<?xml version="1.0" encoding="US-ASCII" standalone="no" ?>
<!-- DFIN Xcelerate Taxonomy Labels Linkbase - https://www.dfinsolutions.com/ -->
<!-- Version: 6.23.6 -->
<!-- Round: 8 -->
<!-- Creation date: 2019-04-24T19:15:52Z -->
<!-- Copyright (c) 2019 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" xlink:type="simple"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" xlink:type="simple"/>
  <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"/>
  <roleRef roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" xlink:type="simple"/>
  <labelLink xlink:role="http://www.xbrl.org/2003/role/link" xlink:type="extended">
    <loc xlink:href="fmx-20181231.xsd#fmx_AbasaMember" xlink:label="fmx_AbasaMember" xlink:type="locator"/>
    <label id="id_14240147_3553814_3_1" xlink:label="fmx_AbasaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Abasa.</label>
    <label id="id_14240147_3553814_1_1" xlink:label="fmx_AbasaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Abasa [member]</label>
    <label id="id_14240147_3553814_2_1" xlink:label="fmx_AbasaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Abasa [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AbasaMember" xlink:to="fmx_AbasaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember" xlink:label="ifrs-full_AbnormallyLargeChangesInAssetPricesOrForeignExchangeRatesMember" xlink:type="locator"/>
    <label id="id_14240147_3417190_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_14240147_3417190_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-20181231.xsd#fmx_AccountsPayable" xlink:label="fmx_AccountsPayable" xlink:type="locator"/>
    <label id="id_14240147_3465813_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_14240147_3465813_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_14240147_3465813_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-20181231.xsd#fmx_AccountsPayable1Member" xlink:label="fmx_AccountsPayable1Member" xlink:type="locator"/>
    <label id="id_14240147_3481525_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_14240147_3481525_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_14240147_3481525_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-20181231.xsd#fmx_AccountsReceivable1Member" xlink:label="fmx_AccountsReceivable1Member" xlink:type="locator"/>
    <label id="id_14240147_3481618_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_14240147_3481618_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_14240147_3481618_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-20181231.xsd#fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember" xlink:label="fmx_AccountsReceivableAndOtherCurrentFinancialAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3489820_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_14240147_3489820_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_14240147_3489820_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-20181231.xsd#fmx_AccountsReceivableAndOtherFinancialAssetsMember" xlink:label="fmx_AccountsReceivableAndOtherFinancialAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3489822_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_14240147_3489822_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_14240147_3489822_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-20181231.xsd#fmx_AccruedInterest" xlink:label="fmx_AccruedInterest" xlink:type="locator"/>
    <label id="id_14240147_3433585_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_14240147_3433585_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_14240147_3433585_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="fmx-20181231.xsd#fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal" xlink:label="fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal" xlink:type="locator"/>
    <label id="id_14240147_3553949_3_1" xlink:label="fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Accumulated currency translation effect for the subsidiary disposal.</label>
    <label id="id_14240147_3553949_1_1" xlink:label="fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Accumulated currency translation effect for the subsidiary disposal</label>
    <label id="id_14240147_3553949_2_1" xlink:label="fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accumulated currency translation effect for the subsidiary disposal</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal" xlink:to="fmx_AccumulatedCurrencyTranslationEffectForTheSubsidiaryDisposal_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:label="ifrs-full_AccumulatedDepreciationAmortisationAndImpairmentMember" xlink:type="locator"/>
    <label id="id_14240147_3416753_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_14240147_3416753_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3417200_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_14240147_3417200_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</label>
    <label id="id_14240147_3417200_12_1" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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_AccumulatedOtherComprehensiveIncome" xlink:to="ifrs-full_AccumulatedOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <label id="id_14240147_3416979_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_14240147_3416979_2_1" xlink:label="ifrs-full_AccumulatedOtherComprehensiveIncomeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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-20181231.xsd#fmx_AcquisitionCost" xlink:label="fmx_AcquisitionCost" xlink:type="locator"/>
    <label id="id_14240147_3436708_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_14240147_3436708_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_14240147_3436708_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:label="ifrs-full_AcquisitiondateFairValueOfEquityInterestInAcquireeHeldByAcquirerImmediatelyBeforeAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3416536_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_14240147_3416536_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:label="ifrs-full_AcquisitiondateFairValueOfTotalConsiderationTransferred" xlink:type="locator"/>
    <label id="id_14240147_3416982_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_14240147_3416982_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_14240147_3416982_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-20181231.xsd#fmx_AcquisitionRelatedCostsExpensedAsIncurred" xlink:label="fmx_AcquisitionRelatedCostsExpensedAsIncurred" xlink:type="locator"/>
    <label id="id_14240147_3444969_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_14240147_3444969_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_14240147_3444969_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-20181231.xsd#fmx_AcquisitionsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_AcquisitionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3441924_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_14240147_3441924_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_14240147_3441924_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-20181231.xsd#fmx_AcquisitionsOfNoncontrollingInterest" xlink:label="fmx_AcquisitionsOfNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_14240147_3463974_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_14240147_3463974_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_14240147_3463974_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3416757_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_14240147_3416757_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 (see Note 4)</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AcquisitionsThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRates" xlink:type="locator"/>
    <label id="id_14240147_3417207_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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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember" xlink:type="locator"/>
    <label id="id_14240147_3417208_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfDiscountRatesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of discount rates [member]</label>
    <label id="id_14240147_3417208_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfPensionIncreases" xlink:type="locator"/>
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    <label id="id_14240147_3416987_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases" xlink:type="locator"/>
    <label id="id_14240147_3416539_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreases_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</label>
    <label id="id_14240147_3416539_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:label="ifrs-full_ActuarialAssumptionOfExpectedRatesOfSalaryIncreasesMember" xlink:type="locator"/>
    <label id="id_14240147_3416761_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_14240147_3416761_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>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRates" xlink:type="locator"/>
    <label id="id_14240147_3416992_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_14240147_3416992_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:label="ifrs-full_ActuarialAssumptionOfMedicalCostTrendRatesMember" xlink:type="locator"/>
    <label id="id_14240147_3417209_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_14240147_3417209_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionOfRetirementAgeMember" xlink:label="ifrs-full_ActuarialAssumptionOfRetirementAgeMember" xlink:type="locator"/>
    <label id="id_14240147_3416993_1_1" xlink:label="ifrs-full_ActuarialAssumptionOfRetirementAgeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Actuarial assumption of retirement age [member]</label>
    <label id="id_14240147_3416993_2_1" xlink:label="ifrs-full_ActuarialAssumptionOfRetirementAgeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Actuarial assumption of retirement age [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ActuarialAssumptionOfRetirementAgeMember" xlink:to="ifrs-full_ActuarialAssumptionOfRetirementAgeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionsAxis" xlink:label="ifrs-full_ActuarialAssumptionsAxis" xlink:type="locator"/>
    <label id="id_14240147_3416764_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_14240147_3416764_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialAssumptionsMember" xlink:label="ifrs-full_ActuarialAssumptionsMember" xlink:type="locator"/>
    <label id="id_14240147_3416994_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_14240147_3416994_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ActuarialGainsLossesArisingFromChangesInFinancialAssumptionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3417212_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_14240147_3417212_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AdditionalAllowanceRecognisedInProfitOrLossAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3416767_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_14240147_3416767_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 period</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalPaidinCapital" xlink:label="ifrs-full_AdditionalPaidinCapital" xlink:type="locator"/>
    <label id="id_14240147_3416544_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_14240147_3416544_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-in capital</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionalPaidinCapitalMember" xlink:label="ifrs-full_AdditionalPaidinCapitalMember" xlink:type="locator"/>
    <label id="id_14240147_3416769_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_14240147_3416769_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-20181231.xsd#fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund" xlink:label="fmx_AdditionalTaxForTheContributionOfPovertyEradicationFund" xlink:type="locator"/>
    <label id="id_14240147_3525587_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_14240147_3525587_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_14240147_3525587_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-20181231.xsd#fmx_AdditionsFromBusinessCombinationsTradeReceivables" xlink:label="fmx_AdditionsFromBusinessCombinationsTradeReceivables" xlink:type="locator"/>
    <label id="id_14240147_3437104_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_14240147_3437104_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_14240147_3437104_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3416773_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_14240147_3416773_2_1" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsIntangibleAssetsOtherThanGoodwill_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdditionsOtherThanThroughBusinessCombinationsPropertyPlantAndEquipment" xlink:type="locator"/>
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    <label id="id_14240147_3416549_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-20181231.xsd#fmx_AdeSMember" xlink:label="fmx_AdeSMember" xlink:type="locator"/>
    <label id="id_14240147_3510792_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>
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    <label id="id_14240147_3510792_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="fmx-20181231.xsd#fmx_AdjustedBalanceMember" xlink:label="fmx_AdjustedBalanceMember" xlink:type="locator"/>
    <label id="id_14240147_3535981_3_1" xlink:label="fmx_AdjustedBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Adjusted balance.</label>
    <label id="id_14240147_3535981_1_1" xlink:label="fmx_AdjustedBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Adjusted Balance [member]</label>
    <label id="id_14240147_3535981_2_1" xlink:label="fmx_AdjustedBalanceMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjusted balance [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AdjustedBalanceMember" xlink:to="fmx_AdjustedBalanceMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustedWeightedAverageShares" xlink:label="ifrs-full_AdjustedWeightedAverageShares" xlink:type="locator"/>
    <label id="id_14240147_3416551_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_14240147_3416551_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-20181231.xsd#fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights" xlink:label="fmx_AdjustedWeightedAverageSharesFurtherAdjustedToReflectDividendRights" xlink:type="locator"/>
    <label id="id_14240147_3529633_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_14240147_3529633_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_14240147_3529633_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-20181231.xsd#fmx_AdjustmentForGainLossOnSaleOfShares" xlink:label="fmx_AdjustmentForGainLossOnSaleOfShares" xlink:type="locator"/>
    <label id="id_14240147_3450131_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_14240147_3450131_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_14240147_3450131_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForAmortisationExpense" xlink:label="ifrs-full_AdjustmentsForAmortisationExpense" xlink:type="locator"/>
    <label id="id_14240147_3417224_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_14240147_3417224_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInInventories" xlink:type="locator"/>
    <label id="id_14240147_3417002_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_14240147_3417002_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables" xlink:type="locator"/>
    <label id="id_14240147_3416776_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_14240147_3416776_2_1" xlink:label="ifrs-full_AdjustmentsForDecreaseIncreaseInTradeAndOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForDepreciationExpense" xlink:label="ifrs-full_AdjustmentsForDepreciationExpense" xlink:type="locator"/>
    <label id="id_14240147_3416560_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_14240147_3416560_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:label="ifrs-full_AdjustmentsForFairValueGainsLosses" xlink:type="locator"/>
    <label id="id_14240147_3417229_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_14240147_3417229_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_AdjustmentsForGainLossOnDisposalsPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3417231_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_14240147_3417231_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_AdjustmentsForGainsLossesOnChangeInFairValueOfDerivatives" xlink:type="locator"/>
    <label id="id_14240147_3416563_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_14240147_3416563_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ifrs-full_AdjustmentsForImpairmentLossReversalOfImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3416565_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_14240147_3416565_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-20181231.xsd#fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherCurrentFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3437147_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_14240147_3437147_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_14240147_3437147_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-20181231.xsd#fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets" xlink:label="fmx_AdjustmentsForIncreaseDecreaseInOtherFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3437172_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_14240147_3437172_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_14240147_3437172_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInOtherLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3416569_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_14240147_3416569_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 non-current 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables" xlink:type="locator"/>
    <label id="id_14240147_3416571_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_14240147_3416571_2_1" xlink:label="ifrs-full_AdjustmentsForIncreaseDecreaseInTradeAndOtherPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade accounts payable and other accounts</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForInterestExpense" xlink:label="ifrs-full_AdjustmentsForInterestExpense" xlink:type="locator"/>
    <label id="id_14240147_3416572_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_14240147_3416572_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForInterestIncome" xlink:label="ifrs-full_AdjustmentsForInterestIncome" xlink:type="locator"/>
    <label id="id_14240147_3417236_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_14240147_3417236_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:label="ifrs-full_AdjustmentsForLossesGainsOnDisposalOfNoncurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3417011_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_14240147_3417011_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-20181231.xsd#fmx_AdjustmentsForMonetaryPositionGainLossNet" xlink:label="fmx_AdjustmentsForMonetaryPositionGainLossNet" xlink:type="locator"/>
    <label id="id_14240147_3530600_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_14240147_3530600_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_14240147_3530600_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 period 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-20181231.xsd#fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses" xlink:label="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses" xlink:type="locator"/>
    <label id="id_14240147_3463876_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_14240147_3463876_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_14240147_3463876_2_1" xlink:label="fmx_AdjustmentsForNonCashNonoperatingIncomeExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-operating 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-20181231.xsd#fmx_AdjustmentsForNonCashOperatingExpenses" xlink:label="fmx_AdjustmentsForNonCashOperatingExpenses" xlink:type="locator"/>
    <label id="id_14240147_3441558_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_14240147_3441558_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_14240147_3441558_2_1" xlink:label="fmx_AdjustmentsForNonCashOperatingExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417013_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_14240147_3417013_2_1" xlink:label="ifrs-full_AdjustmentsForReconcileProfitLossAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-cash items adjustments:</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_AdjustmentsForUndistributedProfitsOfInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3417015_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_14240147_3417015_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 equity accounted investees, 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:label="ifrs-full_AdjustmentsForUnrealisedForeignExchangeLossesGains" xlink:type="locator"/>
    <label id="id_14240147_3416786_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_14240147_3416786_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 loss (gain), 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AdministrativeExpense" xlink:label="ifrs-full_AdministrativeExpense" xlink:type="locator"/>
    <label id="id_14240147_3416578_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_14240147_3416578_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-20181231.xsd#fmx_AdvancesForInventories" xlink:label="fmx_AdvancesForInventories" xlink:type="locator"/>
    <label id="id_14240147_3441310_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_14240147_3441310_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_14240147_3441310_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-20181231.xsd#fmx_AdvancesToAcquirePropertyPlantAndEquipment" xlink:label="fmx_AdvancesToAcquirePropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3452115_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_14240147_3452115_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_14240147_3452115_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-20181231.xsd#fmx_AdvertisingAndPromotionalExpensesPaidInAdvance" xlink:label="fmx_AdvertisingAndPromotionalExpensesPaidInAdvance" xlink:type="locator"/>
    <label id="id_14240147_3437098_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_14240147_3437098_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_14240147_3437098_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-20181231.xsd#fmx_AdvertisingMember" xlink:label="fmx_AdvertisingMember" xlink:type="locator"/>
    <label id="id_14240147_3508834_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_14240147_3508834_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_14240147_3508834_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:label="ifrs-full_AggregatedIndividuallyImmaterialBusinessCombinationsMember" xlink:type="locator"/>
    <label id="id_14240147_3417240_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_14240147_3417240_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedMeasurementMember" xlink:label="ifrs-full_AggregatedMeasurementMember" xlink:type="locator"/>
    <label id="id_14240147_3417023_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_14240147_3417023_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregatedTimeBandsMember" xlink:label="ifrs-full_AggregatedTimeBandsMember" xlink:type="locator"/>
    <label id="id_14240147_3417242_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_14240147_3417242_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember" xlink:label="ifrs-full_AggregateNotSignificantIndividualAssetsOrCashgeneratingUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3416793_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_14240147_3416793_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-20181231.xsd#fmx_AgreementWithCustomers" xlink:label="fmx_AgreementWithCustomers" xlink:type="locator"/>
    <label id="id_14240147_3437095_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_14240147_3437095_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_14240147_3437095_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-20181231.xsd#fmx_AgreementWithCustomersOtherNonCurrentAssets" xlink:label="fmx_AgreementWithCustomersOtherNonCurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3452113_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_14240147_3452113_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_14240147_3452113_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-20181231.xsd#fmx_AlcoholLicensesMember" xlink:label="fmx_AlcoholLicensesMember" xlink:type="locator"/>
    <label id="id_14240147_3485197_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_14240147_3485197_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_14240147_3485197_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_AllCurrenciesDomain" xlink:label="currency_AllCurrenciesDomain" xlink:type="locator"/>
    <label id="id_14240147_3417028_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_14240147_3417028_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:label="ifrs-full_AllLevelsOfFairValueHierarchyMember" xlink:type="locator"/>
    <label id="id_14240147_3417030_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_14240147_3417030_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-20181231.xsd#fmx_AllocationOfEarningsPercentageWeightedAverage" xlink:label="fmx_AllocationOfEarningsPercentageWeightedAverage" xlink:type="locator"/>
    <label id="id_14240147_3523727_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_14240147_3523727_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_14240147_3523727_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3416589_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_14240147_3416589_4_1" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at the end of the period</label>
    <label id="id_14240147_3416589_5_1" xlink:label="ifrs-full_AllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at the beginning of the period</label>
    <label id="id_14240147_3416589_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 expected credit losses</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="fmx-20181231.xsd#fmx_AllowanceForDoubtfulAccountsMember" xlink:label="fmx_AllowanceForDoubtfulAccountsMember" xlink:type="locator"/>
    <label id="id_14240147_3541233_3_1" xlink:label="fmx_AllowanceForDoubtfulAccountsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Allowance established for amounts due that are unlikely to be received.</label>
    <label id="id_14240147_3541233_1_1" xlink:label="fmx_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_14240147_3541233_2_1" xlink:label="fmx_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="fmx_AllowanceForDoubtfulAccountsMember" xlink:to="fmx_AllowanceForDoubtfulAccountsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_AluminiumMember" xlink:label="fmx_AluminiumMember" xlink:type="locator"/>
    <label id="id_14240147_3476359_3_1" xlink:label="fmx_AluminiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Aluminium.</label>
    <label id="id_14240147_3476359_1_1" xlink:label="fmx_AluminiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Aluminium [member]</label>
    <label id="id_14240147_3476359_2_1" xlink:label="fmx_AluminiumMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Aluminium [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AluminiumMember" xlink:to="fmx_AluminiumMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_AluminiumPriceContractsMember" xlink:label="fmx_AluminiumPriceContractsMember" xlink:type="locator"/>
    <label id="id_14240147_3487175_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_14240147_3487175_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_14240147_3487175_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" xlink:type="locator"/>
    <label id="id_14240147_3416806_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_14240147_3416806_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="fmx-20181231.xsd#fmx_AmericanDepositaryShares" xlink:label="fmx_AmericanDepositaryShares" xlink:type="locator"/>
    <label id="id_14240147_3468935_3_1" xlink:label="fmx_AmericanDepositaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">American depositary shares.</label>
    <label id="id_14240147_3468935_1_1" xlink:label="fmx_AmericanDepositaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">American Depositary Shares</label>
    <label id="id_14240147_3468935_2_1" xlink:label="fmx_AmericanDepositaryShares_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">American depositary shares</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AmericanDepositaryShares" xlink:to="fmx_AmericanDepositaryShares_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationExpense" xlink:label="ifrs-full_AmortisationExpense" xlink:type="locator"/>
    <label id="id_14240147_3416596_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_14240147_3416596_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_14240147_3416596_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_14240147_3416596_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-20181231.xsd#fmx_AmortisationExpenseReportedInAdministrativeExpenses" xlink:label="fmx_AmortisationExpenseReportedInAdministrativeExpenses" xlink:type="locator"/>
    <label id="id_14240147_3452128_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_14240147_3452128_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_14240147_3452128_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-20181231.xsd#fmx_AmortisationExpenseReportedInCostOfGoodsSold" xlink:label="fmx_AmortisationExpenseReportedInCostOfGoodsSold" xlink:type="locator"/>
    <label id="id_14240147_3452127_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_14240147_3452127_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_14240147_3452127_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-20181231.xsd#fmx_AmortisationExpenseReportedInSellingExpenses" xlink:label="fmx_AmortisationExpenseReportedInSellingExpenses" xlink:type="locator"/>
    <label id="id_14240147_3452129_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_14240147_3452129_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_14240147_3452129_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_AmortisationIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3417258_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_14240147_3417258_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-20181231.xsd#fmx_AmortisedIntangibleAssetsMember" xlink:label="fmx_AmortisedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3485198_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_14240147_3485198_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_14240147_3485198_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsPayableRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3417044_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_14240147_3417044_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:label="ifrs-full_AmountsReceivableRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3416820_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_14240147_3416820_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:label="ifrs-full_AnalysisOfIncomeAndExpenseAbstract" xlink:type="locator"/>
    <label id="id_14240147_3416823_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_14240147_3416823_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ApplicableTaxRate" xlink:label="ifrs-full_ApplicableTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3417268_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_14240147_3417268_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_14240147_3417268_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_14240147_3416827_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_14240147_3416827_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseAxis" xlink:type="locator"/>
    <label id="id_14240147_3416831_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_14240147_3416831_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember" xlink:label="ifrs-full_ArrangementsInvolvingLegalFormOfLeaseMember" xlink:type="locator"/>
    <label id="id_14240147_3417271_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_14240147_3417271_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_ARS" xlink:label="currency_ARS" xlink:type="locator"/>
    <label id="id_14240147_3417272_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_14240147_3417272_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/srt/2018/elts/srt-2018-01-31.xsd#srt_AsiaMember" xlink:label="srt_AsiaMember" xlink:type="locator"/>
    <label id="id_14240147_3417053_1_1" xlink:label="srt_AsiaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Asia [Member]</label>
    <label id="id_14240147_3417053_2_1" xlink:label="srt_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="srt_AsiaMember" xlink:to="srt_AsiaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Assets" xlink:label="ifrs-full_Assets" xlink:type="locator"/>
    <label id="id_14240147_3417056_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_14240147_3417056_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_14240147_3417056_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_14240147_3417056_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AssetsAbstract" xlink:label="ifrs-full_AssetsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417273_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_14240147_3417273_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-20181231.xsd#fmx_AssetsAcquisitionsThroughForeignCurrency" xlink:label="fmx_AssetsAcquisitionsThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_14240147_3443017_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_14240147_3443017_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_14240147_3443017_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-20181231.xsd#fmx_AssetsBalanceWithRelatedPartyTransaction" xlink:label="fmx_AssetsBalanceWithRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3441703_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_14240147_3441703_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_14240147_3441703_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-20181231.xsd#fmx_AssetsDiscontinuedOperations" xlink:label="fmx_AssetsDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3465457_3_1" xlink:label="fmx_AssetsDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">ASSETS discontinued operations</label>
    <label id="id_14240147_3465457_1_1" xlink:label="fmx_AssetsDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">ASSETS discontinued operations</label>
    <label id="id_14240147_3465457_2_1" xlink:label="fmx_AssetsDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Assets of discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_AssetsDiscontinuedOperations" xlink:to="fmx_AssetsDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_AssetsRecognisedAsOfAcquisitionDate" xlink:label="fmx_AssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3530680_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_14240147_3530680_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_14240147_3530680_2_1" xlink:label="fmx_AssetsRecognisedAsOfAcquisitionDate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AtFairValueMember" xlink:label="ifrs-full_AtFairValueMember" xlink:type="locator"/>
    <label id="id_14240147_3417065_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_14240147_3417065_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_AverageForeignExchangeRate" xlink:label="ifrs-full_AverageForeignExchangeRate" xlink:type="locator"/>
    <label id="id_14240147_3416845_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_14240147_3416845_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 exchage rate</label>
    <label id="id_14240147_3416845_12_1" xlink:label="ifrs-full_AverageForeignExchangeRate_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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-20181231.xsd#fmx_BakedGoodsAndSnacksMember" xlink:label="fmx_BakedGoodsAndSnacksMember" xlink:type="locator"/>
    <label id="id_14240147_3497153_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_14240147_3497153_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_14240147_3497153_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-20181231.xsd#fmx_BalanceInvestmentAmount" xlink:label="fmx_BalanceInvestmentAmount" xlink:type="locator"/>
    <label id="id_14240147_3445259_3_1" xlink:label="fmx_BalanceInvestmentAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Balance Investment Amount</label>
    <label id="id_14240147_3445259_1_1" xlink:label="fmx_BalanceInvestmentAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Balance Investment Amount</label>
    <label id="id_14240147_3445259_2_1" xlink:label="fmx_BalanceInvestmentAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Balance amount available</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BalanceInvestmentAmount" xlink:to="fmx_BalanceInvestmentAmount_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_BancoMercantilDelNorteSAMember" xlink:label="fmx_BancoMercantilDelNorteSAMember" xlink:type="locator"/>
    <label id="id_14240147_3514328_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_14240147_3514328_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_14240147_3514328_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:label="ifrs-full_BankBorrowingsUndiscountedCashFlows" xlink:type="locator"/>
    <label id="id_14240147_3417078_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_14240147_3417078_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-20181231.xsd#fmx_BankInstrumentsMember" xlink:label="fmx_BankInstrumentsMember" xlink:type="locator"/>
    <label id="id_14240147_3503016_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_14240147_3503016_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_14240147_3503016_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-20181231.xsd#fmx_BankLoansAndNotesPayablesMember" xlink:label="fmx_BankLoansAndNotesPayablesMember" xlink:type="locator"/>
    <label id="id_14240147_3506619_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_14240147_3506619_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_14240147_3506619_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-20181231.xsd#fmx_BankLoansMember" xlink:label="fmx_BankLoansMember" xlink:type="locator"/>
    <label id="id_14240147_3508936_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_14240147_3508936_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_14240147_3508936_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-20181231.xsd#fmx_BankLoansNotesPayablesAndAccountsPayableMember" xlink:label="fmx_BankLoansNotesPayablesAndAccountsPayableMember" xlink:type="locator"/>
    <label id="id_14240147_3485227_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_14240147_3485227_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_14240147_3485227_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShare" xlink:label="ifrs-full_BasicEarningsLossPerShare" xlink:type="locator"/>
    <label id="id_14240147_3416665_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_14240147_3416665_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3417080_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_14240147_3417080_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 earnings per share from continuing operations</label>
    <label id="id_14240147_3417080_12_1" xlink:label="ifrs-full_BasicEarningsLossPerShareFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic earnings per share of continuing operations</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3417081_1_1" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic earnings (loss) per share from discontinued operations</label>
    <label id="id_14240147_3417081_2_1" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic earnings per share from discontinued operations</label>
    <label id="id_14240147_3417081_12_1" xlink:label="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Basic earnings per share of discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations" xlink:to="ifrs-full_BasicEarningsLossPerShareFromDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_BasicEarningsPerShareFromContinuingOperationsAbstract" xlink:label="fmx_BasicEarningsPerShareFromContinuingOperationsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3427525_3_1" xlink:label="fmx_BasicEarningsPerShareFromContinuingOperationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Basic earnings per share from continuing operations.</label>
    <label id="id_14240147_3427525_1_1" xlink:label="fmx_BasicEarningsPerShareFromContinuingOperationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic Earnings Per Share From Continuing Operations [abstract]</label>
    <label id="id_14240147_3427525_2_1" xlink:label="fmx_BasicEarningsPerShareFromContinuingOperationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic earnings per share of continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BasicEarningsPerShareFromContinuingOperationsAbstract" xlink:to="fmx_BasicEarningsPerShareFromContinuingOperationsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract" xlink:label="fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3541652_3_1" xlink:label="fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Basic Earnings per share from discontinued operations.</label>
    <label id="id_14240147_3541652_1_1" xlink:label="fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Basic Earnings Per Share From Discontinued Operations [abstract]</label>
    <label id="id_14240147_3541652_2_1" xlink:label="fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basic earnings per share of discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract" xlink:to="fmx_BasicEarningsPerShareFromDiscontinuedOperationsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_BBVABancomerSADeCVMember" xlink:label="fmx_BBVABancomerSADeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3503095_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_14240147_3503095_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_14240147_3503095_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-20181231.xsd#fmx_BDUnitsMember" xlink:label="fmx_BDUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3496956_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_14240147_3496956_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_14240147_3496956_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="fmx-20181231.xsd#fmx_BeerMember" xlink:label="fmx_BeerMember" xlink:type="locator"/>
    <label id="id_14240147_3476159_3_1" xlink:label="fmx_BeerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Beer Member</label>
    <label id="id_14240147_3476159_1_1" xlink:label="fmx_BeerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Beer [member]</label>
    <label id="id_14240147_3476159_2_1" xlink:label="fmx_BeerMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Beer [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BeerMember" xlink:to="fmx_BeerMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BenefitsPaidOrPayable" xlink:label="ifrs-full_BenefitsPaidOrPayable" xlink:type="locator"/>
    <label id="id_14240147_3416675_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_14240147_3416675_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-20181231.xsd#fmx_BetaSanMiguelMember" xlink:label="fmx_BetaSanMiguelMember" xlink:type="locator"/>
    <label id="id_14240147_3503080_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_14240147_3503080_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_14240147_3503080_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BiologicalAssetsByTypeAxis" xlink:label="ifrs-full_BiologicalAssetsByTypeAxis" xlink:type="locator"/>
    <label id="id_14240147_3417098_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_14240147_3417098_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BiologicalAssetsTypeMember" xlink:label="ifrs-full_BiologicalAssetsTypeMember" xlink:type="locator"/>
    <label id="id_14240147_3416876_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_14240147_3416876_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-20181231.xsd#fmx_BiometricAbstract" xlink:label="fmx_BiometricAbstract" xlink:type="locator"/>
    <label id="id_14240147_3428820_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_14240147_3428820_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_14240147_3428820_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:label="ifrs-full_BondsIssuedUndiscountedCashFlows" xlink:type="locator"/>
    <label id="id_14240147_3416883_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_14240147_3416883_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingCostsCapitalised" xlink:label="ifrs-full_BorrowingCostsCapitalised" xlink:type="locator"/>
    <label id="id_14240147_3416885_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_14240147_3416885_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_14240147_3416885_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_14240147_3416885_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Borrowings" xlink:label="ifrs-full_Borrowings" xlink:type="locator"/>
    <label id="id_14240147_3416694_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_14240147_3416694_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_14240147_3416694_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameAxis" xlink:label="ifrs-full_BorrowingsByNameAxis" xlink:type="locator"/>
    <label id="id_14240147_3416696_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_14240147_3416696_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsByNameMember" xlink:label="ifrs-full_BorrowingsByNameMember" xlink:type="locator"/>
    <label id="id_14240147_3416886_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_14240147_3416886_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRate" xlink:label="ifrs-full_BorrowingsInterestRate" xlink:type="locator"/>
    <label id="id_14240147_3417325_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_14240147_3417325_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_14240147_3417325_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_14240147_3417325_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_14240147_3417325_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsInterestRateBasis" xlink:label="ifrs-full_BorrowingsInterestRateBasis" xlink:type="locator"/>
    <label id="id_14240147_3417326_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_14240147_3417326_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_14240147_3417326_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsMaturity" xlink:label="ifrs-full_BorrowingsMaturity" xlink:type="locator"/>
    <label id="id_14240147_3416697_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_14240147_3416697_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_14240147_3416697_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_BorrowingsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3417327_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_14240147_3417327_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BottomOfRangeMember" xlink:label="ifrs-full_BottomOfRangeMember" xlink:type="locator"/>
    <label id="id_14240147_3416700_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_14240147_3416700_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_14240147_3416702_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_14240147_3416702_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BrandNamesMember" xlink:label="ifrs-full_BrandNamesMember" xlink:type="locator"/>
    <label id="id_14240147_3417332_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_14240147_3417332_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-20181231.xsd#fmx_BrazilianReaisMember" xlink:label="fmx_BrazilianReaisMember" xlink:type="locator"/>
    <label id="id_14240147_3502003_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_14240147_3502003_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_14240147_3502003_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_BRL" xlink:label="currency_BRL" xlink:type="locator"/>
    <label id="id_14240147_3416703_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_14240147_3416703_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BuildingsMember" xlink:label="ifrs-full_BuildingsMember" xlink:type="locator"/>
    <label id="id_14240147_3416891_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_14240147_3416891_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-20181231.xsd#fmx_BUnitsMember" xlink:label="fmx_BUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3498524_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_14240147_3498524_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_14240147_3498524_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-20181231.xsd#fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness" xlink:label="fmx_BusinessAcquisitionAdditionalCashPaidOnAcquisitionOfBusiness" xlink:type="locator"/>
    <label id="id_14240147_3441735_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_14240147_3441735_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_14240147_3441735_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-20181231.xsd#fmx_BusinessAcquisitionCapitalizedAmount" xlink:label="fmx_BusinessAcquisitionCapitalizedAmount" xlink:type="locator"/>
    <label id="id_14240147_3441743_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_14240147_3441743_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_14240147_3441743_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-20181231.xsd#fmx_BusinessAcquisitionSaleOfEquityInterestPercentage" xlink:label="fmx_BusinessAcquisitionSaleOfEquityInterestPercentage" xlink:type="locator"/>
    <label id="id_14240147_3528707_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_14240147_3528707_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_14240147_3528707_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-20181231.xsd#fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees" xlink:type="locator"/>
    <label id="id_14240147_3541714_3_1" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_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 of equity accounted investees.</label>
    <label id="id_14240147_3541714_1_1" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_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 Of Equity Accounted Investees</label>
    <label id="id_14240147_3541714_2_1" xlink:label="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_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 equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees" xlink:to="fmx_BusinessCombinationProformaIncomeBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_BusinessCombinationsAxis" xlink:label="ifrs-full_BusinessCombinationsAxis" xlink:type="locator"/>
    <label id="id_14240147_3417116_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_14240147_3417116_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-20181231.xsd#fmx_CafeDelPacificoSAPIDeCVCaffenioMember" xlink:label="fmx_CafeDelPacificoSAPIDeCVCaffenioMember" xlink:type="locator"/>
    <label id="id_14240147_3485111_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_14240147_3485111_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_14240147_3485111_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-20181231.xsd#fmx_CaffenioMember" xlink:label="fmx_CaffenioMember" xlink:type="locator"/>
    <label id="id_14240147_3485221_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_14240147_3485221_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_14240147_3485221_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-20181231.xsd#fmx_CannedProductsMember" xlink:label="fmx_CannedProductsMember" xlink:type="locator"/>
    <label id="id_14240147_3497156_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_14240147_3497156_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_14240147_3497156_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-20181231.xsd#fmx_CapitalisationOfIssuedSharesToFormerOwners" xlink:label="fmx_CapitalisationOfIssuedSharesToFormerOwners" xlink:type="locator"/>
    <label id="id_14240147_3463963_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_14240147_3463963_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_14240147_3463963_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>
    <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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:label="ifrs-full_CapitalisationRateOfBorrowingCostsEligibleForCapitalisation" xlink:type="locator"/>
    <label id="id_14240147_3417127_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_14240147_3417127_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-20181231.xsd#fmx_CapitalizationOfBorrowingCosts" xlink:label="fmx_CapitalizationOfBorrowingCosts" xlink:type="locator"/>
    <label id="id_14240147_3452133_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_14240147_3452133_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_14240147_3452133_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-20181231.xsd#fmx_CapitalizationRatio" xlink:label="fmx_CapitalizationRatio" xlink:type="locator"/>
    <label id="id_14240147_3554434_3_1" xlink:label="fmx_CapitalizationRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capitalization ratio.</label>
    <label id="id_14240147_3554434_1_1" xlink:label="fmx_CapitalizationRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capitalization ratio</label>
    <label id="id_14240147_3554434_2_1" xlink:label="fmx_CapitalizationRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capitalization ratio</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CapitalizationRatio" xlink:to="fmx_CapitalizationRatio_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_CapitalLeasesMember" xlink:label="fmx_CapitalLeasesMember" xlink:type="locator"/>
