1" xlink:label="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total profit from remeasurement of previously equity interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest" xlink:to="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossOfAcquiree" xlink:label="ifrs-full_ProfitLossOfAcquiree" xlink:type="locator"/>
    <label id="id_13222622_2939061_1_1" xlink:label="ifrs-full_ProfitLossOfAcquiree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) of acquiree since acquisition date</label>
    <label id="id_13222622_2939061_2_1" xlink:label="ifrs-full_ProfitLossOfAcquiree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossOfAcquiree" xlink:to="ifrs-full_ProfitLossOfAcquiree_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProfitLossOfCombinedEntity" xlink:label="ifrs-full_ProfitLossOfCombinedEntity" xlink:type="locator"/>
    <label id="id_13222622_2938587_1_1" xlink:label="ifrs-full_ProfitLossOfCombinedEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) of combined entity as if combination occurred at beginning of period</label>
    <label id="id_13222622_2938587_2_1" xlink:label="ifrs-full_ProfitLossOfCombinedEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossOfCombinedEntity" xlink:to="ifrs-full_ProfitLossOfCombinedEntity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProfitSharingComputationPercentageOnTaxableIncome" xlink:label="fmx_ProfitSharingComputationPercentageOnTaxableIncome" xlink:type="locator"/>
    <label id="id_13222622_3020612_3_1" xlink:label="fmx_ProfitSharingComputationPercentageOnTaxableIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Profit sharing computation percentage on taxable income.</label>
    <label id="id_13222622_3020612_1_1" xlink:label="fmx_ProfitSharingComputationPercentageOnTaxableIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit Sharing Computation Percentage On Taxable Income</label>
    <label id="id_13222622_3020612_2_1" xlink:label="fmx_ProfitSharingComputationPercentageOnTaxableIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit sharing computation ratio on income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProfitSharingComputationPercentageOnTaxableIncome" xlink:to="fmx_ProfitSharingComputationPercentageOnTaxableIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PromissoryNotesMaturityPeriod" xlink:label="fmx_PromissoryNotesMaturityPeriod" xlink:type="locator"/>
    <label id="id_13222622_2977810_3_1" xlink:label="fmx_PromissoryNotesMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Promissory notes maturity period.</label>
    <label id="id_13222622_2977810_1_1" xlink:label="fmx_PromissoryNotesMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Promissory Notes Maturity Period</label>
    <label id="id_13222622_2977810_2_1" xlink:label="fmx_PromissoryNotesMaturityPeriod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Promissory notes maturity period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PromissoryNotesMaturityPeriod" xlink:to="fmx_PromissoryNotesMaturityPeriod_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PromissoryNotesMember" xlink:label="fmx_PromissoryNotesMember" xlink:type="locator"/>
    <label id="id_13222622_2998115_3_1" xlink:label="fmx_PromissoryNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Promissory notes.</label>
    <label id="id_13222622_2998115_1_1" xlink:label="fmx_PromissoryNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Promissory Notes [member]</label>
    <label id="id_13222622_2998115_2_1" xlink:label="fmx_PromissoryNotesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Promissory notes [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PromissoryNotesMember" xlink:to="fmx_PromissoryNotesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PromotoraIndustrialAzucareraSAdeCVMember" xlink:label="fmx_PromotoraIndustrialAzucareraSAdeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2990616_3_1" xlink:label="fmx_PromotoraIndustrialAzucareraSAdeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Promotora Industrial Azucarera, S.A. de C.V.</label>
    <label id="id_13222622_2990616_1_1" xlink:label="fmx_PromotoraIndustrialAzucareraSAdeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Promotora Industrial Azucarera SAdeCV [member]</label>
    <label id="id_13222622_2990616_2_1" xlink:label="fmx_PromotoraIndustrialAzucareraSAdeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Promotora Industrial Azucarera, S.A. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PromotoraIndustrialAzucareraSAdeCVMember" xlink:to="fmx_PromotoraIndustrialAzucareraSAdeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember" xlink:label="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember" xlink:type="locator"/>
    <label id="id_13222622_2983303_3_1" xlink:label="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Promotora Industrial Azucarera, S.A. de C.V. ("PIASA").</label>
    <label id="id_13222622_2983303_1_1" xlink:label="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Promotora Industrial Azucarera, S.A. de C.V. ("PIASA") [Member]</label>
    <label id="id_13222622_2983303_2_1" xlink:label="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Promotora Industrial Azucarera, S.A. de C.V. ("PIASA") [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember" xlink:to="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember" xlink:label="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember" xlink:type="locator"/>
    <label id="id_13222622_2984162_3_1" xlink:label="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Promotora Mexicana De Embotelladores SADeCV.</label>
    <label id="id_13222622_2984162_1_1" xlink:label="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Promotora Mexicana De Embotelladores SADeCV [Member]</label>
    <label id="id_13222622_2984162_2_1" xlink:label="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Promotora Mexicana de Embotelladores, S.A. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember" xlink:to="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2938327_1_1" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</label>
    <label id="id_13222622_2938327_4_1" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Ending balance</label>
    <label id="id_13222622_2938327_5_1" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Beginning balance</label>
    <label id="id_13222622_2938327_2_1" xlink:label="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipment" xlink:to="ifrs-full_PropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember" xlink:label="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2996850_3_1" xlink:label="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Property, plant and equipment and intangible assets.</label>
    <label id="id_13222622_2996850_1_1" xlink:label="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment and intangible assets [member]</label>
    <label id="id_13222622_2996850_2_1" xlink:label="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment and intangible assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember" xlink:to="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <label id="id_13222622_2938592_1_1" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [member]</label>
    <label id="id_13222622_2938592_2_1" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentMember" xlink:to="ifrs-full_PropertyPlantAndEquipmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2939069_1_1" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Property, plant and equipment recognised as of acquisition date</label>
    <label id="id_13222622_2939069_2_1" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProportionOfCapitalStockAsAmericanDepositaryShares" xlink:label="fmx_ProportionOfCapitalStockAsAmericanDepositaryShares" xlink:type="locator"/>
    <label id="id_13222622_3022895_3_1" xlink:label="fmx_ProportionOfCapitalStockAsAmericanDepositaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proportion of capital stock as american depositary shares.</label>
    <label id="id_13222622_3022895_1_1" xlink:label="fmx_ProportionOfCapitalStockAsAmericanDepositaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion Of Capital Stock As American Depositary Shares</label>
    <label id="id_13222622_3022895_2_1" xlink:label="fmx_ProportionOfCapitalStockAsAmericanDepositaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of shares as ADS</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProportionOfCapitalStockAsAmericanDepositaryShares" xlink:to="fmx_ProportionOfCapitalStockAsAmericanDepositaryShares_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <label id="id_13222622_2938338_1_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in associate</label>
    <label id="id_13222622_2938338_32_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in associate</label>
    <label id="id_13222622_2938338_2_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Economic ownership percentage</label>
    <label id="id_13222622_2938338_12_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Ownership Percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:to="ifrs-full_ProportionOfOwnershipInterestInAssociate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="locator"/>
    <label id="id_13222622_2938340_1_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in joint venture</label>
    <label id="id_13222622_2938340_2_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ownership Percentage</label>
    <label id="id_13222622_2938340_12_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership interest in joint venture</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:to="ifrs-full_ProportionOfOwnershipInterestInJointVenture_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired" xlink:label="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired" xlink:type="locator"/>
    <label id="id_13222622_3021276_3_1" xlink:label="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in joint venture to be acquired.</label>
    <label id="id_13222622_3021276_1_1" xlink:label="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in joint venture to be acquired</label>
    <label id="id_13222622_3021276_2_1" xlink:label="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership interest in joint venture to be acquired</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired" xlink:to="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <label id="id_13222622_2938341_1_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest in subsidiary</label>
    <label id="id_13222622_2938341_32_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership in subsidiary</label>
    <label id="id_13222622_2938341_2_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percent of ownership interest</label>
    <label id="id_13222622_2938341_12_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage of ownership after acquisition of additional interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:to="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_13222622_2938910_1_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interests held by non-controlling interests</label>
    <label id="id_13222622_2938910_2_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest held by non controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:to="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProportionOfOwnershipInterestSold" xlink:label="fmx_ProportionOfOwnershipInterestSold" xlink:type="locator"/>
    <label id="id_13222622_3023459_3_1" xlink:label="fmx_ProportionOfOwnershipInterestSold_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest sold.</label>
    <label id="id_13222622_3023459_1_1" xlink:label="fmx_ProportionOfOwnershipInterestSold_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interest sold</label>
    <label id="id_13222622_3023459_2_1" xlink:label="fmx_ProportionOfOwnershipInterestSold_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Portion of investment sold</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProportionOfOwnershipInterestSold" xlink:to="fmx_ProportionOfOwnershipInterestSold_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:type="locator"/>
    <label id="id_13222622_2939071_1_1" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of voting rights held in subsidiary</label>
    <label id="id_13222622_2939071_2_1" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of voting share in subsidiary</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:to="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Provisions" xlink:label="ifrs-full_Provisions" xlink:type="locator"/>
    <label id="id_13222622_2938912_1_1" xlink:label="ifrs-full_Provisions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions</label>
    <label id="id_13222622_2938912_4_1" xlink:label="ifrs-full_Provisions_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at end of the year</label>
    <label id="id_13222622_2938912_5_1" xlink:label="ifrs-full_Provisions_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at beginning of the year</label>
    <label id="id_13222622_2938912_2_1" xlink:label="ifrs-full_Provisions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Provisions" xlink:to="ifrs-full_Provisions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProvisionsAndOtherLongTermLiabilities" xlink:label="fmx_ProvisionsAndOtherLongTermLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2952456_3_1" xlink:label="fmx_ProvisionsAndOtherLongTermLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Provisions and other long term liabilities.</label>
    <label id="id_13222622_2952456_1_1" xlink:label="fmx_ProvisionsAndOtherLongTermLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions And Other Long Term Liabilities</label>
    <label id="id_13222622_2952456_6_1" xlink:label="fmx_ProvisionsAndOtherLongTermLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProvisionsAndOtherLongTermLiabilities" xlink:to="fmx_ProvisionsAndOtherLongTermLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ProvisionsMember" xlink:label="fmx_ProvisionsMember" xlink:type="locator"/>
    <label id="id_13222622_3012742_3_1" xlink:label="fmx_ProvisionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Provisions.</label>
    <label id="id_13222622_3012742_1_1" xlink:label="fmx_ProvisionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions [member]</label>
    <label id="id_13222622_3012742_2_1" xlink:label="fmx_ProvisionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Provisions [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProvisionsMember" xlink:to="fmx_ProvisionsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PubliclyTradedSharesMember" xlink:label="fmx_PubliclyTradedSharesMember" xlink:type="locator"/>
    <label id="id_13222622_2984554_3_1" xlink:label="fmx_PubliclyTradedSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Publicly traded shares.</label>
    <label id="id_13222622_2984554_1_1" xlink:label="fmx_PubliclyTradedSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Publicly Traded Shares[Member]</label>
    <label id="id_13222622_2984554_2_1" xlink:label="fmx_PubliclyTradedSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Publicly traded shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PubliclyTradedSharesMember" xlink:to="fmx_PubliclyTradedSharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchasedCallOptionsMember" xlink:label="ifrs-full_PurchasedCallOptionsMember" xlink:type="locator"/>
    <label id="id_13222622_2938914_1_1" xlink:label="ifrs-full_PurchasedCallOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchased call options [member]</label>
    <label id="id_13222622_2938914_2_1" xlink:label="ifrs-full_PurchasedCallOptionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchased call options [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchasedCallOptionsMember" xlink:to="ifrs-full_PurchasedCallOptionsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938916_1_1" xlink:label="ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of financial instruments, classified as investing activities</label>
    <label id="id_13222622_2938916_14_1" xlink:label="ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derivative financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938348_1_1" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of intangible assets, classified as investing activities</label>
    <label id="id_13222622_2938348_14_1" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Acquisition of intangible assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2939075_1_1" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of investments other than investments accounted for using equity method</label>
    <label id="id_13222622_2939075_14_1" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Purchase of investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:label="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2954504_3_1" xlink:label="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchase of other financial assets classified as investing activities.</label>
    <label id="id_13222622_2954504_1_1" xlink:label="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of other financial assets classified as investing activities</label>
    <label id="id_13222622_2954504_14_1" xlink:label="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Investment in other financial assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:to="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938351_1_1" xlink:label="ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of other long-term assets, classified as investing activities</label>
    <label id="id_13222622_2938351_14_1" xlink:label="ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Investment in other assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_13222622_2938917_1_1" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of property, plant and equipment, classified as investing activities</label>
    <label id="id_13222622_2938917_14_1" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Property, plant and equipment acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:to="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_PurchaseOfRawMaterialThroughForeignCurrency" xlink:label="fmx_PurchaseOfRawMaterialThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_13222622_2950643_3_1" xlink:label="fmx_PurchaseOfRawMaterialThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchase of raw material through foreign currency.</label>
    <label id="id_13222622_2950643_1_1" xlink:label="fmx_PurchaseOfRawMaterialThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase Of Raw Material Through Foreign Currency</label>
    <label id="id_13222622_2950643_2_1" xlink:label="fmx_PurchaseOfRawMaterialThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchases of Raw Materials</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PurchaseOfRawMaterialThroughForeignCurrency" xlink:to="fmx_PurchaseOfRawMaterialThroughForeignCurrency_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2938353_1_1" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchases of goods, related party transactions</label>
    <label id="id_13222622_2938353_2_1" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase of goods from related party transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:to="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_QualifyingAssetsCapitalised" xlink:label="fmx_QualifyingAssetsCapitalised" xlink:type="locator"/>
    <label id="id_13222622_2957175_3_1" xlink:label="fmx_QualifyingAssetsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Qualifying assets capitalised.</label>
    <label id="id_13222622_2957175_1_1" xlink:label="fmx_QualifyingAssetsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Qualifying Assets Capitalised</label>
    <label id="id_13222622_2957175_2_1" xlink:label="fmx_QualifyingAssetsCapitalised_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Qualifying assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_QualifyingAssetsCapitalised" xlink:to="fmx_QualifyingAssetsCapitalised_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <label id="id_13222622_2938920_1_1" xlink:label="ifrs-full_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Range [axis]</label>
    <label id="id_13222622_2938920_2_1" xlink:label="ifrs-full_RangeAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Range [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangeAxis" xlink:to="ifrs-full_RangeAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <label id="id_13222622_2938356_1_1" xlink:label="ifrs-full_RangesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Ranges [member]</label>
    <label id="id_13222622_2938356_2_1" xlink:label="ifrs-full_RangesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Ranges [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RangesMember" xlink:to="ifrs-full_RangesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RawMaterialAndBeerMember" xlink:label="fmx_RawMaterialAndBeerMember" xlink:type="locator"/>
    <label id="id_13222622_2990614_3_1" xlink:label="fmx_RawMaterialAndBeerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Raw material and beer.</label>
    <label id="id_13222622_2990614_1_1" xlink:label="fmx_RawMaterialAndBeerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Raw Material And Beer [Member]</label>
    <label id="id_13222622_2990614_2_1" xlink:label="fmx_RawMaterialAndBeerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Raw material and beer [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RawMaterialAndBeerMember" xlink:to="fmx_RawMaterialAndBeerMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <label id="id_13222622_2938923_1_1" xlink:label="ifrs-full_RawMaterials_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current raw materials</label>
    <label id="id_13222622_2938923_2_1" xlink:label="ifrs-full_RawMaterials_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Raw materials</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RawMaterials" xlink:to="ifrs-full_RawMaterials_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="ifrs-full_RawMaterialsAndConsumablesUsed" xlink:type="locator"/>
    <label id="id_13222622_2938924_1_1" xlink:label="ifrs-full_RawMaterialsAndConsumablesUsed_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Raw materials and consumables used</label>
    <label id="id_13222622_2938924_2_1" xlink:label="ifrs-full_RawMaterialsAndConsumablesUsed_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Raw materials and consumables used</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RawMaterialsAndConsumablesUsed" xlink:to="ifrs-full_RawMaterialsAndConsumablesUsed_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:label="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:type="locator"/>
    <label id="id_13222622_3043311_3_1" xlink:label="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reattribution from controlling interest of other comprehensive income by acquisition of Vonpar.</label>
    <label id="id_13222622_3043311_1_1" xlink:label="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reattribution from controlling interest of other comprehensive income by acquisition of Vonpar</label>
    <label id="id_13222622_3043311_2_1" xlink:label="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reattribution from controlling interest of other comprehensive income by acquisition of Vonpar</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:to="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:label="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:type="locator"/>
    <label id="id_13222622_3043309_3_1" xlink:label="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reattribution to non-controlling interest of other comprehensive income by acquisition of Vonpar.</label>
    <label id="id_13222622_3043309_1_1" xlink:label="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reattribution to non-controlling interest of other comprehensive income by acquisition of Vonpar</label>
    <label id="id_13222622_3043309_14_1" xlink:label="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Reattribution to non-controlling interest of other comprehensive income by acquisition of Vonpar</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:to="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset" xlink:label="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2949483_3_1" xlink:label="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclasification to certain liability cost, net defined benefit liability (asset)</label>
    <label id="id_13222622_2949483_1_1" xlink:label="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclasification to certain liability cost, net defined benefit liability (asset)</label>
    <label id="id_13222622_2949483_2_1" xlink:label="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reclassification to certain liability cost</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset" xlink:to="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ReclassificationAdjustments" xlink:label="fmx_ReclassificationAdjustments" xlink:type="locator"/>
    <label id="id_13222622_3044018_3_1" xlink:label="fmx_ReclassificationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Reclassification adjustments.</label>
    <label id="id_13222622_3044018_1_1" xlink:label="fmx_ReclassificationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification adjustments</label>
    <label id="id_13222622_3044018_2_1" xlink:label="fmx_ReclassificationAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expense reclassification</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ReclassificationAdjustments" xlink:to="fmx_ReclassificationAdjustments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RecognitionOfNoncontrollingInterestUponConsolidation" xlink:label="fmx_RecognitionOfNoncontrollingInterestUponConsolidation" xlink:type="locator"/>
    <label id="id_13222622_3050749_3_1" xlink:label="fmx_RecognitionOfNoncontrollingInterestUponConsolidation_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recognition of non-controlling interest upon consolidation.</label>
    <label id="id_13222622_3050749_1_1" xlink:label="fmx_RecognitionOfNoncontrollingInterestUponConsolidation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recognition of non-controlling interest upon consolidation</label>
    <label id="id_13222622_3050749_2_1" xlink:label="fmx_RecognitionOfNoncontrollingInterestUponConsolidation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognition of non-controlling interest upon consolidation of CCFPI (see Note 4)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RecognitionOfNoncontrollingInterestUponConsolidation" xlink:to="fmx_RecognitionOfNoncontrollingInterestUponConsolidation_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract" xlink:label="ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2939100_1_1" xlink:label="ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in allowance account for credit losses of financial assets [abstract]</label>
    <label id="id_13222622_2939100_2_1" xlink:label="ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reconciliation of changes in allowance account for credit losses of financial assets [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract" xlink:to="ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RecoverableTaxesFromAcquisition" xlink:label="fmx_RecoverableTaxesFromAcquisition" xlink:type="locator"/>
    <label id="id_13222622_3044124_3_1" xlink:label="fmx_RecoverableTaxesFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recoverable taxes from acquisition.</label>
    <label id="id_13222622_3044124_1_1" xlink:label="fmx_RecoverableTaxesFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recoverable taxes from acquisition</label>
    <label id="id_13222622_3044124_2_1" xlink:label="fmx_RecoverableTaxesFromAcquisition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recoverable taxes from business combinations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RecoverableTaxesFromAcquisition" xlink:to="fmx_RecoverableTaxesFromAcquisition_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RecoveriesFromPreviousYears" xlink:label="fmx_RecoveriesFromPreviousYears" xlink:type="locator"/>
    <label id="id_13222622_2950752_3_1" xlink:label="fmx_RecoveriesFromPreviousYears_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recoveries from previous years.</label>
    <label id="id_13222622_2950752_1_1" xlink:label="fmx_RecoveriesFromPreviousYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recoveries From Previous Years</label>
    <label id="id_13222622_2950752_2_1" xlink:label="fmx_RecoveriesFromPreviousYears_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recoveries from previous years</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RecoveriesFromPreviousYears" xlink:to="fmx_RecoveriesFromPreviousYears_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures" xlink:type="locator"/>
    <label id="id_13222622_3043774_3_1" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recycling from net defined benefit liability on partial disposal of associates and join ventures</label>
    <label id="id_13222622_3043774_1_1" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recycling from net defined benefit liability on partial disposal of associates and join ventures</label>
    <label id="id_13222622_3043774_2_1" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recycling from net defined benefit liability on partial disposal of associates and joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures" xlink:to="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfAssociatesAndJoinVentures_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RefrigerationEquipmentMember" xlink:label="fmx_RefrigerationEquipmentMember" xlink:type="locator"/>
    <label id="id_13222622_2984297_3_1" xlink:label="fmx_RefrigerationEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Refrigeration equipment.</label>
    <label id="id_13222622_2984297_1_1" xlink:label="fmx_RefrigerationEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Refrigeration Equipment [member]</label>
    <label id="id_13222622_2984297_2_1" xlink:label="fmx_RefrigerationEquipmentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Refrigeration equipment [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RefrigerationEquipmentMember" xlink:to="fmx_RefrigerationEquipmentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:type="locator"/>
    <label id="id_13222622_2938638_1_1" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remaining amortisation period of intangible assets material to entity</label>
    <label id="id_13222622_2938638_2_1" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average Remaining Period Intangible Assets Subject to Amortization</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:to="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RemaningPercentageOfValueAddedTax" xlink:label="fmx_RemaningPercentageOfValueAddedTax" xlink:type="locator"/>
    <label id="id_13222622_3021104_3_1" xlink:label="fmx_RemaningPercentageOfValueAddedTax_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Remaning percentage of value added tax.</label>
    <label id="id_13222622_3021104_1_1" xlink:label="fmx_RemaningPercentageOfValueAddedTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remaning Percentage Of Value Added Tax</label>
    <label id="id_13222622_3021104_2_1" xlink:label="fmx_RemaningPercentageOfValueAddedTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remaining percentage of value added tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RemaningPercentageOfValueAddedTax" xlink:to="fmx_RemaningPercentageOfValueAddedTax_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RemeasurementOfNetDefinedBenefitsLiability" xlink:label="fmx_RemeasurementOfNetDefinedBenefitsLiability" xlink:type="locator"/>
    <label id="id_13222622_2950890_3_1" xlink:label="fmx_RemeasurementOfNetDefinedBenefitsLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Remeasurement of net defined benefits liability.</label>
    <label id="id_13222622_2950890_1_1" xlink:label="fmx_RemeasurementOfNetDefinedBenefitsLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remeasurement Of Net Defined Benefits Liability</label>
    <label id="id_13222622_2950890_2_1" xlink:label="fmx_RemeasurementOfNetDefinedBenefitsLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefits liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RemeasurementOfNetDefinedBenefitsLiability" xlink:to="fmx_RemeasurementOfNetDefinedBenefitsLiability_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability" xlink:label="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability" xlink:type="locator"/>
    <label id="id_13222622_2949085_3_1" xlink:label="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined employee benefit liability.</label>
    <label id="id_13222622_2949085_1_1" xlink:label="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Remeasurement Of Net Defined Employee Benefit Liability</label>
    <label id="id_13222622_2949085_2_1" xlink:label="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefit liability</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability" xlink:to="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RentalExpense" xlink:label="ifrs-full_RentalExpense" xlink:type="locator"/>
    <label id="id_13222622_2938389_1_1" xlink:label="ifrs-full_RentalExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rental expense</label>
    <label id="id_13222622_2938389_2_1" xlink:label="ifrs-full_RentalExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rental expense</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RentalExpense" xlink:to="ifrs-full_RentalExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RepatriationOfCapitalBenefitDecreePercentage" xlink:label="fmx_RepatriationOfCapitalBenefitDecreePercentage" xlink:type="locator"/>
    <label id="id_13222622_3043820_3_1" xlink:label="fmx_RepatriationOfCapitalBenefitDecreePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Repatriation of capital benefit decree percentage.</label>
    <label id="id_13222622_3043820_1_1" xlink:label="fmx_RepatriationOfCapitalBenefitDecreePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repatriation of capital benefit decree percentage</label>
    <label id="id_13222622_3043820_2_1" xlink:label="fmx_RepatriationOfCapitalBenefitDecreePercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repatriation of capital benefit decree</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RepatriationOfCapitalBenefitDecreePercentage" xlink:to="fmx_RepatriationOfCapitalBenefitDecreePercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:type="locator"/>
    <label id="id_13222622_2939114_1_1" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of bonds, notes and debentures</label>
    <label id="id_13222622_2939114_2_1" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repayment of bonds</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:to="ifrs-full_RepaymentsOfBondsNotesAndDebentures_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:type="locator"/>
    <label id="id_13222622_2939224_1_1" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Repayments of non-current borrowings</label>
    <label id="id_13222622_2939224_14_1" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Payments of bank loans</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:to="ifrs-full_RepaymentsOfNoncurrentBorrowings_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="locator"/>
    <label id="id_13222622_2939228_1_1" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of exchange differences on translation [member]</label>
    <label id="id_13222622_2939228_2_1" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations and associates [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:to="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:type="locator"/>
    <label id="id_13222622_2939234_1_1" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of remeasurements of defined benefit plans [member]</label>
    <label id="id_13222622_2939234_2_1" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remeasurements of the net defined benefit liability [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:to="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RestrictionPeriodForRelatedPartyTransaction" xlink:label="fmx_RestrictionPeriodForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2977481_3_1" xlink:label="fmx_RestrictionPeriodForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Restriction period for related party transaction.</label>
    <label id="id_13222622_2977481_1_1" xlink:label="fmx_RestrictionPeriodForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Restriction Period For Related Party Transaction</label>
    <label id="id_13222622_2977481_2_1" xlink:label="fmx_RestrictionPeriodForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Restriction period from holding exclusive contract with another supplier at the end of the contract term</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RestrictionPeriodForRelatedPartyTransaction" xlink:to="fmx_RestrictionPeriodForRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RetailDivisionMember" xlink:label="fmx_RetailDivisionMember" xlink:type="locator"/>