    <label id="id_14240147_3502786_3_1" xlink:label="fmx_CapitalLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Capital leases [member]</label>
    <label id="id_14240147_3502786_1_1" xlink:label="fmx_CapitalLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Capital leases [member]</label>
    <label id="id_14240147_3502786_2_1" xlink:label="fmx_CapitalLeasesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Capital leases [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CapitalLeasesMember" xlink:to="fmx_CapitalLeasesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_CapitalSecuritiesMember" xlink:label="fmx_CapitalSecuritiesMember" xlink:type="locator"/>
    <label id="id_14240147_3502541_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_14240147_3502541_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_14240147_3502541_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:label="ifrs-full_CarryingAmountAccumulatedDepreciationAmortisationAndImpairmentAndGrossCarryingAmountAxis" xlink:type="locator"/>
    <label id="id_14240147_3416904_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_14240147_3416904_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CarryingAmountMember" xlink:label="ifrs-full_CarryingAmountMember" xlink:type="locator"/>
    <label id="id_14240147_3417348_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_14240147_3417348_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-20181231.xsd#fmx_CarryingValueOfAcquireeInvestmentDerecognized" xlink:label="fmx_CarryingValueOfAcquireeInvestmentDerecognized" xlink:type="locator"/>
    <label id="id_14240147_3441591_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_14240147_3441591_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_14240147_3441591_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Cash" xlink:label="ifrs-full_Cash" xlink:type="locator"/>
    <label id="id_14240147_3417349_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_14240147_3417349_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-20181231.xsd#fmx_CashAndCashEquivalentMember" xlink:label="fmx_CashAndCashEquivalentMember" xlink:type="locator"/>
    <label id="id_14240147_3509064_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_14240147_3509064_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_14240147_3509064_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalents" xlink:label="ifrs-full_CashAndCashEquivalents" xlink:type="locator"/>
    <label id="id_14240147_3416724_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_14240147_3416724_4_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at the end of the period</label>
    <label id="id_14240147_3416724_5_1" xlink:label="ifrs-full_CashAndCashEquivalents_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents at the beginning of the period</label>
    <label id="id_14240147_3416724_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_14240147_3416724_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-20181231.xsd#fmx_CashAndCashEquivalents1LineItems" xlink:label="fmx_CashAndCashEquivalents1LineItems" xlink:type="locator"/>
    <label id="id_14240147_3428411_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_14240147_3428411_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_14240147_3428411_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsAbstract" xlink:label="ifrs-full_CashAndCashEquivalentsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417132_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_14240147_3417132_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CashAndCashEquivalentsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3417355_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_14240147_3417355_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>
    <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-20181231.xsd#fmx_CashAndCashEquivalentsTable" xlink:label="fmx_CashAndCashEquivalentsTable" xlink:type="locator"/>
    <label id="id_14240147_3473280_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_14240147_3473280_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_14240147_3473280_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashEquivalents" xlink:label="ifrs-full_CashEquivalents" xlink:type="locator"/>
    <label id="id_14240147_3416727_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_14240147_3416727_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="fmx-20181231.xsd#fmx_CashFlowHedgeCosts" xlink:label="fmx_CashFlowHedgeCosts" xlink:type="locator"/>
    <label id="id_14240147_3541745_3_1" xlink:label="fmx_CashFlowHedgeCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cash flow hedge costs.</label>
    <label id="id_14240147_3541745_1_1" xlink:label="fmx_CashFlowHedgeCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flow hedge costs</label>
    <label id="id_14240147_3541745_2_1" xlink:label="fmx_CashFlowHedgeCosts_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedge costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CashFlowHedgeCosts" xlink:to="fmx_CashFlowHedgeCosts_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowHedgesMember" xlink:label="ifrs-full_CashFlowHedgesMember" xlink:type="locator"/>
    <label id="id_14240147_3416907_1_1" xlink:label="ifrs-full_CashFlowHedgesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flow hedges [member]</label>
    <label id="id_14240147_3416907_2_1" xlink:label="ifrs-full_CashFlowHedgesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedges [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowHedgesMember" xlink:to="ifrs-full_CashFlowHedgesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3417358_1_1" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from losing control of subsidiaries or other businesses, classified as investing activities</label>
    <label id="id_14240147_3417358_2_1" xlink:label="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from the sale of subsidiary, net of cash disposed</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:to="ifrs-full_CashFlowsFromLosingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3416914_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_14240147_3416914_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3416915_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities, continuing operations</label>
    <label id="id_14240147_3416915_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash (used) generated by financing activities from continuing operations</label>
    <label id="id_14240147_3416915_14_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Net cash flow from used in financing activities for continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3416916_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) financing activities, discontinued operations</label>
    <label id="id_14240147_3416916_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash flow from used in financing activities from discontinued operations</label>
    <label id="id_14240147_3416916_12_1" xlink:label="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net cash used in financing activities from discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInFinancingActivitiesDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3416732_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_14240147_3416732_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3417361_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities, continuing operations</label>
    <label id="id_14240147_3417361_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash (used in) generated by investing activities from continuing operations</label>
    <label id="id_14240147_3417361_14_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations_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 for continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3417138_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) investing activities, discontinued operations</label>
    <label id="id_14240147_3417138_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash (used in) generated by investing activities from discontinued operations</label>
    <label id="id_14240147_3417138_12_1" xlink:label="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net cash flow from used in investing activities from discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInInvestingActivitiesDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417363_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_14240147_3417363_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3416733_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities, continuing operations</label>
    <label id="id_14240147_3416733_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash flow generated from operating activities for continuing operations</label>
    <label id="id_14240147_3416733_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash generated by operating activities from continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3416919_1_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cash flows from (used in) operating activities, discontinued operations</label>
    <label id="id_14240147_3416919_2_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net cash flow generated from operating activities from discontinued operations</label>
    <label id="id_14240147_3416919_12_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net cash generated by operating activities from discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations" xlink:to="ifrs-full_CashFlowsFromUsedInOperatingActivitiesDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperations" xlink:label="ifrs-full_CashFlowsFromUsedInOperations" xlink:type="locator"/>
    <label id="id_14240147_3416734_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_14240147_3416734_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net cash generated 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:label="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital" xlink:type="locator"/>
    <label id="id_14240147_3417139_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_14240147_3417139_6_1" xlink:label="ifrs-full_CashFlowsFromUsedInOperationsBeforeChangesInWorkingCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:label="ifrs-full_CashFlowsUsedInObtainingControlOfSubsidiariesOrOtherBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3416920_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_14240147_3416920_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 Coca-Cola FEMSA, 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-20181231.xsd#fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities" xlink:label="fmx_CashFlowsUsedInObtainingPartialOwnershipInBusinessesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3463830_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_14240147_3463830_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_14240147_3463830_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CashTransferred" xlink:label="ifrs-full_CashTransferred" xlink:type="locator"/>
    <label id="id_14240147_3417146_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_14240147_3417146_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_14240147_3417146_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfFinancialAssetsAbstract" xlink:label="ifrs-full_CategoriesOfFinancialAssetsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417366_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_14240147_3417366_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:label="ifrs-full_CategoriesOfRelatedPartiesAxis" xlink:type="locator"/>
    <label id="id_14240147_3416740_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_14240147_3416740_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-20181231.xsd#fmx_CemexDeMember" xlink:label="fmx_CemexDeMember" xlink:type="locator"/>
    <label id="id_14240147_3553999_3_1" xlink:label="fmx_CemexDeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">CEMEX, S.A.B. de C.V.</label>
    <label id="id_14240147_3553999_1_1" xlink:label="fmx_CemexDeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">CEMEX, S.A.B. de C.V. [member]</label>
    <label id="id_14240147_3553999_2_1" xlink:label="fmx_CemexDeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CEMEX, S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CemexDeMember" xlink:to="fmx_CemexDeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ChangeInBasisPoint" xlink:label="fmx_ChangeInBasisPoint" xlink:type="locator"/>
    <label id="id_14240147_3473051_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_14240147_3473051_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_14240147_3473051_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-20181231.xsd#fmx_ChangeInBasisPointEffectOnEquity" xlink:label="fmx_ChangeInBasisPointEffectOnEquity" xlink:type="locator"/>
    <label id="id_14240147_3454025_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_14240147_3454025_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_14240147_3454025_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-20181231.xsd#fmx_ChangeInCommodityPriceFluctuationPercentage" xlink:label="fmx_ChangeInCommodityPriceFluctuationPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524672_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_14240147_3524672_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_14240147_3524672_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-20181231.xsd#fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity" xlink:label="fmx_ChangeInCommodityPriceFluctuationRateEffectOnEquity" xlink:type="locator"/>
    <label id="id_14240147_3451065_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_14240147_3451065_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_14240147_3451065_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-20181231.xsd#fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToCashFlowHedgesInForeignInvestments" xlink:type="locator"/>
    <label id="id_14240147_3434274_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_14240147_3434274_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_14240147_3434274_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-20181231.xsd#fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries" xlink:type="locator"/>
    <label id="id_14240147_3554175_3_1" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Change In deferred tax assets relating to disposal of subsidiaries.</label>
    <label id="id_14240147_3554175_1_1" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Change In Deferred Tax Assets Relating To Disposal of subsidiaries</label>
    <label id="id_14240147_3554175_2_1" xlink:label="fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal of subsidiaries</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries" xlink:to="fmx_ChangeInDeferredTaxAssetsRelatingToDisposalOfSubsidiaries_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ChangeInInterestRate" xlink:label="fmx_ChangeInInterestRate" xlink:type="locator"/>
    <label id="id_14240147_3469645_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_14240147_3469645_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_14240147_3469645_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-20181231.xsd#fmx_ChangeInInterestRateEffectOnProfitLoss" xlink:label="fmx_ChangeInInterestRateEffectOnProfitLoss" xlink:type="locator"/>
    <label id="id_14240147_3435520_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_14240147_3435520_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_14240147_3435520_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-20181231.xsd#fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate" xlink:label="fmx_ChangeInVolumeGrowthOfCompoundAnnualGrowthRate" xlink:type="locator"/>
    <label id="id_14240147_3524403_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_14240147_3524403_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_14240147_3524403_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-20181231.xsd#fmx_ChangeInWeightedAverageCostOfCapitalPercentage" xlink:label="fmx_ChangeInWeightedAverageCostOfCapitalPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524402_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_14240147_3524402_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_14240147_3524402_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" xlink:label="ifrs-full_ChangesInInventoriesOfFinishedGoodsAndWorkInProgress" xlink:type="locator"/>
    <label id="id_14240147_3417418_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_14240147_3417418_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember" xlink:label="ifrs-full_ChangesInTaxRatesOrTaxLawsEnactedOrAnnouncedMember" xlink:type="locator"/>
    <label id="id_14240147_3417171_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_14240147_3417171_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-20181231.xsd#fmx_ChangesInValueOnRecognitionOfInflationEffects" xlink:label="fmx_ChangesInValueOnRecognitionOfInflationEffects" xlink:type="locator"/>
    <label id="id_14240147_3452132_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_14240147_3452132_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_14240147_3452132_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="fmx-20181231.xsd#fmx_ChileanPesosMember" xlink:label="fmx_ChileanPesosMember" xlink:type="locator"/>
    <label id="id_14240147_3502001_3_1" xlink:label="fmx_ChileanPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Chilean pesos.</label>
    <label id="id_14240147_3502001_1_1" xlink:label="fmx_ChileanPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Chilean pesos [member]</label>
    <label id="id_14240147_3502001_2_1" xlink:label="fmx_ChileanPesosMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Chilean pesos [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ChileanPesosMember" xlink:to="fmx_ChileanPesosMember_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_14240147_3417390_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_14240147_3417390_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfAssetsAxis" xlink:label="ifrs-full_ClassesOfAssetsAxis" xlink:type="locator"/>
    <label id="id_14240147_3417430_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_14240147_3417430_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfAssetsMember" xlink:label="ifrs-full_ClassesOfAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3417431_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_14240147_3417431_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:label="ifrs-full_ClassesOfEmployeeBenefitsExpenseAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417433_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_14240147_3417433_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialAssetsAxis" xlink:label="ifrs-full_ClassesOfFinancialAssetsAxis" xlink:type="locator"/>
    <label id="id_14240147_3417434_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_14240147_3417434_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsAxis" xlink:type="locator"/>
    <label id="id_14240147_3416962_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_14240147_3416962_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:label="ifrs-full_ClassesOfFinancialInstrumentsMember" xlink:type="locator"/>
    <label id="id_14240147_3417393_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_14240147_3417393_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_14240147_3417179_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_14240147_3417179_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:label="ifrs-full_ClassesOfIntangibleAssetsOtherThanGoodwillAxis" xlink:type="locator"/>
    <label id="id_14240147_3417436_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_14240147_3417436_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfInventoriesAbstract" xlink:label="ifrs-full_ClassesOfInventoriesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417394_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_14240147_3417394_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfLiabilitiesAxis" xlink:label="ifrs-full_ClassesOfLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_14240147_3416963_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_14240147_3416963_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfOrdinarySharesAxis" xlink:label="ifrs-full_ClassesOfOrdinarySharesAxis" xlink:type="locator"/>
    <label id="id_14240147_3417619_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_14240147_3417619_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:label="ifrs-full_ClassesOfPropertyPlantAndEquipmentAxis" xlink:type="locator"/>
    <label id="id_14240147_3417395_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_14240147_3417395_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfProvisionsAxis" xlink:label="ifrs-full_ClassesOfProvisionsAxis" xlink:type="locator"/>
    <label id="id_14240147_3417396_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_14240147_3417396_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalAxis" xlink:label="ifrs-full_ClassesOfShareCapitalAxis" xlink:type="locator"/>
    <label id="id_14240147_3417439_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_14240147_3417439_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClassesOfShareCapitalMember" xlink:label="ifrs-full_ClassesOfShareCapitalMember" xlink:type="locator"/>
    <label id="id_14240147_3417180_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_14240147_3417180_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.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ClosingForeignExchangeRate" xlink:label="ifrs-full_ClosingForeignExchangeRate" xlink:type="locator"/>
    <label id="id_14240147_3417442_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_14240147_3417442_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_14240147_3417442_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_14240147_3417442_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_14240147_3417442_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_CLP" xlink:label="currency_CLP" xlink:type="locator"/>
    <label id="id_14240147_3417623_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_14240147_3417623_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_14240147_3417627_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_14240147_3417627_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-20181231.xsd#fmx_CocaColaCompanyMember" xlink:label="fmx_CocaColaCompanyMember" xlink:type="locator"/>
    <label id="id_14240147_3501862_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_14240147_3501862_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_14240147_3501862_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-20181231.xsd#fmx_CocaColaFEMSAMember" xlink:label="fmx_CocaColaFEMSAMember" xlink:type="locator"/>
    <label id="id_14240147_3501699_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_14240147_3501699_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_14240147_3501699_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-20181231.xsd#fmx_CocaColaFEMSAPhilippinesIncMember" xlink:label="fmx_CocaColaFEMSAPhilippinesIncMember" xlink:type="locator"/>
    <label id="id_14240147_3501654_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_14240147_3501654_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_14240147_3501654_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-20181231.xsd#fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember" xlink:label="fmx_CocaColaFomentoEconomicoMexicanoSabdeCvMember" xlink:type="locator"/>
    <label id="id_14240147_3497038_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_14240147_3497038_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_14240147_3497038_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-20181231.xsd#fmx_CoffeeMember" xlink:label="fmx_CoffeeMember" xlink:type="locator"/>
    <label id="id_14240147_3500010_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_14240147_3500010_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_14240147_3500010_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-20181231.xsd#fmx_ColombianPesosMember" xlink:label="fmx_ColombianPesosMember" xlink:type="locator"/>
    <label id="id_14240147_3501998_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_14240147_3501998_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_14240147_3501998_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-20181231.xsd#fmx_ComercialBigJohnLimitadaMember" xlink:label="fmx_ComercialBigJohnLimitadaMember" xlink:type="locator"/>
    <label id="id_14240147_3500436_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_14240147_3500436_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_14240147_3500436_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-20181231.xsd#fmx_CommoditiesAveragePrice" xlink:label="fmx_CommoditiesAveragePrice" xlink:type="locator"/>
    <label id="id_14240147_3554497_3_1" xlink:label="fmx_CommoditiesAveragePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Commodities average price.</label>
    <label id="id_14240147_3554497_1_1" xlink:label="fmx_CommoditiesAveragePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Commodities average price</label>
    <label id="id_14240147_3554497_2_1" xlink:label="fmx_CommoditiesAveragePrice_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average price</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CommoditiesAveragePrice" xlink:to="fmx_CommoditiesAveragePrice_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_CommodityContract1Member" xlink:label="fmx_CommodityContract1Member" xlink:type="locator"/>
    <label id="id_14240147_3497286_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_14240147_3497286_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_14240147_3497286_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-20181231.xsd#fmx_CommodityPriceContractsOfAluminiumInUSDMember" xlink:label="fmx_CommodityPriceContractsOfAluminiumInUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3496970_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_14240147_3496970_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_14240147_3496970_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-20181231.xsd#fmx_CommodityPriceContractsOfSugarInUSDMember" xlink:label="fmx_CommodityPriceContractsOfSugarInUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3496969_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_14240147_3496969_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_14240147_3496969_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CommodityPriceRiskMember" xlink:label="ifrs-full_CommodityPriceRiskMember" xlink:type="locator"/>
    <label id="id_14240147_3418059_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_14240147_3418059_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-20181231.xsd#fmx_CommonSharesOutstandingBDUnitsMember" xlink:label="fmx_CommonSharesOutstandingBDUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3477369_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_14240147_3477369_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_14240147_3477369_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-20181231.xsd#fmx_CommonSharesOutstandingBUnitsMember" xlink:label="fmx_CommonSharesOutstandingBUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3477370_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_14240147_3477370_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_14240147_3477370_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-20181231.xsd#fmx_CommonStockSeriesBMember" xlink:label="fmx_CommonStockSeriesBMember" xlink:type="locator"/>
    <label id="id_14240147_3497021_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_14240147_3497021_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_14240147_3497021_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-20181231.xsd#fmx_CommonStockSeriesDLMember" xlink:label="fmx_CommonStockSeriesDLMember" xlink:type="locator"/>
    <label id="id_14240147_3496999_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_14240147_3496999_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_14240147_3496999_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-20181231.xsd#fmx_CommonStockSeriesDMember" xlink:label="fmx_CommonStockSeriesDMember" xlink:type="locator"/>
    <label id="id_14240147_3498104_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_14240147_3498104_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_14240147_3498104_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-20181231.xsd#fmx_CommonStockSeriesLMember" xlink:label="fmx_CommonStockSeriesLMember" xlink:type="locator"/>
    <label id="id_14240147_3497008_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_14240147_3497008_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_14240147_3497008_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-20181231.xsd#fmx_CommonStockVotingRights1" xlink:label="fmx_CommonStockVotingRights1" xlink:type="locator"/>
    <label id="id_14240147_3470488_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_14240147_3470488_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_14240147_3470488_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-20181231.xsd#fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember" xlink:label="fmx_CompaniaPanamenaDeBebidasSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3501780_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_14240147_3501780_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_14240147_3501780_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfEquityAxis" xlink:label="ifrs-full_ComponentsOfEquityAxis" xlink:type="locator"/>
    <label id="id_14240147_3417632_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_14240147_3417632_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417845_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_14240147_3417845_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_14240147_3417845_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:label="ifrs-full_ComponentsOfOtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTaxAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417846_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_14240147_3417846_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_14240147_3417846_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncome" xlink:label="ifrs-full_ComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3417449_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_14240147_3417449_2_1" xlink:label="ifrs-full_ComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total comprehensive income</label>
    <label id="id_14240147_3417449_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_14240147_3417449_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 other comprehensive income (loss)</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3417452_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_14240147_3417452_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-20181231.xsd#fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3553528_3_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests from continuing operations.</label>
    <label id="id_14240147_3553528_1_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests from continuing operations</label>
    <label id="id_14240147_3553528_2_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling comprehensive income from continuing operations, net of tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations" xlink:to="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3553529_3_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests from discontinuing operations.</label>
    <label id="id_14240147_3553529_1_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income, attributable to non-controlling interests from discontinuing operations</label>
    <label id="id_14240147_3553529_2_1" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling comprehensive income from discontinued operations, net of tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations" xlink:to="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsFromDiscontinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest" xlink:label="fmx_ComprehensiveIncomeAttributableToNoncontrollingInterestsReattributionFromControllingInterest" xlink:type="locator"/>
    <label id="id_14240147_3463973_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_14240147_3463973_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_14240147_3463973_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:label="ifrs-full_ComprehensiveIncomeAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_14240147_3417847_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_14240147_3417847_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_14240147_3417847_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-20181231.xsd#fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest" xlink:label="fmx_ComprehensiveIncomeAttributableToOwnersOfParentBeforeReattributionToNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_14240147_3463970_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_14240147_3463970_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_14240147_3463970_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-20181231.xsd#fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3452945_3_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comprehensive income net of tax from continuing operations.</label>
    <label id="id_14240147_3452945_1_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income net of tax from continuing operations</label>
    <label id="id_14240147_3452945_2_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated comprehensive income for continuing operations</label>
    <label id="id_14240147_3452945_12_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Controlling comprehensive income from continuing operations, net of tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations" xlink:to="fmx_ComprehensiveIncomeNetOfTaxFromContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3452946_3_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Comprehensive income net of tax from discontinuing operations.</label>
    <label id="id_14240147_3452946_1_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Comprehensive income net of tax from discontinuing operations</label>
    <label id="id_14240147_3452946_2_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated comprehensive income from discontinued operations</label>
    <label id="id_14240147_3452946_12_1" xlink:label="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Controlling comprehensive income from discontinued operations, net of tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations" xlink:to="fmx_ComprehensiveIncomeNetOfTaxFromDiscontinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ConcentrateMember" xlink:label="fmx_ConcentrateMember" xlink:type="locator"/>
    <label id="id_14240147_3481584_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_14240147_3481584_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_14240147_3481584_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:label="ifrs-full_ConsolidatedAndSeparateFinancialStatementsAxis" xlink:type="locator"/>
    <label id="id_14240147_3417644_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_14240147_3417644_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ConsolidatedMember" xlink:label="ifrs-full_ConsolidatedMember" xlink:type="locator"/>
    <label id="id_14240147_3417856_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_14240147_3417856_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-20181231.xsd#fmx_ConsolidationAdjustmentsMember" xlink:label="fmx_ConsolidationAdjustmentsMember" xlink:type="locator"/>
    <label id="id_14240147_3509079_3_1" xlink:label="fmx_ConsolidationAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Consolidation adjustments.</label>
    <label id="id_14240147_3509079_1_1" xlink:label="fmx_ConsolidationAdjustmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Consolidation adjustments [member]</label>
    <label id="id_14240147_3509079_2_1" xlink:label="fmx_ConsolidationAdjustmentsMember_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="fmx_ConsolidationAdjustmentsMember" xlink:to="fmx_ConsolidationAdjustmentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ConsultingFeeThroughForeignCurrency" xlink:label="fmx_ConsultingFeeThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_14240147_3443016_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_14240147_3443016_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_14240147_3443016_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-20181231.xsd#fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals" xlink:label="fmx_ContingenciesAssociatedWithPriorAcquisitionsOrDisposals" xlink:type="locator"/>
    <label id="id_14240147_3434093_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_14240147_3434093_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_14240147_3434093_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-20181231.xsd#fmx_ContingenciesGuaranteedAgreementsValue" xlink:label="fmx_ContingenciesGuaranteedAgreementsValue" xlink:type="locator"/>
    <label id="id_14240147_3441767_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_14240147_3441767_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_14240147_3441767_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:type="locator"/>
    <label id="id_14240147_3418080_1_1" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing and discontinued operations [axis]</label>
    <label id="id_14240147_3418080_2_1" xlink:label="ifrs-full_ContinuingAndDiscontinuedOperationsAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Continuing and discontinued operations [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingAndDiscontinuedOperationsAxis" xlink:to="ifrs-full_ContinuingAndDiscontinuedOperationsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:label="ifrs-full_ContinuingInvolvementInDerecognisedFinancialAssetsByTypeOfInstrumentAxis" xlink:type="locator"/>
    <label id="id_14240147_3417651_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_14240147_3417651_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ContinuingOperationsMember" xlink:label="ifrs-full_ContinuingOperationsMember" xlink:type="locator"/>
    <label id="id_14240147_3418082_1_1" xlink:label="ifrs-full_ContinuingOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Continuing operations [member]</label>
    <label id="id_14240147_3418082_2_1" xlink:label="ifrs-full_ContinuingOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Continuing operations [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ContinuingOperationsMember" xlink:to="ifrs-full_ContinuingOperationsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ContributionsDueFromRelatedParties" xlink:label="fmx_ContributionsDueFromRelatedParties" xlink:type="locator"/>
    <label id="id_14240147_3441340_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_14240147_3441340_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_14240147_3441340_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-20181231.xsd#fmx_ContributionsFromNonControllingInterest" xlink:label="fmx_ContributionsFromNonControllingInterest" xlink:type="locator"/>
    <label id="id_14240147_3444801_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_14240147_3444801_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_14240147_3444801_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>
    <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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_COP" xlink:label="currency_COP" xlink:type="locator"/>
    <label id="id_14240147_3417873_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_14240147_3417873_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CorporateDebtInstrumentsHeld" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld" xlink:type="locator"/>
    <label id="id_14240147_3417875_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_14240147_3417875_2_1" xlink:label="ifrs-full_CorporateDebtInstrumentsHeld_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</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-20181231.xsd#fmx_CorporateDebtSecurities1Member" xlink:label="fmx_CorporateDebtSecurities1Member" xlink:type="locator"/>
    <label id="id_14240147_3485133_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_14240147_3485133_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_14240147_3485133_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="fmx-20181231.xsd#fmx_CostOfHedgingReserveMember" xlink:label="fmx_CostOfHedgingReserveMember" xlink:type="locator"/>
    <label id="id_14240147_3540862_3_1" xlink:label="fmx_CostOfHedgingReserveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cost of hedging reserve.</label>
    <label id="id_14240147_3540862_1_1" xlink:label="fmx_CostOfHedgingReserveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Cost of hedging reserve [member]</label>
    <label id="id_14240147_3540862_2_1" xlink:label="fmx_CostOfHedgingReserveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of hedging reserve [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CostOfHedgingReserveMember" xlink:to="fmx_CostOfHedgingReserveMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CostOfSales" xlink:label="ifrs-full_CostOfSales" xlink:type="locator"/>
    <label id="id_14240147_3417481_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_14240147_3417481_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="fmx-20181231.xsd#fmx_CostOfSalesMember" xlink:label="fmx_CostOfSalesMember" xlink:type="locator"/>
    <label id="id_14240147_3531994_3_1" xlink:label="fmx_CostOfSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Cost of sales</label>
    <label id="id_14240147_3531994_1_1" xlink:label="fmx_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_14240147_3531994_2_1" xlink:label="fmx_CostOfSalesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cost of sales [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_CostOfSalesMember" xlink:to="fmx_CostOfSalesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_CostsAndExpenses1" xlink:label="fmx_CostsAndExpenses1" xlink:type="locator"/>
    <label id="id_14240147_3437070_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_14240147_3437070_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_14240147_3437070_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfDomicileMember" xlink:label="ifrs-full_CountryOfDomicileMember" xlink:type="locator"/>
    <label id="id_14240147_3417667_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_14240147_3417667_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfIncorporationOfJointVenture" xlink:label="ifrs-full_CountryOfIncorporationOfJointVenture" xlink:type="locator"/>
    <label id="id_14240147_3417668_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_14240147_3417668_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfAssociate" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfAssociate" xlink:type="locator"/>
    <label id="id_14240147_3418093_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_14240147_3418093_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:label="ifrs-full_CountryOfIncorporationOrResidenceOfSubsidiary" xlink:type="locator"/>
    <label id="id_14240147_3418094_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_14240147_3418094_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_14240147_3417880_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_14240147_3417880_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_CRC" xlink:label="currency_CRC" xlink:type="locator"/>
    <label id="id_14240147_3417881_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_14240147_3417881_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CreationDateAxis" xlink:label="ifrs-full_CreationDateAxis" xlink:type="locator"/>
    <label id="id_14240147_3417485_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_14240147_3417485_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-20181231.xsd#fmx_CrossCurrencySwapsOfBRLAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfBRLAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497062_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_14240147_3497062_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_14240147_3497062_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-20181231.xsd#fmx_CrossCurrencySwapsOfCLPAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfCLPAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497030_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_14240147_3497030_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_14240147_3497030_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-20181231.xsd#fmx_CrossCurrencySwapsOfCOPAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfCOPAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497060_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_14240147_3497060_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_14240147_3497060_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-20181231.xsd#fmx_CrossCurrencySwapsOfMXNAgainstBRLMember" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstBRLMember" xlink:type="locator"/>
    <label id="id_14240147_3510806_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_14240147_3510806_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_14240147_3510806_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-20181231.xsd#fmx_CrossCurrencySwapsOfMXNAgainstUSDMember" xlink:label="fmx_CrossCurrencySwapsOfMXNAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497059_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_14240147_3497059_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_14240147_3497059_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-20181231.xsd#fmx_CumulativeInflationPercentage" xlink:label="fmx_CumulativeInflationPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524394_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_14240147_3524394_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_14240147_3524394_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>
    <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="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_CurrencyAxis" xlink:label="srt_CurrencyAxis" xlink:type="locator"/>
    <label id="id_14240147_3418104_1_1" xlink:label="srt_CurrencyAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currency [Axis]</label>
    <label id="id_14240147_3418104_2_1" xlink:label="srt_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="srt_CurrencyAxis" xlink:to="srt_CurrencyAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencyRiskMember" xlink:label="ifrs-full_CurrencyRiskMember" xlink:type="locator"/>
    <label id="id_14240147_3417893_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_14240147_3417893_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrencySwapContractMember" xlink:label="ifrs-full_CurrencySwapContractMember" xlink:type="locator"/>
    <label id="id_14240147_3417496_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_14240147_3417496_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAdvancesToSuppliers" xlink:label="ifrs-full_CurrentAdvancesToSuppliers" xlink:type="locator"/>
    <label id="id_14240147_3417687_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_14240147_3417687_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssets" xlink:label="ifrs-full_CurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3418106_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_14240147_3418106_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_14240147_3418106_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CurrentAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3417500_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_14240147_3417500_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDerivativeFinancialAssets" xlink:label="ifrs-full_CurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3417694_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_14240147_3417694_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_14240147_3417694_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_CurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3417501_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_14240147_3417501_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_14240147_3417501_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost" xlink:label="ifrs-full_CurrentFinancialLiabilitiesAtAmortisedCost" xlink:type="locator"/>
    <label id="id_14240147_3417508_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_14240147_3417508_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" xlink:type="locator"/>
    <label id="id_14240147_3417510_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_14240147_3417510_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentHeldtomaturityInvestments" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments" xlink:type="locator"/>
    <label id="id_14240147_3417907_1_1" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current held-to-maturity investments</label>
    <label id="id_14240147_3417907_6_1" xlink:label="ifrs-full_CurrentHeldtomaturityInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total fixed rate/variable rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentHeldtomaturityInvestments" xlink:to="ifrs-full_CurrentHeldtomaturityInvestments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInterestPayable" xlink:label="ifrs-full_CurrentInterestPayable" xlink:type="locator"/>
    <label id="id_14240147_3417512_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_14240147_3417512_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentInvestments" xlink:label="ifrs-full_CurrentInvestments" xlink:type="locator"/>
    <label id="id_14240147_3417705_1_1" xlink:label="ifrs-full_CurrentInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current investments</label>
    <label id="id_14240147_3417705_2_1" xlink:label="ifrs-full_CurrentInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments</label>
    <label id="id_14240147_3417705_12_1" xlink:label="ifrs-full_CurrentInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Total investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_CurrentInvestments" xlink:to="ifrs-full_CurrentInvestments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentLiabilities" xlink:label="ifrs-full_CurrentLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3417514_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_14240147_3417514_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_14240147_3417514_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-20181231.xsd#fmx_CurrentLoansToEmployees" xlink:label="fmx_CurrentLoansToEmployees" xlink:type="locator"/>
    <label id="id_14240147_3437105_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_14240147_3437105_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_14240147_3437105_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentMember" xlink:label="ifrs-full_CurrentMember" xlink:type="locator"/>
    <label id="id_14240147_3417515_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_14240147_3417515_2_1" xlink:label="ifrs-full_CurrentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current [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-20181231.xsd#fmx_CurrentPortionOfBankLoansAndNotesPayable" xlink:label="fmx_CurrentPortionOfBankLoansAndNotesPayable" xlink:type="locator"/>
    <label id="id_14240147_3444595_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_14240147_3444595_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_14240147_3444595_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:label="ifrs-full_CurrentPortionOfLongtermBorrowings" xlink:type="locator"/>
    <label id="id_14240147_3418121_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_14240147_3418121_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 non-current debt</label>
    <label id="id_14240147_3418121_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentPrepaidExpenses" xlink:label="ifrs-full_CurrentPrepaidExpenses" xlink:type="locator"/>
    <label id="id_14240147_3417713_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_14240147_3417713_2_1" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Current prepaid expenses</label>
    <label id="id_14240147_3417713_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>
    <label id="id_14240147_3417713_12_1" xlink:label="ifrs-full_CurrentPrepaidExpenses_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">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-20181231.xsd#fmx_CurrentRecoverableTaxes" xlink:label="fmx_CurrentRecoverableTaxes" xlink:type="locator"/>
    <label id="id_14240147_3435609_3_1" xlink:label="fmx_CurrentRecoverableTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Current recoverable taxes.</label>
    <label id="id_14240147_3435609_1_1" xlink:label="fmx_CurrentRecoverableTaxes_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Current recoverable taxes</label>
    <label id="id_14240147_3435609_2_1" xlink:label="fmx_CurrentRecoverableTaxes_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="fmx_CurrentRecoverableTaxes" xlink:to="fmx_CurrentRecoverableTaxes_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_CurrentRestrictedCash" xlink:label="fmx_CurrentRestrictedCash" xlink:type="locator"/>
    <label id="id_14240147_3434465_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_14240147_3434465_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_14240147_3434465_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_14240147_3434465_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_CurrentServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3417527_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_14240147_3417527_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>