    <label id="id_13222622_2990209_3_1" xlink:label="fmx_RetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retail division.</label>
    <label id="id_13222622_2990209_1_1" xlink:label="fmx_RetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retail Division [Member]</label>
    <label id="id_13222622_2990209_2_1" xlink:label="fmx_RetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retail Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RetailDivisionMember" xlink:to="fmx_RetailDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RetainedEarnings" xlink:label="ifrs-full_RetainedEarnings" xlink:type="locator"/>
    <label id="id_13222622_2939237_1_1" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings</label>
    <label id="id_13222622_2939237_2_1" xlink:label="ifrs-full_RetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarnings" xlink:to="ifrs-full_RetainedEarnings_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <label id="id_13222622_2939238_1_1" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</label>
    <label id="id_13222622_2939238_2_1" xlink:label="ifrs-full_RetainedEarningsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetainedEarningsMember" xlink:to="ifrs-full_RetainedEarningsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RetainedEarningsOfAssociates" xlink:label="fmx_RetainedEarningsOfAssociates" xlink:type="locator"/>
    <label id="id_13222622_2951269_3_1" xlink:label="fmx_RetainedEarningsOfAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retained Earnings Of Associates</label>
    <label id="id_13222622_2951269_1_1" xlink:label="fmx_RetainedEarningsOfAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained Earnings Of Associates</label>
    <label id="id_13222622_2951269_2_1" xlink:label="fmx_RetainedEarningsOfAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings of associates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RetainedEarningsOfAssociates" xlink:to="fmx_RetainedEarningsOfAssociates_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ReturnableBottlesMember" xlink:label="fmx_ReturnableBottlesMember" xlink:type="locator"/>
    <label id="id_13222622_2984298_3_1" xlink:label="fmx_ReturnableBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Returnable bottles.</label>
    <label id="id_13222622_2984298_1_1" xlink:label="fmx_ReturnableBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Returnable Bottles [member]</label>
    <label id="id_13222622_2984298_2_1" xlink:label="fmx_ReturnableBottlesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Returnable bottles [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ReturnableBottlesMember" xlink:to="fmx_ReturnableBottlesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_13222622_2938402_1_1" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Return on plan assets, net defined benefit liability (asset)</label>
    <label id="id_13222622_2938402_14_1" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Actual return on trust assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:to="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_13222622_2939241_1_1" xlink:label="ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revaluation increase (decrease), intangible assets other than goodwill</label>
    <label id="id_13222622_2939241_2_1" xlink:label="ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in fair value of past acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:label="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2938403_1_1" xlink:label="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revaluation increase (decrease), property, plant and equipment</label>
    <label id="id_13222622_2938403_2_1" xlink:label="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in fair value of past acquisitions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:to="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <label id="id_13222622_2939244_1_1" xlink:label="ifrs-full_Revenue_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue</label>
    <label id="id_13222622_2939244_2_1" xlink:label="ifrs-full_Revenue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenue</label>
    <label id="id_13222622_2939244_6_1" xlink:label="ifrs-full_Revenue_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total revenues</label>
    <label id="id_13222622_2939244_12_1" xlink:label="ifrs-full_Revenue_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_Revenue" xlink:to="ifrs-full_Revenue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueAndOperatingIncome" xlink:label="ifrs-full_RevenueAndOperatingIncome" xlink:type="locator"/>
    <label id="id_13222622_2938404_1_1" xlink:label="ifrs-full_RevenueAndOperatingIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue and other operating income</label>
    <label id="id_13222622_2938404_2_1" xlink:label="ifrs-full_RevenueAndOperatingIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenue and other income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueAndOperatingIncome" xlink:to="ifrs-full_RevenueAndOperatingIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <label id="id_13222622_2939137_1_1" xlink:label="ifrs-full_RevenueFromInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest income</label>
    <label id="id_13222622_2939137_2_1" xlink:label="ifrs-full_RevenueFromInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromInterest" xlink:to="ifrs-full_RevenueFromInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2938413_1_1" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from rendering of services, related party transactions</label>
    <label id="id_13222622_2938413_2_1" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income from related party transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:to="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueFromSaleOfGoods" xlink:label="ifrs-full_RevenueFromSaleOfGoods" xlink:type="locator"/>
    <label id="id_13222622_2939257_1_1" xlink:label="ifrs-full_RevenueFromSaleOfGoods_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from sale of goods</label>
    <label id="id_13222622_2939257_2_1" xlink:label="ifrs-full_RevenueFromSaleOfGoods_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net sale</label>
    <label id="id_13222622_2939257_12_1" xlink:label="ifrs-full_RevenueFromSaleOfGoods_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net sales</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromSaleOfGoods" xlink:to="ifrs-full_RevenueFromSaleOfGoods_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="ifrs-full_RevenueOfAcquiree" xlink:type="locator"/>
    <label id="id_13222622_2939364_1_1" xlink:label="ifrs-full_RevenueOfAcquiree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue of acquiree since acquisition date</label>
    <label id="id_13222622_2939364_2_1" xlink:label="ifrs-full_RevenueOfAcquiree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueOfAcquiree" xlink:to="ifrs-full_RevenueOfAcquiree_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_RevenueOfCombinedEntity" xlink:label="ifrs-full_RevenueOfCombinedEntity" xlink:type="locator"/>
    <label id="id_13222622_2939365_1_1" xlink:label="ifrs-full_RevenueOfCombinedEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue of combined entity as if combination occurred at beginning of period</label>
    <label id="id_13222622_2939365_2_1" xlink:label="ifrs-full_RevenueOfCombinedEntity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueOfCombinedEntity" xlink:to="ifrs-full_RevenueOfCombinedEntity_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RevenueThroughForeignCurrency" xlink:label="fmx_RevenueThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_13222622_2950641_3_1" xlink:label="fmx_RevenueThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue through foreign currency.</label>
    <label id="id_13222622_2950641_1_1" xlink:label="fmx_RevenueThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue Through Foreign Currency</label>
    <label id="id_13222622_2950641_2_1" xlink:label="fmx_RevenueThroughForeignCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RevenueThroughForeignCurrency" xlink:to="fmx_RevenueThroughForeignCurrency_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RightToProduceAndDistributeTrademarkProductsMember" xlink:label="fmx_RightToProduceAndDistributeTrademarkProductsMember" xlink:type="locator"/>
    <label id="id_13222622_2999420_3_1" xlink:label="fmx_RightToProduceAndDistributeTrademarkProductsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Right To Produce And Distribute Trademark Products.</label>
    <label id="id_13222622_2999420_1_1" xlink:label="fmx_RightToProduceAndDistributeTrademarkProductsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Right To Produce And Distribute Trademark Products [Member]</label>
    <label id="id_13222622_2999420_2_1" xlink:label="fmx_RightToProduceAndDistributeTrademarkProductsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Right to produce and distribute trademark products [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RightToProduceAndDistributeTrademarkProductsMember" xlink:to="fmx_RightToProduceAndDistributeTrademarkProductsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RioDeJaneiroMember" xlink:label="fmx_RioDeJaneiroMember" xlink:type="locator"/>
    <label id="id_13222622_3008675_3_1" xlink:label="fmx_RioDeJaneiroMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Rio de Janeiro.</label>
    <label id="id_13222622_3008675_1_1" xlink:label="fmx_RioDeJaneiroMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rio de Janeiro [member]</label>
    <label id="id_13222622_3008675_2_1" xlink:label="fmx_RioDeJaneiroMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rio de Janeiro [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RioDeJaneiroMember" xlink:to="fmx_RioDeJaneiroMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RioGrandeDoSulMember" xlink:label="fmx_RioGrandeDoSulMember" xlink:type="locator"/>
    <label id="id_13222622_3008673_3_1" xlink:label="fmx_RioGrandeDoSulMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Rio Grande do Sul.</label>
    <label id="id_13222622_3008673_1_1" xlink:label="fmx_RioGrandeDoSulMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Rio Grande do Sul [member]</label>
    <label id="id_13222622_3008673_2_1" xlink:label="fmx_RioGrandeDoSulMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Rio Grande do Sul [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RioGrandeDoSulMember" xlink:to="fmx_RioGrandeDoSulMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_RiskPremiumBasisPoints" xlink:label="fmx_RiskPremiumBasisPoints" xlink:type="locator"/>
    <label id="id_13222622_2945343_3_1" xlink:label="fmx_RiskPremiumBasisPoints_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Risk premium, basis points.</label>
    <label id="id_13222622_2945343_1_1" xlink:label="fmx_RiskPremiumBasisPoints_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk Premium, Basis Points</label>
    <label id="id_13222622_2945343_2_1" xlink:label="fmx_RiskPremiumBasisPoints_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk premium basis points</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RiskPremiumBasisPoints" xlink:to="fmx_RiskPremiumBasisPoints_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SabDeCvAndSubsidiariesMember" xlink:label="fmx_SabDeCvAndSubsidiariesMember" xlink:type="locator"/>
    <label id="id_13222622_2990203_3_1" xlink:label="fmx_SabDeCvAndSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">S.A.B. de C.V. and subsidiaries.</label>
    <label id="id_13222622_2990203_1_1" xlink:label="fmx_SabDeCvAndSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sab De Cv And Subsidiaries [Member]</label>
    <label id="id_13222622_2990203_2_1" xlink:label="fmx_SabDeCvAndSubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">S.A.B. de C.V. and subsidiaries [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SabDeCvAndSubsidiariesMember" xlink:to="fmx_SabDeCvAndSubsidiariesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SaleOfWasteMaterial" xlink:label="fmx_SaleOfWasteMaterial" xlink:type="locator"/>
    <label id="id_13222622_2950750_3_1" xlink:label="fmx_SaleOfWasteMaterial_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale of waste material.</label>
    <label id="id_13222622_2950750_1_1" xlink:label="fmx_SaleOfWasteMaterial_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Waste Material</label>
    <label id="id_13222622_2950750_2_1" xlink:label="fmx_SaleOfWasteMaterial_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of waste material</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SaleOfWasteMaterial" xlink:to="fmx_SaleOfWasteMaterial_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SalesAndMarketingExpense" xlink:label="ifrs-full_SalesAndMarketingExpense" xlink:type="locator"/>
    <label id="id_13222622_2938681_1_1" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales and marketing expense</label>
    <label id="id_13222622_2938681_2_1" xlink:label="ifrs-full_SalesAndMarketingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Selling expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SalesAndMarketingExpense" xlink:to="ifrs-full_SalesAndMarketingExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SalesTaxesInTheProvinceOfBuenosAiresMember" xlink:label="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember" xlink:type="locator"/>
    <label id="id_13222622_3051174_3_1" xlink:label="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sales taxes in the province of Buenos Aires.</label>
    <label id="id_13222622_3051174_1_1" xlink:label="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales taxes in the province of Buenos Aires [Member]</label>
    <label id="id_13222622_3051174_2_1" xlink:label="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sales taxes in the province of Buenos Aires [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember" xlink:to="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SalesTaxInCityOfBuenosAiresMember" xlink:label="fmx_SalesTaxInCityOfBuenosAiresMember" xlink:type="locator"/>
    <label id="id_13222622_3051177_3_1" xlink:label="fmx_SalesTaxInCityOfBuenosAiresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sales tax in Ccty of Buenos Aires.</label>
    <label id="id_13222622_3051177_1_1" xlink:label="fmx_SalesTaxInCityOfBuenosAiresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sales Tax In City of Buenos Aires [Member]</label>
    <label id="id_13222622_3051177_2_1" xlink:label="fmx_SalesTaxInCityOfBuenosAiresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sales Tax in City of Buenos Aires [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SalesTaxInCityOfBuenosAiresMember" xlink:to="fmx_SalesTaxInCityOfBuenosAiresMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ScheduleOfDomesticTaxRateExplanatory" xlink:label="fmx_ScheduleOfDomesticTaxRateExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3014617_3_1" xlink:label="fmx_ScheduleOfDomesticTaxRateExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of domestic tax rate.</label>
    <label id="id_13222622_3014617_1_1" xlink:label="fmx_ScheduleOfDomesticTaxRateExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Domestic Tax Rate [Text Block]</label>
    <label id="id_13222622_3014617_2_1" xlink:label="fmx_ScheduleOfDomesticTaxRateExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Domestic Tax Rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ScheduleOfDomesticTaxRateExplanatory" xlink:to="fmx_ScheduleOfDomesticTaxRateExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory" xlink:label="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory" xlink:type="locator"/>
    <label id="id_13222622_3018724_3_1" xlink:label="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule of income tax recognized as other comprehensive income loss explanatory.</label>
    <label id="id_13222622_3018724_1_1" xlink:label="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Schedule Of Income Tax Recognized As Other Comprehensive Income Loss Explanatory</label>
    <label id="id_13222622_3018724_2_1" xlink:label="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Recognized in Consolidated Statement of Other Comprehensive Income</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory" xlink:to="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SecurityDepositsMember" xlink:label="fmx_SecurityDepositsMember" xlink:type="locator"/>
    <label id="id_13222622_2987967_3_1" xlink:label="fmx_SecurityDepositsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Security deposits.</label>
    <label id="id_13222622_2987967_1_1" xlink:label="fmx_SecurityDepositsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Security Deposits [Member]</label>
    <label id="id_13222622_2987967_2_1" xlink:label="fmx_SecurityDepositsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Security deposits [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SecurityDepositsMember" xlink:to="fmx_SecurityDepositsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <label id="id_13222622_2939272_1_1" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segment consolidation items [axis]</label>
    <label id="id_13222622_2939272_2_1" xlink:label="ifrs-full_SegmentConsolidationItemsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segment consolidation items [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentConsolidationItemsAxis" xlink:to="ifrs-full_SegmentConsolidationItemsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <label id="id_13222622_2939373_1_1" xlink:label="ifrs-full_SegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [axis]</label>
    <label id="id_13222622_2939373_2_1" xlink:label="ifrs-full_SegmentsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsAxis" xlink:to="ifrs-full_SegmentsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <label id="id_13222622_2938435_1_1" xlink:label="ifrs-full_SegmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Segments [member]</label>
    <label id="id_13222622_2938435_2_1" xlink:label="ifrs-full_SegmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Segments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SegmentsMember" xlink:to="ifrs-full_SegmentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeniorityPremiumPlanMember" xlink:label="fmx_SeniorityPremiumPlanMember" xlink:type="locator"/>