    <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-20181231.xsd#fmx_CurrentSundryCreditors" xlink:label="fmx_CurrentSundryCreditors" xlink:type="locator"/>
    <label id="id_14240147_3441857_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_14240147_3441857_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_14240147_3441857_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxAssetsCurrent" xlink:label="ifrs-full_CurrentTaxAssetsCurrent" xlink:type="locator"/>
    <label id="id_14240147_3417528_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_14240147_3417528_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxAssetsNoncurrent" xlink:label="ifrs-full_CurrentTaxAssetsNoncurrent" xlink:type="locator"/>
    <label id="id_14240147_3418129_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_14240147_3418129_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxExpenseIncome" xlink:label="ifrs-full_CurrentTaxExpenseIncome" xlink:type="locator"/>
    <label id="id_14240147_3417916_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_14240147_3417916_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:type="locator"/>
    <label id="id_14240147_3417529_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_14240147_3417529_2_1" xlink:label="ifrs-full_CurrentTaxLiabilitiesCurrent_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="ifrs-full_CurrentTaxLiabilitiesCurrent" xlink:to="ifrs-full_CurrentTaxLiabilitiesCurrent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CurrentTradeReceivables" xlink:label="ifrs-full_CurrentTradeReceivables" xlink:type="locator"/>
    <label id="id_14240147_3417919_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_14240147_3417919_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 accounts receivables, net</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_CustomerrelatedIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3417723_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_14240147_3417723_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DateOfAcquisition2013" xlink:label="ifrs-full_DateOfAcquisition2013" xlink:type="locator"/>
    <label id="id_14240147_3417733_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_14240147_3417733_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DebtSecuritiesMember" xlink:label="ifrs-full_DebtSecuritiesMember" xlink:type="locator"/>
    <label id="id_14240147_3417742_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_14240147_3417742_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-20181231.xsd#fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio" xlink:label="fmx_DebtToEarningBeforeInterestTaxesAndDepreciationAmortizationRatio" xlink:type="locator"/>
    <label id="id_14240147_3526610_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_14240147_3526610_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_14240147_3526610_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-20181231.xsd#fmx_DeconsolidationEffectOfOtherExpenses" xlink:label="fmx_DeconsolidationEffectOfOtherExpenses" xlink:type="locator"/>
    <label id="id_14240147_3461316_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_14240147_3461316_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_14240147_3461316_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-20181231.xsd#fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross" xlink:type="locator"/>
    <label id="id_14240147_3463903_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_14240147_3463903_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_14240147_3463903_2_1" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of Venezuela deconsolidation</label>
    <label id="id_14240147_3463903_12_1" xlink:label="fmx_DeconsolidationEffectReductionOfAssetsPropertyPlantAndEquipmentGross_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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-20181231.xsd#fmx_DeconsolidationOfSubsidiaries" xlink:label="fmx_DeconsolidationOfSubsidiaries" xlink:type="locator"/>
    <label id="id_14240147_3452843_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_14240147_3452843_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_14240147_3452843_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-20181231.xsd#fmx_DecreaseInForeignCurrencyExchangeRatePercentage" xlink:label="fmx_DecreaseInForeignCurrencyExchangeRatePercentage" xlink:type="locator"/>
    <label id="id_14240147_3523707_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_14240147_3523707_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_14240147_3523707_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-20181231.xsd#fmx_DecreaseInForeignCurrencyRateEffectOnEquity" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnEquity" xlink:type="locator"/>
    <label id="id_14240147_3454420_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_14240147_3454420_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_14240147_3454420_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-20181231.xsd#fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:label="fmx_DecreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:type="locator"/>
    <label id="id_14240147_3454418_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_14240147_3454418_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_14240147_3454418_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-20181231.xsd#fmx_DecreaseInProvisionsFromAmnestyAdoption" xlink:label="fmx_DecreaseInProvisionsFromAmnestyAdoption" xlink:type="locator"/>
    <label id="id_14240147_3437332_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_14240147_3437332_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_14240147_3437332_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-20181231.xsd#fmx_DecreaseInProvisionsResultingFromPayments" xlink:label="fmx_DecreaseInProvisionsResultingFromPayments" xlink:type="locator"/>
    <label id="id_14240147_3437331_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_14240147_3437331_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_14240147_3437331_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-20181231.xsd#fmx_DecreaseInProvisionsThroughCancellationAndExpiration" xlink:label="fmx_DecreaseInProvisionsThroughCancellationAndExpiration" xlink:type="locator"/>
    <label id="id_14240147_3437330_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_14240147_3437330_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_14240147_3437330_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3417751_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_14240147_3417751_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:label="ifrs-full_DecreaseThroughLossOfControlOfSubsidiaryPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3417753_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_14240147_3417753_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 deconsolidation 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefaultFinancialStatementsDateMember" xlink:label="ifrs-full_DefaultFinancialStatementsDateMember" xlink:type="locator"/>
    <label id="id_14240147_3417553_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_14240147_3417553_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-20181231.xsd#fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries" xlink:label="fmx_DeferredIncomeTaxAssetAcquisitionOfSubsidiaries" xlink:type="locator"/>
    <label id="id_14240147_3434285_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_14240147_3434285_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_14240147_3434285_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxAssets" xlink:label="ifrs-full_DeferredTaxAssets" xlink:type="locator"/>
    <label id="id_14240147_3417555_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_14240147_3417555_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_14240147_3417555_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-20181231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwards1" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwards1" xlink:type="locator"/>
    <label id="id_14240147_3465777_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_14240147_3465777_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_14240147_3465777_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 period</label>
    <label id="id_14240147_3465777_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 period</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-20181231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsAdditions" xlink:type="locator"/>
    <label id="id_14240147_3434265_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_14240147_3434265_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_14240147_3434265_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-20181231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsForeignCurrencyTranslation" xlink:type="locator"/>
    <label id="id_14240147_3434578_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_14240147_3434578_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_14240147_3434578_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-20181231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsProvisions" xlink:type="locator"/>
    <label id="id_14240147_3434264_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_14240147_3434264_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_14240147_3434264_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-20181231.xsd#fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses" xlink:label="fmx_DeferredTaxAssetsOperatingLossCarryForwardsUsageOfTaxLosses" xlink:type="locator"/>
    <label id="id_14240147_3434262_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_14240147_3434262_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_14240147_3434262_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-20181231.xsd#fmx_DeferredTaxAssetsRelatingToProvisions" xlink:label="fmx_DeferredTaxAssetsRelatingToProvisions" xlink:type="locator"/>
    <label id="id_14240147_3439720_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_14240147_3439720_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_14240147_3439720_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 period</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-20181231.xsd#fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses" xlink:label="fmx_DeferredTaxAssetsUnrealizedExchangeGainsLosses" xlink:type="locator"/>
    <label id="id_14240147_3436230_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_14240147_3436230_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_14240147_3436230_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncome" xlink:label="ifrs-full_DeferredTaxExpenseIncome" xlink:type="locator"/>
    <label id="id_14240147_3417938_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_14240147_3417938_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:label="ifrs-full_DeferredTaxExpenseIncomeAbstract" xlink:type="locator"/>
    <label id="id_14240147_3417557_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_14240147_3417557_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-20181231.xsd#fmx_DeferredTaxExpenseIncomeCurrent" xlink:label="fmx_DeferredTaxExpenseIncomeCurrent" xlink:type="locator"/>
    <label id="id_14240147_3452822_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_14240147_3452822_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_14240147_3452822_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-20181231.xsd#fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees" xlink:type="locator"/>
    <label id="id_14240147_3541729_3_1" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees_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 equity accounted investees.</label>
    <label id="id_14240147_3541729_1_1" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees_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 Equity Accounted Investees</label>
    <label id="id_14240147_3541729_2_1" xlink:label="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees_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 equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees" xlink:to="fmx_DeferredTaxExpenseIncomeNetRecordedInShareOfProfitOfEquityAccountedInvestees_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label id="id_14240147_3418158_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_14240147_3418158_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-20181231.xsd#fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome" xlink:label="fmx_DeferredTaxExpenseIncomeRelatingToComponentsOfAccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3461307_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_14240147_3461307_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_14240147_3461307_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 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:label="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:type="locator"/>
    <label id="id_14240147_3417939_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_14240147_3417939_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences" xlink:to="ifrs-full_DeferredTaxExpenseIncomeRelatingToOriginationAndReversalOfTemporaryDifferences_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet" xlink:label="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet" xlink:type="locator"/>
    <label id="id_14240147_3434346_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_14240147_3434346_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_14240147_3434346_2_1" xlink:label="fmx_DeferredTaxExpenseRecognitionApplicationOfTaxLossesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Recognition) 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-20181231.xsd#fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees" xlink:type="locator"/>
    <label id="id_14240147_3541730_3_1" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees_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 profits of equity accounted investees.</label>
    <label id="id_14240147_3541730_1_1" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees_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 equity accounted investees</label>
    <label id="id_14240147_3541730_2_1" xlink:label="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees_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 equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees" xlink:to="fmx_DeferredTaxIncomeNetRecordedInShareOfTheProfitOfEquityAccountedInvestees_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilities" xlink:label="ifrs-full_DeferredTaxLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3417558_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_14240147_3417558_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_14240147_3417558_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DeferredTaxLiabilityAsset" xlink:label="ifrs-full_DeferredTaxLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3417560_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_14240147_3417560_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 taxes, net</label>
    <label id="id_14240147_3417560_16_1" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" xlink:type="resource" xml:lang="en-US">Balance at the end of the period</label>
    <label id="id_14240147_3417560_17_1" xlink:label="ifrs-full_DeferredTaxLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" xlink:type="resource" xml:lang="en-US">Balance at the beginning of the period</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-20181231.xsd#fmx_DeferredTaxRecoveryPeriod" xlink:label="fmx_DeferredTaxRecoveryPeriod" xlink:type="locator"/>
    <label id="id_14240147_3472511_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_14240147_3472511_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_14240147_3472511_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-20181231.xsd#fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome" xlink:label="fmx_DeferredTaxRelatingToRemeasurementsOfDefinedBenefitLiabilityAccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3461306_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_14240147_3461306_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_14240147_3461306_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:label="ifrs-full_DefinedBenefitObligationAtPresentValue" xlink:type="locator"/>
    <label id="id_14240147_3417562_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_14240147_3417562_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_14240147_3417562_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_14240147_3417562_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-20181231.xsd#fmx_DefinedBenefitObligationFundsAtFairValue" xlink:label="fmx_DefinedBenefitObligationFundsAtFairValue" xlink:type="locator"/>
    <label id="id_14240147_3441562_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_14240147_3441562_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_14240147_3441562_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-20181231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1" xlink:type="locator"/>
    <label id="id_14240147_3446601_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_14240147_3446601_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_14240147_3446601_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1_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_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths1_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive" xlink:type="locator"/>
    <label id="id_14240147_3446605_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_14240147_3446605_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_14240147_3446605_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive_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_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFive_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour" xlink:type="locator"/>
    <label id="id_14240147_3446604_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_14240147_3446604_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_14240147_3446604_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour_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_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearFour_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen" xlink:type="locator"/>
    <label id="id_14240147_3435956_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_14240147_3435956_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_14240147_3435956_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearSixToTen_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2024 to 2028</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-20181231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree" xlink:type="locator"/>
    <label id="id_14240147_3446603_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_14240147_3446603_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_14240147_3446603_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree_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_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearThree_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo" xlink:type="locator"/>
    <label id="id_14240147_3446602_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_14240147_3446602_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_14240147_3446602_2_1" xlink:label="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo_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_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo" xlink:to="fmx_DefinedBenefitPlanExpectedFutureBenefitPaymentYearTwo_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitPlansAxis" xlink:label="ifrs-full_DefinedBenefitPlansAxis" xlink:type="locator"/>
    <label id="id_14240147_3417563_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_14240147_3417563_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DefinedBenefitPlansMember" xlink:label="ifrs-full_DefinedBenefitPlansMember" xlink:type="locator"/>
    <label id="id_14240147_3417940_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_14240147_3417940_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"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationAndAmortisationExpense" xlink:label="ifrs-full_DepreciationAndAmortisationExpense" xlink:type="locator"/>
    <label id="id_14240147_3417764_1_1" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation and amortisation expense</label>
    <label id="id_14240147_3417764_2_1" xlink:label="ifrs-full_DepreciationAndAmortisationExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Depreciation and amortization</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationAndAmortisationExpense" xlink:to="ifrs-full_DepreciationAndAmortisationExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3417768_1_1" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Depreciation, property, plant and equipment</label>
    <label id="id_14240147_3417768_14_1" xlink:label="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Depreciation for the year</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DepreciationPropertyPlantAndEquipment" xlink:to="ifrs-full_DepreciationPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerecognitionContributionFromNonControllingInterests" xlink:label="fmx_DerecognitionContributionFromNonControllingInterests" xlink:type="locator"/>
    <label id="id_14240147_3554037_3_1" xlink:label="fmx_DerecognitionContributionFromNonControllingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derecognition contribution from non controlling interests.</label>
    <label id="id_14240147_3554037_1_1" xlink:label="fmx_DerecognitionContributionFromNonControllingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derecognition Contribution From Non Controlling Interests</label>
    <label id="id_14240147_3554037_2_1" xlink:label="fmx_DerecognitionContributionFromNonControllingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Derecognition) contribution from non-controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerecognitionContributionFromNonControllingInterests" xlink:to="fmx_DerecognitionContributionFromNonControllingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerecognitionOfNoncontrollingInterestUponDisposal" xlink:label="fmx_DerecognitionOfNoncontrollingInterestUponDisposal" xlink:type="locator"/>
    <label id="id_14240147_3553785_3_1" xlink:label="fmx_DerecognitionOfNoncontrollingInterestUponDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derecognition of noncontrolling interest upon disposal.</label>
    <label id="id_14240147_3553785_1_1" xlink:label="fmx_DerecognitionOfNoncontrollingInterestUponDisposal_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Derecognition Of Noncontrolling Interest Upon Disposal</label>
    <label id="id_14240147_3553785_14_1" xlink:label="fmx_DerecognitionOfNoncontrollingInterestUponDisposal_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Derecognition upon disposal of controlling interest in Philippines</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerecognitionOfNoncontrollingInterestUponDisposal" xlink:to="fmx_DerecognitionOfNoncontrollingInterestUponDisposal_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerivativeContractMetHedgingCriteriaMember" xlink:label="fmx_DerivativeContractMetHedgingCriteriaMember" xlink:type="locator"/>
    <label id="id_14240147_3489671_3_1" xlink:label="fmx_DerivativeContractMetHedgingCriteriaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative Contract Met Hedging Criteria [member]</label>
    <label id="id_14240147_3489671_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_14240147_3489671_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerivativeContractMetHedgingCriteriaMember" xlink:to="fmx_DerivativeContractMetHedgingCriteriaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerivativeContractNotMetHedgingCriteriaMember" xlink:label="fmx_DerivativeContractNotMetHedgingCriteriaMember" xlink:type="locator"/>
    <label id="id_14240147_3489672_3_1" xlink:label="fmx_DerivativeContractNotMetHedgingCriteriaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative Contract Not Met Hedging Criteria [member]</label>
    <label id="id_14240147_3489672_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_14240147_3489672_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerivativeContractNotMetHedgingCriteriaMember" xlink:to="fmx_DerivativeContractNotMetHedgingCriteriaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities" xlink:label="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3444630_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_14240147_3444630_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_14240147_3444630_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities" xlink:to="fmx_DerivativeFinancialInstrumentsClassifiedAsFinancingActivities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerivativeFinancialInstrumentsMember" xlink:label="fmx_DerivativeFinancialInstrumentsMember" xlink:type="locator"/>
    <label id="id_14240147_3478918_3_1" xlink:label="fmx_DerivativeFinancialInstrumentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Derivative financial instruments.</label>
    <label id="id_14240147_3478918_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_14240147_3478918_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DerivativeFinancialInstrumentsMember" xlink:to="fmx_DerivativeFinancialInstrumentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DerivativeFinancialLiabilitiesMember" xlink:label="fmx_DerivativeFinancialLiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3509193_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_14240147_3509193_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_14240147_3509193_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:label="ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:type="locator"/>
    <label id="id_14240147_3417570_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_14240147_3417570_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows" xlink:to="ifrs-full_DerivativeFinancialLiabilitiesUndiscountedCashFlows_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3514755_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_14240147_3514755_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_14240147_3514755_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory" xlink:to="fmx_DescriptionOfAccountingPolicyForAdministrativeAndSellingExpensesExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3521310_3_1" xlink:label="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of the entity's accounting policy for basis of consolidation.</label>
    <label id="id_14240147_3521310_1_1" xlink:label="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for basis of consolidation [text block]</label>
    <label id="id_14240147_3521310_2_1" xlink:label="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Basis of consolidation</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory" xlink:to="fmx_DescriptionOfAccountingPolicyForBasisOfConsolidationExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3417777_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for borrowing costs [text block]</label>
    <label id="id_14240147_3417777_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Borrowing costs</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBorrowingCostsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3418174_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for business combinations [text block]</label>
    <label id="id_14240147_3418174_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business combinations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForBusinessCombinationsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3417782_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for derivative financial instruments [text block]</label>
    <label id="id_14240147_3417782_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForDerivativeFinancialInstrumentsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3417784_1_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForEarningsPerShareExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of accounting policy for earnings per share [text block]</label>
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    <label id="id_14240147_3417590_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForProvisionsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory" xlink:label="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3514754_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>
    <label id="id_14240147_3514754_1_1" xlink:label="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" 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>
    <label id="id_14240147_3514754_2_1" xlink:label="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recognition of the effects of inflation in countries with hyperinflationary economic environments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory" xlink:to="fmx_DescriptionOfAccountingPolicyForRecognitionOfEffectsOfInflationInCountriesWithHyperinflationaryEconomicEnvironmentsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:type="locator"/>
    <label id="id_14240147_3417965_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>
    <label id="id_14240147_3417965_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Revenue recognition</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRecognitionOfRevenue_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3417592_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>
    <label id="id_14240147_3417592_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and cash equivalents and restricted cash</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForRestrictedCashAndCashEquivalentsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3417594_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>
    <label id="id_14240147_3417594_2_1" xlink:label="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Share-based payments arrangements</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory" xlink:to="ifrs-full_DescriptionOfAccountingPolicyForSharebasedPaymentTransactionsExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfDisability" xlink:label="fmx_DescriptionOfDisability" xlink:type="locator"/>
    <label id="id_14240147_3469425_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_14240147_3469425_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_14240147_3469425_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfDisability" xlink:to="fmx_DescriptionOfDisability_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfDividendPayable" xlink:label="fmx_DescriptionOfDividendPayable" xlink:type="locator"/>
    <label id="id_14240147_3469399_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_14240147_3469399_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>
    <label id="id_14240147_3469399_2_1" xlink:label="fmx_DescriptionOfDividendPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Description for dividend payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfDividendPayable" xlink:to="fmx_DescriptionOfDividendPayable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfFunctionalCurrency" xlink:label="ifrs-full_DescriptionOfFunctionalCurrency" xlink:type="locator"/>
    <label id="id_14240147_3418009_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>
    <label id="id_14240147_3418009_2_1" xlink:label="ifrs-full_DescriptionOfFunctionalCurrency_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Functional / Recording Currency</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfFunctionalCurrency" xlink:to="ifrs-full_DescriptionOfFunctionalCurrency_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument" xlink:label="ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument" xlink:type="locator"/>
    <label id="id_14240147_3418529_1_1" xlink:label="ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of line item in statement of financial position that includes hedging instrument</label>
    <label id="id_14240147_3418529_2_1" xlink:label="ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial position name in which is included the cash flow hedge</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument" xlink:to="ifrs-full_DescriptionOfLineItemInStatementOfFinancialPositionThatIncludesHedgingInstrument_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfMortality" xlink:label="fmx_DescriptionOfMortality" xlink:type="locator"/>
    <label id="id_14240147_3469424_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>
    <label id="id_14240147_3469424_1_1" xlink:label="fmx_DescriptionOfMortality_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of Mortality</label>
    <label id="id_14240147_3469424_2_1" xlink:label="fmx_DescriptionOfMortality_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Mortality</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfMortality" xlink:to="fmx_DescriptionOfMortality_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary" xlink:label="fmx_DescriptionOfNatureOfEntityRelationshipWithSubsidiary" xlink:type="locator"/>
    <label id="id_14240147_3470299_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_14240147_3470299_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_14240147_3470299_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithAssociate" xlink:type="locator"/>
    <label id="id_14240147_3418318_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_14240147_3418318_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture" xlink:label="ifrs-full_DescriptionOfNatureOfEntitysRelationshipWithJointVenture" xlink:type="locator"/>
    <label id="id_14240147_3418320_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_14240147_3418320_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship" xlink:label="ifrs-full_DescriptionOfNatureOfRelatedPartyRelationship" xlink:type="locator"/>
    <label id="id_14240147_3418050_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_14240147_3418050_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-20181231.xsd#fmx_DescriptionOfOptionContractWithNoncontrollingInterest" xlink:label="fmx_DescriptionOfOptionContractWithNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_14240147_3469769_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_14240147_3469769_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_14240147_3469769_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-20181231.xsd#fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax" xlink:label="fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3556578_3_1" xlink:label="fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The description of reclassification adjustments on cash flow hedges for which the hedged item affected profit or loss, net of tax.</label>
    <label id="id_14240147_3556578_1_1" xlink:label="fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Description of reclassification adjustments on cash flow hedges for which hedged item affected profit or loss, net of tax</label>
    <label id="id_14240147_3556578_2_1" xlink:label="fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit and loss category impacted due to the reclassification</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax" xlink:to="fmx_DescriptionOfReclassificationAdjustmentsOnCashFlowHedgesForWhichHedgedItemAffectedProfitOrLossNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DescriptionOfRestOfEmployeeTurnover" xlink:label="fmx_DescriptionOfRestOfEmployeeTurnover" xlink:type="locator"/>
    <label id="id_14240147_3469423_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_14240147_3469423_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_14240147_3469423_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-20181231.xsd#fmx_DescriptionOfTypeOfEconomy" xlink:label="fmx_DescriptionOfTypeOfEconomy" xlink:type="locator"/>
    <label id="id_14240147_3470675_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_14240147_3470675_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_14240147_3470675_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-20181231.xsd#fmx_DescriptionOfVariableCapitalAmount" xlink:label="fmx_DescriptionOfVariableCapitalAmount" xlink:type="locator"/>
    <label id="id_14240147_3470674_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_14240147_3470674_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_14240147_3470674_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-20181231.xsd#fmx_DICOMMember" xlink:label="fmx_DICOMMember" xlink:type="locator"/>
    <label id="id_14240147_3509030_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_14240147_3509030_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_14240147_3509030_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"/>
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    <label id="id_14240147_3418390_1_1" xlink:label="ifrs-full_DisclosureOfBusinessCombinationsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about business combination [table]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfCarryingAmountAndValueInUseOfInvestmentsInAssociatesAndJointVenturesAbstract" xlink:label="fmx_DisclosureOfCarryingAmountAndValueInUseOfInvestmentsInAssociatesAndJointVenturesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3428950_3_1" xlink:label="fmx_DisclosureOfCarryingAmountAndValueInUseOfInvestmentsInAssociatesAndJointVenturesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of carrying amount and value in use of investments in associates and joint ventures.</label>
    <label id="id_14240147_3428950_1_1" xlink:label="fmx_DisclosureOfCarryingAmountAndValueInUseOfInvestmentsInAssociatesAndJointVenturesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of carrying amount and value in use of investments in associates and joint ventures [abstract]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3418810_1_1" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash and cash equivalents [text block]</label>
    <label id="id_14240147_3418810_2_1" xlink:label="ifrs-full_DisclosureOfCashAndCashEquivalentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash and Cash Equivalents</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfCashFlowsHedgeExplanatory" xlink:label="fmx_DisclosureOfCashFlowsHedgeExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3541748_3_1" xlink:label="fmx_DisclosureOfCashFlowsHedgeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of cash flows hedge.</label>
    <label id="id_14240147_3541748_1_1" xlink:label="fmx_DisclosureOfCashFlowsHedgeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of cash flows hedge Explanatory</label>
    <label id="id_14240147_3541748_2_1" xlink:label="fmx_DisclosureOfCashFlowsHedgeExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Cash Flows Hedge Exposures</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfCashFlowsHedgeExplanatory" xlink:to="fmx_DisclosureOfCashFlowsHedgeExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory" xlink:label="fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3515905_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>
    <label id="id_14240147_3515905_1_1" xlink:label="fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Changes in Balance of Defined Benefit Obligation for Post-Employment Explanatory</label>
    <label id="id_14240147_3515905_2_1" xlink:label="fmx_DisclosureOfChangesInBalanceOfDefinedBenefitObligationForPostemploymentExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Changes in the Balance of the Defined Benefit Obligation for Post-employment</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory" xlink:label="fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519660_3_1" xlink:label="fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of changes in foreign exchange rates.</label>
    <label id="id_14240147_3519660_1_1" xlink:label="fmx_DisclosureOfChangesInForeignExchangeRatesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Changes In Foreign Exchange Rates [text block]</label>
    <label id="id_14240147_3519660_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-20181231.xsd#fmx_DisclosureOfChangesInInventoriesExplanatory" xlink:label="fmx_DisclosureOfChangesInInventoriesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519613_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>
    <label id="id_14240147_3519613_1_1" xlink:label="fmx_DisclosureOfChangesInInventoriesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Changes In Inventories [text block]</label>
    <label id="id_14240147_3519613_2_1" xlink:label="fmx_DisclosureOfChangesInInventoriesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Changes in Inventories</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfChangesInInventoriesExplanatory" xlink:to="fmx_DisclosureOfChangesInInventoriesExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfChangesInNonControllingInterestExplanatory" xlink:label="fmx_DisclosureOfChangesInNonControllingInterestExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519000_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_14240147_3519000_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_14240147_3519000_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfChangesInNonControllingInterestExplanatory" xlink:to="fmx_DisclosureOfChangesInNonControllingInterestExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory" xlink:label="fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519569_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_14240147_3519569_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>
    <label id="id_14240147_3519569_2_1" xlink:label="fmx_DisclosureOfChangesInTaxLossCarryforwardsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Changes in the Balance of Tax Loss Carryforwards</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:type="locator"/>
    <label id="id_14240147_3419037_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>
    <label id="id_14240147_3419037_2_1" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [abstract]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:type="locator"/>
    <label id="id_14240147_3418395_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>
    <label id="id_14240147_3418395_2_1" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [line items]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:type="locator"/>
    <label id="id_14240147_3418609_1_1" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</label>
    <label id="id_14240147_3418609_2_1" xlink:label="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of classes of share capital [table]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfClassesOfShareCapitalTable" xlink:to="ifrs-full_DisclosureOfClassesOfShareCapitalTable_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory" xlink:label="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3529163_3_1" xlink:label="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of commitments with related parties.</label>
    <label id="id_14240147_3529163_1_1" xlink:label="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Commitments With Related Parties [text block]</label>
    <label id="id_14240147_3529163_2_1" xlink:label="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Commitments with Related Parties</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory" xlink:to="fmx_DisclosureOfCommitmentsWithRelatedPartiesExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory" xlink:label="fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3518979_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>
    <label id="id_14240147_3518979_1_1" xlink:label="fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Components Of Income Tax Expense [Text block]</label>
    <label id="id_14240147_3518979_2_1" xlink:label="fmx_DisclosureOfComponentsOfIncomeTaxExpenseExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Major Components of Income Tax Expense</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfCrossCurrencySwapContractExplanatory" xlink:label="fmx_DisclosureOfCrossCurrencySwapContractExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3518032_3_1" xlink:label="fmx_DisclosureOfCrossCurrencySwapContractExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of cross currency swap contract.</label>
    <label id="id_14240147_3518032_1_1" xlink:label="fmx_DisclosureOfCrossCurrencySwapContractExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Cross Currency Swap Contract [text block]</label>
    <label id="id_14240147_3518032_2_1" xlink:label="fmx_DisclosureOfCrossCurrencySwapContractExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of Outstanding Cross Currency Swap Agreements</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3418615_1_1" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of deferred taxes [text block]</label>
    <label id="id_14240147_3418615_2_1" xlink:label="ifrs-full_DisclosureOfDeferredTaxesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Deferred Income Tax</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory" xlink:label="fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3517859_3_1" xlink:label="fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of defined benefit plan expected future benefit payments.</label>
    <label id="id_14240147_3517859_1_1" xlink:label="fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of Defined Benefit Plan Expected Future Benefit Payments [text block]</label>
    <label id="id_14240147_3517859_2_1" xlink:label="fmx_DisclosureOfDefinedBenefitPlanExpectedFutureBenefitPaymentsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Defined Benefit Plan Expected Future Benefit Payments</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfDefinedBenefitPlansAbstract" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract" xlink:type="locator"/>
    <label id="id_14240147_3418824_1_1" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of defined benefit plans [abstract]</label>
    <label id="id_14240147_3418824_2_1" xlink:label="ifrs-full_DisclosureOfDefinedBenefitPlansAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of defined benefit plans [abstract]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfDefinedBenefitPlansExpenseRecognizedInIncomeStatementExplanatory" xlink:label="fmx_DisclosureOfDefinedBenefitPlansExpenseRecognizedInIncomeStatementExplanatory" xlink:type="locator"/>
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    <label id="id_14240147_3418860_1_1" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial instruments [table]</label>
    <label id="id_14240147_3418860_2_1" xlink:label="ifrs-full_DisclosureOfFinancialInstrumentsTable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about financial instruments [table]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfFinancialInstrumentsToHedgeExposureToForeignExchangeRatesAndInterestRateExplanatory" xlink:label="fmx_DisclosureOfFinancialInstrumentsToHedgeExposureToForeignExchangeRatesAndInterestRateExplanatory" xlink:type="locator"/>
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    <label id="id_14240147_3419092_1_1" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [abstract]</label>
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    <label id="id_14240147_3418668_1_1" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesHeldForTradingExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities held for trading [text block]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems" xlink:type="locator"/>
    <label id="id_14240147_3418669_1_1" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [line items]</label>
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    <label id="id_14240147_3418670_1_1" xlink:label="ifrs-full_DisclosureOfFinancialLiabilitiesTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of financial liabilities [table]</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfFirstTimeAdoptionExplanatory" xlink:label="ifrs-full_DisclosureOfFirstTimeAdoptionExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3418861_1_1" xlink:label="ifrs-full_DisclosureOfFirstTimeAdoptionExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of first-time adoption [text block]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfFixedAssetsWithEstimatedUsefulLifeExplanatory" xlink:label="fmx_DisclosureOfFixedAssetsWithEstimatedUsefulLifeExplanatory" xlink:type="locator"/>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfGeographicalAreasAbstract" xlink:label="ifrs-full_DisclosureOfGeographicalAreasAbstract" xlink:type="locator"/>
    <label id="id_14240147_3418673_1_1" xlink:label="ifrs-full_DisclosureOfGeographicalAreasAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of geographical areas [abstract]</label>
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    <label id="id_14240147_3418863_1_1" xlink:label="ifrs-full_DisclosureOfGeographicalAreasTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of geographical areas [table]</label>
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    <label id="id_14240147_3419097_1_1" xlink:label="ifrs-full_DisclosureOfHedgeAccountingLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about hedges [line items]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfHyperinflationaryReportingAbstract" xlink:label="fmx_DisclosureOfHyperinflationaryReportingAbstract" xlink:type="locator"/>
    <label id="id_14240147_3426360_3_1" xlink:label="fmx_DisclosureOfHyperinflationaryReportingAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of hyperinflationary reporting.</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory" xlink:label="fmx_DisclosureOfIncomeStatementOfSignificantAssociateExplanatory" xlink:type="locator"/>
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    <label id="id_14240147_3418877_1_1" xlink:label="ifrs-full_DisclosureOfInformationAboutKeyManagementPersonnelExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of information about key management personnel [text block]</label>
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    <label id="id_14240147_3418467_1_1" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [abstract]</label>
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    <label id="id_14240147_3419130_1_1" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of intangible assets [text block]</label>
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    <label id="id_14240147_3418886_1_1" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of detailed information about intangible assets [line items]</label>
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    <label id="id_14240147_3418715_1_1" xlink:label="ifrs-full_DisclosureOfIntangibleAssetsMaterialToEntityAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of intangible assets material to entity [abstract]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfInvestmentsClassifiedAsAmortizedCostExplanatory" xlink:label="fmx_DisclosureOfInvestmentsClassifiedAsAmortizedCostExplanatory" xlink:type="locator"/>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfInvestmentsInAssociatesAndJointVenturesLineItems" xlink:label="fmx_DisclosureOfInvestmentsInAssociatesAndJointVenturesLineItems" xlink:type="locator"/>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfSummarizedFinancialInformationExplanatory" xlink:label="fmx_DisclosureOfSummarizedFinancialInformationExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3516569_3_1" xlink:label="fmx_DisclosureOfSummarizedFinancialInformationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of summarized financial information.</label>
    <label id="id_14240147_3516569_1_1" xlink:label="fmx_DisclosureOfSummarizedFinancialInformationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure Of Summarized Financial Information [text block]</label>
    <label id="id_14240147_3516569_2_1" xlink:label="fmx_DisclosureOfSummarizedFinancialInformationExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Financial Information of Coca-Cola FEMSA</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatesExplanatory" xlink:label="fmx_DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519587_3_1" xlink:label="fmx_DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Disclosure of summary of balances and transactions with related parties and affiliates.</label>
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    <label id="id_14240147_3519587_2_1" xlink:label="fmx_DisclosureOfSummaryOfBalancesAndTransactionsWithRelatedPartiesAndAffiliatesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Summary of Balances and Transactions with Related Parties and Affiliated Companies</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:label="ifrs-full_DisclosureOfSummaryOfSignificantAccountingPoliciesExplanatory" xlink:type="locator"/>
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    <loc xlink:href="fmx-20181231.xsd#fmx_DisclosureOfTaxLossCarryforwardsExplanatory" xlink:label="fmx_DisclosureOfTaxLossCarryforwardsExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3518848_3_1" xlink:label="fmx_DisclosureOfTaxLossCarryforwardsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">The disclosure of tax loss carry-forwards.</label>
    <label id="id_14240147_3518848_1_1" xlink:label="fmx_DisclosureOfTaxLossCarryforwardsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Disclosure of tax loss carry-forwards [text block]</label>
    <label id="id_14240147_3518848_2_1" xlink:label="fmx_DisclosureOfTaxLossCarryforwardsExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Schedule of Tax Loss Carryforwards</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:type="locator"/>
    <label id="id_14240147_3419472_1_1" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_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 [abstract]</label>