    <label id="id_13222622_2980740_3_1" xlink:label="fmx_SeniorityPremiumPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Seniority premium.</label>
    <label id="id_13222622_2980740_1_1" xlink:label="fmx_SeniorityPremiumPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Seniority premium plan [member]</label>
    <label id="id_13222622_2980740_2_1" xlink:label="fmx_SeniorityPremiumPlanMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Seniority premiums [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeniorityPremiumPlanMember" xlink:to="fmx_SeniorityPremiumPlanMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeniorityPremiumsMember" xlink:label="fmx_SeniorityPremiumsMember" xlink:type="locator"/>
    <label id="id_13222622_2983267_3_1" xlink:label="fmx_SeniorityPremiumsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Seniority premiums.</label>
    <label id="id_13222622_2983267_1_1" xlink:label="fmx_SeniorityPremiumsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Seniority Premiums [Member]</label>
    <label id="id_13222622_2983267_2_1" xlink:label="fmx_SeniorityPremiumsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Seniority premiums [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeniorityPremiumsMember" xlink:to="fmx_SeniorityPremiumsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeriesB1Member" xlink:label="fmx_SeriesB1Member" xlink:type="locator"/>
    <label id="id_13222622_2990412_3_1" xlink:label="fmx_SeriesB1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series B.</label>
    <label id="id_13222622_2990412_1_1" xlink:label="fmx_SeriesB1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series B 1 [Member]</label>
    <label id="id_13222622_2990412_2_1" xlink:label="fmx_SeriesB1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B 1 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesB1Member" xlink:to="fmx_SeriesB1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeriesBSharesMember" xlink:label="fmx_SeriesBSharesMember" xlink:type="locator"/>
    <label id="id_13222622_3009387_3_1" xlink:label="fmx_SeriesBSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series B shares.</label>
    <label id="id_13222622_3009387_1_1" xlink:label="fmx_SeriesBSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series B Shares [Member]</label>
    <label id="id_13222622_3009387_2_1" xlink:label="fmx_SeriesBSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series B shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesBSharesMember" xlink:to="fmx_SeriesBSharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeriesDMember" xlink:label="fmx_SeriesDMember" xlink:type="locator"/>
    <label id="id_13222622_2990406_3_1" xlink:label="fmx_SeriesDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series D.</label>
    <label id="id_13222622_2990406_1_1" xlink:label="fmx_SeriesDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series D [Member]</label>
    <label id="id_13222622_2990406_2_1" xlink:label="fmx_SeriesDMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series D [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesDMember" xlink:to="fmx_SeriesDMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeriesDSharesMember" xlink:label="fmx_SeriesDSharesMember" xlink:type="locator"/>
    <label id="id_13222622_2990237_3_1" xlink:label="fmx_SeriesDSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series D shares.</label>
    <label id="id_13222622_2990237_1_1" xlink:label="fmx_SeriesDSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series D Shares [Member]</label>
    <label id="id_13222622_2990237_2_1" xlink:label="fmx_SeriesDSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series D shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesDSharesMember" xlink:to="fmx_SeriesDSharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeriesLShareMember" xlink:label="fmx_SeriesLShareMember" xlink:type="locator"/>
    <label id="id_13222622_2983366_3_1" xlink:label="fmx_SeriesLShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series L share.</label>
    <label id="id_13222622_2983366_1_1" xlink:label="fmx_SeriesLShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series L Share [member]</label>
    <label id="id_13222622_2983366_2_1" xlink:label="fmx_SeriesLShareMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series L share [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesLShareMember" xlink:to="fmx_SeriesLShareMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2938439_1_1" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Services received, related party transactions</label>
    <label id="id_13222622_2938439_2_1" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Services received to related party transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:to="ifrs-full_ServicesReceivedRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_13222622_2939277_1_1" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Settlement of liabilities by entity on behalf of related party, related party transactions</label>
    <label id="id_13222622_2939277_2_1" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Insurance premiums for policies with Grupo Nacional Provincial, S.A.B.</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:to="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember" xlink:label="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember" xlink:type="locator"/>
    <label id="id_13222622_3043798_3_1" xlink:label="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Seven point eight seven percentage debt bonds maturing on two thousand twenty seven.</label>
    <label id="id_13222622_3043798_1_1" xlink:label="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Seven point eight seven percentage debt bonds maturing on two thousand twenty seven [member]</label>
    <label id="id_13222622_3043798_2_1" xlink:label="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">7.87% debt bonds maturing on 2027 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember" xlink:to="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember" xlink:label="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992558_3_1" xlink:label="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Seven point four percentage fixed to seven point two percentage variable interest rate.</label>
    <label id="id_13222622_2992558_1_1" xlink:label="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Seven Point Four Percentage Fixed To Seven Point Two Percentage Variable Interest Rate [Member]</label>
    <label id="id_13222622_2992558_2_1" xlink:label="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">7.4% fixed to 7.2% variable interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember" xlink:to="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SeverancePayments" xlink:label="fmx_SeverancePayments" xlink:type="locator"/>
    <label id="id_13222622_2971155_3_1" xlink:label="fmx_SeverancePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Severance payments.</label>
    <label id="id_13222622_2971155_1_1" xlink:label="fmx_SeverancePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Severance payments</label>
    <label id="id_13222622_2971155_2_1" xlink:label="fmx_SeverancePayments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Severance payments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeverancePayments" xlink:to="fmx_SeverancePayments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ShareBasedPayments" xlink:label="fmx_ShareBasedPayments" xlink:type="locator"/>
    <label id="id_13222622_2948740_3_1" xlink:label="fmx_ShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share based payments.</label>
    <label id="id_13222622_2948740_1_1" xlink:label="fmx_ShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share based payments</label>
    <label id="id_13222622_2948740_14_1" xlink:label="fmx_ShareBasedPayments_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Share based payment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ShareBasedPayments" xlink:to="fmx_ShareBasedPayments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2938446_1_1" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of other comprehensive income of associates and joint ventures accounted for using equity method that will be reclassified to profit or loss, net of tax</label>
    <label id="id_13222622_2938446_2_1" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of other comprehensive (loss) income of associates and joint ventures</label>
    <label id="id_13222622_2938446_6_1" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2939388_1_1" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of other comprehensive income of associates and joint ventures accounted for using equity method that will not be reclassified to profit or loss, net of tax</label>
    <label id="id_13222622_2939388_2_1" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of other comprehensive income (loss) of associates and joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:to="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2938691_1_1" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of profit (loss) of associates accounted for using equity method</label>
    <label id="id_13222622_2938691_2_1" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income corresponding to the immaterial associates</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2939280_1_1" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of profit (loss) of associates and joint ventures accounted for using equity method</label>
    <label id="id_13222622_2939280_2_1" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share of the profit of associates and joint ventures accounted for using the equity method, net of taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2939389_1_1" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of profit (loss) from continuing operations of associates and joint ventures accounted for using equity method</label>
    <label id="id_13222622_2939389_2_1" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity income recognized from ownership interest, net of tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_13222622_2938693_1_1" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share of profit (loss) of joint ventures accounted for using equity method</label>
    <label id="id_13222622_2938693_2_1" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income (loss) corresponding to the immaterial joint ventures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:to="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SharePricePerShare" xlink:label="fmx_SharePricePerShare" xlink:type="locator"/>
    <label id="id_13222622_3019674_3_1" xlink:label="fmx_SharePricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share price per share.</label>
    <label id="id_13222622_3019674_1_1" xlink:label="fmx_SharePricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share price per share</label>
    <label id="id_13222622_3019674_2_1" xlink:label="fmx_SharePricePerShare_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SharePricePerShare" xlink:to="fmx_SharePricePerShare_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:label="ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:type="locator"/>
    <label id="id_13222622_2939392_1_1" xlink:label="ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares in entity held by entity or by its subsidiaries or associates</label>
    <label id="id_13222622_2939392_2_1" xlink:label="ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value of shares held by trust</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:to="ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ShareStrikePrice" xlink:label="fmx_ShareStrikePrice" xlink:type="locator"/>
    <label id="id_13222622_3019476_3_1" xlink:label="fmx_ShareStrikePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Share strike price.</label>
    <label id="id_13222622_3019476_1_1" xlink:label="fmx_ShareStrikePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Share Strike Price</label>
    <label id="id_13222622_3019476_2_1" xlink:label="fmx_ShareStrikePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share strike price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ShareStrikePrice" xlink:to="fmx_ShareStrikePrice_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings" xlink:type="locator"/>
    <label id="id_13222622_2938696_1_1" xlink:label="ifrs-full_ShorttermBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current borrowings</label>
    <label id="id_13222622_2938696_2_1" xlink:label="ifrs-full_ShorttermBorrowings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term debt</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermBorrowings" xlink:to="ifrs-full_ShorttermBorrowings_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ShortTermForeignCurrencyFinancialAssets" xlink:label="fmx_ShortTermForeignCurrencyFinancialAssets" xlink:type="locator"/>
    <label id="id_13222622_2950639_3_1" xlink:label="fmx_ShortTermForeignCurrencyFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Short term foreign currency financial assets.</label>
    <label id="id_13222622_2950639_1_1" xlink:label="fmx_ShortTermForeignCurrencyFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short Term Foreign Currency Financial Assets</label>
    <label id="id_13222622_2950639_2_1" xlink:label="fmx_ShortTermForeignCurrencyFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-Term Assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ShortTermForeignCurrencyFinancialAssets" xlink:to="fmx_ShortTermForeignCurrencyFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ShortTermForeignCurrencyFinancialLiabilities" xlink:label="fmx_ShortTermForeignCurrencyFinancialLiabilities" xlink:type="locator"/>
    <label id="id_13222622_2950637_3_1" xlink:label="fmx_ShortTermForeignCurrencyFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Short term foreign currency financial liabilities.</label>
    <label id="id_13222622_2950637_1_1" xlink:label="fmx_ShortTermForeignCurrencyFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short Term Foreign Currency Financial Liabilities</label>
    <label id="id_13222622_2950637_2_1" xlink:label="fmx_ShortTermForeignCurrencyFinancialLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-Term Liabilities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ShortTermForeignCurrencyFinancialLiabilities" xlink:to="fmx_ShortTermForeignCurrencyFinancialLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:type="locator"/>
    <label id="id_13222622_2938697_1_1" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short-term investments, classified as cash equivalents</label>
    <label id="id_13222622_2938697_2_1" xlink:label="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents" xlink:to="ifrs-full_ShorttermInvestmentsClassifiedAsCashEquivalents_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ShortTermLicenses" xlink:label="fmx_ShortTermLicenses" xlink:type="locator"/>
    <label id="id_13222622_2954455_3_1" xlink:label="fmx_ShortTermLicenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Short term.</label>
    <label id="id_13222622_2954455_1_1" xlink:label="fmx_ShortTermLicenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Short Term Licenses</label>
    <label id="id_13222622_2954455_2_1" xlink:label="fmx_ShortTermLicenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short-term licenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ShortTermLicenses" xlink:to="fmx_ShortTermLicenses_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <label id="id_13222622_2939401_1_1" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Associates [axis]</label>
    <label id="id_13222622_2939401_2_1" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Associates [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:to="ifrs-full_SignificantInvestmentsInAssociatesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <label id="id_13222622_2938455_1_1" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</label>
    <label id="id_13222622_2938455_2_1" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsidiaries [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:to="ifrs-full_SignificantInvestmentsInSubsidiariesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember" xlink:label="fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992551_3_1" xlink:label="fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Six point zero percentage fixed to five point nine percentage variable interest rate.</label>
    <label id="id_13222622_2992551_1_1" xlink:label="fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Six Point Zero Percentage Fixed To Five Point Nine Percentage Variable Interest Rate [Member]</label>
    <label id="id_13222622_2992551_2_1" xlink:label="fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.0% fixed to 5.9% variable interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember" xlink:to="fmx_SixPointZeroPercentageFixedToFivePointNinePercentageVariableInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SocialSecurityContributions" xlink:label="ifrs-full_SocialSecurityContributions" xlink:type="locator"/>
    <label id="id_13222622_2938456_1_1" xlink:label="ifrs-full_SocialSecurityContributions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Social security contributions</label>
    <label id="id_13222622_2938456_2_1" xlink:label="ifrs-full_SocialSecurityContributions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Social security costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SocialSecurityContributions" xlink:to="ifrs-full_SocialSecurityContributions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SouthAmericaMember" xlink:label="us-gaap_SouthAmericaMember" xlink:type="locator"/>
    <label id="id_13222622_2932929_1_1" xlink:label="us-gaap_SouthAmericaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">South America [Member]</label>
    <label id="id_13222622_2932929_2_1" xlink:label="us-gaap_SouthAmericaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">South America [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SouthAmericaMember" xlink:to="us-gaap_SouthAmericaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SpalIndustriaBrasileriaDeBebidasMember" xlink:label="fmx_SpalIndustriaBrasileriaDeBebidasMember" xlink:type="locator"/>
    <label id="id_13222622_3050781_3_1" xlink:label="fmx_SpalIndustriaBrasileriaDeBebidasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Spal Industria Brasileria de Bebidas, S.A.</label>