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    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3419640_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_14240147_3419640_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory" xlink:to="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementLineItems" xlink:type="locator"/>
    <label id="id_14240147_3419219_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_14240147_3419219_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:label="ifrs-full_DisclosureOfTermsAndConditionsOfSharebasedPaymentArrangementTable" xlink:type="locator"/>
    <label id="id_14240147_3419473_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_14240147_3419473_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3419641_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_14240147_3419641_2_1" xlink:label="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade Accounts Receivable, Net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory" xlink:to="ifrs-full_DisclosureOfTradeAndOtherReceivablesExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3419874_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_14240147_3419874_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3419474_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_14240147_3419474_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesLineItems" xlink:type="locator"/>
    <label id="id_14240147_3419475_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_14240147_3419475_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:label="ifrs-full_DisclosureOfTransactionsBetweenRelatedPartiesTable" xlink:type="locator"/>
    <label id="id_14240147_3419644_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_14240147_3419644_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-20181231.xsd#fmx_DisclosureOfTrustAssetExplanatory" xlink:label="fmx_DisclosureOfTrustAssetExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3520721_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_14240147_3520721_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_14240147_3520721_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-20181231.xsd#fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory" xlink:label="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519665_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_14240147_3519665_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_14240147_3519665_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory" xlink:to="fmx_DisclosureOfUnauditedProFormaFinancialDataExplanatory_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DiscontinuedOperationsMember" xlink:label="ifrs-full_DiscontinuedOperationsMember" xlink:type="locator"/>
    <label id="id_14240147_3419484_1_1" xlink:label="ifrs-full_DiscontinuedOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discontinued operations [member]</label>
    <label id="id_14240147_3419484_2_1" xlink:label="ifrs-full_DiscontinuedOperationsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discontinued operations [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_DiscontinuedOperationsMember" xlink:to="ifrs-full_DiscontinuedOperationsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DiscountRateMinusOnePercentMember" xlink:label="fmx_DiscountRateMinusOnePercentMember" xlink:type="locator"/>
    <label id="id_14240147_3501179_3_1" xlink:label="fmx_DiscountRateMinusOnePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discount Rates-1%.</label>
    <label id="id_14240147_3501179_1_1" xlink:label="fmx_DiscountRateMinusOnePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount Rate Minus One Percent [member]</label>
    <label id="id_14240147_3501179_2_1" xlink:label="fmx_DiscountRateMinusOnePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate -1% [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DiscountRateMinusOnePercentMember" xlink:to="fmx_DiscountRateMinusOnePercentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DiscountRatePlusOnePercentMember" xlink:label="fmx_DiscountRatePlusOnePercentMember" xlink:type="locator"/>
    <label id="id_14240147_3501181_3_1" xlink:label="fmx_DiscountRatePlusOnePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Discount Rates+1%.</label>
    <label id="id_14240147_3501181_1_1" xlink:label="fmx_DiscountRatePlusOnePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Discount Rate Plus One Percent [member]</label>
    <label id="id_14240147_3501181_2_1" xlink:label="fmx_DiscountRatePlusOnePercentMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Discount rate +1% [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DiscountRatePlusOnePercentMember" xlink:to="fmx_DiscountRatePlusOnePercentMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DispensadorasDeCafeSAPIDeCVMember" xlink:label="fmx_DispensadorasDeCafeSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3529034_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_14240147_3529034_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_14240147_3529034_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DispensadorasDeCafeSAPIDeCVMember" xlink:to="fmx_DispensadorasDeCafeSAPIDeCVMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DisposalOfLongLivedAssets" xlink:label="fmx_DisposalOfLongLivedAssets" xlink:type="locator"/>
    <label id="id_14240147_3434111_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_14240147_3434111_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_14240147_3434111_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3419488_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_14240147_3419488_2_1" xlink:label="ifrs-full_DisposalsIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:label="ifrs-full_DisposalsPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3419658_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_14240147_3419658_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DistributionCosts" xlink:label="ifrs-full_DistributionCosts" xlink:type="locator"/>
    <label id="id_14240147_3419490_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_14240147_3419490_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-20181231.xsd#fmx_DistributionEquipmentMember" xlink:label="fmx_DistributionEquipmentMember" xlink:type="locator"/>
    <label id="id_14240147_3502760_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_14240147_3502760_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_14240147_3502760_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-20181231.xsd#fmx_DistributionRights1Member" xlink:label="fmx_DistributionRights1Member" xlink:type="locator"/>
    <label id="id_14240147_3477122_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_14240147_3477122_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_14240147_3477122_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-20181231.xsd#fmx_DividendAnnouncementMember" xlink:label="fmx_DividendAnnouncementMember" xlink:type="locator"/>
    <label id="id_14240147_3513443_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_14240147_3513443_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_14240147_3513443_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-20181231.xsd#fmx_DividendDeclaredAndPaid" xlink:label="fmx_DividendDeclaredAndPaid" xlink:type="locator"/>
    <label id="id_14240147_3453996_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_14240147_3453996_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_14240147_3453996_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-20181231.xsd#fmx_DividendDeclaredAndPaidPerShare" xlink:label="fmx_DividendDeclaredAndPaidPerShare" xlink:type="locator"/>
    <label id="id_14240147_3522801_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_14240147_3522801_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_14240147_3522801_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-20181231.xsd#fmx_DividendInstallmentPeriod" xlink:label="fmx_DividendInstallmentPeriod" xlink:type="locator"/>
    <label id="id_14240147_3470922_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_14240147_3470922_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_14240147_3470922_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendPayables" xlink:label="ifrs-full_DividendPayables" xlink:type="locator"/>
    <label id="id_14240147_3419887_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_14240147_3419887_2_1" xlink:label="ifrs-full_DividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Dividend approved to be paid</label>
    <label id="id_14240147_3419887_12_1" xlink:label="ifrs-full_DividendPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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-20181231.xsd#fmx_DividendPaymentMethodAxis" xlink:label="fmx_DividendPaymentMethodAxis" xlink:type="locator"/>
    <label id="id_14240147_3475703_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_14240147_3475703_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_14240147_3475703_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-20181231.xsd#fmx_DividendPaymentMethodDomain" xlink:label="fmx_DividendPaymentMethodDomain" xlink:type="locator"/>
    <label id="id_14240147_3480444_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_14240147_3480444_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_14240147_3480444_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-20181231.xsd#fmx_DividendRate" xlink:label="fmx_DividendRate" xlink:type="locator"/>
    <label id="id_14240147_3526143_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_14240147_3526143_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_14240147_3526143_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-20181231.xsd#fmx_DividendsApprovedDate" xlink:label="fmx_DividendsApprovedDate" xlink:type="locator"/>
    <label id="id_14240147_3470981_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_14240147_3470981_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_14240147_3470981_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaid" xlink:label="ifrs-full_DividendsPaid" xlink:type="locator"/>
    <label id="id_14240147_3419659_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_14240147_3419659_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:label="ifrs-full_DividendsPaidToEquityHoldersOfParentClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3419890_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_14240147_3419890_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:label="ifrs-full_DividendsPaidToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3419664_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_14240147_3419664_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsReceived" xlink:label="ifrs-full_DividendsReceived" xlink:type="locator"/>
    <label id="id_14240147_3419492_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_14240147_3419492_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DividendsReceivedClassifiedAsInvestingActivities" xlink:label="ifrs-full_DividendsReceivedClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3419892_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_14240147_3419892_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 equity accounted investees</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-20181231.xsd#fmx_DocumentAndEntityInformationAbstract" xlink:label="fmx_DocumentAndEntityInformationAbstract" xlink:type="locator"/>
    <label id="id_14240147_3548748_3_1" xlink:label="fmx_DocumentAndEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Document and entity information.</label>
    <label id="id_14240147_3548748_1_1" xlink:label="fmx_DocumentAndEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Document and entity information [abstract]</label>
    <label id="id_14240147_3548748_2_1" xlink:label="fmx_DocumentAndEntityInformationAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:type="locator"/>
    <label id="id_14240147_3419904_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_14240147_3419904_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" xlink:type="locator"/>
    <label id="id_14240147_3419905_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_14240147_3419905_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentInformationLineItems" xlink:label="dei_DocumentInformationLineItems" xlink:type="locator"/>
    <label id="id_14240147_3419907_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_14240147_3419907_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentInformationTable" xlink:label="dei_DocumentInformationTable" xlink:type="locator"/>
    <label id="id_14240147_3419501_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_14240147_3419501_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" xlink:type="locator"/>
    <label id="id_14240147_3419242_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_14240147_3419242_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_DocumentType" xlink:label="dei_DocumentType" xlink:type="locator"/>
    <label id="id_14240147_3419909_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_14240147_3419909_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_DonationsAndSubsidiesExpense" xlink:label="ifrs-full_DonationsAndSubsidiesExpense" xlink:type="locator"/>
    <label id="id_14240147_3419911_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_14240147_3419911_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-20181231.xsd#fmx_DonationsToItesmMember" xlink:label="fmx_DonationsToItesmMember" xlink:type="locator"/>
    <label id="id_14240147_3553994_3_1" xlink:label="fmx_DonationsToItesmMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Donations to ITESM.</label>
    <label id="id_14240147_3553994_1_1" xlink:label="fmx_DonationsToItesmMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Donations to ITESM [member]</label>
    <label id="id_14240147_3553994_2_1" xlink:label="fmx_DonationsToItesmMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Donations to ITESM [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_DonationsToItesmMember" xlink:to="fmx_DonationsToItesmMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_DonationsToRelatedPartyTransactions" xlink:label="fmx_DonationsToRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3441654_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_14240147_3441654_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_14240147_3441654_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-20181231.xsd#fmx_E1PuertoDeLiverpoolSABDeCVMember" xlink:label="fmx_E1PuertoDeLiverpoolSABDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3502580_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_14240147_3502580_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_14240147_3502580_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareAbstract" xlink:label="ifrs-full_EarningsPerShareAbstract" xlink:type="locator"/>
    <label id="id_14240147_3419251_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_14240147_3419251_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareExplanatory" xlink:label="ifrs-full_EarningsPerShareExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3419916_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_14240147_3419916_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareLineItems" xlink:label="ifrs-full_EarningsPerShareLineItems" xlink:type="locator"/>
    <label id="id_14240147_3419252_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_14240147_3419252_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EarningsPerShareTable" xlink:label="ifrs-full_EarningsPerShareTable" xlink:type="locator"/>
    <label id="id_14240147_3419253_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_14240147_3419253_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_14240147_3419507_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_14240147_3419507_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-20181231.xsd#fmx_EffectOfAcquisitionMember" xlink:label="fmx_EffectOfAcquisitionMember" xlink:type="locator"/>
    <label id="id_14240147_3478039_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_14240147_3478039_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_14240147_3478039_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-20181231.xsd#fmx_EffectOfCumulativeInflationPercentageRecognised" xlink:label="fmx_EffectOfCumulativeInflationPercentageRecognised" xlink:type="locator"/>
    <label id="id_14240147_3524884_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_14240147_3524884_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_14240147_3524884_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-20181231.xsd#fmx_EffectOfCumulativeInflationRecognitionPeriod" xlink:label="fmx_EffectOfCumulativeInflationRecognitionPeriod" xlink:type="locator"/>
    <label id="id_14240147_3469432_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_14240147_3469432_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_14240147_3469432_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:label="ifrs-full_EffectOfExchangeRateChangesOnCashAndCashEquivalents" xlink:type="locator"/>
    <label id="id_14240147_3419690_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_14240147_3419690_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-20181231.xsd#fmx_EffectOnValuation" xlink:label="fmx_EffectOnValuation" xlink:type="locator"/>
    <label id="id_14240147_3469417_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_14240147_3469417_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_14240147_3469417_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-20181231.xsd#fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation" xlink:label="fmx_EffectsOfFairValueDeterminedByPurchasePriceAllocation" xlink:type="locator"/>
    <label id="id_14240147_3437072_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_14240147_3437072_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_14240147_3437072_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-20181231.xsd#fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember" xlink:label="fmx_EightPointTwoSevenPercentageDebtBondsMaturingOnTwoThousandTwentyOneMember" xlink:type="locator"/>
    <label id="id_14240147_3503072_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_14240147_3503072_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_14240147_3503072_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>
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    <loc xlink:href="fmx-20181231.xsd#fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities" xlink:label="fmx_EmployeeBenefitPaidClassifiedAsOperatingActivities" xlink:type="locator"/>
    <label id="id_14240147_3437148_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_14240147_3437148_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_14240147_3437148_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EmployeeBenefitsExpense" xlink:label="ifrs-full_EmployeeBenefitsExpense" xlink:type="locator"/>
    <label id="id_14240147_3419930_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_14240147_3419930_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-20181231.xsd#fmx_EmployeeProfitSharing" xlink:label="fmx_EmployeeProfitSharing" xlink:type="locator"/>
    <label id="id_14240147_3441863_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_14240147_3441863_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_14240147_3441863_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-20181231.xsd#fmx_EmployeeProfitSharingPayableMember" xlink:label="fmx_EmployeeProfitSharingPayableMember" xlink:type="locator"/>
    <label id="id_14240147_3480537_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_14240147_3480537_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_14240147_3480537_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" xlink:type="locator"/>
    <label id="id_14240147_3419937_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_14240147_3419937_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:type="locator"/>
    <label id="id_14240147_3419274_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_14240147_3419274_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" xlink:type="locator"/>
    <label id="id_14240147_3419277_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_14240147_3419277_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityDomain" xlink:label="dei_EntityDomain" xlink:type="locator"/>
    <label id="id_14240147_3419278_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_14240147_3419278_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" xlink:type="locator"/>
    <label id="id_14240147_3419279_1_1" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</label>
    <label id="id_14240147_3419279_2_1" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc"/>
    <loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" xlink:type="locator"/>
    <label id="id_14240147_3419281_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_14240147_3419281_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityListingsExchangeAxis" xlink:label="dei_EntityListingsExchangeAxis" xlink:type="locator"/>
    <label id="id_14240147_3419716_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_14240147_3419716_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" xlink:type="locator"/>
    <label id="id_14240147_3419722_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_14240147_3419722_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" xlink:type="locator"/>
    <label id="id_14240147_3419724_1_1" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Entity Shell Company</label>
    <label id="id_14240147_3419724_2_1" xlink:label="dei_EntityShellCompany_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Entity Shell Company</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForAssociatesMember" xlink:label="ifrs-full_EntitysTotalForAssociatesMember" xlink:type="locator"/>
    <label id="id_14240147_3419727_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_14240147_3419727_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:label="ifrs-full_EntitysTotalForBusinessCombinationsMember" xlink:type="locator"/>
    <label id="id_14240147_3419292_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_14240147_3419292_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForCashgeneratingUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3419949_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_14240147_3419949_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:label="ifrs-full_EntitysTotalForImpairmentOfFinancialAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3419294_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_14240147_3419294_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:label="ifrs-full_EntitysTotalForIndividualAssetsOrCashgeneratingUnitsMember" xlink:type="locator"/>
    <label id="id_14240147_3419728_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_14240147_3419728_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForJointVenturesMember" xlink:label="ifrs-full_EntitysTotalForJointVenturesMember" xlink:type="locator"/>
    <label id="id_14240147_3419731_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_14240147_3419731_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:label="ifrs-full_EntitysTotalForRelatedPartiesMember" xlink:type="locator"/>
    <label id="id_14240147_3419733_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_14240147_3419733_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:label="ifrs-full_EntitysTotalForSegmentConsolidationItemsMember" xlink:type="locator"/>
    <label id="id_14240147_3419952_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_14240147_3419952_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EntitysTotalForSubsidiariesMember" xlink:label="ifrs-full_EntitysTotalForSubsidiariesMember" xlink:type="locator"/>
    <label id="id_14240147_3419734_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_14240147_3419734_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:type="locator"/>
    <label id="id_14240147_3419954_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_14240147_3419954_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Equity" xlink:label="ifrs-full_Equity" xlink:type="locator"/>
    <label id="id_14240147_3419957_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_14240147_3419957_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_14240147_3419957_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_14240147_3419957_2_1" xlink:label="ifrs-full_Equity_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total equity</label>
    <label id="id_14240147_3419957_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>
    <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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAbstract" xlink:label="ifrs-full_EquityAbstract" xlink:type="locator"/>
    <label id="id_14240147_3419541_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_14240147_3419541_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilities" xlink:label="ifrs-full_EquityAndLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3419542_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_14240147_3419542_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 LIABILITIES AND EQUITY</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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAndLiabilitiesAbstract" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3419958_1_1" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Equity and liabilities [abstract]</label>
    <label id="id_14240147_3419958_2_1" xlink:label="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">LIABILITIES AND EQUITY</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_EquityAndLiabilitiesAbstract" xlink:to="ifrs-full_EquityAndLiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_EquityAttributableToEquityShareHolders" xlink:label="fmx_EquityAttributableToEquityShareHolders" xlink:type="locator"/>
    <label id="id_14240147_3459055_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_14240147_3459055_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_14240147_3459055_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParent" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_14240147_3419543_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_14240147_3419543_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_14240147_3419543_6_1" xlink:label="ifrs-full_EquityAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total controlling interest</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:label="ifrs-full_EquityAttributableToOwnersOfParentMember" xlink:type="locator"/>
    <label id="id_14240147_3419544_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_14240147_3419544_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-20181231.xsd#fmx_EquityInstruments" xlink:label="fmx_EquityInstruments" xlink:type="locator"/>
    <label id="id_14240147_3434225_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_14240147_3434225_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_14240147_3434225_2_1" xlink:label="fmx_EquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityInterestsOfAcquirer" xlink:label="ifrs-full_EquityInterestsOfAcquirer" xlink:type="locator"/>
    <label id="id_14240147_3419300_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_14240147_3419300_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_14240147_3419300_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityInvestmentsMember" xlink:label="ifrs-full_EquityInvestmentsMember" xlink:type="locator"/>
    <label id="id_14240147_3419301_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_14240147_3419301_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_EquityMember" xlink:label="ifrs-full_EquityMember" xlink:type="locator"/>
    <label id="id_14240147_3419740_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_14240147_3419740_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-20181231.xsd#fmx_EstimatedFairValueOfBorrowingsAtInception" xlink:label="fmx_EstimatedFairValueOfBorrowingsAtInception" xlink:type="locator"/>
    <label id="id_14240147_3450850_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_14240147_3450850_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_14240147_3450850_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_EUR" xlink:label="currency_EUR" xlink:type="locator"/>
    <label id="id_14240147_3419751_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_14240147_3419751_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-20181231.xsd#fmx_EuroMember" xlink:label="fmx_EuroMember" xlink:type="locator"/>
    <label id="id_14240147_3477201_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_14240147_3477201_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_14240147_3477201_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/srt/2018/elts/srt-2018-01-31.xsd#srt_EuropeMember" xlink:label="srt_EuropeMember" xlink:type="locator"/>
    <label id="id_14240147_3419554_1_1" xlink:label="srt_EuropeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Europe [Member]</label>
    <label id="id_14240147_3419554_2_1" xlink:label="srt_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="srt_EuropeMember" xlink:to="srt_EuropeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_EuroZoneMember" xlink:label="fmx_EuroZoneMember" xlink:type="locator"/>
    <label id="id_14240147_3484509_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_14240147_3484509_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_14240147_3484509_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-20181231.xsd#fmx_EventsAfterReportingPeriodMember" xlink:label="fmx_EventsAfterReportingPeriodMember" xlink:type="locator"/>
    <label id="id_14240147_3500108_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_14240147_3500108_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_14240147_3500108_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-20181231.xsd#fmx_ExchangeDifferencesOnTranslationOfForeignOperations" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperations" xlink:type="locator"/>
    <label id="id_14240147_3441508_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_14240147_3441508_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_14240147_3441508_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="fmx-20181231.xsd#fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember" xlink:type="locator"/>
    <label id="id_14240147_3556561_3_1" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations in OCI.</label>
    <label id="id_14240147_3556561_1_1" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations in OCI [member]</label>
    <label id="id_14240147_3556561_2_1" xlink:label="fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign operations in OCI [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember" xlink:to="fmx_ExchangeDifferencesOnTranslationOfForeignOperationsInOciMember_lbl" xlink:type="arc"/>
    <loc xlink:href="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_ExchangeDomain" xlink:label="dei_ExchangeDomain" xlink:type="locator"/>
    <label id="id_14240147_3419313_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_14240147_3419313_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-20181231.xsd#fmx_ExchangeRateEightMember" xlink:label="fmx_ExchangeRateEightMember" xlink:type="locator"/>
    <label id="id_14240147_3554514_3_1" xlink:label="fmx_ExchangeRateEightMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate eight.</label>
    <label id="id_14240147_3554514_1_1" xlink:label="fmx_ExchangeRateEightMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate eight [member]</label>
    <label id="id_14240147_3554514_2_1" xlink:label="fmx_ExchangeRateEightMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Exchange rate eight [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateEightMember" xlink:to="fmx_ExchangeRateEightMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateFiveMember" xlink:label="fmx_ExchangeRateFiveMember" xlink:type="locator"/>
    <label id="id_14240147_3541740_3_1" xlink:label="fmx_ExchangeRateFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate five.</label>
    <label id="id_14240147_3541740_1_1" xlink:label="fmx_ExchangeRateFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate five [member]</label>
    <label id="id_14240147_3541740_2_1" xlink:label="fmx_ExchangeRateFiveMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">BRL/USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateFiveMember" xlink:to="fmx_ExchangeRateFiveMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateFourMember" xlink:label="fmx_ExchangeRateFourMember" xlink:type="locator"/>
    <label id="id_14240147_3541739_3_1" xlink:label="fmx_ExchangeRateFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate four.</label>
    <label id="id_14240147_3541739_1_1" xlink:label="fmx_ExchangeRateFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate four [member]</label>
    <label id="id_14240147_3541739_2_1" xlink:label="fmx_ExchangeRateFourMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MXN/USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateFourMember" xlink:to="fmx_ExchangeRateFourMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateOneMember" xlink:label="fmx_ExchangeRateOneMember" xlink:type="locator"/>
    <label id="id_14240147_3499010_3_1" xlink:label="fmx_ExchangeRateOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate one.</label>
    <label id="id_14240147_3499010_1_1" xlink:label="fmx_ExchangeRateOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate One [member]</label>
    <label id="id_14240147_3499010_2_1" xlink:label="fmx_ExchangeRateOneMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MXN/EUR [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateOneMember" xlink:to="fmx_ExchangeRateOneMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateSevenMember" xlink:label="fmx_ExchangeRateSevenMember" xlink:type="locator"/>
    <label id="id_14240147_3541904_3_1" xlink:label="fmx_ExchangeRateSevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate seven [member]</label>
    <label id="id_14240147_3541904_1_1" xlink:label="fmx_ExchangeRateSevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate seven [member]</label>
    <label id="id_14240147_3541904_2_1" xlink:label="fmx_ExchangeRateSevenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MXN/EUR [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateSevenMember" xlink:to="fmx_ExchangeRateSevenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateSixMember" xlink:label="fmx_ExchangeRateSixMember" xlink:type="locator"/>
    <label id="id_14240147_3541900_3_1" xlink:label="fmx_ExchangeRateSixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate six [member]</label>
    <label id="id_14240147_3541900_1_1" xlink:label="fmx_ExchangeRateSixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate six [member]</label>
    <label id="id_14240147_3541900_2_1" xlink:label="fmx_ExchangeRateSixMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">ARS/USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateSixMember" xlink:to="fmx_ExchangeRateSixMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateThreeMember" xlink:label="fmx_ExchangeRateThreeMember" xlink:type="locator"/>
    <label id="id_14240147_3541738_3_1" xlink:label="fmx_ExchangeRateThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate three.</label>
    <label id="id_14240147_3541738_1_1" xlink:label="fmx_ExchangeRateThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate Three [member]</label>
    <label id="id_14240147_3541738_2_1" xlink:label="fmx_ExchangeRateThreeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MXN/USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateThreeMember" xlink:to="fmx_ExchangeRateThreeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExchangeRateTwoMember" xlink:label="fmx_ExchangeRateTwoMember" xlink:type="locator"/>
    <label id="id_14240147_3499012_3_1" xlink:label="fmx_ExchangeRateTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Exchange rate two.</label>
    <label id="id_14240147_3499012_1_1" xlink:label="fmx_ExchangeRateTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Exchange rate Two [member]</label>
    <label id="id_14240147_3499012_2_1" xlink:label="fmx_ExchangeRateTwoMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">CLP/USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ExchangeRateTwoMember" xlink:to="fmx_ExchangeRateTwoMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExpectedAnnualLongtermInflationPercentage" xlink:label="fmx_ExpectedAnnualLongtermInflationPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524398_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_14240147_3524398_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_14240147_3524398_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpectedCreditLossRate" xlink:label="ifrs-full_ExpectedCreditLossRate" xlink:type="locator"/>
    <label id="id_14240147_3419560_1_1" xlink:label="ifrs-full_ExpectedCreditLossRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Expected credit loss rate</label>
    <label id="id_14240147_3419560_2_1" xlink:label="ifrs-full_ExpectedCreditLossRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Expected credit loss percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ExpectedCreditLossRate" xlink:to="ifrs-full_ExpectedCreditLossRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ExpectedVolumeGrowthRatesPercentage" xlink:label="fmx_ExpectedVolumeGrowthRatesPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524399_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_14240147_3524399_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_14240147_3524399_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:label="ifrs-full_ExpenseRecognisedDuringPeriodForBadAndDoubtfulDebtsForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3419326_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_14240147_3419326_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-20181231.xsd#fmx_ExpensesFromRelatedPartyAbstract" xlink:label="fmx_ExpensesFromRelatedPartyAbstract" xlink:type="locator"/>
    <label id="id_14240147_3428830_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_14240147_3428830_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_14240147_3428830_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions" xlink:label="ifrs-full_ExplanationOfNatureAndAmountOfSignificantTransactions" xlink:type="locator"/>
    <label id="id_14240147_3419354_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_14240147_3419354_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory" xlink:label="ifrs-full_ExplanationOfRiskManagementStrategyRelatedToHedgeAccountingExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3420008_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_14240147_3420008_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction" xlink:label="ifrs-full_ExplanationOfTermsAndConditionsOfOutstandingBalancesForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3419802_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_14240147_3419802_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-20181231.xsd#fmx_FairValueAdjustmentsAxis" xlink:label="fmx_FairValueAdjustmentsAxis" xlink:type="locator"/>
    <label id="id_14240147_3475618_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_14240147_3475618_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_14240147_3475618_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-20181231.xsd#fmx_FairValueAdjustmentsDomain" xlink:label="fmx_FairValueAdjustmentsDomain" xlink:type="locator"/>
    <label id="id_14240147_3501192_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_14240147_3501192_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_14240147_3501192_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-20181231.xsd#fmx_FairValueMeasurementStrikePricePerShare" xlink:label="fmx_FairValueMeasurementStrikePricePerShare" xlink:type="locator"/>
    <label id="id_14240147_3522482_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_14240147_3522482_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_14240147_3522482_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-20181231.xsd#fmx_FairValueOfInvestmentInJointVentures" xlink:label="fmx_FairValueOfInvestmentInJointVentures" xlink:type="locator"/>
    <label id="id_14240147_3454422_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_14240147_3454422_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_14240147_3454422_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:label="ifrs-full_FairValueOfInvestmentsInAssociatesWherePriceQuotationsPublished" xlink:type="locator"/>
    <label id="id_14240147_3420031_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_14240147_3420031_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-20181231.xsd#fmx_FarmaciasAcunaMember" xlink:label="fmx_FarmaciasAcunaMember" xlink:type="locator"/>
    <label id="id_14240147_3500438_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_14240147_3500438_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_14240147_3500438_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-20181231.xsd#fmx_FarmaciasYzaMember" xlink:label="fmx_FarmaciasYzaMember" xlink:type="locator"/>
    <label id="id_14240147_3500277_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_14240147_3500277_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_14240147_3500277_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-20181231.xsd#fmx_FederalGovernmentInstrumentsMember" xlink:label="fmx_FederalGovernmentInstrumentsMember" xlink:type="locator"/>
    <label id="id_14240147_3503014_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_14240147_3503014_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_14240147_3503014_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-20181231.xsd#fmx_FederalTaxesMember" xlink:label="fmx_FederalTaxesMember" xlink:type="locator"/>
    <label id="id_14240147_3502617_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_14240147_3502617_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_14240147_3502617_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-20181231.xsd#fmx_FEMSAComercioHealthDivisionMember" xlink:label="fmx_FEMSAComercioHealthDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3513594_3_1" xlink:label="fmx_FEMSAComercioHealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA Comercio health division.</label>
    <label id="id_14240147_3513594_1_1" xlink:label="fmx_FEMSAComercioHealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Health Division [member]</label>
    <label id="id_14240147_3513594_2_1" xlink:label="fmx_FEMSAComercioHealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Health Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAComercioHealthDivisionMember" xlink:to="fmx_FEMSAComercioHealthDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_FEMSAComercioMember" xlink:label="fmx_FEMSAComercioMember" xlink:type="locator"/>
    <label id="id_14240147_3489716_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_14240147_3489716_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_14240147_3489716_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-20181231.xsd#fmx_FemsaComercioProximityDivisionMember" xlink:label="fmx_FemsaComercioProximityDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3541742_3_1" xlink:label="fmx_FemsaComercioProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Proximity Division [member]</label>
    <label id="id_14240147_3541742_1_1" xlink:label="fmx_FemsaComercioProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Proximity Division [member]</label>
    <label id="id_14240147_3541742_2_1" xlink:label="fmx_FemsaComercioProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio Proximity Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FemsaComercioProximityDivisionMember" xlink:to="fmx_FemsaComercioProximityDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_FEMSAFuelRetailDivisionMember" xlink:label="fmx_FEMSAFuelRetailDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3531013_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_14240147_3531013_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_14240147_3531013_2_1" xlink:label="fmx_FEMSAFuelRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio 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-20181231.xsd#fmx_FEMSAHealthRetailDivisionMember" xlink:label="fmx_FEMSAHealthRetailDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3498127_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_14240147_3498127_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_14240147_3498127_2_1" xlink:label="fmx_FEMSAHealthRetailDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio 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-20181231.xsd#fmx_FEMSAMember" xlink:label="fmx_FEMSAMember" xlink:type="locator"/>
    <label id="id_14240147_3501672_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_14240147_3501672_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_14240147_3501672_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-20181231.xsd#fmx_FEMSAProximityDivisionMember" xlink:label="fmx_FEMSAProximityDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3541741_3_1" xlink:label="fmx_FEMSAProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">FEMSA Proximity Division.</label>
    <label id="id_14240147_3541741_1_1" xlink:label="fmx_FEMSAProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">FEMSA proximity division [member]</label>
    <label id="id_14240147_3541741_2_1" xlink:label="fmx_FEMSAProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA comercio proximity division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FEMSAProximityDivisionMember" xlink:to="fmx_FEMSAProximityDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_FinanceChargesForEmployeeBenefits" xlink:label="fmx_FinanceChargesForEmployeeBenefits" xlink:type="locator"/>
    <label id="id_14240147_3441742_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_14240147_3441742_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_14240147_3441742_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-20181231.xsd#fmx_FinanceOperatingCharges" xlink:label="fmx_FinanceOperatingCharges" xlink:type="locator"/>
    <label id="id_14240147_3451119_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_14240147_3451119_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_14240147_3451119_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssets" xlink:label="ifrs-full_FinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3419397_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_14240147_3419397_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 , days current or outstanding</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAtFairValue" xlink:label="ifrs-full_FinancialAssetsAtFairValue" xlink:type="locator"/>
    <label id="id_14240147_3420049_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_14240147_3420049_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsAtFairValueMember" xlink:label="ifrs-full_FinancialAssetsAtFairValueMember" xlink:type="locator"/>
    <label id="id_14240147_3420291_1_1" xlink:label="ifrs-full_FinancialAssetsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial assets at fair value, class [member]</label>
    <label id="id_14240147_3420291_2_1" xlink:label="ifrs-full_FinancialAssetsAtFairValueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value in equity financial instrument [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialAssetsAtFairValueMember" xlink:to="ifrs-full_FinancialAssetsAtFairValueMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsMember" xlink:label="ifrs-full_FinancialAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3420713_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_14240147_3420713_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:label="ifrs-full_FinancialAssetsPastDueButNotImpairedMember" xlink:type="locator"/>
    <label id="id_14240147_3420080_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_14240147_3420080_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:label="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:type="locator"/>
    <label id="id_14240147_3420718_1_1" xlink:label="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) due to changes in accounting policy [member]</label>
    <label id="id_14240147_3420718_2_1" xlink:label="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting standard adoption effects [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember" xlink:to="ifrs-full_FinancialEffectOfChangesInAccountingPolicyMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_FinancialExpensesIncomeNet" xlink:label="fmx_FinancialExpensesIncomeNet" xlink:type="locator"/>
    <label id="id_14240147_3541716_3_1" xlink:label="fmx_FinancialExpensesIncomeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Financial expenses (income) net.</label>
    <label id="id_14240147_3541716_1_1" xlink:label="fmx_FinancialExpensesIncomeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Financial expenses income net</label>
    <label id="id_14240147_3541716_2_1" xlink:label="fmx_FinancialExpensesIncomeNet_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Financial income, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_FinancialExpensesIncomeNet" xlink:to="fmx_FinancialExpensesIncomeNet_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestPayableRate" xlink:type="locator"/>
    <label id="id_14240147_3524657_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_14240147_3524657_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_14240147_3524657_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-20181231.xsd#fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate" xlink:label="fmx_FinancialInstrumentsDesignatedAsHedgingDerivativeInterestReceivableRate" xlink:type="locator"/>
    <label id="id_14240147_3524658_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_14240147_3524658_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_14240147_3524658_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-20181231.xsd#fmx_FinancialInstrumentsOutOfMoneyStrikePrice" xlink:label="fmx_FinancialInstrumentsOutOfMoneyStrikePrice" xlink:type="locator"/>
    <label id="id_14240147_3450859_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_14240147_3450859_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_14240147_3450859_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilities" xlink:label="ifrs-full_FinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3420727_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_14240147_3420727_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_14240147_3420727_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_14240147_3420727_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesAtFairValue" xlink:label="ifrs-full_FinancialLiabilitiesAtFairValue" xlink:type="locator"/>
    <label id="id_14240147_3420314_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_14240147_3420314_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_14240147_3420314_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_14240147_3420314_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesMember" xlink:label="ifrs-full_FinancialLiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3420503_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_14240147_3420503_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinancialLiabilitiesTypeMember" xlink:label="ifrs-full_FinancialLiabilitiesTypeMember" xlink:type="locator"/>
    <label id="id_14240147_3420733_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_14240147_3420733_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-20181231.xsd#fmx_FinancingFromAcquisition" xlink:label="fmx_FinancingFromAcquisition" xlink:type="locator"/>
    <label id="id_14240147_3463956_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_14240147_3463956_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_14240147_3463956_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FinishedGoods" xlink:label="ifrs-full_FinishedGoods" xlink:type="locator"/>
    <label id="id_14240147_3420320_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_14240147_3420320_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-20181231.xsd#fmx_FiniteUsefulLivedIntangibleAssetsMember" xlink:label="fmx_FiniteUsefulLivedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3480533_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_14240147_3480533_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_14240147_3480533_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-20181231.xsd#fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember" xlink:label="fmx_FivePointFourSixPercentageDebtBondsMaturingOnTwoThousandTwentyThreeMember" xlink:type="locator"/>
    <label id="id_14240147_3503081_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_14240147_3503081_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_14240147_3503081_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-20181231.xsd#fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember" xlink:label="fmx_FivePointTwoFivePercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandFortyThreeMember" xlink:type="locator"/>
    <label id="id_14240147_3503037_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_14240147_3503037_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_14240147_3503037_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-20181231.xsd#fmx_FixedCapitalStockAmounts" xlink:label="fmx_FixedCapitalStockAmounts" xlink:type="locator"/>
    <label id="id_14240147_3434210_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_14240147_3434210_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_14240147_3434210_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FixedInterestRateMember" xlink:label="ifrs-full_FixedInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3420104_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_14240147_3420104_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-20181231.xsd#fmx_FixedReturnAbstract" xlink:label="fmx_FixedReturnAbstract" xlink:type="locator"/>