    <label id="id_13222622_3050781_1_1" xlink:label="fmx_SpalIndustriaBrasileriaDeBebidasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spal Industria Brasileria de Bebidas, S.A.[member]</label>
    <label id="id_13222622_3050781_2_1" xlink:label="fmx_SpalIndustriaBrasileriaDeBebidasMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spal Industria Brasileria de Bebidas, S.A.[member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SpalIndustriaBrasileriaDeBebidasMember" xlink:to="fmx_SpalIndustriaBrasileriaDeBebidasMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SpalMember" xlink:label="fmx_SpalMember" xlink:type="locator"/>
    <label id="id_13222622_2992148_3_1" xlink:label="fmx_SpalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Spal.</label>
    <label id="id_13222622_2992148_1_1" xlink:label="fmx_SpalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Spal [Member]</label>
    <label id="id_13222622_2992148_2_1" xlink:label="fmx_SpalMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spal [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SpalMember" xlink:to="fmx_SpalMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SpareParts" xlink:label="ifrs-full_SpareParts" xlink:type="locator"/>
    <label id="id_13222622_2938699_1_1" xlink:label="ifrs-full_SpareParts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current spare parts</label>
    <label id="id_13222622_2938699_2_1" xlink:label="ifrs-full_SpareParts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Spare parts</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SpareParts" xlink:to="ifrs-full_SpareParts_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SpecialTaxRateForFinancialTransaction" xlink:label="fmx_SpecialTaxRateForFinancialTransaction" xlink:type="locator"/>
    <label id="id_13222622_3021126_3_1" xlink:label="fmx_SpecialTaxRateForFinancialTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Special tax rate for financial transaction.</label>
    <label id="id_13222622_3021126_1_1" xlink:label="fmx_SpecialTaxRateForFinancialTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Special Tax Rate For Financial Transaction</label>
    <label id="id_13222622_3021126_2_1" xlink:label="fmx_SpecialTaxRateForFinancialTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Special tax rate for financial transaction</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SpecialTaxRateForFinancialTransaction" xlink:to="fmx_SpecialTaxRateForFinancialTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SpecialtysCafeAndBakeryIncorporationMember" xlink:label="fmx_SpecialtysCafeAndBakeryIncorporationMember" xlink:type="locator"/>
    <label id="id_13222622_2990380_3_1" xlink:label="fmx_SpecialtysCafeAndBakeryIncorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Specialtys Cafe and Bakery Inc.</label>
    <label id="id_13222622_2990380_1_1" xlink:label="fmx_SpecialtysCafeAndBakeryIncorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Specialtys Cafe And Bakery Incorporation [Member]</label>
    <label id="id_13222622_2990380_2_1" xlink:label="fmx_SpecialtysCafeAndBakeryIncorporationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Specialtys Cafe and Bakery Inc [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SpecialtysCafeAndBakeryIncorporationMember" xlink:to="fmx_SpecialtysCafeAndBakeryIncorporationMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementClassOfStockAxis" xlink:label="us-gaap_StatementClassOfStockAxis" xlink:type="locator"/>
    <label id="id_13222622_2932724_1_1" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</label>
    <label id="id_13222622_2932724_2_1" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Class of Stock [Axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementLineItems" xlink:label="us-gaap_StatementLineItems" xlink:type="locator"/>
    <label id="id_13222622_2932443_1_1" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</label>
    <label id="id_13222622_2932443_2_1" xlink:label="us-gaap_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Line Items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938700_1_1" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</label>
    <label id="id_13222622_2938700_2_1" xlink:label="ifrs-full_StatementOfCashFlowsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of cash flows [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfCashFlowsAbstract" xlink:to="ifrs-full_StatementOfCashFlowsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938457_1_1" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</label>
    <label id="id_13222622_2938457_2_1" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityAbstract" xlink:to="ifrs-full_StatementOfChangesInEquityAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="locator"/>
    <label id="id_13222622_2939282_1_1" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [line items]</label>
    <label id="id_13222622_2939282_2_1" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityLineItems" xlink:to="ifrs-full_StatementOfChangesInEquityLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="ifrs-full_StatementOfChangesInEquityTable" xlink:type="locator"/>
    <label id="id_13222622_2938701_1_1" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [table]</label>
    <label id="id_13222622_2938701_2_1" xlink:label="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of changes in equity [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfChangesInEquityTable" xlink:to="ifrs-full_StatementOfChangesInEquityTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938458_1_1" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of comprehensive income [abstract]</label>
    <label id="id_13222622_2938458_2_1" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of comprehensive income [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:to="ifrs-full_StatementOfComprehensiveIncomeAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <label id="id_13222622_2938702_1_1" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</label>
    <label id="id_13222622_2938702_2_1" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement of financial position [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatementOfFinancialPositionAbstract" xlink:to="ifrs-full_StatementOfFinancialPositionAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_StatementTable" xlink:label="us-gaap_StatementTable" xlink:type="locator"/>
    <label id="id_13222622_2932188_1_1" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</label>
    <label id="id_13222622_2932188_2_1" xlink:label="us-gaap_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [Table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_StatutoryReserve" xlink:label="ifrs-full_StatutoryReserve" xlink:type="locator"/>
    <label id="id_13222622_2939291_1_1" xlink:label="ifrs-full_StatutoryReserve_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statutory reserve</label>
    <label id="id_13222622_2939291_2_1" xlink:label="ifrs-full_StatutoryReserve_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reserve distributed as stock dividend</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_StatutoryReserve" xlink:to="ifrs-full_StatutoryReserve_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_SubsequentEventMember" xlink:label="us-gaap_SubsequentEventMember" xlink:type="locator"/>
    <label id="id_13222622_2932774_1_1" xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</label>
    <label id="id_13222622_2932774_2_1" xlink:label="us-gaap_SubsequentEventMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Subsequent Event [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SubsidiariesActivities" xlink:label="fmx_SubsidiariesActivities" xlink:type="locator"/>
    <label id="id_13222622_2974939_3_1" xlink:label="fmx_SubsidiariesActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Subsidiaries activities.</label>
    <label id="id_13222622_2974939_1_1" xlink:label="fmx_SubsidiariesActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries Activities</label>
    <label id="id_13222622_2974939_2_1" xlink:label="fmx_SubsidiariesActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Activities</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SubsidiariesActivities" xlink:to="fmx_SubsidiariesActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SubsidiariesMember" xlink:label="ifrs-full_SubsidiariesMember" xlink:type="locator"/>
    <label id="id_13222622_2938463_1_1" xlink:label="ifrs-full_SubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Subsidiaries [member]</label>
    <label id="id_13222622_2938463_2_1" xlink:label="ifrs-full_SubsidiariesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mexican subsidiaries [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SubsidiariesMember" xlink:to="ifrs-full_SubsidiariesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SugarCansAndAluminumLidsMember" xlink:label="fmx_SugarCansAndAluminumLidsMember" xlink:type="locator"/>
    <label id="id_13222622_2986980_3_1" xlink:label="fmx_SugarCansAndAluminumLidsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sugar Cans And Aluminum Lids [Member]</label>
    <label id="id_13222622_2986980_1_1" xlink:label="fmx_SugarCansAndAluminumLidsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sugar Cans And Aluminum Lids [Member]</label>
    <label id="id_13222622_2986980_2_1" xlink:label="fmx_SugarCansAndAluminumLidsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sugar, cans and aluminum lids [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SugarCansAndAluminumLidsMember" xlink:to="fmx_SugarCansAndAluminumLidsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SugarMember" xlink:label="fmx_SugarMember" xlink:type="locator"/>
    <label id="id_13222622_2986986_3_1" xlink:label="fmx_SugarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sugar.</label>
    <label id="id_13222622_2986986_1_1" xlink:label="fmx_SugarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sugar [Member]</label>
    <label id="id_13222622_2986986_2_1" xlink:label="fmx_SugarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sugar [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SugarMember" xlink:to="fmx_SugarMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SugarPriceContractsMember" xlink:label="fmx_SugarPriceContractsMember" xlink:type="locator"/>
    <label id="id_13222622_2984538_3_1" xlink:label="fmx_SugarPriceContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sugar price contracts.</label>
    <label id="id_13222622_2984538_1_1" xlink:label="fmx_SugarPriceContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sugar Price Contracts [Member]</label>
    <label id="id_13222622_2984538_2_1" xlink:label="fmx_SugarPriceContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sugar Price Contracts [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SugarPriceContractsMember" xlink:to="fmx_SugarPriceContractsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_SuppliersProvisions" xlink:label="fmx_SuppliersProvisions" xlink:type="locator"/>
    <label id="id_13222622_3050801_3_1" xlink:label="fmx_SuppliersProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Suppliers provisions.</label>
    <label id="id_13222622_3050801_1_1" xlink:label="fmx_SuppliersProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Suppliers provisions</label>
    <label id="id_13222622_3050801_2_1" xlink:label="fmx_SuppliersProvisions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Suppliers provisions</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SuppliersProvisions" xlink:to="fmx_SuppliersProvisions_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_SurplusDeficitInPlanAbstract" xlink:label="ifrs-full_SurplusDeficitInPlanAbstract" xlink:type="locator"/>
    <label id="id_13222622_2939413_1_1" xlink:label="ifrs-full_SurplusDeficitInPlanAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Surplus (deficit) in plan [abstract]</label>
    <label id="id_13222622_2939413_2_1" xlink:label="ifrs-full_SurplusDeficitInPlanAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_SurplusDeficitInPlanAbstract" xlink:to="ifrs-full_SurplusDeficitInPlanAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxContingenciesAmount" xlink:label="fmx_TaxContingenciesAmount" xlink:type="locator"/>
    <label id="id_13222622_2949353_3_1" xlink:label="fmx_TaxContingenciesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax contingencies amount.</label>
    <label id="id_13222622_2949353_1_1" xlink:label="fmx_TaxContingenciesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax contingencies amount</label>
    <label id="id_13222622_2949353_2_1" xlink:label="fmx_TaxContingenciesAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax contingencies amount</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxContingenciesAmount" xlink:to="fmx_TaxContingenciesAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxCreditsMember" xlink:label="fmx_TaxCreditsMember" xlink:type="locator"/>
    <label id="id_13222622_2997866_3_1" xlink:label="fmx_TaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax credits.</label>
    <label id="id_13222622_2997866_1_1" xlink:label="fmx_TaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Credits [member]</label>
    <label id="id_13222622_2997866_2_1" xlink:label="fmx_TaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax credits [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxCreditsMember" xlink:to="fmx_TaxCreditsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxCreditsToRecoverMember" xlink:label="fmx_TaxCreditsToRecoverMember" xlink:type="locator"/>
    <label id="id_13222622_2998557_3_1" xlink:label="fmx_TaxCreditsToRecoverMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax credits to recover.</label>
    <label id="id_13222622_2998557_1_1" xlink:label="fmx_TaxCreditsToRecoverMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Credits To Recover [Member]</label>
    <label id="id_13222622_2998557_2_1" xlink:label="fmx_TaxCreditsToRecoverMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax credits to recover [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxCreditsToRecoverMember" xlink:to="fmx_TaxCreditsToRecoverMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxesPayable" xlink:label="fmx_TaxesPayable" xlink:type="locator"/>
    <label id="id_13222622_2962091_3_1" xlink:label="fmx_TaxesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Taxes payable.</label>
    <label id="id_13222622_2962091_1_1" xlink:label="fmx_TaxesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taxes payable</label>
    <label id="id_13222622_2962091_2_1" xlink:label="fmx_TaxesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taxes payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxesPayable" xlink:to="fmx_TaxesPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxesPayableDueInTaxClaims" xlink:label="fmx_TaxesPayableDueInTaxClaims" xlink:type="locator"/>
    <label id="id_13222622_2956428_3_1" xlink:label="fmx_TaxesPayableDueInTaxClaims_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Taxes payable due in tax claims.</label>
    <label id="id_13222622_2956428_1_1" xlink:label="fmx_TaxesPayableDueInTaxClaims_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Taxes Payable Due In Tax Claims</label>
    <label id="id_13222622_2956428_2_1" xlink:label="fmx_TaxesPayableDueInTaxClaims_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax claims</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxesPayableDueInTaxClaims" xlink:to="fmx_TaxesPayableDueInTaxClaims_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:type="locator"/>
    <label id="id_13222622_2939417_1_1" xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax expense other than income tax expense</label>
    <label id="id_13222622_2939417_2_1" xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-income taxes from Colombia</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:to="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossCarryForwardsMember" xlink:label="fmx_TaxLossCarryForwardsMember" xlink:type="locator"/>
    <label id="id_13222622_2997631_3_1" xlink:label="fmx_TaxLossCarryForwardsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards.</label>
    <label id="id_13222622_2997631_1_1" xlink:label="fmx_TaxLossCarryForwardsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards [member]</label>
    <label id="id_13222622_2997631_2_1" xlink:label="fmx_TaxLossCarryForwardsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Tax loss carry forwards [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossCarryForwardsMember" xlink:to="fmx_TaxLossCarryForwardsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearEight" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearEight" xlink:type="locator"/>
    <label id="id_13222622_2947188_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearEight_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year eight.</label>
    <label id="id_13222622_2947188_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearEight_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Eight</label>
    <label id="id_13222622_2947188_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearEight_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2025</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearEight" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearEight_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearFive" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFive" xlink:type="locator"/>
    <label id="id_13222622_2947185_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year five.</label>
    <label id="id_13222622_2947185_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Five</label>
    <label id="id_13222622_2947185_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFive_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2022</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearFive" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearFive_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearFour" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFour" xlink:type="locator"/>
    <label id="id_13222622_2947184_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year four.</label>
    <label id="id_13222622_2947184_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Four</label>
    <label id="id_13222622_2947184_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFour_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearFour" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearFour_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter" xlink:type="locator"/>
    <label id="id_13222622_2947190_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year nine and thereafter.</label>
    <label id="id_13222622_2947190_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Nine And Thereafter</label>
    <label id="id_13222622_2947190_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026 and thereafter</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearNineAndThereafter_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearOne" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearOne" xlink:type="locator"/>
    <label id="id_13222622_2947181_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearOne_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year one.</label>
    <label id="id_13222622_2947181_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearOne_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year One</label>
    <label id="id_13222622_2947181_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearOne_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearOne" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearOne_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearSeven" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven" xlink:type="locator"/>
    <label id="id_13222622_2947187_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year seven.</label>
    <label id="id_13222622_2947187_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Seven</label>
    <label id="id_13222622_2947187_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2024</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearSix" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSix" xlink:type="locator"/>
    <label id="id_13222622_2947186_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSix_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year six.</label>
    <label id="id_13222622_2947186_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSix_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Six</label>
    <label id="id_13222622_2947186_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSix_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2023</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearSix" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearSix_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearThree" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearThree" xlink:type="locator"/>
    <label id="id_13222622_2947183_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year three.</label>
    <label id="id_13222622_2947183_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Three</label>
    <label id="id_13222622_2947183_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearThree" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearThree_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearTwo" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo" xlink:type="locator"/>
    <label id="id_13222622_2947182_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carried forward which expire in year two.</label>
    <label id="id_13222622_2947182_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carried Forward Which Expire In Year Two</label>
    <label id="id_13222622_2947182_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2019</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxLossesCarryforward" xlink:label="fmx_TaxLossesCarryforward" xlink:type="locator"/>
    <label id="id_13222622_2950939_3_1" xlink:label="fmx_TaxLossesCarryforward_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax losses carryforward.</label>
    <label id="id_13222622_2950939_1_1" xlink:label="fmx_TaxLossesCarryforward_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax Losses Carryforward</label>
    <label id="id_13222622_2950939_6_1" xlink:label="fmx_TaxLossesCarryforward_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Tax Loss Carryforwards</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarryforward" xlink:to="fmx_TaxLossesCarryforward_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:type="locator"/>
    <label id="id_13222622_2938712_1_1" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax rate effect from change in tax rate</label>
    <label id="id_13222622_2938712_2_1" xlink:label="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Change in tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxRateEffectFromChangeInTaxRate" xlink:to="ifrs-full_TaxRateEffectFromChangeInTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TaxRateEffectOfAnnualInflationTaxAdjustment" xlink:label="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment" xlink:type="locator"/>
    <label id="id_13222622_3020600_3_1" xlink:label="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Tax rate effect of annual inflation tax adjustment.</label>
    <label id="id_13222622_3020600_1_1" xlink:label="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax rate effect of annual inflation tax adjustment</label>
    <label id="id_13222622_3020600_2_1" xlink:label="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Annual inflation tax adjustment</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment" xlink:to="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TechnologyCostsAndManagementSystemsMember" xlink:label="fmx_TechnologyCostsAndManagementSystemsMember" xlink:type="locator"/>
    <label id="id_13222622_2990591_3_1" xlink:label="fmx_TechnologyCostsAndManagementSystemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Technology costs and management systems.</label>
    <label id="id_13222622_2990591_1_1" xlink:label="fmx_TechnologyCostsAndManagementSystemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Technology Costs And Management Systems [Member]</label>
    <label id="id_13222622_2990591_2_1" xlink:label="fmx_TechnologyCostsAndManagementSystemsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Technology costs and management systems [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TechnologyCostsAndManagementSystemsMember" xlink:to="fmx_TechnologyCostsAndManagementSystemsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:type="locator"/>
    <label id="id_13222622_2938472_1_1" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary differences associated with investments in subsidiaries, branches and associates and interests in joint arrangements for which deferred tax liabilities have not been recognised</label>
    <label id="id_13222622_2938472_2_1" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Temporary differences associated with investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:to="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:type="locator"/>
    <label id="id_13222622_2939420_1_1" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <label id="id_13222622_2939420_2_1" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:type="locator"/>
    <label id="id_13222622_2939421_1_1" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [member]</label>
    <label id="id_13222622_2939421_2_1" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Temporary difference, unused tax losses and unused tax credits [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:to="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TemporaryNonDeductibleProvisionMember" xlink:label="fmx_TemporaryNonDeductibleProvisionMember" xlink:type="locator"/>
    <label id="id_13222622_2998555_3_1" xlink:label="fmx_TemporaryNonDeductibleProvisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Temporary non deductible provision.</label>
    <label id="id_13222622_2998555_1_1" xlink:label="fmx_TemporaryNonDeductibleProvisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Temporary Non Deductible Provision [Member]</label>
    <label id="id_13222622_2998555_2_1" xlink:label="fmx_TemporaryNonDeductibleProvisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Temporary non-deductible provision [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TemporaryNonDeductibleProvisionMember" xlink:to="fmx_TemporaryNonDeductibleProvisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" xlink:type="locator"/>
    <label id="id_13222622_2939140_1_1" xlink:label="ifrs-full_TerminationBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Termination benefits expense</label>
    <label id="id_13222622_2939140_2_1" xlink:label="ifrs-full_TerminationBenefitsExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Termination benefits</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TerminationBenefitsExpense" xlink:to="ifrs-full_TerminationBenefitsExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TermOfRenewalOptionForRelatedPartyTransaction" xlink:label="fmx_TermOfRenewalOptionForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_13222622_2977482_3_1" xlink:label="fmx_TermOfRenewalOptionForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Term of renewal option for related party transaction.</label>
    <label id="id_13222622_2977482_1_1" xlink:label="fmx_TermOfRenewalOptionForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Term Of Renewal Option For Related Party Transaction</label>
    <label id="id_13222622_2977482_2_1" xlink:label="fmx_TermOfRenewalOptionForRelatedPartyTransaction_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Renewal option for supply contract</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TermOfRenewalOptionForRelatedPartyTransaction" xlink:to="fmx_TermOfRenewalOptionForRelatedPartyTransaction_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TextBlock1Abstract" xlink:label="fmx_TextBlock1Abstract" xlink:type="locator"/>
    <label id="id_13222622_2942661_3_1" xlink:label="fmx_TextBlock1Abstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block1 [abstract]</label>
    <label id="id_13222622_2942661_1_1" xlink:label="fmx_TextBlock1Abstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Text block1 [abstract]</label>
    <label id="id_13222622_2942661_2_1" xlink:label="fmx_TextBlock1Abstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Text Block [Abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TextBlock1Abstract" xlink:to="fmx_TextBlock1Abstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember" xlink:label="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember" xlink:type="locator"/>
    <label id="id_13222622_2984598_3_1" xlink:label="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Three Point Eight Eight Percentage Senior Notes Maturing On November Twenty Six Two Thousand Twenty Three [Member]</label>
    <label id="id_13222622_2984598_1_1" xlink:label="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Three Point Eight Eight Percentage Senior Notes Maturing On November Twenty Six Two Thousand Twenty Three [Member]</label>
    <label id="id_13222622_2984598_2_1" xlink:label="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Three Point Eight Eight Percentage Senior Notes Maturing On November Twenty Six Two Thousand Twenty Three [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember" xlink:to="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember" xlink:label="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember" xlink:type="locator"/>
    <label id="id_13222622_3043797_3_1" xlink:label="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">TIIE plus zero point five percentage debt bonds maturing on two thousand twenty two.</label>
    <label id="id_13222622_3043797_1_1" xlink:label="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">TIIE plus zero point five percentage debt bonds maturing on two thousand twenty two [Member]</label>
    <label id="id_13222622_3043797_2_1" xlink:label="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">TIIE plus 0.5% debt bonds maturing on 2022 [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember" xlink:to="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TimePeriodForKeepingBooksAndAccountingRecords" xlink:label="fmx_TimePeriodForKeepingBooksAndAccountingRecords" xlink:type="locator"/>
    <label id="id_13222622_3044474_3_1" xlink:label="fmx_TimePeriodForKeepingBooksAndAccountingRecords_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Time period for keeping books and accounting records.</label>
    <label id="id_13222622_3044474_1_1" xlink:label="fmx_TimePeriodForKeepingBooksAndAccountingRecords_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Time period for keeping books and accounting records</label>
    <label id="id_13222622_3044474_2_1" xlink:label="fmx_TimePeriodForKeepingBooksAndAccountingRecords_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Time period for keeping books and accounting records</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TimePeriodForKeepingBooksAndAccountingRecords" xlink:to="fmx_TimePeriodForKeepingBooksAndAccountingRecords_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <label id="id_13222622_2939141_1_1" xlink:label="ifrs-full_TopOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Top of range [member]</label>
    <label id="id_13222622_2939141_2_1" xlink:label="ifrs-full_TopOfRangeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Top of range [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TopOfRangeMember" xlink:to="ifrs-full_TopOfRangeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="locator"/>
    <label id="id_13222622_2939143_1_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other current receivables</label>
    <label id="id_13222622_2939143_6_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Accounts receivable, Net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivables" xlink:to="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:type="locator"/>
    <label id="id_13222622_2939426_1_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other current receivables [abstract]</label>
    <label id="id_13222622_2939426_2_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade and other current receivables [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <label id="id_13222622_2938475_1_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current receivables due from related parties</label>
    <label id="id_13222622_2938475_2_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Receivables from related parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:to="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_13222622_2939427_1_1" xlink:label="ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other payables recognised as of acquisition date</label>
    <label id="id_13222622_2939427_2_1" xlink:label="ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other liabilities as of acquisition date</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" xlink:to="ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:type="locator"/>
    <label id="id_13222622_2939144_1_1" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade payables</label>
    <label id="id_13222622_2939144_2_1" xlink:label="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Suppliers</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherPayablesToTradeSuppliers" xlink:to="ifrs-full_TradeAndOtherPayablesToTradeSuppliers_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherReceivables" xlink:label="ifrs-full_TradeAndOtherReceivables" xlink:type="locator"/>
    <label id="id_13222622_2939429_1_1" xlink:label="ifrs-full_TradeAndOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other receivables</label>
    <label id="id_13222622_2939429_2_1" xlink:label="ifrs-full_TradeAndOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Short term note receivable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherReceivables" xlink:to="ifrs-full_TradeAndOtherReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <label id="id_13222622_2939308_1_1" xlink:label="ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Receivables due from related parties</label>
    <label id="id_13222622_2939308_2_1" xlink:label="ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contributions from related parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:to="ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TradedSecuritiesMember" xlink:label="fmx_TradedSecuritiesMember" xlink:type="locator"/>
    <label id="id_13222622_2996423_3_1" xlink:label="fmx_TradedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Traded securities.</label>
    <label id="id_13222622_2996423_1_1" xlink:label="fmx_TradedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Traded Securities [Member]</label>
    <label id="id_13222622_2996423_2_1" xlink:label="fmx_TradedSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Traded Securities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TradedSecuritiesMember" xlink:to="fmx_TradedSecuritiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TradeReceivablesMember" xlink:label="ifrs-full_TradeReceivablesMember" xlink:type="locator"/>
    <label id="id_13222622_2938477_1_1" xlink:label="ifrs-full_TradeReceivablesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables [member]</label>
    <label id="id_13222622_2938477_2_1" xlink:label="ifrs-full_TradeReceivablesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade receivables [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivablesMember" xlink:to="ifrs-full_TradeReceivablesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <label id="id_13222622_2934526_1_1" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trading Symbol</label>
    <label id="id_13222622_2934526_2_1" xlink:label="dei_TradingSymbol_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trading Symbol</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" xlink:type="locator"/>
    <label id="id_13222622_2939153_1_1" xlink:label="ifrs-full_TreasuryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Treasury shares</label>
    <label id="id_13222622_2939153_2_1" xlink:label="ifrs-full_TreasuryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Repurchased shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TreasuryShares" xlink:to="ifrs-full_TreasuryShares_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TrustAssetsFixedAndVariableReturnPercentage" xlink:label="fmx_TrustAssetsFixedAndVariableReturnPercentage" xlink:type="locator"/>
    <label id="id_13222622_3024269_3_1" xlink:label="fmx_TrustAssetsFixedAndVariableReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust assets fixed and variable return percentage.</label>
    <label id="id_13222622_3024269_1_1" xlink:label="fmx_TrustAssetsFixedAndVariableReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Assets Fixed And Variable Return Percentage</label>