    <label id="id_14240147_3428841_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_14240147_3428841_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_14240147_3428841_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-20181231.xsd#fmx_FixedToFixedInterestRateMember" xlink:label="fmx_FixedToFixedInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3487120_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_14240147_3487120_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_14240147_3487120_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-20181231.xsd#fmx_FixedToVariableInterestRateMember" xlink:label="fmx_FixedToVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3487116_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_14240147_3487116_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_14240147_3487116_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FloatingInterestRateMember" xlink:label="ifrs-full_FloatingInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3420520_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_14240147_3420520_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-20181231.xsd#fmx_ForeignExchange4Member" xlink:label="fmx_ForeignExchange4Member" xlink:type="locator"/>
    <label id="id_14240147_3479752_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_14240147_3479752_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_14240147_3479752_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-20181231.xsd#fmx_ForeignExchangeCurrencyRiskMember" xlink:label="fmx_ForeignExchangeCurrencyRiskMember" xlink:type="locator"/>
    <label id="id_14240147_3541733_3_1" xlink:label="fmx_ForeignExchangeCurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange currency risk.</label>
    <label id="id_14240147_3541733_1_1" xlink:label="fmx_ForeignExchangeCurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Currency Risk [member]</label>
    <label id="id_14240147_3541733_2_1" xlink:label="fmx_ForeignExchangeCurrencyRiskMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange currency risk [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForeignExchangeCurrencyRiskMember" xlink:to="fmx_ForeignExchangeCurrencyRiskMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ForeignExchangeCurrencySwapContractsMember" xlink:label="fmx_ForeignExchangeCurrencySwapContractsMember" xlink:type="locator"/>
    <label id="id_14240147_3554492_3_1" xlink:label="fmx_ForeignExchangeCurrencySwapContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange currency swap contracts.</label>
    <label id="id_14240147_3554492_1_1" xlink:label="fmx_ForeignExchangeCurrencySwapContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign exchange currency swap contracts [member]</label>
    <label id="id_14240147_3554492_2_1" xlink:label="fmx_ForeignExchangeCurrencySwapContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange currency swap contracts [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForeignExchangeCurrencySwapContractsMember" xlink:to="fmx_ForeignExchangeCurrencySwapContractsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ForeignExchangeForwardContractMember" xlink:label="fmx_ForeignExchangeForwardContractMember" xlink:type="locator"/>
    <label id="id_14240147_3530554_3_1" xlink:label="fmx_ForeignExchangeForwardContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Foreign exchange forward contract.</label>
    <label id="id_14240147_3530554_1_1" xlink:label="fmx_ForeignExchangeForwardContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Foreign Exchange Forward Contract [member]</label>
    <label id="id_14240147_3530554_2_1" xlink:label="fmx_ForeignExchangeForwardContractMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange currency foward contracts [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForeignExchangeForwardContractMember" xlink:to="fmx_ForeignExchangeForwardContractMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ForeignExchangeLiabilities" xlink:label="fmx_ForeignExchangeLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3441684_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_14240147_3441684_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_14240147_3441684_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-20181231.xsd#fmx_FormerShareholdersVonparMember" xlink:label="fmx_FormerShareholdersVonparMember" xlink:type="locator"/>
    <label id="id_14240147_3510793_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_14240147_3510793_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_14240147_3510793_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-20181231.xsd#fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseARSCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3496971_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_14240147_3496971_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_14240147_3496971_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-20181231.xsd#fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseBRLCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497246_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_14240147_3497246_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_14240147_3497246_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-20181231.xsd#fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseCLPCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497231_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_14240147_3497231_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_14240147_3497231_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-20181231.xsd#fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseCOPCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497247_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_14240147_3497247_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_14240147_3497247_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-20181231.xsd#fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstEURMember" xlink:type="locator"/>
    <label id="id_14240147_3497226_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_14240147_3497226_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_14240147_3497226_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-20181231.xsd#fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember" xlink:label="fmx_ForwardAgreementsToPurchaseMXNCurrencyAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497249_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_14240147_3497249_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_14240147_3497249_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="fmx-20181231.xsd#fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember" xlink:label="fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember" xlink:type="locator"/>
    <label id="id_14240147_3554031_3_1" xlink:label="fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase UYU currency against USD.</label>
    <label id="id_14240147_3554031_1_1" xlink:label="fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase UYU currency against USD [member]</label>
    <label id="id_14240147_3554031_2_1" xlink:label="fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Forward agreements to purchase UYU currency against USD [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember" xlink:to="fmx_ForwardAgreementsToPurchaseUyuCurrencyAgainstUsdMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ForwardContractMember" xlink:label="ifrs-full_ForwardContractMember" xlink:type="locator"/>
    <label id="id_14240147_3420330_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_14240147_3420330_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-20181231.xsd#fmx_FountainAguaMineralLTDAMember" xlink:label="fmx_FountainAguaMineralLTDAMember" xlink:type="locator"/>
    <label id="id_14240147_3501795_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_14240147_3501795_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_14240147_3501795_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-20181231.xsd#fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember" xlink:label="fmx_FourPointSixThreePercentageSeniorNotesMaturingOnFebruaryFifteenTwoThousandTwentyMember" xlink:type="locator"/>
    <label id="id_14240147_3503083_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_14240147_3503083_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_14240147_3503083_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-20181231.xsd#fmx_FuelDivisionMember" xlink:label="fmx_FuelDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3500273_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_14240147_3500273_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_14240147_3500273_2_1" xlink:label="fmx_FuelDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio - 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-20181231.xsd#fmx_FundacionFemsaAcMember" xlink:label="fmx_FundacionFemsaAcMember" xlink:type="locator"/>
    <label id="id_14240147_3503077_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_14240147_3503077_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_14240147_3503077_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_FutureFinanceChargeOnFinanceLease" xlink:label="ifrs-full_FutureFinanceChargeOnFinanceLease" xlink:type="locator"/>
    <label id="id_14240147_3420336_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_14240147_3420336_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnHedgeIneffectiveness" xlink:label="ifrs-full_GainLossOnHedgeIneffectiveness" xlink:type="locator"/>
    <label id="id_14240147_3420540_1_1" xlink:label="ifrs-full_GainLossOnHedgeIneffectiveness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) on hedge ineffectiveness</label>
    <label id="id_14240147_3420540_2_1" xlink:label="ifrs-full_GainLossOnHedgeIneffectiveness_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Profit and loss category in which is included the non- effective portion</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnHedgeIneffectiveness" xlink:to="ifrs-full_GainLossOnHedgeIneffectiveness_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInOtherComprehensiveIncome" xlink:label="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3420755_1_1" xlink:label="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) on hedge ineffectiveness recognised in other comprehensive income</label>
    <label id="id_14240147_3420755_2_1" xlink:label="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Changes in of the financial instrument recognized in OCI</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInOtherComprehensiveIncome" xlink:to="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInOtherComprehensiveIncome_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" xlink:label="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label id="id_14240147_3420756_1_1" xlink:label="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) on hedge ineffectiveness recognised in profit or loss</label>
    <label id="id_14240147_3420756_2_1" xlink:label="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non- effective portion recognized in profit and loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss" xlink:to="ifrs-full_GainLossOnHedgeIneffectivenessRecognisedInProfitOrLoss_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainLossOnRemeasurementOfNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3420125_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_14240147_3420125_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_14240147_3420125_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination" xlink:label="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination" xlink:type="locator"/>
    <label id="id_14240147_3420542_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_14240147_3420542_2_1" xlink:label="ifrs-full_GainLossRecognisedAsResultOfRemeasuringToFairValueEquityInterestInAcquireeHeldByAcquirerBeforeBusinessCombination_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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-20181231.xsd#fmx_GainLossRecognizedFromDiscontinuedOperations" xlink:label="fmx_GainLossRecognizedFromDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3546266_3_1" xlink:label="fmx_GainLossRecognizedFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gain (loss) recognized from discontinued operations.</label>
    <label id="id_14240147_3546266_1_1" xlink:label="fmx_GainLossRecognizedFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gain (loss) recognized from discontinued operations</label>
    <label id="id_14240147_3546266_2_1" xlink:label="fmx_GainLossRecognizedFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain from sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GainLossRecognizedFromDiscontinuedOperations" xlink:to="fmx_GainLossRecognizedFromDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_GainOnSaleOfShares" xlink:label="fmx_GainOnSaleOfShares" xlink:type="locator"/>
    <label id="id_14240147_3444620_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_14240147_3444620_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_14240147_3444620_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:label="ifrs-full_GainRecognisedInBargainPurchaseTransaction" xlink:type="locator"/>
    <label id="id_14240147_3420129_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_14240147_3420129_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-20181231.xsd#fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3463954_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_14240147_3463954_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_14240147_3463954_14_1" xlink:label="fmx_GainsLossesArisingFromAcquisitionsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">(Derecognition) 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-20181231.xsd#fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_GainsLossesArisingFromCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3446329_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_14240147_3446329_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_14240147_3446329_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3420759_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_14240147_3420759_14_1" xlink:label="ifrs-full_GainsLossesArisingFromSettlementsNetDefinedBenefitLiabilityAsset_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Curtailment / 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-20181231.xsd#fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:label="fmx_GainsLossesArisingFromSettlementsOrCurtailmentsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3441894_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_14240147_3441894_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_14240147_3441894_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3420343_1_1" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains (losses) on cash flow hedges, net of tax</label>
    <label id="id_14240147_3420343_2_1" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Fair value changes</label>
    <label id="id_14240147_3420343_12_1" xlink:label="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Hedging costs included in the OCI</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax" xlink:to="ifrs-full_GainsLossesOnCashFlowHedgesNetOfTax_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_GainsLossesOnChangeInFairValueOfDerivatives" xlink:type="locator"/>
    <label id="id_14240147_3420760_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_14240147_3420760_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3420355_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_14240147_3420355_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_14240147_3420355_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 equity accounted investees</label>
    <label id="id_14240147_3420355_12_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Exchange differences on translation of foreign subsidiaries and equity accounted investees in equity</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss" xlink:type="locator"/>
    <label id="id_14240147_3420553_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_14240147_3420553_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 (loss) gain, net</label>
    <label id="id_14240147_3420553_14_1" xlink:label="ifrs-full_GainsLossesOnExchangeDifferencesOnTranslationRecognisedInProfitOrLoss_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Foreign exchange gain, 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3420770_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_14240147_3420770_2_1" xlink:label="ifrs-full_GainsLossesOnHedgesOfNetInvestmentsInForeignOperationsNetOfTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income (loss) on hedge of a net investment in 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnHedgingInstrument" xlink:label="ifrs-full_GainsLossesOnHedgingInstrument" xlink:type="locator"/>
    <label id="id_14240147_3420362_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_14240147_3420362_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesOnNetMonetaryPosition" xlink:label="ifrs-full_GainsLossesOnNetMonetaryPosition" xlink:type="locator"/>
    <label id="id_14240147_3420363_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_14240147_3420363_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, net</label>
    <label id="id_14240147_3420363_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_14240147_3420363_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments" xlink:label="ifrs-full_GainsLossesRecognisedInOtherComprehensiveIncomeFairValueMeasurementEntitysOwnEquityInstruments" xlink:type="locator"/>
    <label id="id_14240147_3420366_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_14240147_3420366_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsOnChangeInFairValueOfDerivatives" xlink:label="ifrs-full_GainsOnChangeInFairValueOfDerivatives" xlink:type="locator"/>
    <label id="id_14240147_3420778_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_14240147_3420778_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsOnDisposalsOfInvestmentProperties" xlink:label="ifrs-full_GainsOnDisposalsOfInvestmentProperties" xlink:type="locator"/>
    <label id="id_14240147_3420779_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_14240147_3420779_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GainsOnDisposalsOfNoncurrentAssets" xlink:label="ifrs-full_GainsOnDisposalsOfNoncurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3420150_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_14240147_3420150_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-20181231.xsd#fmx_GainsOnDisposalsOfOtherAssets" xlink:label="fmx_GainsOnDisposalsOfOtherAssets" xlink:type="locator"/>
    <label id="id_14240147_3434086_3_1" xlink:label="fmx_GainsOnDisposalsOfOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Gains on disposals of other assets.</label>
    <label id="id_14240147_3434086_1_1" xlink:label="fmx_GainsOnDisposalsOfOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Gains On Disposals Of Other Assets</label>
    <label id="id_14240147_3434086_2_1" xlink:label="fmx_GainsOnDisposalsOfOtherAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Gain on sale of other assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GainsOnDisposalsOfOtherAssets" xlink:to="fmx_GainsOnDisposalsOfOtherAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_GenteraSABDeCVMember" xlink:label="fmx_GenteraSABDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3502579_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_14240147_3502579_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_14240147_3502579_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GeographicalAreasAxis" xlink:label="ifrs-full_GeographicalAreasAxis" xlink:type="locator"/>
    <label id="id_14240147_3420782_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_14240147_3420782_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GeographicalAreasMember" xlink:label="ifrs-full_GeographicalAreasMember" xlink:type="locator"/>
    <label id="id_14240147_3420376_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_14240147_3420376_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-20181231.xsd#fmx_GlassBottlesMember" xlink:label="fmx_GlassBottlesMember" xlink:type="locator"/>
    <label id="id_14240147_3502615_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_14240147_3502615_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_14240147_3502615_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember" xlink:label="ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember" xlink:type="locator"/>
    <label id="id_14240147_3420790_1_1" xlink:label="ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Goods or services transferred at point in time [member]</label>
    <label id="id_14240147_3420790_2_1" xlink:label="ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Goods or services transferred at point in time [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember" xlink:to="ifrs-full_GoodsOrServicesTransferredAtPointInTimeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Goodwill" xlink:label="ifrs-full_Goodwill" xlink:type="locator"/>
    <label id="id_14240147_3420792_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_14240147_3420792_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_14240147_3420792_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_14240147_3420792_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes" xlink:type="locator"/>
    <label id="id_14240147_3420165_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_14240147_3420165_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_14240147_3420165_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 deductible for income tax purposes</label>
    <label id="id_14240147_3420165_14_1" xlink:label="ifrs-full_GoodwillExpectedDeductibleForTaxPurposes_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GoodwillMember" xlink:label="ifrs-full_GoodwillMember" xlink:type="locator"/>
    <label id="id_14240147_3420793_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_14240147_3420793_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossCarryingAmountMember" xlink:label="ifrs-full_GrossCarryingAmountMember" xlink:type="locator"/>
    <label id="id_14240147_3420576_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_14240147_3420576_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossFinanceLeaseObligations" xlink:label="ifrs-full_GrossFinanceLeaseObligations" xlink:type="locator"/>
    <label id="id_14240147_3420577_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_14240147_3420577_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_GrossProfit" xlink:label="ifrs-full_GrossProfit" xlink:type="locator"/>
    <label id="id_14240147_3420389_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_14240147_3420389_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_14240147_3420389_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-20181231.xsd#fmx_GrupoAeroportuarioDelSueresteDeMember" xlink:label="fmx_GrupoAeroportuarioDelSueresteDeMember" xlink:type="locator"/>
    <label id="id_14240147_3553997_3_1" xlink:label="fmx_GrupoAeroportuarioDelSueresteDeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo Aeroportuario del Suereste, S.A.B. de C.V.</label>
    <label id="id_14240147_3553997_1_1" xlink:label="fmx_GrupoAeroportuarioDelSueresteDeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo Aeroportuario del Suereste, S.A.B. de C.V. [member]</label>
    <label id="id_14240147_3553997_2_1" xlink:label="fmx_GrupoAeroportuarioDelSueresteDeMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo Aeroportuario del Suereste, S.A.B. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoAeroportuarioDelSueresteDeMember" xlink:to="fmx_GrupoAeroportuarioDelSueresteDeMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_GrupoBbvaBancomerSaDeCvMember" xlink:label="fmx_GrupoBbvaBancomerSaDeCvMember" xlink:type="locator"/>
    <label id="id_14240147_3562144_3_1" xlink:label="fmx_GrupoBbvaBancomerSaDeCvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Grupo BBVA Bancomer, S.A. De C.V. [member]</label>
    <label id="id_14240147_3562144_1_1" xlink:label="fmx_GrupoBbvaBancomerSaDeCvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Grupo BBVA Bancomer SA De CV [member]</label>
    <label id="id_14240147_3562144_2_1" xlink:label="fmx_GrupoBbvaBancomerSaDeCvMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Grupo BBVA Bancomer, S.A. de C.V. [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_GrupoBbvaBancomerSaDeCvMember" xlink:to="fmx_GrupoBbvaBancomerSaDeCvMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_GrupoFinancieroBanorteSABDeCVMember" xlink:label="fmx_GrupoFinancieroBanorteSABDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3502577_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_14240147_3502577_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_14240147_3502577_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-20181231.xsd#fmx_GrupoIndustrialBimboSABDeCVMember" xlink:label="fmx_GrupoIndustrialBimboSABDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3502578_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_14240147_3502578_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_14240147_3502578_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-20181231.xsd#fmx_GrupoIndustrialSaltilloSABDeCVMember" xlink:label="fmx_GrupoIndustrialSaltilloSABDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3514329_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_14240147_3514329_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_14240147_3514329_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-20181231.xsd#fmx_GrupoIndustrialSaltilloSADeCVMember" xlink:label="fmx_GrupoIndustrialSaltilloSADeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3489715_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_14240147_3489715_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_14240147_3489715_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-20181231.xsd#fmx_GrupoNacionalProvincialSABMember" xlink:label="fmx_GrupoNacionalProvincialSABMember" xlink:type="locator"/>
    <label id="id_14240147_3502623_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_14240147_3502623_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_14240147_3502623_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-20181231.xsd#fmx_GrupoSocofarMember" xlink:label="fmx_GrupoSocofarMember" xlink:type="locator"/>
    <label id="id_14240147_3507623_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_14240147_3507623_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_14240147_3507623_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-20181231.xsd#fmx_GrupoTelevisaSABDeCVMember" xlink:label="fmx_GrupoTelevisaSABDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3502576_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_14240147_3502576_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_14240147_3502576_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-20181231.xsd#fmx_GrupoTorreyMember" xlink:label="fmx_GrupoTorreyMember" xlink:type="locator"/>
    <label id="id_14240147_3500435_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_14240147_3500435_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_14240147_3500435_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_14240147_3420583_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_14240147_3420583_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_GTQ" xlink:label="currency_GTQ" xlink:type="locator"/>
    <label id="id_14240147_3420585_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_14240147_3420585_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-20181231.xsd#fmx_GuaranteeDepositsOtherNoncurrentAssets" xlink:label="fmx_GuaranteeDepositsOtherNoncurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3441560_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_14240147_3441560_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_14240147_3441560_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-20181231.xsd#fmx_HealthDivisionMember" xlink:label="fmx_HealthDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3500274_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_14240147_3500274_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_14240147_3500274_2_1" xlink:label="fmx_HealthDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio - 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgedItemsAxis" xlink:label="ifrs-full_HedgedItemsAxis" xlink:type="locator"/>
    <label id="id_14240147_3420398_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_14240147_3420398_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgedItemsMember" xlink:label="ifrs-full_HedgedItemsMember" xlink:type="locator"/>
    <label id="id_14240147_3420181_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_14240147_3420181_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgingInstrumentAssets" xlink:label="ifrs-full_HedgingInstrumentAssets" xlink:type="locator"/>
    <label id="id_14240147_3420399_1_1" xlink:label="ifrs-full_HedgingInstrumentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging instrument, assets</label>
    <label id="id_14240147_3420399_2_1" xlink:label="ifrs-full_HedgingInstrumentAssets_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_HedgingInstrumentAssets" xlink:to="ifrs-full_HedgingInstrumentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_HedgingInstrumentLiabilities" xlink:label="ifrs-full_HedgingInstrumentLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3420400_1_1" xlink:label="ifrs-full_HedgingInstrumentLiabilities_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging instrument, liabilities</label>
    <label id="id_14240147_3420400_2_1" xlink:label="ifrs-full_HedgingInstrumentLiabilities_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_HedgingInstrumentLiabilities" xlink:to="ifrs-full_HedgingInstrumentLiabilities_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_HedgingReserveCostsTransferToCostOfInventory" xlink:label="fmx_HedgingReserveCostsTransferToCostOfInventory" xlink:type="locator"/>
    <label id="id_14240147_3541750_3_1" xlink:label="fmx_HedgingReserveCostsTransferToCostOfInventory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hedging reserve costs transfer to cost of inventory.</label>
    <label id="id_14240147_3541750_1_1" xlink:label="fmx_HedgingReserveCostsTransferToCostOfInventory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging reserve costs transfer to cost of inventory</label>
    <label id="id_14240147_3541750_2_1" xlink:label="fmx_HedgingReserveCostsTransferToCostOfInventory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of hedging reserve costs transfer to the cost of inventory</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HedgingReserveCostsTransferToCostOfInventory" xlink:to="fmx_HedgingReserveCostsTransferToCostOfInventory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_HedgingReserveTransferToCostOfInventory" xlink:label="fmx_HedgingReserveTransferToCostOfInventory" xlink:type="locator"/>
    <label id="id_14240147_3541749_3_1" xlink:label="fmx_HedgingReserveTransferToCostOfInventory_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Hedging reserve transfer to cost of inventory.</label>
    <label id="id_14240147_3541749_1_1" xlink:label="fmx_HedgingReserveTransferToCostOfInventory_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedging reserve transfer to cost of inventory</label>
    <label id="id_14240147_3541749_2_1" xlink:label="fmx_HedgingReserveTransferToCostOfInventory_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Amount of hedging reserve transfer to the cost of inventory</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_HedgingReserveTransferToCostOfInventory" xlink:to="fmx_HedgingReserveTransferToCostOfInventory_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_HeinekenGroupMember" xlink:label="fmx_HeinekenGroupMember" xlink:type="locator"/>
    <label id="id_14240147_3503119_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_14240147_3503119_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_14240147_3503119_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-20181231.xsd#fmx_HeinekenHoldingNVMember" xlink:label="fmx_HeinekenHoldingNVMember" xlink:type="locator"/>
    <label id="id_14240147_3485114_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_14240147_3485114_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_14240147_3485114_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-20181231.xsd#fmx_HeinekenInvestmentMember" xlink:label="fmx_HeinekenInvestmentMember" xlink:type="locator"/>
    <label id="id_14240147_3493858_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_14240147_3493858_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_14240147_3493858_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-20181231.xsd#fmx_HeinekenNVMember" xlink:label="fmx_HeinekenNVMember" xlink:type="locator"/>
    <label id="id_14240147_3485113_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_14240147_3485113_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_14240147_3485113_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-20181231.xsd#fmx_HeinekenSharesMember" xlink:label="fmx_HeinekenSharesMember" xlink:type="locator"/>
    <label id="id_14240147_3514519_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_14240147_3514519_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_14240147_3514519_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="fmx-20181231.xsd#fmx_IAS29Member" xlink:label="fmx_IAS29Member" xlink:type="locator"/>
    <label id="id_14240147_3553797_3_1" xlink:label="fmx_IAS29Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">IAS 29.</label>
    <label id="id_14240147_3553797_1_1" xlink:label="fmx_IAS29Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IAS 29 [member]</label>
    <label id="id_14240147_3553797_2_1" xlink:label="fmx_IAS29Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IAS 29 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IAS29Member" xlink:to="fmx_IAS29Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:label="ifrs-full_IdentifiableAssetsAcquiredLiabilitiesAssumed" xlink:type="locator"/>
    <label id="id_14240147_3420606_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_14240147_3420606_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_14240147_3420606_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_IdentifiableIntangibleAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3420413_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_14240147_3420413_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IdentityOfPriceIndex" xlink:label="ifrs-full_IdentityOfPriceIndex" xlink:type="locator"/>
    <label id="id_14240147_3420837_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_14240147_3420837_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_14240147_3420608_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_14240147_3420608_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="fmx-20181231.xsd#fmx_IFRS9Member" xlink:label="fmx_IFRS9Member" xlink:type="locator"/>
    <label id="id_14240147_3495166_3_1" xlink:label="fmx_IFRS9Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">IFRS9.</label>
    <label id="id_14240147_3495166_1_1" xlink:label="fmx_IFRS9Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">IFRS9 [member]</label>
    <label id="id_14240147_3495166_2_1" xlink:label="fmx_IFRS9Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">IFRS9 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IFRS9Member" xlink:to="fmx_IFRS9Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ImpactOfAdoptingIFRS9Member" xlink:label="fmx_ImpactOfAdoptingIFRS9Member" xlink:type="locator"/>
    <label id="id_14240147_3512343_3_1" xlink:label="fmx_ImpactOfAdoptingIFRS9Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impact of adopting IFRS 9.</label>
    <label id="id_14240147_3512343_1_1" xlink:label="fmx_ImpactOfAdoptingIFRS9Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impact of adopting IFRS 9 [member]</label>
    <label id="id_14240147_3512343_2_1" xlink:label="fmx_ImpactOfAdoptingIFRS9Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impact of adopting IFRS 9 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ImpactOfAdoptingIFRS9Member" xlink:to="fmx_ImpactOfAdoptingIFRS9Member_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLoss" xlink:label="ifrs-full_ImpairmentLoss" xlink:type="locator"/>
    <label id="id_14240147_3420613_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_14240147_3420613_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_14240147_3420613_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="fmx-20181231.xsd#fmx_ImpairmentLossOnInvestments" xlink:label="fmx_ImpairmentLossOnInvestments" xlink:type="locator"/>
    <label id="id_14240147_3455630_3_1" xlink:label="fmx_ImpairmentLossOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Impairment Loss On Investments</label>
    <label id="id_14240147_3455630_1_1" xlink:label="fmx_ImpairmentLossOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Impairment Loss On Investments</label>
    <label id="id_14240147_3455630_2_1" xlink:label="fmx_ImpairmentLossOnInvestments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Impairment loss on investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ImpairmentLossOnInvestments" xlink:to="fmx_ImpairmentLossOnInvestments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInOtherComprehensiveIncomeIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420205_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_14240147_3420205_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420207_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_14240147_3420207_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420430_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_14240147_3420430_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420616_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_14240147_3420616_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossIntangibleAssetsOtherThanGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:label="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3420432_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_14240147_3420432_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment" xlink:to="ifrs-full_ImpairmentLossRecognisedInProfitOrLossPropertyPlantAndEquipment_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:label="ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:type="locator"/>
    <label id="id_14240147_3420436_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_14240147_3420436_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ImpairmentOfFinancialAssetsAxis" xlink:to="ifrs-full_ImpairmentOfFinancialAssetsAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_14240147_3420443_1_1" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income from continuing operations attributable to owners of parent</label>
    <label id="id_14240147_3420443_2_1" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Controlling interest from continuing operations</label>
    <label id="id_14240147_3420443_12_1" xlink:label="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net controlling interest income allocated from continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromContinuingOperationsAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_14240147_3420854_1_1" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income from discontinued operations attributable to owners of parent</label>
    <label id="id_14240147_3420854_2_1" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Controlling interest from discontinued operations</label>
    <label id="id_14240147_3420854_12_1" xlink:label="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net controlling interest income allocated from discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent" xlink:to="ifrs-full_IncomeFromDiscontinuedOperationsAttributableToOwnersOfParent_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncomeFromRelatedPartyAbstract" xlink:label="fmx_IncomeFromRelatedPartyAbstract" xlink:type="locator"/>
    <label id="id_14240147_3428829_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_14240147_3428829_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_14240147_3428829_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-20181231.xsd#fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfAssociatesAndJointVenturesAccountedForUsingTheEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3454473_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_14240147_3454473_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_14240147_3454473_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 from continuing operations and share of profit in equity accounted investees</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="fmx-20181231.xsd#fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees" xlink:type="locator"/>
    <label id="id_14240147_3541737_3_1" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_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 equity accounted investees.</label>
    <label id="id_14240147_3541737_1_1" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_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 equity accounted investees</label>
    <label id="id_14240147_3541737_2_1" xlink:label="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_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 equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees" xlink:to="fmx_IncomeLossBeforeIncomeTaxesAndShareOfTheProfitOfEquityAccountedInvestees_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeStatementAbstract" xlink:label="ifrs-full_IncomeStatementAbstract" xlink:type="locator"/>
    <label id="id_14240147_3420627_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_14240147_3420627_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="fmx-20181231.xsd#fmx_IncomeStatementLocation1Axis" xlink:label="fmx_IncomeStatementLocation1Axis" xlink:type="locator"/>
    <label id="id_14240147_3532004_3_1" xlink:label="fmx_IncomeStatementLocation1Axis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Statement Location 1.</label>
    <label id="id_14240147_3532004_1_1" xlink:label="fmx_IncomeStatementLocation1Axis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location 1 [axis]</label>
    <label id="id_14240147_3532004_2_1" xlink:label="fmx_IncomeStatementLocation1Axis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location 1 [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeStatementLocation1Axis" xlink:to="fmx_IncomeStatementLocation1Axis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncomeStatementLocation1Member" xlink:label="fmx_IncomeStatementLocation1Member" xlink:type="locator"/>
    <label id="id_14240147_3494865_3_1" xlink:label="fmx_IncomeStatementLocation1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Statement Location1 [member]</label>
    <label id="id_14240147_3494865_1_1" xlink:label="fmx_IncomeStatementLocation1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location1 [member]</label>
    <label id="id_14240147_3494865_2_1" xlink:label="fmx_IncomeStatementLocation1Member_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location1 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeStatementLocation1Member" xlink:to="fmx_IncomeStatementLocation1Member_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncomeStatementLocationAxis" xlink:label="fmx_IncomeStatementLocationAxis" xlink:type="locator"/>
    <label id="id_14240147_3475558_3_1" xlink:label="fmx_IncomeStatementLocationAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income statement location.</label>
    <label id="id_14240147_3475558_1_1" xlink:label="fmx_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_14240147_3475558_2_1" xlink:label="fmx_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="fmx_IncomeStatementLocationAxis" xlink:to="fmx_IncomeStatementLocationAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncomeStatementLocationMember" xlink:label="fmx_IncomeStatementLocationMember" xlink:type="locator"/>
    <label id="id_14240147_3532005_3_1" xlink:label="fmx_IncomeStatementLocationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Income Statement Location 1 [member].</label>
    <label id="id_14240147_3532005_1_1" xlink:label="fmx_IncomeStatementLocationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Income Statement Location 1 [member]</label>
    <label id="id_14240147_3532005_2_1" xlink:label="fmx_IncomeStatementLocationMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income Statement Location 1 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeStatementLocationMember" xlink:to="fmx_IncomeStatementLocationMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncomeTaxesChangesInStatutoryRates" xlink:label="fmx_IncomeTaxesChangesInStatutoryRates" xlink:type="locator"/>
    <label id="id_14240147_3434347_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_14240147_3434347_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_14240147_3434347_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:label="ifrs-full_IncomeTaxesPaidRefundClassifiedAsOperatingActivities" xlink:type="locator"/>
    <label id="id_14240147_3420215_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_14240147_3420215_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:label="ifrs-full_IncomeTaxExpenseContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3420859_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)</label>
    <label id="id_14240147_3420859_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_14240147_3420859_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3420449_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 included in other comprehensive income</label>
    <label id="id_14240147_3420449_2_1" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Taxes due to changes in reserves during the period</label>
    <label id="id_14240147_3420449_12_1" xlink:label="ifrs-full_IncomeTaxRelatingToCashFlowHedgesOfOtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToComponentsOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3420862_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_14240147_3420862_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToExchangeDifferencesOnTranslationOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3420865_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 included in other comprehensive income</label>
    <label id="id_14240147_3420865_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:label="ifrs-full_IncomeTaxRelatingToRemeasurementsOfDefinedBenefitPlansOfOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3420456_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 included in other comprehensive income</label>
    <label id="id_14240147_3420456_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:label="ifrs-full_IncomeTaxRelatingToShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLoss" xlink:type="locator"/>
    <label id="id_14240147_3420869_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_14240147_3420869_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 equity accounted investees</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-20181231.xsd#fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments" xlink:label="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments" xlink:type="locator"/>
    <label id="id_14240147_3441794_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_14240147_3441794_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_14240147_3441794_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments" xlink:to="fmx_IncomeTaxRelatingUnrealizedGainLossOnDerivativeFinancialInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncreaseDecreaseDueToTheAdoptionOfIFRS9" xlink:label="fmx_IncreaseDecreaseDueToTheAdoptionOfIFRS9" xlink:type="locator"/>
    <label id="id_14240147_3448888_3_1" xlink:label="fmx_IncreaseDecreaseDueToTheAdoptionOfIFRS9_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) due to the adoption of IFRS 9.</label>
    <label id="id_14240147_3448888_1_1" xlink:label="fmx_IncreaseDecreaseDueToTheAdoptionOfIFRS9_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (Decrease) due to the Adoption of IFRS 9</label>
    <label id="id_14240147_3448888_2_1" xlink:label="fmx_IncreaseDecreaseDueToTheAdoptionOfIFRS9_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of adoption of IFRS 9</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInAccountingEstimate" xlink:label="ifrs-full_IncreaseDecreaseInAccountingEstimate" xlink:type="locator"/>
    <label id="id_14240147_3420458_1_1" xlink:label="ifrs-full_IncreaseDecreaseInAccountingEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in accounting estimate</label>
    <label id="id_14240147_3420458_2_1" xlink:label="ifrs-full_IncreaseDecreaseInAccountingEstimate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Accounting standard adoption effects</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInAccountingEstimate" xlink:to="ifrs-full_IncreaseDecreaseInAccountingEstimate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3420460_1_1" xlink:label="ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in allowance account for credit losses of financial assets</label>
    <label id="id_14240147_3420460_2_1" xlink:label="ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Adjusted balance at the beginning of the period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets" xlink:to="ifrs-full_IncreaseDecreaseInAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations" xlink:label="fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3466352_3_1" xlink:label="fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase decrease in cash and cash equivalents continued operations.</label>
    <label id="id_14240147_3466352_1_1" xlink:label="fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase Decrease In Cash And Cash Equivalents Continued Operations</label>
    <label id="id_14240147_3466352_2_1" xlink:label="fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">(Decrease) increase in cash and cash equivalents from continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations" xlink:to="fmx_IncreaseDecreaseInCashAndCashEquivalentsContinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3420638_1_1" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in cash and cash equivalents, discontinued operations</label>
    <label id="id_14240147_3420638_2_1" xlink:label="ifrs-full_IncreaseDecreaseInCashAndCashEquivalentsDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Increase in cash and cash equivalents from discontinued operations</label>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:label="ifrs-full_IncreaseDecreaseInExistingLiabilitiesContingentLiabilitiesRecognisedInBusinessCombination" xlink:type="locator"/>
    <label id="id_14240147_3420641_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_14240147_3420641_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-20181231.xsd#fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges" xlink:label="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges" xlink:type="locator"/>
    <label id="id_14240147_3445040_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_14240147_3445040_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_14240147_3445040_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>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges" xlink:to="fmx_IncreaseDecreaseInExistingProvisionsFromPenaltiesAndOtherCharges_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncreaseDecreaseInForeignCurrencyExchangeRate" xlink:label="fmx_IncreaseDecreaseInForeignCurrencyExchangeRate" xlink:type="locator"/>
    <label id="id_14240147_3524424_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_14240147_3524424_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_14240147_3524424_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-20181231.xsd#fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition" xlink:type="locator"/>
    <label id="id_14240147_3554063_3_1" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Increase (decrease) in provision from effects due to derecognition.</label>
    <label id="id_14240147_3554063_1_1" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) in provision from effects due to derecognition</label>
    <label id="id_14240147_3554063_2_1" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effects due to derecognition of Philippines</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition" xlink:to="fmx_IncreaseDecreaseInProvisionFromEffectsDueToDerecognition_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates" xlink:label="fmx_IncreaseDecreaseInProvisionFromEffectsOfChangesInForeignExchangeRates" xlink:type="locator"/>
    <label id="id_14240147_3445041_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_14240147_3445041_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_14240147_3445041_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-20181231.xsd#fmx_IncreaseDecreaseInProvisionsFromNewContingencies" xlink:label="fmx_IncreaseDecreaseInProvisionsFromNewContingencies" xlink:type="locator"/>
    <label id="id_14240147_3437366_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_14240147_3437366_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_14240147_3437366_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3420889_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_14240147_3420889_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughAdjustmentsArisingFromPassageOfTimeAllowanceAccountForCreditLossesOfFinancialAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Additions (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-20181231.xsd#fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates" xlink:label="fmx_IncreaseDecreaseThroughChangeInEquityMethodOfAssociates" xlink:type="locator"/>