    <label id="id_13222622_3024269_6_1" xlink:label="fmx_TrustAssetsFixedAndVariableReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Trust assets fixed and variable return percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TrustAssetsFixedAndVariableReturnPercentage" xlink:to="fmx_TrustAssetsFixedAndVariableReturnPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TrustAssetsFixedReturnPercentage" xlink:label="fmx_TrustAssetsFixedReturnPercentage" xlink:type="locator"/>
    <label id="id_13222622_3024267_3_1" xlink:label="fmx_TrustAssetsFixedReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust assets fixed return percentage.</label>
    <label id="id_13222622_3024267_1_1" xlink:label="fmx_TrustAssetsFixedReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Assets Fixed Return Percentage</label>
    <label id="id_13222622_3024267_2_1" xlink:label="fmx_TrustAssetsFixedReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trust assets fixed return percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TrustAssetsFixedReturnPercentage" xlink:to="fmx_TrustAssetsFixedReturnPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TrustAssetsVariableReturnPercentage" xlink:label="fmx_TrustAssetsVariableReturnPercentage" xlink:type="locator"/>
    <label id="id_13222622_3024268_3_1" xlink:label="fmx_TrustAssetsVariableReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Trust assets variable return percentage.</label>
    <label id="id_13222622_3024268_1_1" xlink:label="fmx_TrustAssetsVariableReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trust Assets Variable Return Percentage</label>
    <label id="id_13222622_3024268_2_1" xlink:label="fmx_TrustAssetsVariableReturnPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trust assets variable return percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TrustAssetsVariableReturnPercentage" xlink:to="fmx_TrustAssetsVariableReturnPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember" xlink:label="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember" xlink:type="locator"/>
    <label id="id_13222622_3043800_3_1" xlink:label="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two point three eight percentage debt bonds maturing on two thousand eighteen.</label>
    <label id="id_13222622_3043800_1_1" xlink:label="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two point three eight percentage debt bonds maturing on two thousand eighteen [member]</label>
    <label id="id_13222622_3043800_2_1" xlink:label="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2.38% debt bonds maturing on 2018 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember" xlink:to="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember" xlink:label="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember" xlink:type="locator"/>
    <label id="id_13222622_2984595_3_1" xlink:label="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two Point Three Eight Percentage Senior Notes Maturing On November Twenty Six Two Thousand Eighteen [Member]</label>
    <label id="id_13222622_2984595_1_1" xlink:label="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Point Three Eight Percentage Senior Notes Maturing On November Twenty Six Two Thousand Eighteen [Member]</label>
    <label id="id_13222622_2984595_2_1" xlink:label="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Two Point Three Eight Percentage Senior Notes Maturing On November Twenty Six Two Thousand Eighteen [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember" xlink:to="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoThousandEighteenToTwoThousandTwentySevenMember" xlink:label="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember" xlink:type="locator"/>
    <label id="id_13222622_3045174_3_1" xlink:label="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two thousand eighteen to two thousand twenty seven.</label>
    <label id="id_13222622_3045174_1_1" xlink:label="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Thousand Eighteen to Two Thousand Twenty Seven [Member]</label>
    <label id="id_13222622_3045174_2_1" xlink:label="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2018 - 2027 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember" xlink:to="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoThousandFifteenToTwoThousandSeventeenMember" xlink:label="fmx_TwoThousandFifteenToTwoThousandSeventeenMember" xlink:type="locator"/>
    <label id="id_13222622_3045006_3_1" xlink:label="fmx_TwoThousandFifteenToTwoThousandSeventeenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two Thousand Fifteen To Two Thousand Seventeen [member]</label>
    <label id="id_13222622_3045006_1_1" xlink:label="fmx_TwoThousandFifteenToTwoThousandSeventeenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Thousand Fifteen To Two Thousand Seventeen [member]</label>
    <label id="id_13222622_3045006_2_1" xlink:label="fmx_TwoThousandFifteenToTwoThousandSeventeenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2015 - 2017 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoThousandFifteenToTwoThousandSeventeenMember" xlink:to="fmx_TwoThousandFifteenToTwoThousandSeventeenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoThousandFourteenToTwoThousandSixteenMember" xlink:label="fmx_TwoThousandFourteenToTwoThousandSixteenMember" xlink:type="locator"/>
    <label id="id_13222622_2984268_3_1" xlink:label="fmx_TwoThousandFourteenToTwoThousandSixteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two Thousand Fourteen To Two Thousand Sixteen.</label>
    <label id="id_13222622_2984268_1_1" xlink:label="fmx_TwoThousandFourteenToTwoThousandSixteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Thousand Fourteen To Two Thousand Sixteen [member]</label>
    <label id="id_13222622_2984268_2_1" xlink:label="fmx_TwoThousandFourteenToTwoThousandSixteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2014-2016 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoThousandFourteenToTwoThousandSixteenMember" xlink:to="fmx_TwoThousandFourteenToTwoThousandSixteenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoThousandSeventeenToTwoThousandTwentySixMember" xlink:label="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember" xlink:type="locator"/>
    <label id="id_13222622_2983380_3_1" xlink:label="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">2017-2026.</label>
    <label id="id_13222622_2983380_1_1" xlink:label="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Thousand Seventeen To Two Thousand Twenty Six [Member]</label>
    <label id="id_13222622_2983380_2_1" xlink:label="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2017 - 2026 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember" xlink:to="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_TwoThousandThirteenToTwoThousandFifteenMember" xlink:label="fmx_TwoThousandThirteenToTwoThousandFifteenMember" xlink:type="locator"/>
    <label id="id_13222622_2984270_3_1" xlink:label="fmx_TwoThousandThirteenToTwoThousandFifteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two thousand thirteen to two thousand fifteen.</label>
    <label id="id_13222622_2984270_1_1" xlink:label="fmx_TwoThousandThirteenToTwoThousandFifteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Thousand Thirteen To Two Thousand Fifteen [member]</label>
    <label id="id_13222622_2984270_2_1" xlink:label="fmx_TwoThousandThirteenToTwoThousandFifteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2013-2015 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoThousandThirteenToTwoThousandFifteenMember" xlink:to="fmx_TwoThousandThirteenToTwoThousandFifteenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_13222622_2939156_1_1" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of financial liabilities [axis]</label>
    <label id="id_13222622_2939156_2_1" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of financial liabilities [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:to="ifrs-full_TypesOfFinancialLiabilitiesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfInstrumentMember" xlink:label="ifrs-full_TypesOfInstrumentMember" xlink:type="locator"/>
    <label id="id_13222622_2939157_1_1" xlink:label="ifrs-full_TypesOfInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of instrument [member]</label>
    <label id="id_13222622_2939157_2_1" xlink:label="ifrs-full_TypesOfInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of instrument [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInstrumentMember" xlink:to="ifrs-full_TypesOfInstrumentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <label id="id_13222622_2939328_1_1" xlink:label="ifrs-full_TypesOfInterestRatesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of interest rates [axis]</label>
    <label id="id_13222622_2939328_2_1" xlink:label="ifrs-full_TypesOfInterestRatesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of interest rates [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfInterestRatesAxis" xlink:to="ifrs-full_TypesOfInterestRatesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <label id="id_13222622_2939160_1_1" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of risks [axis]</label>
    <label id="id_13222622_2939160_2_1" xlink:label="ifrs-full_TypesOfRisksAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of risks [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksAxis" xlink:to="ifrs-full_TypesOfRisksAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <label id="id_13222622_2939442_1_1" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risks [member]</label>
    <label id="id_13222622_2939442_2_1" xlink:label="ifrs-full_TypesOfRisksMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risks [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfRisksMember" xlink:to="ifrs-full_TypesOfRisksMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UBI3ParticipacoesLTDAMember" xlink:label="fmx_UBI3ParticipacoesLTDAMember" xlink:type="locator"/>
    <label id="id_13222622_3043776_3_1" xlink:label="fmx_UBI3ParticipacoesLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">UBI 3 Participacoes, LTDA.</label>
    <label id="id_13222622_3043776_1_1" xlink:label="fmx_UBI3ParticipacoesLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UBI 3 Participacoes, LTDA [Member]</label>
    <label id="id_13222622_3043776_2_1" xlink:label="fmx_UBI3ParticipacoesLTDAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">UBI 3 Participacoes, LTDA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UBI3ParticipacoesLTDAMember" xlink:to="fmx_UBI3ParticipacoesLTDAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnamortisedIntangibleAssetsMember" xlink:label="fmx_UnamortisedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_13222622_2990590_3_1" xlink:label="fmx_UnamortisedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Total unamortized intangible assets.</label>
    <label id="id_13222622_2990590_1_1" xlink:label="fmx_UnamortisedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unamortised Intangible Assets [Member]</label>
    <label id="id_13222622_2990590_2_1" xlink:label="fmx_UnamortisedIntangibleAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total unamortized intangible assets [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnamortisedIntangibleAssetsMember" xlink:to="fmx_UnamortisedIntangibleAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:type="locator"/>
    <label id="id_13222622_2939167_1_1" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Undiscounted operating lease payments to be received</label>
    <label id="id_13222622_2939167_2_1" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contractual maturities of operating lease commitments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:to="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnhedgedPortionBankLoansMember" xlink:label="fmx_UnhedgedPortionBankLoansMember" xlink:type="locator"/>
    <label id="id_13222622_3002787_3_1" xlink:label="fmx_UnhedgedPortionBankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unhedged portion bank loans.</label>
    <label id="id_13222622_3002787_1_1" xlink:label="fmx_UnhedgedPortionBankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unhedged Portion Bank Loans [Member]</label>
    <label id="id_13222622_3002787_2_1" xlink:label="fmx_UnhedgedPortionBankLoansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unhedged Portion Bank Loans [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnhedgedPortionBankLoansMember" xlink:to="fmx_UnhedgedPortionBankLoansMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember" xlink:label="fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992549_3_1" xlink:label="fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unit of investment to mexican pesos and variable rate.</label>
    <label id="id_13222622_2992549_1_1" xlink:label="fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unit Of Investment To Mexican Pesos And Variable Rate [Member]</label>
    <label id="id_13222622_2992549_2_1" xlink:label="fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Units of investments to Mexican pesos and variable rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember" xlink:to="fmx_UnitOfInvestmentToMexicanPesosAndVariableRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember" xlink:label="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember" xlink:type="locator"/>
    <label id="id_13222622_2995175_3_1" xlink:label="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrealised gain losses on derivative financial instruments.</label>
    <label id="id_13222622_2995175_1_1" xlink:label="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealised Gain Losses on Derivative Financial Instruments [Member]</label>
    <label id="id_13222622_2995175_2_1" xlink:label="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Market value gain on financial instruments [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember" xlink:to="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome" xlink:label="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_13222622_3051193_3_1" xlink:label="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrealized Losses On Derivative Financial Instruments Accumulated Other Comprehensive Income</label>
    <label id="id_13222622_3051193_1_1" xlink:label="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrealized Losses On Derivative Financial Instruments Accumulated Other Comprehensive Income</label>
    <label id="id_13222622_3051193_14_1" xlink:label="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Unrealized loss on derivative financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome" xlink:to="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration" xlink:label="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration" xlink:type="locator"/>
    <label id="id_13222622_2950937_3_1" xlink:label="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unrecognized deferred tax assets tax loss carry forward with no expiration.</label>
    <label id="id_13222622_2950937_1_1" xlink:label="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unrecognized Deferred Tax Assets Tax Loss Carry Forward With No Expiration</label>
    <label id="id_13222622_2950937_2_1" xlink:label="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">No expiration (Brazil and Colombia)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration" xlink:to="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UnsettledMember" xlink:label="fmx_UnsettledMember" xlink:type="locator"/>
    <label id="id_13222622_3051198_3_1" xlink:label="fmx_UnsettledMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Unsettled.</label>
    <label id="id_13222622_3051198_1_1" xlink:label="fmx_UnsettledMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Unsettled [member]</label>
    <label id="id_13222622_3051198_2_1" xlink:label="fmx_UnsettledMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Unsettled [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UnsettledMember" xlink:to="fmx_UnsettledMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_US" xlink:label="country_US" xlink:type="locator"/>
    <label id="id_13222622_2933208_1_1" xlink:label="country_US_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">UNITED STATES</label>
    <label id="id_13222622_2933208_2_1" xlink:label="country_US_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">United States [Member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_US" xlink:to="country_US_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_USD" xlink:label="currency_USD" xlink:type="locator"/>
    <label id="id_13222622_2934727_1_1" xlink:label="currency_USD_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">United States of America, Dollars</label>
    <label id="id_13222622_2934727_2_1" xlink:label="currency_USD_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U S dollar [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_USD" xlink:to="currency_USD_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_USDollarMember" xlink:label="fmx_USDollarMember" xlink:type="locator"/>
    <label id="id_13222622_2995217_3_1" xlink:label="fmx_USDollarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Us dollar.</label>
    <label id="id_13222622_2995217_1_1" xlink:label="fmx_USDollarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Us Dollar [member]</label>
    <label id="id_13222622_2995217_2_1" xlink:label="fmx_USDollarMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. dollars [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_USDollarMember" xlink:to="fmx_USDollarMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_USDollarToBrazilianReaisMember" xlink:label="fmx_USDollarToBrazilianReaisMember" xlink:type="locator"/>
    <label id="id_13222622_2992561_3_1" xlink:label="fmx_USDollarToBrazilianReaisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">US dollar to brazilian reais.</label>
    <label id="id_13222622_2992561_1_1" xlink:label="fmx_USDollarToBrazilianReaisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Dollar To Brazilian Reais [Member]</label>
    <label id="id_13222622_2992561_2_1" xlink:label="fmx_USDollarToBrazilianReaisMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. dollars to Brazilian reais [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_USDollarToBrazilianReaisMember" xlink:to="fmx_USDollarToBrazilianReaisMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_USDollarToMexicanPersosMember" xlink:label="fmx_USDollarToMexicanPersosMember" xlink:type="locator"/>
    <label id="id_13222622_2992554_3_1" xlink:label="fmx_USDollarToMexicanPersosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">US dollar to Mexican persos.</label>