    <label id="id_14240147_3437202_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_14240147_3437202_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_14240147_3437202_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 in equity accounted investees, net of tax</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:label="ifrs-full_IncreaseDecreaseThroughChangeInEquityOfSubsidiaries" xlink:type="locator"/>
    <label id="id_14240147_3420652_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_14240147_3420652_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_IncreaseDecreaseThroughChangesInForeignExchangeRatesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3420894_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_14240147_3420894_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_14240147_3420894_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseDecreaseThroughEffectOfChangesInForeignExchangeRatesLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3420899_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_14240147_3420899_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseDecreaseThroughFinancingCashFlowsLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3420261_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_14240147_3420261_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesAllowanceAccountForCreditLossesOfFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3420266_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_14240147_3420266_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420669_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_14240147_3420669_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughNetExchangeDifferencesPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3420496_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_14240147_3420496_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseDecreaseThroughObtainingOrLosingControlOfSubsidiariesOrOtherBusinessesLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3420268_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_14240147_3420268_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:label="ifrs-full_IncreaseDecreaseThroughSharebasedPaymentTransactions" xlink:type="locator"/>
    <label id="id_14240147_3420273_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_14240147_3420273_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 share-based compensation 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesEquity" xlink:type="locator"/>
    <label id="id_14240147_3420924_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_14240147_3420924_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_14240147_3420924_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420276_1_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Increase (decrease) through transfers and other changes, intangible assets and goodwill</label>
    <label id="id_14240147_3420276_2_1" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Internal development</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill" xlink:to="ifrs-full_IncreaseDecreaseThroughTransfersAndOtherChangesIntangibleAssetsAndGoodwill_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromConstructionInProgressPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3420688_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_14240147_3420688_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersFromToInvestmentPropertyPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3421805_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_14240147_3421805_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IncreaseDecreaseThroughTransfersIntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3420689_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_14240147_3420689_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-20181231.xsd#fmx_IncreaseInForeignCurrencyExchangeRatePercentage" xlink:label="fmx_IncreaseInForeignCurrencyExchangeRatePercentage" xlink:type="locator"/>
    <label id="id_14240147_3523872_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_14240147_3523872_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_14240147_3523872_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-20181231.xsd#fmx_IncreaseInForeignCurrencyRateEffectOnEquity" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnEquity" xlink:type="locator"/>
    <label id="id_14240147_3454419_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_14240147_3454419_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_14240147_3454419_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-20181231.xsd#fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:label="fmx_IncreaseInForeignCurrencyRateEffectOnProfitOrLoss" xlink:type="locator"/>
    <label id="id_14240147_3454417_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_14240147_3454417_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_14240147_3454417_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:label="ifrs-full_IncreaseThroughNewLeasesLiabilitiesArisingFromFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3420281_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_14240147_3420281_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-20181231.xsd#fmx_IndefiniteLivedIntangibleAssets1Member" xlink:label="fmx_IndefiniteLivedIntangibleAssets1Member" xlink:type="locator"/>
    <label id="id_14240147_3480534_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_14240147_3480534_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_14240147_3480534_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-20181231.xsd#fmx_IndemnifiableAssetsFromBusinessCombination" xlink:label="fmx_IndemnifiableAssetsFromBusinessCombination" xlink:type="locator"/>
    <label id="id_14240147_3452116_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_14240147_3452116_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_14240147_3452116_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_14240147_3452116_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-20181231.xsd#fmx_IndirectTaxContingenciesAmount" xlink:label="fmx_IndirectTaxContingenciesAmount" xlink:type="locator"/>
    <label id="id_14240147_3450900_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_14240147_3450900_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_14240147_3450900_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-20181231.xsd#fmx_IndirectTaxesMember" xlink:label="fmx_IndirectTaxesMember" xlink:type="locator"/>
    <label id="id_14240147_3498112_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_14240147_3498112_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_14240147_3498112_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsAxis" xlink:type="locator"/>
    <label id="id_14240147_3420929_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_14240147_3420929_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:label="ifrs-full_IndividualAssetsOrCashgeneratingUnitsWithSignificantAmountOfGoodwillOrIntangibleAssetsWithIndefiniteUsefulLivesAxis" xlink:type="locator"/>
    <label id="id_14240147_3421158_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_14240147_3421158_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-20181231.xsd#fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember" xlink:label="fmx_IndustriaEnvasadoraDeQueretaroSADeCVIEQSAMember" xlink:type="locator"/>
    <label id="id_14240147_3485109_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_14240147_3485109_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_14240147_3485109_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-20181231.xsd#fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember" xlink:label="fmx_IndustriaEnvasadoraDeQuertaroDeIeqsaMember" xlink:type="locator"/>
    <label id="id_14240147_3501789_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_14240147_3501789_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_14240147_3501789_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-20181231.xsd#fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember" xlink:label="fmx_IndustriaMexicanaDeReciclajeSADeCVIMERMember" xlink:type="locator"/>
    <label id="id_14240147_3501787_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_14240147_3501787_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_14240147_3501787_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-20181231.xsd#fmx_InformationTechnologyAndManagementSystemCostsMember" xlink:label="fmx_InformationTechnologyAndManagementSystemCostsMember" xlink:type="locator"/>
    <label id="id_14240147_3500488_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_14240147_3500488_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_14240147_3500488_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-20181231.xsd#fmx_InformationTechnologyEquipmentMember" xlink:label="fmx_InformationTechnologyEquipmentMember" xlink:type="locator"/>
    <label id="id_14240147_3497785_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_14240147_3497785_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_14240147_3497785_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-20181231.xsd#fmx_InstallmentOneMember" xlink:label="fmx_InstallmentOneMember" xlink:type="locator"/>
    <label id="id_14240147_3476922_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_14240147_3476922_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_14240147_3476922_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-20181231.xsd#fmx_InstallmentTwoMember" xlink:label="fmx_InstallmentTwoMember" xlink:type="locator"/>
    <label id="id_14240147_3476769_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_14240147_3476769_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_14240147_3476769_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-20181231.xsd#fmx_InsuranceRebates" xlink:label="fmx_InsuranceRebates" xlink:type="locator"/>
    <label id="id_14240147_3434090_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_14240147_3434090_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_14240147_3434090_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsAndGoodwill" xlink:label="ifrs-full_IntangibleAssetsAndGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3421839_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_14240147_3421839_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_14240147_3421839_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_14240147_3421839_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_14240147_3421839_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsAndGoodwillMember" xlink:type="locator"/>
    <label id="id_14240147_3420961_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_14240147_3420961_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:label="ifrs-full_IntangibleAssetsOtherThanGoodwillMember" xlink:type="locator"/>
    <label id="id_14240147_3421843_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_14240147_3421843_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-20181231.xsd#fmx_IntangibleAssetsRenewableTerm" xlink:label="fmx_IntangibleAssetsRenewableTerm" xlink:type="locator"/>
    <label id="id_14240147_3472799_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_14240147_3472799_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_14240147_3472799_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:label="ifrs-full_IntangibleAssetsUnderDevelopmentMember" xlink:type="locator"/>
    <label id="id_14240147_3421193_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_14240147_3421193_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestCostsCapitalised" xlink:label="ifrs-full_InterestCostsCapitalised" xlink:type="locator"/>
    <label id="id_14240147_3420967_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_14240147_3420967_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpense" xlink:label="ifrs-full_InterestExpense" xlink:type="locator"/>
    <label id="id_14240147_3421376_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_14240147_3421376_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_14240147_3421376_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-20181231.xsd#fmx_InterestExpenseAndFeePaidRelatedPartyTransactions" xlink:label="fmx_InterestExpenseAndFeePaidRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3441653_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_14240147_3441653_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_14240147_3441653_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_InterestExpenseIncomeNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3421196_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_14240147_3421196_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_14240147_3421196_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_14240147_3421196_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-20181231.xsd#fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred" xlink:label="fmx_InterestExpenseInterestIncomeAndNetForeignExchangeGainLossesIncurred" xlink:type="locator"/>
    <label id="id_14240147_3437022_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_14240147_3437022_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_14240147_3437022_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="fmx-20181231.xsd#fmx_InterestExpenseMember" xlink:label="fmx_InterestExpenseMember" xlink:type="locator"/>
    <label id="id_14240147_3536781_3_1" xlink:label="fmx_InterestExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest expense.</label>
    <label id="id_14240147_3536781_1_1" xlink:label="fmx_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_14240147_3536781_2_1" xlink:label="fmx_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="fmx_InterestExpenseMember" xlink:to="fmx_InterestExpenseMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestExpenseOnBorrowings" xlink:label="ifrs-full_InterestExpenseOnBorrowings" xlink:type="locator"/>
    <label id="id_14240147_3421197_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_14240147_3421197_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="fmx-20181231.xsd#fmx_InterestExpenseThroughForeignCurrency" xlink:label="fmx_InterestExpenseThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_14240147_3443015_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_14240147_3443015_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_14240147_3443015_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:label="ifrs-full_InterestIncomeOnLoansAndReceivables" xlink:type="locator"/>
    <label id="id_14240147_3421204_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_14240147_3421204_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:label="ifrs-full_InterestPaidClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3420978_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_14240147_3420978_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="fmx-20181231.xsd#fmx_InterestRateAverage" xlink:label="fmx_InterestRateAverage" xlink:type="locator"/>
    <label id="id_14240147_3541732_3_1" xlink:label="fmx_InterestRateAverage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest rate average.</label>
    <label id="id_14240147_3541732_1_1" xlink:label="fmx_InterestRateAverage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate average</label>
    <label id="id_14240147_3541732_2_1" xlink:label="fmx_InterestRateAverage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Average exchange rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InterestRateAverage" xlink:to="fmx_InterestRateAverage_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateRiskMember" xlink:label="ifrs-full_InterestRateRiskMember" xlink:type="locator"/>
    <label id="id_14240147_3421384_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_14240147_3421384_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateSwapContractMember" xlink:label="ifrs-full_InterestRateSwapContractMember" xlink:type="locator"/>
    <label id="id_14240147_3420980_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_14240147_3420980_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="fmx-20181231.xsd#fmx_InterestRateSwapsMember" xlink:label="fmx_InterestRateSwapsMember" xlink:type="locator"/>
    <label id="id_14240147_3509930_3_1" xlink:label="fmx_InterestRateSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Interest rate swaps [member]</label>
    <label id="id_14240147_3509930_1_1" xlink:label="fmx_InterestRateSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Interest rate swaps [member]</label>
    <label id="id_14240147_3509930_2_1" xlink:label="fmx_InterestRateSwapsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest rate swaps [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_InterestRateSwapsMember" xlink:to="fmx_InterestRateSwapsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestRateTypesMember" xlink:label="ifrs-full_InterestRateTypesMember" xlink:type="locator"/>
    <label id="id_14240147_3421207_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_14240147_3421207_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:label="ifrs-full_InterestReceivedClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3421388_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_14240147_3421388_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Inventories" xlink:label="ifrs-full_Inventories" xlink:type="locator"/>
    <label id="id_14240147_3421859_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_14240147_3421859_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_14240147_3421859_6_1" xlink:label="ifrs-full_Inventories_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Total 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-20181231.xsd#fmx_Inventories1Member" xlink:label="fmx_Inventories1Member" xlink:type="locator"/>
    <label id="id_14240147_3476187_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_14240147_3476187_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_14240147_3476187_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InventoriesTotal" xlink:label="ifrs-full_InventoriesTotal" xlink:type="locator"/>
    <label id="id_14240147_3421860_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_14240147_3421860_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-20181231.xsd#fmx_InventoryMember" xlink:label="fmx_InventoryMember" xlink:type="locator"/>
    <label id="id_14240147_3486604_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_14240147_3486604_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_14240147_3486604_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InventoryWritedown2011" xlink:label="ifrs-full_InventoryWritedown2011" xlink:type="locator"/>
    <label id="id_14240147_3421215_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_14240147_3421215_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3421394_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_14240147_3421394_32_1" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Investments in equity accounted investees</label>
    <label id="id_14240147_3421394_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 Value</label>
    <label id="id_14240147_3421394_12_1" xlink:label="ifrs-full_InvestmentAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investees</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentIncome" xlink:label="ifrs-full_InvestmentIncome" xlink:type="locator"/>
    <label id="id_14240147_3421225_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_14240147_3421225_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:label="ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:type="locator"/>
    <label id="id_14240147_3421415_1_1" xlink:label="ifrs-full_InvestmentsAccountedForUsingEquityMethodMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Investments accounted for using equity method [member]</label>
    <label id="id_14240147_3421415_2_1" xlink:label="ifrs-full_InvestmentsAccountedForUsingEquityMethodMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investments in equity accounted investees [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_InvestmentsAccountedForUsingEquityMethodMember" xlink:to="ifrs-full_InvestmentsAccountedForUsingEquityMethodMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsInAssociates" xlink:label="ifrs-full_InvestmentsInAssociates" xlink:type="locator"/>
    <label id="id_14240147_3421416_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_14240147_3421416_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_14240147_3421416_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-20181231.xsd#fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments" xlink:label="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments" xlink:type="locator"/>
    <label id="id_14240147_3437071_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_14240147_3437071_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_14240147_3437071_2_1" xlink:label="fmx_InvestmentsInAssociatesExcludingGoodwillAndOtherAdjustments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Investment in Heineken investment exclusive of goodwill and other 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-20181231.xsd#fmx_InvestmentsInFixedAssets" xlink:label="fmx_InvestmentsInFixedAssets" xlink:type="locator"/>
    <label id="id_14240147_3437335_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_14240147_3437335_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_14240147_3437335_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-20181231.xsd#fmx_InvestmentsInFixedAssetsInProgressMember" xlink:label="fmx_InvestmentsInFixedAssetsInProgressMember" xlink:type="locator"/>
    <label id="id_14240147_3485116_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_14240147_3485116_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_14240147_3485116_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-20181231.xsd#fmx_InvestmentsInSecurities" xlink:label="fmx_InvestmentsInSecurities" xlink:type="locator"/>
    <label id="id_14240147_3443934_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_14240147_3443934_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_14240147_3443934_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract" xlink:label="ifrs-full_InvestmentsInSubsidiariesJointVenturesAndAssociatesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3421006_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_14240147_3421006_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapital" xlink:label="ifrs-full_IssuedCapital" xlink:type="locator"/>
    <label id="id_14240147_3421012_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_14240147_3421012_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_14240147_3421012_12_1" xlink:label="ifrs-full_IssuedCapital_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_IssuedCapitalMember" xlink:label="ifrs-full_IssuedCapitalMember" xlink:type="locator"/>
    <label id="id_14240147_3421013_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_14240147_3421013_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ItemsOfContingentLiabilitiesAxis" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_14240147_3421261_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_14240147_3421261_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ItemsOfContingentLiabilitiesMember" xlink:label="ifrs-full_ItemsOfContingentLiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3421262_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_14240147_3421262_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_JointVenturesAxis" xlink:label="ifrs-full_JointVenturesAxis" xlink:type="locator"/>
    <label id="id_14240147_3421428_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_14240147_3421428_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-20181231.xsd#fmx_JPMorganChaseCoMember" xlink:label="fmx_JPMorganChaseCoMember" xlink:type="locator"/>
    <label id="id_14240147_3510810_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_14240147_3510810_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_14240147_3510810_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-20181231.xsd#fmx_JugosDelValleSAPIDeCVMember" xlink:label="fmx_JugosDelValleSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3501793_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_14240147_3501793_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_14240147_3501793_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-20181231.xsd#fmx_JuicesMember" xlink:label="fmx_JuicesMember" xlink:type="locator"/>
    <label id="id_14240147_3497154_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_14240147_3497154_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_14240147_3497154_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationPostemploymentBenefits" xlink:type="locator"/>
    <label id="id_14240147_3421272_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_14240147_3421272_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:label="ifrs-full_KeyManagementPersonnelCompensationSharebasedPayment" xlink:type="locator"/>
    <label id="id_14240147_3421908_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_14240147_3421908_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_14240147_3421908_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationShorttermEmployeeBenefits" xlink:type="locator"/>
    <label id="id_14240147_3421022_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_14240147_3421022_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:label="ifrs-full_KeyManagementPersonnelCompensationTerminationBenefits" xlink:type="locator"/>
    <label id="id_14240147_3421909_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_14240147_3421909_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-20181231.xsd#fmx_KOFLMember" xlink:label="fmx_KOFLMember" xlink:type="locator"/>
    <label id="id_14240147_3497174_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_14240147_3497174_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_14240147_3497174_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-20181231.xsd#fmx_KOFseriesLMember" xlink:label="fmx_KOFseriesLMember" xlink:type="locator"/>
    <label id="id_14240147_3514513_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_14240147_3514513_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_14240147_3514513_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-20181231.xsd#fmx_KSPParticipacoesLTDAMember" xlink:label="fmx_KSPParticipacoesLTDAMember" xlink:type="locator"/>
    <label id="id_14240147_3501785_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_14240147_3501785_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_14240147_3501785_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-20181231.xsd#fmx_LaborMember" xlink:label="fmx_LaborMember" xlink:type="locator"/>
    <label id="id_14240147_3491189_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_14240147_3491189_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_14240147_3491189_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LandMember" xlink:label="ifrs-full_LandMember" xlink:type="locator"/>
    <label id="id_14240147_3421914_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_14240147_3421914_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-20181231.xsd#fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember" xlink:label="fmx_LaterThanEightYearsAndNotLaterThanNineYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3510756_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_14240147_3510756_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_14240147_3510756_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-20181231.xsd#fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:label="fmx_LaterThanFiveYearsAndNotLaterThanSixYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3502495_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_14240147_3502495_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_14240147_3502495_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFiveYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3421915_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_14240147_3421915_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFourMonthsMember" xlink:label="ifrs-full_LaterThanFourMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3421916_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_14240147_3421916_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanFourYearsAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3421917_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_14240147_3421917_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-20181231.xsd#fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember" xlink:label="fmx_LaterThanNineYearsAndNotLaterThanTenYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3510757_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_14240147_3510757_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_14240147_3510757_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="fmx-20181231.xsd#fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember" xlink:label="fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3554177_3_1" xlink:label="fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Later than one month and not later than four months.</label>
    <label id="id_14240147_3554177_1_1" xlink:label="fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later Than One Month And Not Later Than Four Months [member]</label>
    <label id="id_14240147_3554177_2_1" xlink:label="fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1-4 months [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember" xlink:to="fmx_LaterThanOneMonthAndNotLaterThanFourMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneMonthAndNotLaterThanSixMonthsMember" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanSixMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3421031_1_1" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanSixMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one month and not later than six months [member]</label>
    <label id="id_14240147_3421031_2_1" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanSixMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">1-6 months [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanSixMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanSixMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3421918_1_1" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than one month and not later than two months [member]</label>
    <label id="id_14240147_3421918_2_1" xlink:label="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">31-60 days [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember" xlink:to="ifrs-full_LaterThanOneMonthAndNotLaterThanTwoMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanFiveYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3421286_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_14240147_3421286_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:label="ifrs-full_LaterThanOneYearAndNotLaterThanTwoYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3421288_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_14240147_3421288_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanOneYearMember" xlink:label="ifrs-full_LaterThanOneYearMember" xlink:type="locator"/>
    <label id="id_14240147_3421450_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_14240147_3421450_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-20181231.xsd#fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:label="fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3487166_3_1" xlink:label="fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">8-7 years [member]</label>
    <label id="id_14240147_3487166_1_1" xlink:label="fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than seven years and not later than eight years [member]</label>
    <label id="id_14240147_3487166_2_1" xlink:label="fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Later than seven years and not later than eight years [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember" xlink:to="fmx_LaterThanSevenYearsAndNotLaterThanEightYearsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember" xlink:label="fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3482788_3_1" xlink:label="fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Later than six month and not later than twelve months.</label>
    <label id="id_14240147_3482788_1_1" xlink:label="fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later than six month and not later than twelve months [member]</label>
    <label id="id_14240147_3482788_2_1" xlink:label="fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Maturity 6-12 months [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember" xlink:to="fmx_LaterThanSixMonthAndNotLaterThanTwelveMonthsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember" xlink:label="ifrs-full_LaterThanThreeMonthsAndNotLaterThanFourMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3421453_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_14240147_3421453_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:label="ifrs-full_LaterThanThreeYearsAndNotLaterThanFourYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3421292_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_14240147_3421292_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:label="ifrs-full_LaterThanTwoMonthsAndNotLaterThanThreeMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3421921_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_14240147_3421921_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="fmx-20181231.xsd#fmx_LaterThanTwoYearMember" xlink:label="fmx_LaterThanTwoYearMember" xlink:type="locator"/>
    <label id="id_14240147_3476631_3_1" xlink:label="fmx_LaterThanTwoYearMember_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 two year.</label>
    <label id="id_14240147_3476631_1_1" xlink:label="fmx_LaterThanTwoYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Later Than Two Year [member]</label>
    <label id="id_14240147_3476631_2_1" xlink:label="fmx_LaterThanTwoYearMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Later than two year [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LaterThanTwoYearMember" xlink:to="fmx_LaterThanTwoYearMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:label="ifrs-full_LaterThanTwoYearsAndNotLaterThanThreeYearsMember" xlink:type="locator"/>
    <label id="id_14240147_3421294_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_14240147_3421294_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-20181231.xsd#fmx_LeaoAlimentosEBebidasLTDAMember" xlink:label="fmx_LeaoAlimentosEBebidasLTDAMember" xlink:type="locator"/>
    <label id="id_14240147_3501791_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_14240147_3501791_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_14240147_3501791_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeaseholdImprovementsMember" xlink:label="ifrs-full_LeaseholdImprovementsMember" xlink:type="locator"/>
    <label id="id_14240147_3421037_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_14240147_3421037_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LeaseLiabilitiesMember" xlink:label="ifrs-full_LeaseLiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3421456_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_14240147_3421456_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_LegalEntityAxis" xlink:label="dei_LegalEntityAxis" xlink:type="locator"/>
    <label id="id_14240147_3421297_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_14240147_3421297_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-20181231.xsd#fmx_LegalFeesAndOtherExpensesFromPastAcquisitions" xlink:label="fmx_LegalFeesAndOtherExpensesFromPastAcquisitions" xlink:type="locator"/>
    <label id="id_14240147_3434112_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_14240147_3434112_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_14240147_3434112_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LegalProceedingsProvisionMember" xlink:label="ifrs-full_LegalProceedingsProvisionMember" xlink:type="locator"/>
    <label id="id_14240147_3421933_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_14240147_3421933_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level1OfFairValueHierarchyMember" xlink:label="ifrs-full_Level1OfFairValueHierarchyMember" xlink:type="locator"/>
    <label id="id_14240147_3421459_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_14240147_3421459_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Level2OfFairValueHierarchyMember" xlink:label="ifrs-full_Level2OfFairValueHierarchyMember" xlink:type="locator"/>
    <label id="id_14240147_3421934_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_14240147_3421934_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:label="ifrs-full_LevelsOfFairValueHierarchyAxis" xlink:type="locator"/>
    <label id="id_14240147_3421935_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_14240147_3421935_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Liabilities" xlink:label="ifrs-full_Liabilities" xlink:type="locator"/>
    <label id="id_14240147_3421936_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_14240147_3421936_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_14240147_3421936_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_14240147_3421936_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_14240147_3421936_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesAbstract" xlink:label="ifrs-full_LiabilitiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3421303_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_14240147_3421303_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesAxis" xlink:type="locator"/>
    <label id="id_14240147_3421937_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_14240147_3421937_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:label="ifrs-full_LiabilitiesArisingFromFinancingActivitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3421463_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_14240147_3421463_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="fmx-20181231.xsd#fmx_LiabilitiesDiscontinuedOperations" xlink:label="fmx_LiabilitiesDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3465470_3_1" xlink:label="fmx_LiabilitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">LIABILITIES discontinued operations</label>
    <label id="id_14240147_3465470_1_1" xlink:label="fmx_LiabilitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">LIABILITIES discontinued operations</label>
    <label id="id_14240147_3465470_2_1" xlink:label="fmx_LiabilitiesDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Liabilities of discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LiabilitiesDiscontinuedOperations" xlink:to="fmx_LiabilitiesDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesIncurred" xlink:label="ifrs-full_LiabilitiesIncurred" xlink:type="locator"/>
    <label id="id_14240147_3421464_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_14240147_3421464_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilitiesMember" xlink:label="ifrs-full_LiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3421050_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_14240147_3421050_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-20181231.xsd#fmx_LiabilitiesRecognisedAsOfAcquisitionDate" xlink:label="fmx_LiabilitiesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3441606_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_14240147_3441606_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_14240147_3441606_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:label="ifrs-full_LiabilityAssetOfDefinedBenefitPlans" xlink:type="locator"/>
    <label id="id_14240147_3421467_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_14240147_3421467_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_14240147_3421467_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_14240147_3421467_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_14240147_3421467_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LicencesAndFranchises" xlink:label="ifrs-full_LicencesAndFranchises" xlink:type="locator"/>
    <label id="id_14240147_3421469_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_14240147_3421469_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-20181231.xsd#fmx_Licenses" xlink:label="fmx_Licenses" xlink:type="locator"/>
    <label id="id_14240147_3541785_3_1" xlink:label="fmx_Licenses_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Licenses</label>
    <label id="id_14240147_3541785_1_1" xlink:label="fmx_Licenses_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Licenses</label>
    <label id="id_14240147_3541785_2_1" xlink:label="fmx_Licenses_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Licenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_Licenses" xlink:to="fmx_Licenses_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset" xlink:label="fmx_LifeAnnuitiesNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3441869_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_14240147_3441869_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_14240147_3441869_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LiquidityRiskMember" xlink:label="ifrs-full_LiquidityRiskMember" xlink:type="locator"/>
    <label id="id_14240147_3421474_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_14240147_3421474_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-20181231.xsd#fmx_LitigationSettlementAmount1" xlink:label="fmx_LitigationSettlementAmount1" xlink:type="locator"/>
    <label id="id_14240147_3464573_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_14240147_3464573_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_14240147_3464573_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-20181231.xsd#fmx_LogisticServicesMember" xlink:label="fmx_LogisticServicesMember" xlink:type="locator"/>
    <label id="id_14240147_3485222_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_14240147_3485222_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_14240147_3485222_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-20181231.xsd#fmx_LongTermAlcoholLicensesMember" xlink:label="fmx_LongTermAlcoholLicensesMember" xlink:type="locator"/>
    <label id="id_14240147_3500489_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_14240147_3500489_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_14240147_3500489_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_LongtermBorrowings" xlink:label="ifrs-full_LongtermBorrowings" xlink:type="locator"/>
    <label id="id_14240147_3421479_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_14240147_3421479_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-20181231.xsd#fmx_LongTermBorrowingsBankLoansMember" xlink:label="fmx_LongTermBorrowingsBankLoansMember" xlink:type="locator"/>
    <label id="id_14240147_3487153_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_14240147_3487153_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_14240147_3487153_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-20181231.xsd#fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member" xlink:label="fmx_LongTermBorrowingsBankOfNNYFEMSAUSD2023Member" xlink:type="locator"/>
    <label id="id_14240147_3514418_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_14240147_3514418_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_14240147_3514418_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-20181231.xsd#fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member" xlink:label="fmx_LongTermBorrowingsBankOfNYFEMSAUSD2043Member" xlink:type="locator"/>
    <label id="id_14240147_3514597_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_14240147_3514597_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_14240147_3514597_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-20181231.xsd#fmx_LongTermBorrowingsCapitalLeaseMember" xlink:label="fmx_LongTermBorrowingsCapitalLeaseMember" xlink:type="locator"/>
    <label id="id_14240147_3514421_3_1" xlink:label="fmx_LongTermBorrowingsCapitalLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings capital lease.</label>
    <label id="id_14240147_3514421_1_1" xlink:label="fmx_LongTermBorrowingsCapitalLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term borrowings capital lease [member]</label>
    <label id="id_14240147_3514421_2_1" xlink:label="fmx_LongTermBorrowingsCapitalLeaseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term borrowings capital lease [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsCapitalLeaseMember" xlink:to="fmx_LongTermBorrowingsCapitalLeaseMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_LongTermBorrowingsDomesticSeniorNotesMember" xlink:label="fmx_LongTermBorrowingsDomesticSeniorNotesMember" xlink:type="locator"/>
    <label id="id_14240147_3487152_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_14240147_3487152_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_14240147_3487152_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-20181231.xsd#fmx_LongTermBorrowingsNotesPayableMember" xlink:label="fmx_LongTermBorrowingsNotesPayableMember" xlink:type="locator"/>
    <label id="id_14240147_3487096_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_14240147_3487096_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_14240147_3487096_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-20181231.xsd#fmx_LongTermBorrowingsPromissoryNoteMember" xlink:label="fmx_LongTermBorrowingsPromissoryNoteMember" xlink:type="locator"/>
    <label id="id_14240147_3554385_3_1" xlink:label="fmx_LongTermBorrowingsPromissoryNoteMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Long term borrowings promissory note.</label>
    <label id="id_14240147_3554385_1_1" xlink:label="fmx_LongTermBorrowingsPromissoryNoteMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Long term borrowings promissory note [member]</label>
    <label id="id_14240147_3554385_2_1" xlink:label="fmx_LongTermBorrowingsPromissoryNoteMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Long term borrowings promissory note [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LongTermBorrowingsPromissoryNoteMember" xlink:to="fmx_LongTermBorrowingsPromissoryNoteMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_LongTermBorrowingsSeniorUnsecuredNotesMember" xlink:label="fmx_LongTermBorrowingsSeniorUnsecuredNotesMember" xlink:type="locator"/>
    <label id="id_14240147_3487148_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_14240147_3487148_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_14240147_3487148_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-20181231.xsd#fmx_LongTermBorrowingsYankeeBondMember" xlink:label="fmx_LongTermBorrowingsYankeeBondMember" xlink:type="locator"/>
    <label id="id_14240147_3514422_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_14240147_3514422_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_14240147_3514422_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-20181231.xsd#fmx_LongTermForeignCurrencyFinancialAssets" xlink:label="fmx_LongTermForeignCurrencyFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3443011_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_14240147_3443011_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_14240147_3443011_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-20181231.xsd#fmx_LongTermForeignCurrencyFinancialLiabilities" xlink:label="fmx_LongTermForeignCurrencyFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3443009_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_14240147_3443009_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_14240147_3443009_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-20181231.xsd#fmx_LongTermPrepaidAdvertisingExpenses" xlink:label="fmx_LongTermPrepaidAdvertisingExpenses" xlink:type="locator"/>
    <label id="id_14240147_3452114_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_14240147_3452114_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_14240147_3452114_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-20181231.xsd#fmx_LossContingencyDamagesSoughtValue1" xlink:label="fmx_LossContingencyDamagesSoughtValue1" xlink:type="locator"/>
    <label id="id_14240147_3439822_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_14240147_3439822_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_14240147_3439822_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-20181231.xsd#fmx_LossesOnDisposalsOfOtherAssets" xlink:label="fmx_LossesOnDisposalsOfOtherAssets" xlink:type="locator"/>
    <label id="id_14240147_3434094_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_14240147_3434094_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_14240147_3434094_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-20181231.xsd#fmx_LossOnSaleOfEquityFinancialAssets" xlink:label="fmx_LossOnSaleOfEquityFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3463951_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_14240147_3463951_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_14240147_3463951_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-20181231.xsd#fmx_LosVolcanesMember" xlink:label="fmx_LosVolcanesMember" xlink:type="locator"/>
    <label id="id_14240147_3553815_3_1" xlink:label="fmx_LosVolcanesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Los Volcanes.</label>
    <label id="id_14240147_3553815_1_1" xlink:label="fmx_LosVolcanesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Los Volcanes [member]</label>
    <label id="id_14240147_3553815_2_1" xlink:label="fmx_LosVolcanesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Los Volcanes [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_LosVolcanesMember" xlink:to="fmx_LosVolcanesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_MachineryAndEquipment1Member" xlink:label="fmx_MachineryAndEquipment1Member" xlink:type="locator"/>
    <label id="id_14240147_3509067_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_14240147_3509067_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_14240147_3509067_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:label="ifrs-full_MajorComponentsOfTaxExpenseIncomeAbstract" xlink:type="locator"/>
    <label id="id_14240147_3421961_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_14240147_3421961_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="fmx-20181231.xsd#fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember" xlink:label="fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember" xlink:type="locator"/>
    <label id="id_14240147_3556574_3_1" xlink:label="fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Major ordinary share transactions after stock split.</label>
    <label id="id_14240147_3556574_1_1" xlink:label="fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major ordinary share transactions after stock split [member]</label>
    <label id="id_14240147_3556574_2_1" xlink:label="fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major ordinary share transactions after stock split [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember" xlink:to="fmx_MajorOrdinaryShareTransactionsAfterStockSplitMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember" xlink:label="fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember" xlink:type="locator"/>
    <label id="id_14240147_3556573_3_1" xlink:label="fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Major ordinary share transactions prior to stock split.</label>
    <label id="id_14240147_3556573_1_1" xlink:label="fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Major ordinary share transactions prior to stock split [member]</label>
    <label id="id_14240147_3556573_2_1" xlink:label="fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Major ordinary share transactions prior to stock split [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember" xlink:to="fmx_MajorOrdinaryShareTransactionsPriorToStockSplitMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MarketRiskMember" xlink:label="ifrs-full_MarketRiskMember" xlink:type="locator"/>
    <label id="id_14240147_3421494_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_14240147_3421494_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-20181231.xsd#fmx_MarketValueGainLossOnFinancialInstruments" xlink:label="fmx_MarketValueGainLossOnFinancialInstruments" xlink:type="locator"/>
    <label id="id_14240147_3464013_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_14240147_3464013_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_14240147_3464013_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaterialReconcilingItemsMember" xlink:label="ifrs-full_MaterialReconcilingItemsMember" xlink:type="locator"/>
    <label id="id_14240147_3421087_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_14240147_3421087_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-20181231.xsd#fmx_MatoGrossoDoSulMember" xlink:label="fmx_MatoGrossoDoSulMember" xlink:type="locator"/>
    <label id="id_14240147_3482073_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_14240147_3482073_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_14240147_3482073_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MaturityAxis" xlink:label="ifrs-full_MaturityAxis" xlink:type="locator"/>
    <label id="id_14240147_3421968_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_14240147_3421968_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-20181231.xsd#fmx_MaximumPercentageForVoting" xlink:label="fmx_MaximumPercentageForVoting" xlink:type="locator"/>
    <label id="id_14240147_3526561_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_14240147_3526561_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_14240147_3526561_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-20181231.xsd#fmx_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock" xlink:label="fmx_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock" xlink:type="locator"/>
    <label id="id_14240147_3554092_3_1" xlink:label="fmx_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Maximum percentage share with limited voting rights represents KOF stock.</label>
    <label id="id_14240147_3554092_1_1" xlink:label="fmx_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Maximum Percentage share with limited voting rights represents KOF stock</label>
    <label id="id_14240147_3554092_2_1" xlink:label="fmx_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock_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_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock" xlink:to="fmx_MaximumPercentageShareWithLimitedVotingRightsRepresentsKOFStock_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_MaximumReserveForSharePurchase" xlink:label="fmx_MaximumReserveForSharePurchase" xlink:type="locator"/>
    <label id="id_14240147_3454172_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_14240147_3454172_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_14240147_3454172_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-20181231.xsd#fmx_MaximumWagesOrServiceForService" xlink:label="fmx_MaximumWagesOrServiceForService" xlink:type="locator"/>
    <label id="id_14240147_3472154_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_14240147_3472154_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_14240147_3472154_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MeasurementAxis" xlink:label="ifrs-full_MeasurementAxis" xlink:type="locator"/>
    <label id="id_14240147_3421501_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_14240147_3421501_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Merchandise" xlink:label="ifrs-full_Merchandise" xlink:type="locator"/>
    <label id="id_14240147_3421355_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_14240147_3421355_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-20181231.xsd#fmx_MexicanFederalGovernmentInstrumentsMember" xlink:label="fmx_MexicanFederalGovernmentInstrumentsMember" xlink:type="locator"/>
    <label id="id_14240147_3502506_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_14240147_3502506_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_14240147_3502506_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-20181231.xsd#fmx_MexicanPesosMember" xlink:label="fmx_MexicanPesosMember" xlink:type="locator"/>
    <label id="id_14240147_3485455_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_14240147_3485455_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_14240147_3485455_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-20181231.xsd#fmx_MexicoAndCentralAmericaMember" xlink:label="fmx_MexicoAndCentralAmericaMember" xlink:type="locator"/>
    <label id="id_14240147_3498125_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_14240147_3498125_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_14240147_3498125_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-20181231.xsd#fmx_MinasGeraisMember" xlink:label="fmx_MinasGeraisMember" xlink:type="locator"/>
    <label id="id_14240147_3482075_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_14240147_3482075_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_14240147_3482075_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-20181231.xsd#fmx_MinimumAgeForRetirementBenefits" xlink:label="fmx_MinimumAgeForRetirementBenefits" xlink:type="locator"/>
    <label id="id_14240147_3471384_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_14240147_3471384_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_14240147_3471384_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-20181231.xsd#fmx_MinimumAssumedIncomeTaxRate" xlink:label="fmx_MinimumAssumedIncomeTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3554386_3_1" xlink:label="fmx_MinimumAssumedIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Minimum assumed income tax rate.</label>
    <label id="id_14240147_3554386_1_1" xlink:label="fmx_MinimumAssumedIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Minimum assumed income tax rate</label>
    <label id="id_14240147_3554386_2_1" xlink:label="fmx_MinimumAssumedIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Minimum assumed income tax rate</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MinimumAssumedIncomeTaxRate" xlink:to="fmx_MinimumAssumedIncomeTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayable" xlink:type="locator"/>
    <label id="id_14240147_3422241_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_14240147_3422241_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue" xlink:label="ifrs-full_MinimumFinanceLeasePaymentsPayableAtPresentValue" xlink:type="locator"/>
    <label id="id_14240147_3421980_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_14240147_3421980_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-20181231.xsd#fmx_MinimumPaymentsMember" xlink:label="fmx_MinimumPaymentsMember" xlink:type="locator"/>
    <label id="id_14240147_3491093_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_14240147_3491093_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_14240147_3491093_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-20181231.xsd#fmx_MinimumPercentageForVoting" xlink:label="fmx_MinimumPercentageForVoting" xlink:type="locator"/>
    <label id="id_14240147_3526562_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_14240147_3526562_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_14240147_3526562_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-20181231.xsd#fmx_MinimumWagesOrServiceForService" xlink:label="fmx_MinimumWagesOrServiceForService" xlink:type="locator"/>
    <label id="id_14240147_3472153_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_14240147_3472153_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_14240147_3472153_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-20181231.xsd#fmx_MinimumYearOfServiceForRetirementBenefits" xlink:label="fmx_MinimumYearOfServiceForRetirementBenefits" xlink:type="locator"/>
    <label id="id_14240147_3432509_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_14240147_3432509_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_14240147_3432509_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousAssetsAbstract" xlink:label="ifrs-full_MiscellaneousAssetsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3421517_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_14240147_3421517_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousOtherOperatingExpense" xlink:label="ifrs-full_MiscellaneousOtherOperatingExpense" xlink:type="locator"/>
    <label id="id_14240147_3421984_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_14240147_3421984_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_MiscellaneousOtherOperatingIncome" xlink:label="ifrs-full_MiscellaneousOtherOperatingIncome" xlink:type="locator"/>
    <label id="id_14240147_3421985_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_14240147_3421985_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="fmx-20181231.xsd#fmx_MonresaMember" xlink:label="fmx_MonresaMember" xlink:type="locator"/>
    <label id="id_14240147_3553816_3_1" xlink:label="fmx_MonresaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">MONRESA.</label>
    <label id="id_14240147_3553816_1_1" xlink:label="fmx_MonresaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">MONRESA [member]</label>
    <label id="id_14240147_3553816_2_1" xlink:label="fmx_MonresaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">MONRESA [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MonresaMember" xlink:to="fmx_MonresaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_MoreThanTwelveMonthsMember" xlink:label="fmx_MoreThanTwelveMonthsMember" xlink:type="locator"/>
    <label id="id_14240147_3508512_3_1" xlink:label="fmx_MoreThanTwelveMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">More than twelve months.</label>
    <label id="id_14240147_3508512_1_1" xlink:label="fmx_MoreThanTwelveMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">More than Twelve Months [member]</label>
    <label id="id_14240147_3508512_2_1" xlink:label="fmx_MoreThanTwelveMonthsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">More than 12 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_MoreThanTwelveMonthsMember" xlink:to="fmx_MoreThanTwelveMonthsMember_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_14240147_3422291_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_14240147_3422291_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_MXN" xlink:label="currency_MXN" xlink:type="locator"/>
    <label id="id_14240147_3421552_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_14240147_3421552_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfAcquiree" xlink:label="ifrs-full_NameOfAcquiree" xlink:type="locator"/>
    <label id="id_14240147_3421557_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_14240147_3421557_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfAssociate" xlink:label="ifrs-full_NameOfAssociate" xlink:type="locator"/>
    <label id="id_14240147_3421597_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_14240147_3421597_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfJointVenture" xlink:label="ifrs-full_NameOfJointVenture" xlink:type="locator"/>
    <label id="id_14240147_3422023_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_14240147_3422023_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NameOfSubsidiary" xlink:label="ifrs-full_NameOfSubsidiary" xlink:type="locator"/>
    <label id="id_14240147_3422299_1_1" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Name of subsidiary</label>
    <label id="id_14240147_3422299_2_1" xlink:label="ifrs-full_NameOfSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Shareholders</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NameOfSubsidiary" xlink:to="ifrs-full_NameOfSubsidiary_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfAccumulatedOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <label id="id_14240147_3510834_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_14240147_3510834_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_14240147_3510834_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-20181231.xsd#fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember" xlink:label="fmx_NetBenefitCostRecognizedInConsolidatedStatementsOfOtherComprehensiveIncomeMember" xlink:type="locator"/>
    <label id="id_14240147_3502573_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_14240147_3502573_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_14240147_3502573_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-20181231.xsd#fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:label="fmx_NetBenefitCostRecognizedInTheConsolidatedStatementsOfIncomeMember" xlink:type="locator"/>
    <label id="id_14240147_3480154_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_14240147_3480154_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_14240147_3480154_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-20181231.xsd#fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember" xlink:label="fmx_NetCashInForeignCurrencyOfEuroAgainstUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497066_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_14240147_3497066_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_14240147_3497066_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-20181231.xsd#fmx_NetCashInForeignCurrencyOfUSDMember" xlink:label="fmx_NetCashInForeignCurrencyOfUSDMember" xlink:type="locator"/>
    <label id="id_14240147_3497067_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_14240147_3497067_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_14240147_3497067_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-20181231.xsd#fmx_NetCashOutflowFromDeconsolidation" xlink:label="fmx_NetCashOutflowFromDeconsolidation" xlink:type="locator"/>
    <label id="id_14240147_3442950_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_14240147_3442950_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_14240147_3442950_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 (see Note 3.3)</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetAxis" xlink:type="locator"/>
    <label id="id_14240147_3421612_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_14240147_3421612_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:label="ifrs-full_NetDefinedBenefitLiabilityAssetMember" xlink:type="locator"/>
    <label id="id_14240147_3421569_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_14240147_3421569_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="fmx-20181231.xsd#fmx_NetExposureCommoditiesRisk" xlink:label="fmx_NetExposureCommoditiesRisk" xlink:type="locator"/>
    <label id="id_14240147_3554496_3_1" xlink:label="fmx_NetExposureCommoditiesRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net exposure, commodities risk.</label>
    <label id="id_14240147_3554496_1_1" xlink:label="fmx_NetExposureCommoditiesRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net exposure, commodities risk</label>
    <label id="id_14240147_3554496_2_1" xlink:label="fmx_NetExposureCommoditiesRisk_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net exposure</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetExposureCommoditiesRisk" xlink:to="fmx_NetExposureCommoditiesRisk_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NetExposureForeignExchangeRates" xlink:label="fmx_NetExposureForeignExchangeRates" xlink:type="locator"/>
    <label id="id_14240147_3541897_3_1" xlink:label="fmx_NetExposureForeignExchangeRates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net exposure, foreign exchange rates</label>
    <label id="id_14240147_3541897_1_1" xlink:label="fmx_NetExposureForeignExchangeRates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net exposure, foreign exchange rates</label>
    <label id="id_14240147_3541897_2_1" xlink:label="fmx_NetExposureForeignExchangeRates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net exposure</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetExposureForeignExchangeRates" xlink:to="fmx_NetExposureForeignExchangeRates_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NetExposureInterestRates" xlink:label="fmx_NetExposureInterestRates" xlink:type="locator"/>
    <label id="id_14240147_3541898_3_1" xlink:label="fmx_NetExposureInterestRates_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net exposure, interest rates</label>
    <label id="id_14240147_3541898_1_1" xlink:label="fmx_NetExposureInterestRates_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net exposure, interest rates</label>
    <label id="id_14240147_3541898_2_1" xlink:label="fmx_NetExposureInterestRates_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net exposure</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetExposureInterestRates" xlink:to="fmx_NetExposureInterestRates_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetForeignExchangeGain" xlink:label="ifrs-full_NetForeignExchangeGain" xlink:type="locator"/>
    <label id="id_14240147_3422463_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_14240147_3422463_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NetForeignExchangeLoss" xlink:label="ifrs-full_NetForeignExchangeLoss" xlink:type="locator"/>
    <label id="id_14240147_3422464_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_14240147_3422464_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-20181231.xsd#fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales" xlink:label="fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales" xlink:type="locator"/>
    <label id="id_14240147_3564627_3_1" xlink:label="fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net income for discontinued operations before currency translation effect for subsidiary disposal and gain from sales</label>
    <label id="id_14240147_3564627_1_1" xlink:label="fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income for discontinued operations before currency translation effect for subsidiary disposal and gain from sales</label>
    <label id="id_14240147_3564627_6_1" xlink:label="fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income for discontinued operations before currency translation effect for the subsidiary disposal and the gain from the sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales" xlink:to="fmx_NetIncomeForDiscontinuedOperationsBeforeCurrencyTranslationEffectForSubsidiaryDisposalAndGainFromSales_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NetIncomeForSubsidiaryDisposalControllingInterest" xlink:label="fmx_NetIncomeForSubsidiaryDisposalControllingInterest" xlink:type="locator"/>
    <label id="id_14240147_3553950_3_1" xlink:label="fmx_NetIncomeForSubsidiaryDisposalControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net income for subsidiary disposal - controlling interest.</label>
    <label id="id_14240147_3553950_1_1" xlink:label="fmx_NetIncomeForSubsidiaryDisposalControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net income for subsidiary disposal - controlling interest</label>
    <label id="id_14240147_3553950_2_1" xlink:label="fmx_NetIncomeForSubsidiaryDisposalControllingInterest_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income for subsidiary disposal - controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetIncomeForSubsidiaryDisposalControllingInterest" xlink:to="fmx_NetIncomeForSubsidiaryDisposalControllingInterest_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NetIncomeOfNonControllingInterest" xlink:label="fmx_NetIncomeOfNonControllingInterest" xlink:type="locator"/>
    <label id="id_14240147_3434222_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_14240147_3434222_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_14240147_3434222_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-20181231.xsd#fmx_NetOperatingLossUsageLimit" xlink:label="fmx_NetOperatingLossUsageLimit" xlink:type="locator"/>
    <label id="id_14240147_3526643_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_14240147_3526643_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_14240147_3526643_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-20181231.xsd#fmx_NetSalesTradeReceivablesAndBorrowingsMember" xlink:label="fmx_NetSalesTradeReceivablesAndBorrowingsMember" xlink:type="locator"/>
    <label id="id_14240147_3541747_3_1" xlink:label="fmx_NetSalesTradeReceivablesAndBorrowingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Net sales, trade receivables and borrowings.</label>
    <label id="id_14240147_3541747_1_1" xlink:label="fmx_NetSalesTradeReceivablesAndBorrowingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Net sales trade receivables and borrowings [member]</label>
    <label id="id_14240147_3541747_2_1" xlink:label="fmx_NetSalesTradeReceivablesAndBorrowingsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net sales trade receivables and borrowings [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NetSalesTradeReceivablesAndBorrowingsMember" xlink:to="fmx_NetSalesTradeReceivablesAndBorrowingsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NetTaxableIncomeDenominatedBalance" xlink:label="fmx_NetTaxableIncomeDenominatedBalance" xlink:type="locator"/>
    <label id="id_14240147_3445039_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_14240147_3445039_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_14240147_3445039_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_14240147_3421579_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_14240147_3421579_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_NIO" xlink:label="currency_NIO" xlink:type="locator"/>
    <label id="id_14240147_3422321_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_14240147_3422321_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:label="ifrs-full_NonadjustingEventsAfterReportingPeriodAxis" xlink:type="locator"/>
    <label id="id_14240147_3421584_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_14240147_3421584_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NonadjustingEventsMember" xlink:label="ifrs-full_NonadjustingEventsMember" xlink:type="locator"/>
    <label id="id_14240147_3421585_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_14240147_3421585_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:label="ifrs-full_NoncontrollingInterestInAcquireeRecognisedAtAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3421632_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_14240147_3421632_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-controlling 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterests" xlink:label="ifrs-full_NoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3421633_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_14240147_3421633_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 period</label>
    <label id="id_14240147_3421633_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 period</label>
    <label id="id_14240147_3421633_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_14240147_3421633_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 interest</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncontrollingInterestsMember" xlink:label="ifrs-full_NoncontrollingInterestsMember" xlink:type="locator"/>
    <label id="id_14240147_3421587_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_14240147_3421587_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-20181231.xsd#fmx_NonCumulativePremiumMember" xlink:label="fmx_NonCumulativePremiumMember" xlink:type="locator"/>
    <label id="id_14240147_3497000_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_14240147_3497000_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_14240147_3497000_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssets" xlink:label="ifrs-full_NoncurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3421635_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_14240147_3421635_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-current assets</label>
    <label id="id_14240147_3421635_6_1" xlink:label="ifrs-full_NoncurrentAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" 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_NoncurrentAssets" xlink:to="ifrs-full_NoncurrentAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssetsAbstract" xlink:label="ifrs-full_NoncurrentAssetsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3422476_1_1" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current assets [abstract]</label>
    <label id="id_14240147_3422476_2_1" xlink:label="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NON CURRENT ASSETS</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentAssetsAbstract" xlink:to="ifrs-full_NoncurrentAssetsAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:label="ifrs-full_NoncurrentAssetsOtherThanFinancialInstrumentsDeferredTaxAssetsPostemploymentBenefitAssetsAndRightsArisingUnderInsuranceContracts" xlink:type="locator"/>
    <label id="id_14240147_3422328_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_14240147_3422328_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_NoncurrentAssetsRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3421638_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_14240147_3421638_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>
    <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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:label="ifrs-full_NoncurrentDerivativeFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3421640_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_14240147_3421640_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_14240147_3421640_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:label="ifrs-full_NoncurrentDerivativeFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3422482_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_14240147_3422482_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilities" xlink:label="ifrs-full_NoncurrentLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3422493_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_14240147_3422493_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-current liabilities</label>
    <label id="id_14240147_3422493_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentLiabilitiesAbstract" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3422334_1_1" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Non-current liabilities [abstract]</label>
    <label id="id_14240147_3422334_2_1" xlink:label="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">NON-CURRENTLIABILITIES</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NoncurrentLiabilitiesAbstract" xlink:to="ifrs-full_NoncurrentLiabilitiesAbstract_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NonCurrentPortionOfBankLoansAndNotesPayable" xlink:label="fmx_NonCurrentPortionOfBankLoansAndNotesPayable" xlink:type="locator"/>
    <label id="id_14240147_3444594_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_14240147_3444594_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_14240147_3444594_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentPrepayments" xlink:label="ifrs-full_NoncurrentPrepayments" xlink:type="locator"/>
    <label id="id_14240147_3422340_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_14240147_3422340_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentProvisions" xlink:label="ifrs-full_NoncurrentProvisions" xlink:type="locator"/>
    <label id="id_14240147_3422499_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_14240147_3422499_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 non-current 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits" xlink:type="locator"/>
    <label id="id_14240147_3422044_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_14240147_3422044_2_1" xlink:label="ifrs-full_NoncurrentProvisionsForEmployeeBenefits_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post-employment benefits</label>
    <label id="id_14240147_3422044_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NoncurrentReceivables" xlink:label="ifrs-full_NoncurrentReceivables" xlink:type="locator"/>
    <label id="id_14240147_3421657_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_14240147_3421657_2_1" xlink:label="ifrs-full_NoncurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-current accounts receivable</label>
    <label id="id_14240147_3421657_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 receivables</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-20181231.xsd#fmx_NonderivativeFinancialLiabilitiesMember" xlink:label="fmx_NonderivativeFinancialLiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3506546_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_14240147_3506546_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_14240147_3506546_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-20181231.xsd#fmx_NonOperatingIncomeExpense1" xlink:label="fmx_NonOperatingIncomeExpense1" xlink:type="locator"/>
    <label id="id_14240147_3446682_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_14240147_3446682_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_14240147_3446682_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-20181231.xsd#fmx_NormalRetirementAge" xlink:label="fmx_NormalRetirementAge" xlink:type="locator"/>
    <label id="id_14240147_3472704_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_14240147_3472704_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_14240147_3472704_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-20181231.xsd#fmx_NotesPayableMember" xlink:label="fmx_NotesPayableMember" xlink:type="locator"/>
    <label id="id_14240147_3479625_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_14240147_3479625_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_14240147_3479625_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotionalAmount" xlink:label="ifrs-full_NotionalAmount" xlink:type="locator"/>
    <label id="id_14240147_3421667_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_14240147_3421667_32_1" xlink:label="ifrs-full_NotionalAmount_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Notional amount</label>
    <label id="id_14240147_3421667_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_14240147_3421667_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneMonthMember" xlink:label="ifrs-full_NotLaterThanOneMonthMember" xlink:type="locator"/>
    <label id="id_14240147_3421668_1_1" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Not later than one month [member]</label>
    <label id="id_14240147_3421668_2_1" xlink:label="ifrs-full_NotLaterThanOneMonthMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">0-30 days [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_NotLaterThanOneMonthMember" xlink:to="ifrs-full_NotLaterThanOneMonthMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NotLaterThanOneYearMember" xlink:label="ifrs-full_NotLaterThanOneYearMember" xlink:type="locator"/>
    <label id="id_14240147_3422054_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_14240147_3422054_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-20181231.xsd#fmx_NumberOfAgreements" xlink:label="fmx_NumberOfAgreements" xlink:type="locator"/>
    <label id="id_14240147_3471463_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_14240147_3471463_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_14240147_3471463_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-20181231.xsd#fmx_NumberOfConsumersReached" xlink:label="fmx_NumberOfConsumersReached" xlink:type="locator"/>
    <label id="id_14240147_3553826_3_1" xlink:label="fmx_NumberOfConsumersReached_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of consumers reached.</label>
    <label id="id_14240147_3553826_1_1" xlink:label="fmx_NumberOfConsumersReached_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of Consumers Reached</label>
    <label id="id_14240147_3553826_2_1" xlink:label="fmx_NumberOfConsumersReached_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of consumers reached</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfConsumersReached" xlink:to="fmx_NumberOfConsumersReached_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NumberOfDistributionCenters" xlink:label="fmx_NumberOfDistributionCenters" xlink:type="locator"/>
    <label id="id_14240147_3471605_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_14240147_3471605_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_14240147_3471605_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-20181231.xsd#fmx_NumberOfDrugStore" xlink:label="fmx_NumberOfDrugStore" xlink:type="locator"/>
    <label id="id_14240147_3471466_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_14240147_3471466_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_14240147_3471466_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:label="ifrs-full_NumberOfInstrumentsOrInterestsIssuedOrIssuable" xlink:type="locator"/>
    <label id="id_14240147_3421676_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_14240147_3421676_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-20181231.xsd#fmx_NumberOfOrdinarySharesOfAssociateSold" xlink:label="fmx_NumberOfOrdinarySharesOfAssociateSold" xlink:type="locator"/>
    <label id="id_14240147_3468384_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_14240147_3468384_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_14240147_3468384_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfOutstandingShareOptions" xlink:label="ifrs-full_NumberOfOutstandingShareOptions" xlink:type="locator"/>
    <label id="id_14240147_3421679_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_14240147_3421679_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_14240147_3421679_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-20181231.xsd#fmx_NumberOfPointsOfSale" xlink:label="fmx_NumberOfPointsOfSale" xlink:type="locator"/>
    <label id="id_14240147_3553827_3_1" xlink:label="fmx_NumberOfPointsOfSale_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of points of sale.</label>
    <label id="id_14240147_3553827_1_1" xlink:label="fmx_NumberOfPointsOfSale_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of points of sale</label>
    <label id="id_14240147_3553827_2_1" xlink:label="fmx_NumberOfPointsOfSale_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of points of sale</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfPointsOfSale" xlink:to="fmx_NumberOfPointsOfSale_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NumberOfSeriesBSharesIssued" xlink:label="fmx_NumberOfSeriesBSharesIssued" xlink:type="locator"/>
    <label id="id_14240147_3468046_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_14240147_3468046_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_14240147_3468046_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-20181231.xsd#fmx_NumberOfSeriesDBSharesIssued" xlink:label="fmx_NumberOfSeriesDBSharesIssued" xlink:type="locator"/>
    <label id="id_14240147_3468045_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_14240147_3468045_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_14240147_3468045_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-20181231.xsd#fmx_NumberOfSeriesDLSharesIssued" xlink:label="fmx_NumberOfSeriesDLSharesIssued" xlink:type="locator"/>
    <label id="id_14240147_3468042_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_14240147_3468042_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_14240147_3468042_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-20181231.xsd#fmx_NumberOfSeriesDSharesIssued" xlink:label="fmx_NumberOfSeriesDSharesIssued" xlink:type="locator"/>
    <label id="id_14240147_3468047_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_14240147_3468047_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_14240147_3468047_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label id="id_14240147_3422356_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_14240147_3422356_14_1" xlink:label="ifrs-full_NumberOfShareOptionsExercisedInSharebasedPaymentArrangement_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsForfeitedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label id="id_14240147_3421682_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_14240147_3421682_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:label="ifrs-full_NumberOfShareOptionsGrantedInSharebasedPaymentArrangement" xlink:type="locator"/>
    <label id="id_14240147_3422057_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_14240147_3422057_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesIssued" xlink:label="ifrs-full_NumberOfSharesIssued" xlink:type="locator"/>
    <label id="id_14240147_3422510_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_14240147_3422510_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_14240147_3422510_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_NumberOfSharesOutstanding" xlink:label="ifrs-full_NumberOfSharesOutstanding" xlink:type="locator"/>
    <label id="id_14240147_3422357_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_14240147_3422357_32_1" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Total shares</label>
    <label id="id_14240147_3422357_2_1" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Common stock outstanding</label>
    <label id="id_14240147_3422357_12_1" xlink:label="ifrs-full_NumberOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Outstanding shares</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-20181231.xsd#fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding" xlink:label="fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding" xlink:type="locator"/>
    <label id="id_14240147_3554090_3_1" xlink:label="fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of shares will receive in exchange of shares outstanding.</label>
    <label id="id_14240147_3554090_1_1" xlink:label="fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares will receive in exchange of shares outstanding</label>
    <label id="id_14240147_3554090_2_1" xlink:label="fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares will receive in exchange of shares outstanding</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding" xlink:to="fmx_NumberOfSharesWillReceiveInExchangeOfSharesOutstanding_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NumberOfSharesWillReceiveWithFullVotingRights" xlink:label="fmx_NumberOfSharesWillReceiveWithFullVotingRights" xlink:type="locator"/>
    <label id="id_14240147_3554089_3_1" xlink:label="fmx_NumberOfSharesWillReceiveWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of shares will receive with full voting rights.</label>
    <label id="id_14240147_3554089_1_1" xlink:label="fmx_NumberOfSharesWillReceiveWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares will receive with full voting rights</label>
    <label id="id_14240147_3554089_2_1" xlink:label="fmx_NumberOfSharesWillReceiveWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares will receive with full voting rights</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSharesWillReceiveWithFullVotingRights" xlink:to="fmx_NumberOfSharesWillReceiveWithFullVotingRights_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NumberOfSharesWillReceiveWithLimitedVotingRights" xlink:label="fmx_NumberOfSharesWillReceiveWithLimitedVotingRights" xlink:type="locator"/>
    <label id="id_14240147_3554088_3_1" xlink:label="fmx_NumberOfSharesWillReceiveWithLimitedVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Number of shares will receive with limited voting rights.</label>
    <label id="id_14240147_3554088_1_1" xlink:label="fmx_NumberOfSharesWillReceiveWithLimitedVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Number of shares will receive with limited voting rights</label>
    <label id="id_14240147_3554088_2_1" xlink:label="fmx_NumberOfSharesWillReceiveWithLimitedVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Number of shares will receive with limited voting rights</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_NumberOfSharesWillReceiveWithLimitedVotingRights" xlink:to="fmx_NumberOfSharesWillReceiveWithLimitedVotingRights_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_NumberOfStores1" xlink:label="fmx_NumberOfStores1" xlink:type="locator"/>
    <label id="id_14240147_3471568_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_14240147_3471568_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_14240147_3471568_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-20181231.xsd#fmx_OnePointSevenFivePercentageSeniorNotesMember" xlink:label="fmx_OnePointSevenFivePercentageSeniorNotesMember" xlink:type="locator"/>
    <label id="id_14240147_3487000_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_14240147_3487000_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_14240147_3487000_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-20181231.xsd#fmx_OpenMarketMember" xlink:label="fmx_OpenMarketMember" xlink:type="locator"/>
    <label id="id_14240147_3500449_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_14240147_3500449_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_14240147_3500449_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-20181231.xsd#fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember" xlink:label="fmx_OperadoraDeFarmaciasGenerixSAPIDeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3500434_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_14240147_3500434_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_14240147_3500434_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OperatingExpense" xlink:label="ifrs-full_OperatingExpense" xlink:type="locator"/>
    <label id="id_14240147_3422069_1_1" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Operating expense</label>
    <label id="id_14240147_3422069_2_1" xlink:label="ifrs-full_OperatingExpense_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Operating expenses</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OperatingExpense" xlink:to="ifrs-full_OperatingExpense_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OperatingSegmentsMember" xlink:label="ifrs-full_OperatingSegmentsMember" xlink:type="locator"/>
    <label id="id_14240147_3422370_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_14240147_3422370_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-20181231.xsd#fmx_OptionPremiumPaid" xlink:label="fmx_OptionPremiumPaid" xlink:type="locator"/>
    <label id="id_14240147_3454165_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_14240147_3454165_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_14240147_3454165_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-20181231.xsd#fmx_OptionsToPurchaseForeignCurrencyContractMember" xlink:label="fmx_OptionsToPurchaseForeignCurrencyContractMember" xlink:type="locator"/>
    <label id="id_14240147_3497287_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_14240147_3497287_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_14240147_3497287_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OrdinarySharesMember" xlink:label="ifrs-full_OrdinarySharesMember" xlink:type="locator"/>
    <label id="id_14240147_3422519_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_14240147_3422519_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-20181231.xsd#fmx_OtherAcquisitionsAndRemeasurements" xlink:label="fmx_OtherAcquisitionsAndRemeasurements" xlink:type="locator"/>
    <label id="id_14240147_3434224_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_14240147_3434224_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_14240147_3434224_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 remeasurements</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="fmx-20181231.xsd#fmx_OtherAcquisitionsMember" xlink:label="fmx_OtherAcquisitionsMember" xlink:type="locator"/>
    <label id="id_14240147_3476206_3_1" xlink:label="fmx_OtherAcquisitionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other acquisitions.</label>
    <label id="id_14240147_3476206_1_1" xlink:label="fmx_OtherAcquisitionsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Acquisitions [member]</label>
    <label id="id_14240147_3476206_2_1" xlink:label="fmx_OtherAcquisitionsMember_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="fmx_OtherAcquisitionsMember" xlink:to="fmx_OtherAcquisitionsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherAssetsMember" xlink:label="ifrs-full_OtherAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3422077_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_14240147_3422077_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="fmx-20181231.xsd#fmx_OtherBusinessesMember" xlink:label="fmx_OtherBusinessesMember" xlink:type="locator"/>
    <label id="id_14240147_3506243_3_1" xlink:label="fmx_OtherBusinessesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other businesses.</label>
    <label id="id_14240147_3506243_1_1" xlink:label="fmx_OtherBusinessesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other businesses [member]</label>
    <label id="id_14240147_3506243_2_1" xlink:label="fmx_OtherBusinessesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other businesses [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherBusinessesMember" xlink:to="fmx_OtherBusinessesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:label="ifrs-full_OtherCashPaymentsToAcquireEquityOrDebtInstrumentsOfOtherEntitiesClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422079_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_14240147_3422079_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</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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncome" xlink:label="ifrs-full_OtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3422081_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_14240147_3422081_32_1" xlink:label="ifrs-full_OtherComprehensiveIncome_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Other items of comprehensive (loss) income, net of tax</label>
    <label id="id_14240147_3422081_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_14240147_3422081_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeBeforeTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label id="id_14240147_3422382_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_14240147_3422382_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label id="id_14240147_3422537_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_14240147_3422537_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_14240147_3422537_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_14240147_3422537_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_14240147_3422537_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:type="locator"/>
    <label id="id_14240147_3422387_1_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_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) from investments in equity instruments</label>
    <label id="id_14240147_3422387_2_1" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Loss due to changes in the fair value in equity financial instruments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments" xlink:to="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesFromInvestmentsInEquityInstruments_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:label="ifrs-full_OtherComprehensiveIncomeNetOfTaxGainsLossesOnRemeasurementsOfDefinedBenefitPlans" xlink:type="locator"/>
    <label id="id_14240147_3422538_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_14240147_3422538_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_14240147_3422538_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_14240147_3422538_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-20181231.xsd#fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:label="fmx_OtherComprehensiveIncomeNetOfTaxValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:type="locator"/>
    <label id="id_14240147_3437076_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_14240147_3437076_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_14240147_3437076_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossBeforeTax" xlink:type="locator"/>
    <label id="id_14240147_3422391_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_14240147_3422391_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3422093_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_14240147_3422093_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_OtherComprehensiveIncomeThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3422392_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_14240147_3422392_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-20181231.xsd#fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:label="fmx_OtherComprehensiveLossAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3446731_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_14240147_3446731_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_14240147_3446731_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-20181231.xsd#fmx_OtherCurrenciesMember" xlink:label="fmx_OtherCurrenciesMember" xlink:type="locator"/>
    <label id="id_14240147_3477170_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_14240147_3477170_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_14240147_3477170_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentAssets" xlink:label="ifrs-full_OtherCurrentAssets" xlink:type="locator"/>
    <label id="id_14240147_3422393_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_14240147_3422393_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="fmx-20181231.xsd#fmx_OtherCurrentAssetsMember" xlink:label="fmx_OtherCurrentAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3533752_3_1" xlink:label="fmx_OtherCurrentAssetsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other Current Assets [member]</label>
    <label id="id_14240147_3533752_1_1" xlink:label="fmx_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_14240147_3533752_2_1" xlink:label="fmx_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="fmx_OtherCurrentAssetsMember" xlink:to="fmx_OtherCurrentAssetsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_OtherCurrentAssetsOther" xlink:label="fmx_OtherCurrentAssetsOther" xlink:type="locator"/>
    <label id="id_14240147_3441542_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_14240147_3441542_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_14240147_3441542_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentFinancialAssets" xlink:label="ifrs-full_OtherCurrentFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3421721_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_14240147_3421721_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_14240147_3421721_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentFinancialLiabilities" xlink:label="ifrs-full_OtherCurrentFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3422394_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_14240147_3422394_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_14240147_3422394_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentNonfinancialAssets" xlink:label="ifrs-full_OtherCurrentNonfinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3422545_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_14240147_3422545_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherCurrentReceivables" xlink:label="ifrs-full_OtherCurrentReceivables" xlink:type="locator"/>
    <label id="id_14240147_3422548_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_14240147_3422548_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherEmployeeExpense" xlink:label="ifrs-full_OtherEmployeeExpense" xlink:type="locator"/>
    <label id="id_14240147_3422550_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_14240147_3422550_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-20181231.xsd#fmx_OtherEquipmentMember" xlink:label="fmx_OtherEquipmentMember" xlink:type="locator"/>
    <label id="id_14240147_3484403_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_14240147_3484403_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_14240147_3484403_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByFunction" xlink:label="ifrs-full_OtherExpenseByFunction" xlink:type="locator"/>
    <label id="id_14240147_3422401_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_14240147_3422401_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherExpenseByNature" xlink:label="ifrs-full_OtherExpenseByNature" xlink:type="locator"/>
    <label id="id_14240147_3422558_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_14240147_3422558_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_14240147_3422558_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-20181231.xsd#fmx_OtherExpenseMember" xlink:label="fmx_OtherExpenseMember" xlink:type="locator"/>
    <label id="id_14240147_3539018_3_1" xlink:label="fmx_OtherExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other expense [member]</label>
    <label id="id_14240147_3539018_1_1" xlink:label="fmx_OtherExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other expense [member]</label>
    <label id="id_14240147_3539018_2_1" xlink:label="fmx_OtherExpenseMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other expense [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherExpenseMember" xlink:to="fmx_OtherExpenseMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_OtherExpensesWithRelatedParty" xlink:label="fmx_OtherExpensesWithRelatedParty" xlink:type="locator"/>
    <label id="id_14240147_3441768_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_14240147_3441768_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_14240147_3441768_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFinanceIncomeCost" xlink:label="ifrs-full_OtherFinanceIncomeCost" xlink:type="locator"/>
    <label id="id_14240147_3422560_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_14240147_3422560_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-20181231.xsd#fmx_OtherFinancialAssetMember" xlink:label="fmx_OtherFinancialAssetMember" xlink:type="locator"/>
    <label id="id_14240147_3477423_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_14240147_3477423_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_14240147_3477423_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherFinancialLiabilities" xlink:label="ifrs-full_OtherFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3421726_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_14240147_3421726_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-20181231.xsd#fmx_OtherForeignCurrencyTransactions" xlink:label="fmx_OtherForeignCurrencyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3530470_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_14240147_3530470_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_14240147_3530470_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherIncome" xlink:label="ifrs-full_OtherIncome" xlink:type="locator"/>
    <label id="id_14240147_3421727_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_14240147_3421727_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_14240147_3421727_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-20181231.xsd#fmx_OtherIndefiniteLivedIntangibleAssetsMember" xlink:label="fmx_OtherIndefiniteLivedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3485200_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_14240147_3485200_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_14240147_3485200_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:label="ifrs-full_OtherInflowsOutflowsOfCashClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422561_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_14240147_3422561_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherIntangibleAssetsMember" xlink:label="ifrs-full_OtherIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3422562_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_14240147_3422562_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherInventories" xlink:label="ifrs-full_OtherInventories" xlink:type="locator"/>