    <label id="id_13222622_2992554_1_1" xlink:label="fmx_USDollarToMexicanPersosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Dollar To Mexican Persos [Member]</label>
    <label id="id_13222622_2992554_2_1" xlink:label="fmx_USDollarToMexicanPersosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">U.S. dollars to Mexican pesos [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_USDollarToMexicanPersosMember" xlink:to="fmx_USDollarToMexicanPersosMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:label="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2939174_1_1" xlink:label="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Useful lives or depreciation rates, property, plant and equipment</label>
    <label id="id_13222622_2939174_2_1" xlink:label="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful lives</label>
    <label id="id_13222622_2939174_12_1" xlink:label="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful lives of principal assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:to="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_UsefulLivesPropertyPlantAndEquipment" xlink:label="fmx_UsefulLivesPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_13222622_2977246_3_1" xlink:label="fmx_UsefulLivesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Useful lives property plant and equipment.</label>
    <label id="id_13222622_2977246_1_1" xlink:label="fmx_UsefulLivesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Useful lives property plant and equipment</label>
    <label id="id_13222622_2977246_2_1" xlink:label="fmx_UsefulLivesPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Estimated useful lives</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_UsefulLivesPropertyPlantAndEquipment" xlink:to="fmx_UsefulLivesPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/us-gaap/2017/elts/us-gaap-2017-01-31.xsd#us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:type="locator"/>
    <label id="id_13222622_2933652_1_1" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">US Government Agencies Debt Securities [Member]</label>
    <label id="id_13222622_2933652_2_1" xlink:label="us-gaap_USGovernmentAgenciesDebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">US Government Agencies Debt Securities [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_USGovernmentAgenciesDebtSecuritiesMember" xlink:to="us-gaap_USGovernmentAgenciesDebtSecuritiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember" xlink:type="locator"/>
    <label id="id_13222622_2990238_3_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valuation of effective portion of derivative financial instrument.</label>
    <label id="id_13222622_2990238_1_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation Of Effective Portion Of Derivative Financial Instrument [Member]</label>
    <label id="id_13222622_2990238_2_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation of the effective portion of derivative financial instrument [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember" xlink:to="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:type="locator"/>
    <label id="id_13222622_2960052_3_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valuation of effective portion of derivative financial instruments.</label>
    <label id="id_13222622_2960052_1_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation of Effective Portion of Derivative Financial Instruments</label>
    <label id="id_13222622_2960052_2_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation of the effective portion of derivative financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:to="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax" xlink:type="locator"/>
    <label id="id_13222622_2948942_3_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Valuation of effective portion of derivative financial instruments net of tax</label>
    <label id="id_13222622_2948942_1_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Valuation of effective portion of derivative financial instruments net of tax</label>
    <label id="id_13222622_2948942_2_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Valuation of the effective portion of derivative financial instruments</label>
    <label id="id_13222622_2948942_12_1" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Valuation of the effective portion of derivative financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax" xlink:to="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ValueAddedTaxMember" xlink:label="fmx_ValueAddedTaxMember" xlink:type="locator"/>
    <label id="id_13222622_2981353_3_1" xlink:label="fmx_ValueAddedTaxMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Value added tax.</label>
    <label id="id_13222622_2981353_1_1" xlink:label="fmx_ValueAddedTaxMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Value Added Tax [Member]</label>
    <label id="id_13222622_2981353_2_1" xlink:label="fmx_ValueAddedTaxMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value added tax [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ValueAddedTaxMember" xlink:to="fmx_ValueAddedTaxMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ValueAddedTaxPercentage" xlink:label="fmx_ValueAddedTaxPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020333_3_1" xlink:label="fmx_ValueAddedTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Value added tax percentage.</label>
    <label id="id_13222622_3020333_1_1" xlink:label="fmx_ValueAddedTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Value added tax percentage</label>
    <label id="id_13222622_3020333_2_1" xlink:label="fmx_ValueAddedTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Value-added tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ValueAddedTaxPercentage" xlink:to="fmx_ValueAddedTaxPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VariableReturnAbstract" xlink:label="fmx_VariableReturnAbstract" xlink:type="locator"/>
    <label id="id_13222622_2940273_3_1" xlink:label="fmx_VariableReturnAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable return.</label>
    <label id="id_13222622_2940273_1_1" xlink:label="fmx_VariableReturnAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable Return [Abstract]</label>
    <label id="id_13222622_2940273_2_1" xlink:label="fmx_VariableReturnAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable return:</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VariableReturnAbstract" xlink:to="fmx_VariableReturnAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VariableToFixedInterestRateMember" xlink:label="fmx_VariableToFixedInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992559_3_1" xlink:label="fmx_VariableToFixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable to fixed interest rate.</label>
    <label id="id_13222622_2992559_1_1" xlink:label="fmx_VariableToFixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable To Fixed Interest Rate [Member]</label>
    <label id="id_13222622_2992559_2_1" xlink:label="fmx_VariableToFixedInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable to fixed interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VariableToFixedInterestRateMember" xlink:to="fmx_VariableToFixedInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VariableToFixedInterestRateThreeMember" xlink:label="fmx_VariableToFixedInterestRateThreeMember" xlink:type="locator"/>
    <label id="id_13222622_2992544_3_1" xlink:label="fmx_VariableToFixedInterestRateThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Member pertaining to variable to fixed interest rate three.</label>
    <label id="id_13222622_2992544_1_1" xlink:label="fmx_VariableToFixedInterestRateThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable To Fixed Interest Rate Three [Member]</label>
    <label id="id_13222622_2992544_2_1" xlink:label="fmx_VariableToFixedInterestRateThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">7.4% variable to 7.2% fixed interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VariableToFixedInterestRateThreeMember" xlink:to="fmx_VariableToFixedInterestRateThreeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VariableToFixedInterestRateTwoMember" xlink:label="fmx_VariableToFixedInterestRateTwoMember" xlink:type="locator"/>
    <label id="id_13222622_2992543_3_1" xlink:label="fmx_VariableToFixedInterestRateTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Member relating to variable to fixed interest rate two.</label>
    <label id="id_13222622_2992543_1_1" xlink:label="fmx_VariableToFixedInterestRateTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable To Fixed Interest Rate Two [Member]</label>
    <label id="id_13222622_2992543_2_1" xlink:label="fmx_VariableToFixedInterestRateTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">6.0% variable to 5.9% fixed interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VariableToFixedInterestRateTwoMember" xlink:to="fmx_VariableToFixedInterestRateTwoMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VariableToVariableInterestRateMember" xlink:label="fmx_VariableToVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_13222622_2992565_3_1" xlink:label="fmx_VariableToVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Variable to variable interest rate.</label>
    <label id="id_13222622_2992565_1_1" xlink:label="fmx_VariableToVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Variable To Variable Interest Rate [Member]</label>
    <label id="id_13222622_2992565_2_1" xlink:label="fmx_VariableToVariableInterestRateMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Variable to variable interest rate [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VariableToVariableInterestRateMember" xlink:to="fmx_VariableToVariableInterestRateMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_VE" xlink:label="country_VE" xlink:type="locator"/>
    <label id="id_13222622_2934150_1_1" xlink:label="country_VE_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">VENEZUELA</label>
    <label id="id_13222622_2934150_2_1" xlink:label="country_VE_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuela [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_VE" xlink:to="country_VE_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_VEF" xlink:label="currency_VEF" xlink:type="locator"/>
    <label id="id_13222622_2933236_1_1" xlink:label="currency_VEF_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Venezuelan bol&#xeD;var fuerte</label>
    <label id="id_13222622_2933236_2_1" xlink:label="currency_VEF_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuelan bolivar fuerte [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_VEF" xlink:to="currency_VEF_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VenezuelanBolivarsMember" xlink:label="fmx_VenezuelanBolivarsMember" xlink:type="locator"/>
    <label id="id_13222622_2983372_3_1" xlink:label="fmx_VenezuelanBolivarsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Venezuelan bolivars.</label>
    <label id="id_13222622_2983372_1_1" xlink:label="fmx_VenezuelanBolivarsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Venezuelan bolivars [Member]</label>
    <label id="id_13222622_2983372_2_1" xlink:label="fmx_VenezuelanBolivarsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Venezuelan Bolivars [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VenezuelanBolivarsMember" xlink:to="fmx_VenezuelanBolivarsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VonparMember" xlink:label="fmx_VonparMember" xlink:type="locator"/>
    <label id="id_13222622_2983287_3_1" xlink:label="fmx_VonparMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vonpar.</label>
    <label id="id_13222622_2983287_1_1" xlink:label="fmx_VonparMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vonpar [Member]</label>
    <label id="id_13222622_2983287_2_1" xlink:label="fmx_VonparMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vonpar [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VonparMember" xlink:to="fmx_VonparMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_VonparSAMember" xlink:label="fmx_VonparSAMember" xlink:type="locator"/>
    <label id="id_13222622_2990501_3_1" xlink:label="fmx_VonparSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Vonpar SA.</label>
    <label id="id_13222622_2990501_1_1" xlink:label="fmx_VonparSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Vonpar SA [Member]</label>
    <label id="id_13222622_2990501_2_1" xlink:label="fmx_VonparSAMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Vonpar SA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_VonparSAMember" xlink:to="fmx_VonparSAMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WagesAndSalaries" xlink:label="ifrs-full_WagesAndSalaries" xlink:type="locator"/>
    <label id="id_13222622_2938496_1_1" xlink:label="ifrs-full_WagesAndSalaries_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Wages and salaries</label>
    <label id="id_13222622_2938496_2_1" xlink:label="ifrs-full_WagesAndSalaries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Wages and salaries</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WagesAndSalaries" xlink:to="ifrs-full_WagesAndSalaries_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_WeightedAverageCostOfCapitalAfterTaxPercentage" xlink:label="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020760_3_1" xlink:label="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted average cost of capital after tax percentage.</label>
    <label id="id_13222622_3020760_1_1" xlink:label="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Cost of Capital After Tax Percentage</label>
    <label id="id_13222622_3020760_2_1" xlink:label="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post-tax WACC</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage" xlink:to="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_WeightedAverageCostOfCapitalPreTaxPercentage" xlink:label="fmx_WeightedAverageCostOfCapitalPreTaxPercentage" xlink:type="locator"/>
    <label id="id_13222622_3020759_3_1" xlink:label="fmx_WeightedAverageCostOfCapitalPreTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Weighted average cost of capital pre tax percentage.</label>
    <label id="id_13222622_3020759_1_1" xlink:label="fmx_WeightedAverageCostOfCapitalPreTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted Average Cost of Capital Pre Tax Percentage</label>
    <label id="id_13222622_3020759_2_1" xlink:label="fmx_WeightedAverageCostOfCapitalPreTaxPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Pre-tax WACC</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_WeightedAverageCostOfCapitalPreTaxPercentage" xlink:to="fmx_WeightedAverageCostOfCapitalPreTaxPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WeightedAverageShares" xlink:label="ifrs-full_WeightedAverageShares" xlink:type="locator"/>
    <label id="id_13222622_2939459_1_1" xlink:label="ifrs-full_WeightedAverageShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Weighted average number of ordinary shares outstanding</label>
    <label id="id_13222622_2939459_2_1" xlink:label="ifrs-full_WeightedAverageShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Weighted average number of shares for basic earnings per share</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WeightedAverageShares" xlink:to="ifrs-full_WeightedAverageShares_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_WithholdingTaxesAssociatedWithPaymentOfDividends" xlink:label="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends" xlink:type="locator"/>
    <label id="id_13222622_2950923_3_1" xlink:label="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Withholding taxes associated with payment of dividends.</label>
    <label id="id_13222622_2950923_1_1" xlink:label="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Withholding Taxes Associated With Payment Of Dividends</label>
    <label id="id_13222622_2950923_2_1" xlink:label="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Withholding taxes associated with payment of dividends</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends" xlink:to="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2017-03-09/full_ifrs/full_ifrs-cor_2017-03-09.xsd#ifrs-full_WorkInProgress" xlink:label="ifrs-full_WorkInProgress" xlink:type="locator"/>
    <label id="id_13222622_2939460_1_1" xlink:label="ifrs-full_WorkInProgress_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current work in progress</label>
    <label id="id_13222622_2939460_2_1" xlink:label="ifrs-full_WorkInProgress_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Work in process</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_WorkInProgress" xlink:to="ifrs-full_WorkInProgress_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_WriteOffContingencies" xlink:label="fmx_WriteOffContingencies" xlink:type="locator"/>
    <label id="id_13222622_2950751_3_1" xlink:label="fmx_WriteOffContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Write off contingencies.</label>
    <label id="id_13222622_2950751_1_1" xlink:label="fmx_WriteOffContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Write Off Contingencies</label>
    <label id="id_13222622_2950751_2_1" xlink:label="fmx_WriteOffContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Write off-contingencies(see Note 25.5)</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_WriteOffContingencies" xlink:to="fmx_WriteOffContingencies_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_YieldRate" xlink:label="fmx_YieldRate" xlink:type="locator"/>
    <label id="id_13222622_3024196_3_1" xlink:label="fmx_YieldRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Yield rate.</label>
    <label id="id_13222622_3024196_1_1" xlink:label="fmx_YieldRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Yield Rate</label>
    <label id="id_13222622_3024196_2_1" xlink:label="fmx_YieldRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total yield percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_YieldRate" xlink:to="fmx_YieldRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20171231.xsd#fmx_ZimagMember" xlink:label="fmx_ZimagMember" xlink:type="locator"/>
    <label id="id_13222622_2990388_3_1" xlink:label="fmx_ZimagMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Zimag.</label>
    <label id="id_13222622_2990388_1_1" xlink:label="fmx_ZimagMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Zimag [Member]</label>
    <label id="id_13222622_2990388_2_1" xlink:label="fmx_ZimagMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Zimag [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ZimagMember" xlink:to="fmx_ZimagMember_lbl" xlink:type="arc"/>
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