    <label id="id_14240147_3422408_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_14240147_3422408_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-20181231.xsd#fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember" xlink:label="fmx_OtherInvestmentsInCocaColaFEMSAsCompaniesMember" xlink:type="locator"/>
    <label id="id_14240147_3485110_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_14240147_3485110_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_14240147_3485110_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="fmx-20181231.xsd#fmx_OtherInvestmentsMember" xlink:label="fmx_OtherInvestmentsMember" xlink:type="locator"/>
    <label id="id_14240147_3532588_3_1" xlink:label="fmx_OtherInvestmentsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other investments [member]</label>
    <label id="id_14240147_3532588_1_1" xlink:label="fmx_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_14240147_3532588_2_1" xlink:label="fmx_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="fmx_OtherInvestmentsMember" xlink:to="fmx_OtherInvestmentsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_OtherLiabilitiesMember" xlink:label="fmx_OtherLiabilitiesMember" xlink:type="locator"/>
    <label id="id_14240147_3532401_3_1" xlink:label="fmx_OtherLiabilitiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other liabilities.</label>
    <label id="id_14240147_3532401_1_1" xlink:label="fmx_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_14240147_3532401_2_1" xlink:label="fmx_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="fmx_OtherLiabilitiesMember" xlink:to="fmx_OtherLiabilitiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherMaterialNoncashItems" xlink:label="ifrs-full_OtherMaterialNoncashItems" xlink:type="locator"/>
    <label id="id_14240147_3421732_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_14240147_3421732_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-20181231.xsd#fmx_OtherMiscelleneousAssets" xlink:label="fmx_OtherMiscelleneousAssets" xlink:type="locator"/>
    <label id="id_14240147_3439625_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_14240147_3439625_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_14240147_3439625_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentFinancialAssets" xlink:label="ifrs-full_OtherNoncurrentFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3422411_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_14240147_3422411_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 non-current financial assets</label>
    <label id="id_14240147_3422411_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-20181231.xsd#fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers" xlink:label="fmx_OtherNonCurrentFinancialAssetsClassifiedAsOthers" xlink:type="locator"/>
    <label id="id_14240147_3466817_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_14240147_3466817_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_14240147_3466817_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:label="ifrs-full_OtherNoncurrentFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3422412_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_14240147_3422412_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 non-current 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:label="ifrs-full_OtherNoncurrentNonfinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3422107_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_14240147_3422107_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 non-current assets</label>
    <label id="id_14240147_3422107_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-20181231.xsd#fmx_OtherPayablesToRelatedPartyTransaction" xlink:label="fmx_OtherPayablesToRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3457464_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_14240147_3457464_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_14240147_3457464_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-20181231.xsd#fmx_OtherPrepaidExpenses" xlink:label="fmx_OtherPrepaidExpenses" xlink:type="locator"/>
    <label id="id_14240147_3433347_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_14240147_3433347_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_14240147_3433347_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="fmx-20181231.xsd#fmx_OtherProductsExpensesNet" xlink:label="fmx_OtherProductsExpensesNet" xlink:type="locator"/>
    <label id="id_14240147_3541717_3_1" xlink:label="fmx_OtherProductsExpensesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other products (expenses), net.</label>
    <label id="id_14240147_3541717_1_1" xlink:label="fmx_OtherProductsExpensesNet_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other Products (Expenses), Net</label>
    <label id="id_14240147_3541717_14_1" xlink:label="fmx_OtherProductsExpensesNet_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Other expenses, net</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherProductsExpensesNet" xlink:to="fmx_OtherProductsExpensesNet_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:label="ifrs-full_OtherPropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <label id="id_14240147_3421738_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_14240147_3421738_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherProvisionsMember" xlink:label="ifrs-full_OtherProvisionsMember" xlink:type="locator"/>
    <label id="id_14240147_3422111_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_14240147_3422111_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-20181231.xsd#fmx_OtherReceivableRelatedPartyTransaction" xlink:label="fmx_OtherReceivableRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3457480_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_14240147_3457480_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_14240147_3457480_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherReservesMember" xlink:label="ifrs-full_OtherReservesMember" xlink:type="locator"/>
    <label id="id_14240147_3421741_1_1" xlink:label="ifrs-full_OtherReservesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other reserves [member]</label>
    <label id="id_14240147_3421741_2_1" xlink:label="ifrs-full_OtherReservesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other reserves [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_OtherReservesMember" xlink:to="ifrs-full_OtherReservesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OtherRevenue" xlink:label="ifrs-full_OtherRevenue" xlink:type="locator"/>
    <label id="id_14240147_3422416_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_14240147_3422416_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-20181231.xsd#fmx_OtherRevenueMember" xlink:label="fmx_OtherRevenueMember" xlink:type="locator"/>
    <label id="id_14240147_3481422_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_14240147_3481422_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_14240147_3481422_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-20181231.xsd#fmx_OtherRevenueOnExchangeDifferencesOnTranslation" xlink:label="fmx_OtherRevenueOnExchangeDifferencesOnTranslation" xlink:type="locator"/>
    <label id="id_14240147_3450707_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_14240147_3450707_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_14240147_3450707_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-20181231.xsd#fmx_OthersMember" xlink:label="fmx_OthersMember" xlink:type="locator"/>
    <label id="id_14240147_3478952_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_14240147_3478952_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_14240147_3478952_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-20181231.xsd#fmx_OthersProvisionsAndOtherLongTermLiabilities" xlink:label="fmx_OthersProvisionsAndOtherLongTermLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3437371_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_14240147_3437371_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_14240147_3437371_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-20181231.xsd#fmx_OtherStockMember" xlink:label="fmx_OtherStockMember" xlink:type="locator"/>
    <label id="id_14240147_3541755_3_1" xlink:label="fmx_OtherStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Other stock.</label>
    <label id="id_14240147_3541755_1_1" xlink:label="fmx_OtherStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Other stock [member]</label>
    <label id="id_14240147_3541755_2_1" xlink:label="fmx_OtherStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Other stock [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_OtherStockMember" xlink:to="fmx_OtherStockMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_OtherSubsidiariesMember" xlink:label="fmx_OtherSubsidiariesMember" xlink:type="locator"/>
    <label id="id_14240147_3476198_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_14240147_3476198_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_14240147_3476198_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-20181231.xsd#fmx_OtherTaxAuthorityMember" xlink:label="fmx_OtherTaxAuthorityMember" xlink:type="locator"/>
    <label id="id_14240147_3489748_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_14240147_3489748_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_14240147_3489748_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:label="ifrs-full_OutstandingBalancesForRelatedPartyTransactionsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3422572_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_14240147_3422572_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_14240147_3421746_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_14240147_3421746_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-20181231.xsd#fmx_ParanaMember" xlink:label="fmx_ParanaMember" xlink:type="locator"/>
    <label id="id_14240147_3482077_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_14240147_3482077_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_14240147_3482077_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParentMember" xlink:label="ifrs-full_ParentMember" xlink:type="locator"/>
    <label id="id_14240147_3422124_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_14240147_3422124_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ParValuePerShare" xlink:label="ifrs-full_ParValuePerShare" xlink:type="locator"/>
    <label id="id_14240147_3422421_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_14240147_3422421_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_14240147_3422421_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PastDueStatusAxis" xlink:label="ifrs-full_PastDueStatusAxis" xlink:type="locator"/>
    <label id="id_14240147_3421750_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_14240147_3421750_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PastDueStatusMember" xlink:label="ifrs-full_PastDueStatusMember" xlink:type="locator"/>
    <label id="id_14240147_3422574_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_14240147_3422574_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_PastServiceCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3422423_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_14240147_3422423_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-20181231.xsd#fmx_PaymentForAcquisitionOfNoncontrollingInterest" xlink:label="fmx_PaymentForAcquisitionOfNoncontrollingInterest" xlink:type="locator"/>
    <label id="id_14240147_3463955_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_14240147_3463955_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_14240147_3463955_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.sec.gov/country/2017/country-2017-01-31.xsd#country_PE" xlink:label="country_PE" xlink:type="locator"/>
    <label id="id_14240147_3422586_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_14240147_3422586_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_PEN" xlink:label="currency_PEN" xlink:type="locator"/>
    <label id="id_14240147_3422588_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_14240147_3422588_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-20181231.xsd#fmx_PensionAndRetirementPlansMember" xlink:label="fmx_PensionAndRetirementPlansMember" xlink:type="locator"/>
    <label id="id_14240147_3501765_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_14240147_3501765_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_14240147_3501765_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-20181231.xsd#fmx_PercentageOfAnnualBonus" xlink:label="fmx_PercentageOfAnnualBonus" xlink:type="locator"/>
    <label id="id_14240147_3523718_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_14240147_3523718_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_14240147_3523718_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-20181231.xsd#fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales" xlink:type="locator"/>
    <label id="id_14240147_3554169_3_1" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales_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 over net sales.</label>
    <label id="id_14240147_3554169_1_1" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales_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 Over Net sales</label>
    <label id="id_14240147_3554169_2_1" xlink:label="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales_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</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales" xlink:to="fmx_PercentageOfAverageFederalProductionAndFederalSalesTaxOverNetSales_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfBonus" xlink:label="fmx_PercentageOfBonus" xlink:type="locator"/>
    <label id="id_14240147_3523717_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_14240147_3523717_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_14240147_3523717_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-20181231.xsd#fmx_PercentageOfBonusBasedOnEconomicValueAdded" xlink:label="fmx_PercentageOfBonusBasedOnEconomicValueAdded" xlink:type="locator"/>
    <label id="id_14240147_3523719_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_14240147_3523719_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_14240147_3523719_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-20181231.xsd#fmx_PercentageOfCapitalGainTaxRate" xlink:label="fmx_PercentageOfCapitalGainTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3554148_3_1" xlink:label="fmx_PercentageOfCapitalGainTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of Capital GainTax Rate</label>
    <label id="id_14240147_3554148_1_1" xlink:label="fmx_PercentageOfCapitalGainTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Capital GainTax Rate</label>
    <label id="id_14240147_3554148_2_1" xlink:label="fmx_PercentageOfCapitalGainTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of capital gains</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfCapitalGainTaxRate" xlink:to="fmx_PercentageOfCapitalGainTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfCapitalStock" xlink:label="fmx_PercentageOfCapitalStock" xlink:type="locator"/>
    <label id="id_14240147_3527436_3_1" xlink:label="fmx_PercentageOfCapitalStock_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of capital stock.</label>
    <label id="id_14240147_3527436_1_1" xlink:label="fmx_PercentageOfCapitalStock_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage Of Capital Stock</label>
    <label id="id_14240147_3527436_2_1" xlink:label="fmx_PercentageOfCapitalStock_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">% of the capital stock</label>
    <label id="id_14240147_3527436_12_1" xlink:label="fmx_PercentageOfCapitalStock_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percentage of capital stock</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfCapitalStock" xlink:to="fmx_PercentageOfCapitalStock_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfContributionToPovertyEradication" xlink:label="fmx_PercentageOfContributionToPovertyEradication" xlink:type="locator"/>
    <label id="id_14240147_3526615_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_14240147_3526615_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_14240147_3526615_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-20181231.xsd#fmx_PercentageOfContributionToPovertyEradicationChargedOnSales" xlink:label="fmx_PercentageOfContributionToPovertyEradicationChargedOnSales" xlink:type="locator"/>
    <label id="id_14240147_3526616_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_14240147_3526616_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_14240147_3526616_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-20181231.xsd#fmx_PercentageOfDifferencesBetweenStatutoryTaxRate" xlink:label="fmx_PercentageOfDifferencesBetweenStatutoryTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523776_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_14240147_3523776_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_14240147_3523776_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-20181231.xsd#fmx_PercentageOfDividendPaid" xlink:label="fmx_PercentageOfDividendPaid" xlink:type="locator"/>
    <label id="id_14240147_3523742_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_14240147_3523742_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_14240147_3523742_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-20181231.xsd#fmx_PercentageOfDividendPayables" xlink:label="fmx_PercentageOfDividendPayables" xlink:type="locator"/>
    <label id="id_14240147_3523756_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_14240147_3523756_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_14240147_3523756_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-20181231.xsd#fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding" xlink:label="fmx_PercentageOfDividendReceivedFromColombianNonResidentsWithholding" xlink:type="locator"/>
    <label id="id_14240147_3524692_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_14240147_3524692_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_14240147_3524692_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-20181231.xsd#fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding" xlink:label="fmx_PercentageOfDividendReceivedFromColombianResidentsWithholding" xlink:type="locator"/>
    <label id="id_14240147_3523784_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_14240147_3523784_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_14240147_3523784_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-20181231.xsd#fmx_PercentageOfDividendRightsToBePaid" xlink:label="fmx_PercentageOfDividendRightsToBePaid" xlink:type="locator"/>
    <label id="id_14240147_3529510_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_14240147_3529510_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_14240147_3529510_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-20181231.xsd#fmx_PercentageOfDomesticTaxRate" xlink:label="fmx_PercentageOfDomesticTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523783_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_14240147_3523783_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_14240147_3523783_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-20181231.xsd#fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw" xlink:label="fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw" xlink:type="locator"/>
    <label id="id_14240147_3554170_3_1" xlink:label="fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of effect of changes in Argentina tax law.</label>
    <label id="id_14240147_3554170_1_1" xlink:label="fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of Effect of Changes in Argentina Tax Law</label>
    <label id="id_14240147_3554170_2_1" xlink:label="fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Effect of changes in Argentina tax law</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw" xlink:to="fmx_PercentageOfEffectOfChangesInArgentinaTaxLaw_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfFinancialInstrumentsOutOfMoney" xlink:label="fmx_PercentageOfFinancialInstrumentsOutOfMoney" xlink:type="locator"/>
    <label id="id_14240147_3525046_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_14240147_3525046_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_14240147_3525046_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-20181231.xsd#fmx_PercentageOfFundAssets" xlink:label="fmx_PercentageOfFundAssets" xlink:type="locator"/>
    <label id="id_14240147_3524891_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_14240147_3524891_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_14240147_3524891_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-20181231.xsd#fmx_PercentageOfIncomeTaxRate" xlink:label="fmx_PercentageOfIncomeTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523791_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_14240147_3523791_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_14240147_3523791_2_1" xlink:label="fmx_PercentageOfIncomeTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">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-20181231.xsd#fmx_PercentageOfIncreaseInExciseTaxRate" xlink:label="fmx_PercentageOfIncreaseInExciseTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3554158_3_1" xlink:label="fmx_PercentageOfIncreaseInExciseTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of increase in Excise tax rate</label>
    <label id="id_14240147_3554158_1_1" xlink:label="fmx_PercentageOfIncreaseInExciseTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of increase in Excise tax rate</label>
    <label id="id_14240147_3554158_2_1" xlink:label="fmx_PercentageOfIncreaseInExciseTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of increase in excise tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfIncreaseInExciseTaxRate" xlink:to="fmx_PercentageOfIncreaseInExciseTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfIncreaseInIncomeTaxRate" xlink:label="fmx_PercentageOfIncreaseInIncomeTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523785_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_14240147_3523785_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_14240147_3523785_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-20181231.xsd#fmx_PercentageOfIncreaseInValueAddedTaxRate" xlink:label="fmx_PercentageOfIncreaseInValueAddedTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523786_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_14240147_3523786_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_14240147_3523786_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-20181231.xsd#fmx_PercentageOfInterestsDivestedInAssociate" xlink:label="fmx_PercentageOfInterestsDivestedInAssociate" xlink:type="locator"/>
    <label id="id_14240147_3528075_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_14240147_3528075_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_14240147_3528075_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-20181231.xsd#fmx_PercentageOfNonDeductibleExpenses" xlink:label="fmx_PercentageOfNonDeductibleExpenses" xlink:type="locator"/>
    <label id="id_14240147_3523777_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_14240147_3523777_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_14240147_3523777_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-20181231.xsd#fmx_PercentageOfOrdinaryShareWithFullVotingRights" xlink:label="fmx_PercentageOfOrdinaryShareWithFullVotingRights" xlink:type="locator"/>
    <label id="id_14240147_3554080_3_1" xlink:label="fmx_PercentageOfOrdinaryShareWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of ordinary share with full voting rights.</label>
    <label id="id_14240147_3554080_1_1" xlink:label="fmx_PercentageOfOrdinaryShareWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of ordinary share with full voting rights</label>
    <label id="id_14240147_3554080_2_1" xlink:label="fmx_PercentageOfOrdinaryShareWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">% of ordinary shares with full voting rights</label>
    <label id="id_14240147_3554080_12_1" xlink:label="fmx_PercentageOfOrdinaryShareWithFullVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">% of rdinary shares with full voting rights</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfOrdinaryShareWithFullVotingRights" xlink:to="fmx_PercentageOfOrdinaryShareWithFullVotingRights_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfOrdinaryShareWithLimitedVotingRights" xlink:label="fmx_PercentageOfOrdinaryShareWithLimitedVotingRights" xlink:type="locator"/>
    <label id="id_14240147_3554091_3_1" xlink:label="fmx_PercentageOfOrdinaryShareWithLimitedVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of ordinary share with limited voting rights.</label>
    <label id="id_14240147_3554091_1_1" xlink:label="fmx_PercentageOfOrdinaryShareWithLimitedVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of ordinary share with limited voting rights</label>
    <label id="id_14240147_3554091_2_1" xlink:label="fmx_PercentageOfOrdinaryShareWithLimitedVotingRights_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of capital stock</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfOrdinaryShareWithLimitedVotingRights" xlink:to="fmx_PercentageOfOrdinaryShareWithLimitedVotingRights_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfOtherTaxRate" xlink:label="fmx_PercentageOfOtherTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523782_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_14240147_3523782_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_14240147_3523782_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-20181231.xsd#fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies" xlink:label="fmx_PercentageOfOutstandingConsolidatedIndebtednessInSubHoldingCompanies" xlink:type="locator"/>
    <label id="id_14240147_3524689_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_14240147_3524689_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_14240147_3524689_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-20181231.xsd#fmx_PercentageOfOwnershipInterest" xlink:label="fmx_PercentageOfOwnershipInterest" xlink:type="locator"/>
    <label id="id_14240147_3531211_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_14240147_3531211_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_14240147_3531211_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-20181231.xsd#fmx_PercentageOfPlanAssetInvestmentForRelatedParties" xlink:label="fmx_PercentageOfPlanAssetInvestmentForRelatedParties" xlink:type="locator"/>
    <label id="id_14240147_3524889_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_14240147_3524889_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_14240147_3524889_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="fmx-20181231.xsd#fmx_PercentageOfPortfolioMaintainedInRetainedEarnings" xlink:label="fmx_PercentageOfPortfolioMaintainedInRetainedEarnings" xlink:type="locator"/>
    <label id="id_14240147_3541712_3_1" xlink:label="fmx_PercentageOfPortfolioMaintainedInRetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of portfolio maintained in retained earnings.</label>
    <label id="id_14240147_3541712_1_1" xlink:label="fmx_PercentageOfPortfolioMaintainedInRetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of portfolio maintained in retained earnings</label>
    <label id="id_14240147_3541712_2_1" xlink:label="fmx_PercentageOfPortfolioMaintainedInRetainedEarnings_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total portfolio maintained in retained earnings</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfPortfolioMaintainedInRetainedEarnings" xlink:to="fmx_PercentageOfPortfolioMaintainedInRetainedEarnings_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:label="ifrs-full_PercentageOfReasonablyPossibleIncreaseInActuarialAssumption" xlink:type="locator"/>
    <label id="id_14240147_3422592_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_14240147_3422592_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-20181231.xsd#fmx_PercentageOfReductionInExciseTaxRate" xlink:label="fmx_PercentageOfReductionInExciseTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3554157_3_1" xlink:label="fmx_PercentageOfReductionInExciseTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of reduction in Excise tax rate</label>
    <label id="id_14240147_3554157_1_1" xlink:label="fmx_PercentageOfReductionInExciseTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of reduction in Excise tax rate</label>
    <label id="id_14240147_3554157_2_1" xlink:label="fmx_PercentageOfReductionInExciseTaxRate_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of reduction in excise tax</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfReductionInExciseTaxRate" xlink:to="fmx_PercentageOfReductionInExciseTaxRate_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfReformExtraIncomeTaxRate" xlink:label="fmx_PercentageOfReformExtraIncomeTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523792_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_14240147_3523792_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_14240147_3523792_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-20181231.xsd#fmx_PercentageOfReformIncomeTaxRate" xlink:label="fmx_PercentageOfReformIncomeTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523790_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_14240147_3523790_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_14240147_3523790_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-20181231.xsd#fmx_PercentageOfRightofuseAssets" xlink:label="fmx_PercentageOfRightofuseAssets" xlink:type="locator"/>
    <label id="id_14240147_3541743_3_1" xlink:label="fmx_PercentageOfRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of right-of-use assets.</label>
    <label id="id_14240147_3541743_1_1" xlink:label="fmx_PercentageOfRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of right-of-use assets</label>
    <label id="id_14240147_3541743_2_1" xlink:label="fmx_PercentageOfRightofuseAssets_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of right-of-use assets</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfRightofuseAssets" xlink:to="fmx_PercentageOfRightofuseAssets_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfSpecialIncreaseInIncomeTaxRate" xlink:label="fmx_PercentageOfSpecialIncreaseInIncomeTaxRate" xlink:type="locator"/>
    <label id="id_14240147_3523793_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_14240147_3523793_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_14240147_3523793_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-20181231.xsd#fmx_PercentageOfTaxableNonTaxableIncomeNet" xlink:label="fmx_PercentageOfTaxableNonTaxableIncomeNet" xlink:type="locator"/>
    <label id="id_14240147_3523778_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_14240147_3523778_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_14240147_3523778_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-20181231.xsd#fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects" xlink:label="fmx_PercentageOfTaxEffectFromDifferenceBetweenBookAndTaxInflationaryValuesAndTranslationEffects" xlink:type="locator"/>
    <label id="id_14240147_3526704_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_14240147_3526704_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_14240147_3526704_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-20181231.xsd#fmx_PercentageOfTaxEffectOfIncomeTaxCredits" xlink:label="fmx_PercentageOfTaxEffectOfIncomeTaxCredits" xlink:type="locator"/>
    <label id="id_14240147_3529903_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_14240147_3529903_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_14240147_3529903_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-20181231.xsd#fmx_PercentageOfTaxRateThatExceedsEBITDA" xlink:label="fmx_PercentageOfTaxRateThatExceedsEBITDA" xlink:type="locator"/>
    <label id="id_14240147_3554178_3_1" xlink:label="fmx_PercentageOfTaxRateThatExceedsEBITDA_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of tax rate that exceeds EBITDA</label>
    <label id="id_14240147_3554178_1_1" xlink:label="fmx_PercentageOfTaxRateThatExceedsEBITDA_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of tax rate that exceeds EBITDA</label>
    <label id="id_14240147_3554178_2_1" xlink:label="fmx_PercentageOfTaxRateThatExceedsEBITDA_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of tax rate that exceeds EBITDA</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfTaxRateThatExceedsEBITDA" xlink:to="fmx_PercentageOfTaxRateThatExceedsEBITDA_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfUnitOfInvestment" xlink:label="fmx_PercentageOfUnitOfInvestment" xlink:type="locator"/>
    <label id="id_14240147_3524655_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_14240147_3524655_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_14240147_3524655_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-20181231.xsd#fmx_PercentageOfUnrecoverableTradeAccountsReceivables" xlink:label="fmx_PercentageOfUnrecoverableTradeAccountsReceivables" xlink:type="locator"/>
    <label id="id_14240147_3541715_3_1" xlink:label="fmx_PercentageOfUnrecoverableTradeAccountsReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of unrecoverable trade accounts receivables.</label>
    <label id="id_14240147_3541715_1_1" xlink:label="fmx_PercentageOfUnrecoverableTradeAccountsReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of unrecoverable trade accounts receivables</label>
    <label id="id_14240147_3541715_2_1" xlink:label="fmx_PercentageOfUnrecoverableTradeAccountsReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of unrecoverable trade accounts receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfUnrecoverableTradeAccountsReceivables" xlink:to="fmx_PercentageOfUnrecoverableTradeAccountsReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfVenezuelaDesconsolidationEffect" xlink:label="fmx_PercentageOfVenezuelaDesconsolidationEffect" xlink:type="locator"/>
    <label id="id_14240147_3528699_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_14240147_3528699_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_14240147_3528699_2_1" xlink:label="fmx_PercentageOfVenezuelaDesconsolidationEffect_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_PercentageOfVenezuelaDesconsolidationEffect" xlink:to="fmx_PercentageOfVenezuelaDesconsolidationEffect_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired" xlink:type="locator"/>
    <label id="id_14240147_3422429_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_14240147_3422429_32_1" xlink:label="ifrs-full_PercentageOfVotingEquityInterestsAcquired_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Percentage of stake acquired</label>
    <label id="id_14240147_3422429_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_14240147_3422429_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-20181231.xsd#fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees" xlink:label="fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees" xlink:type="locator"/>
    <label id="id_14240147_3554152_3_1" xlink:label="fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of withholding taxes on compensations of employees</label>
    <label id="id_14240147_3554152_1_1" xlink:label="fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of withholding taxes on compensations of employees</label>
    <label id="id_14240147_3554152_2_1" xlink:label="fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of withholding taxes on compensations of employees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees" xlink:to="fmx_PercentageOfWithholdingTaxesOnCompensationsOfEmployees_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees" xlink:label="fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees" xlink:type="locator"/>
    <label id="id_14240147_3554388_3_1" xlink:label="fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Percentage of withholding taxes on salaries of employees.</label>
    <label id="id_14240147_3554388_1_1" xlink:label="fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Percentage of withholding taxes on salaries of employees</label>
    <label id="id_14240147_3554388_2_1" xlink:label="fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Percentage of withholding taxes on salaries of employees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees" xlink:to="fmx_PercentageOfWithholdingTaxesOnSalariesOfEmployees_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PETBottlesMember" xlink:label="fmx_PETBottlesMember" xlink:type="locator"/>
    <label id="id_14240147_3502612_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_14240147_3502612_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_14240147_3502612_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_14240147_3422595_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_14240147_3422595_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_PHP" xlink:label="currency_PHP" xlink:type="locator"/>
    <label id="id_14240147_3422137_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_14240147_3422137_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PlanAssetsMember" xlink:label="ifrs-full_PlanAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3422437_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_14240147_3422437_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-20181231.xsd#fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember" xlink:label="fmx_PostEmploymentAndOtherLongTermEmployeeBenefitsMember" xlink:type="locator"/>
    <label id="id_14240147_3480535_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_14240147_3480535_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_14240147_3480535_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:label="ifrs-full_PostemploymentBenefitExpenseDefinedBenefitPlans" xlink:type="locator"/>
    <label id="id_14240147_3421770_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_14240147_3421770_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember" xlink:label="ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember" xlink:type="locator"/>
    <label id="id_14240147_3422143_1_1" xlink:label="ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Post-employment medical defined benefit plans [member]</label>
    <label id="id_14240147_3422143_2_1" xlink:label="ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember_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="ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember" xlink:to="ifrs-full_PostemploymentMedicalDefinedBenefitPlansMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PostEmploymentPlanMember" xlink:label="fmx_PostEmploymentPlanMember" xlink:type="locator"/>
    <label id="id_14240147_3477393_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_14240147_3477393_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_14240147_3477393_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-20181231.xsd#fmx_PostRetirementMedicalServicesMember" xlink:label="fmx_PostRetirementMedicalServicesMember" xlink:type="locator"/>
    <label id="id_14240147_3541584_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_14240147_3541584_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_14240147_3541584_2_1" xlink:label="fmx_PostRetirementMedicalServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Post retirement 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-20181231.xsd#fmx_PrepaidAdvertisingAndPromotionalExpenses" xlink:label="fmx_PrepaidAdvertisingAndPromotionalExpenses" xlink:type="locator"/>
    <label id="id_14240147_3441309_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_14240147_3441309_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_14240147_3441309_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-20181231.xsd#fmx_PrepaidInsurance1" xlink:label="fmx_PrepaidInsurance1" xlink:type="locator"/>
    <label id="id_14240147_3433342_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_14240147_3433342_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_14240147_3433342_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-20181231.xsd#fmx_PrepaidLeases" xlink:label="fmx_PrepaidLeases" xlink:type="locator"/>
    <label id="id_14240147_3437099_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_14240147_3437099_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_14240147_3437099_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:label="ifrs-full_PresentValueOfDefinedBenefitObligationMember" xlink:type="locator"/>
    <label id="id_14240147_3422145_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_14240147_3422145_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:label="ifrs-full_ProceedsFromBorrowingsClassifiedAsFinancingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422615_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_14240147_3422615_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="fmx-20181231.xsd#fmx_ProceedsFromDisposalOfBusiness" xlink:label="fmx_ProceedsFromDisposalOfBusiness" xlink:type="locator"/>
    <label id="id_14240147_3433412_3_1" xlink:label="fmx_ProceedsFromDisposalOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proceeds from disposal of business.</label>
    <label id="id_14240147_3433412_1_1" xlink:label="fmx_ProceedsFromDisposalOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from disposal of business</label>
    <label id="id_14240147_3433412_2_1" xlink:label="fmx_ProceedsFromDisposalOfBusiness_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of Coca-Cola FEMSA Philippines, Inc</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProceedsFromDisposalOfBusiness" xlink:to="fmx_ProceedsFromDisposalOfBusiness_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:label="fmx_ProceedsFromOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3437127_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_14240147_3437127_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_14240147_3437127_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>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422453_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_14240147_3422453_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-20181231.xsd#fmx_ProceedsFromPartialDisposalOfInvestment" xlink:label="fmx_ProceedsFromPartialDisposalOfInvestment" xlink:type="locator"/>
    <label id="id_14240147_3463953_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_14240147_3463953_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_14240147_3463953_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>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentProperty" xlink:type="locator"/>
    <label id="id_14240147_3422618_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_14240147_3422618_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3421786_1_1" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proceeds from sales of investments accounted for using equity method</label>
    <label id="id_14240147_3421786_2_1" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_ProceedsFromSalesOfInvestmentsAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3423105_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>
    <label id="id_14240147_3423105_2_1" xlink:label="ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Proceeds from investments</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:to="ifrs-full_ProceedsFromSalesOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3421787_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_14240147_3421787_2_1" xlink:label="ifrs-full_ProceedsFromSalesOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Disposal 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProductsAndServicesAxis" xlink:label="ifrs-full_ProductsAndServicesAxis" xlink:type="locator"/>
    <label id="id_14240147_3422620_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_14240147_3422620_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProductsAndServicesMember" xlink:label="ifrs-full_ProductsAndServicesMember" xlink:type="locator"/>
    <label id="id_14240147_3423108_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_14240147_3423108_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLoss" xlink:label="ifrs-full_ProfitLoss" xlink:type="locator"/>
    <label id="id_14240147_3423110_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_14240147_3423110_32_1" xlink:label="ifrs-full_ProfitLoss_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">CONSOLIDATED NET INCOME</label>
    <label id="id_14240147_3423110_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_14240147_3423110_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_14240147_3423110_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent" xlink:type="locator"/>
    <label id="id_14240147_3421790_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_14240147_3421790_2_1" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Net income attributable to equity holders</label>
    <label id="id_14240147_3421790_6_1" xlink:label="ifrs-full_ProfitLossAttributableToOwnersOfParent_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Controlling interest in discontinued operations</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossBeforeTax" xlink:label="ifrs-full_ProfitLossBeforeTax" xlink:type="locator"/>
    <label id="id_14240147_3422161_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_14240147_3422161_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>
    <label id="id_14240147_3422161_6_1" xlink:label="ifrs-full_ProfitLossBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" 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="fmx-20181231.xsd#fmx_ProfitLossBeforeTaxContinuedOperations" xlink:label="fmx_ProfitLossBeforeTaxContinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3458417_3_1" xlink:label="fmx_ProfitLossBeforeTaxContinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Profit loss before tax continued operations.</label>
    <label id="id_14240147_3458417_1_1" xlink:label="fmx_ProfitLossBeforeTaxContinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit Loss Before Tax Continued Operations</label>
    <label id="id_14240147_3458417_2_1" xlink:label="fmx_ProfitLossBeforeTaxContinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes from continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProfitLossBeforeTaxContinuedOperations" xlink:to="fmx_ProfitLossBeforeTaxContinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ProfitLossBeforeTaxDiscontinuedOperations1" xlink:label="fmx_ProfitLossBeforeTaxDiscontinuedOperations1" xlink:type="locator"/>
    <label id="id_14240147_3532087_3_1" xlink:label="fmx_ProfitLossBeforeTaxDiscontinuedOperations1_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Profit Loss Before Tax Discontinued Operations1</label>
    <label id="id_14240147_3532087_1_1" xlink:label="fmx_ProfitLossBeforeTaxDiscontinuedOperations1_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit Loss Before Tax Discontinued Operations1</label>
    <label id="id_14240147_3532087_2_1" xlink:label="fmx_ProfitLossBeforeTaxDiscontinuedOperations1_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income before income taxes from discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProfitLossBeforeTaxDiscontinuedOperations1" xlink:to="fmx_ProfitLossBeforeTaxDiscontinuedOperations1_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromContinuingOperations" xlink:label="ifrs-full_ProfitLossFromContinuingOperations" xlink:type="locator"/>
    <label id="id_14240147_3422163_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_14240147_3422163_32_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Net income from continuing operations</label>
    <label id="id_14240147_3422163_2_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated net (loss) income for continuing operations</label>
    <label id="id_14240147_3422163_6_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Net income from continuing operations</label>
    <label id="id_14240147_3422163_12_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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_ProfitLossFromContinuingOperations" xlink:to="ifrs-full_ProfitLossFromContinuingOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromContinuingOperationsAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossFromContinuingOperationsAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3422164_1_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperationsAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from continuing operations attributable to non-controlling interests</label>
    <label id="id_14240147_3422164_2_1" xlink:label="ifrs-full_ProfitLossFromContinuingOperationsAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest from continuing operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromContinuingOperationsAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossFromContinuingOperationsAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3422166_1_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from discontinued operations</label>
    <label id="id_14240147_3422166_32_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Net income from discontinued operations</label>
    <label id="id_14240147_3422166_2_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated net income from discontinued operations</label>
    <label id="id_14240147_3422166_12_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Net income for discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperations" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3423115_1_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Profit (loss) from discontinued operations attributable to non-controlling interests</label>
    <label id="id_14240147_3423115_2_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest from discontinued operations</label>
    <label id="id_14240147_3423115_14_1" xlink:label="ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:type="resource" xml:lang="en-US">Less: non-controlling interest in discontinued operations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests" xlink:to="ifrs-full_ProfitLossFromDiscontinuedOperationsAttributableToNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest" xlink:label="fmx_ProfitLossFromRemeasurementOfPreviouslyEquityInterest" xlink:type="locator"/>
    <label id="id_14240147_3461516_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_14240147_3461516_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_14240147_3461516_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossOfAcquiree" xlink:label="ifrs-full_ProfitLossOfAcquiree" xlink:type="locator"/>
    <label id="id_14240147_3423117_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_14240147_3423117_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProfitLossOfCombinedEntity" xlink:label="ifrs-full_ProfitLossOfCombinedEntity" xlink:type="locator"/>
    <label id="id_14240147_3422169_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_14240147_3422169_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-20181231.xsd#fmx_ProfitSharingComputationPercentageOnTaxableIncome" xlink:label="fmx_ProfitSharingComputationPercentageOnTaxableIncome" xlink:type="locator"/>
    <label id="id_14240147_3524879_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_14240147_3524879_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_14240147_3524879_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-20181231.xsd#fmx_PromissoryNotesMaturityPeriod" xlink:label="fmx_PromissoryNotesMaturityPeriod" xlink:type="locator"/>
    <label id="id_14240147_3472410_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_14240147_3472410_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_14240147_3472410_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-20181231.xsd#fmx_PromissoryNotesMember" xlink:label="fmx_PromissoryNotesMember" xlink:type="locator"/>
    <label id="id_14240147_3480111_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_14240147_3480111_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_14240147_3480111_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-20181231.xsd#fmx_PromotoraIndustrialAzucareraSAdeCVMember" xlink:label="fmx_PromotoraIndustrialAzucareraSAdeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3485225_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_14240147_3485225_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_14240147_3485225_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-20181231.xsd#fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember" xlink:label="fmx_PromotoraIndustrialAzucareraSADeCVPIASAMember" xlink:type="locator"/>
    <label id="id_14240147_3501792_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_14240147_3501792_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_14240147_3501792_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-20181231.xsd#fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember" xlink:label="fmx_PromotoraMexicanaDeEmbotelladoresSADeCVMember" xlink:type="locator"/>
    <label id="id_14240147_3502630_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_14240147_3502630_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_14240147_3502630_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipment" xlink:label="ifrs-full_PropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3423123_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_14240147_3423123_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_14240147_3423123_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_14240147_3423123_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-20181231.xsd#fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember" xlink:label="fmx_PropertyPlantAndEquipmentAndIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3478892_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_14240147_3478892_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_14240147_3478892_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentMember" xlink:label="ifrs-full_PropertyPlantAndEquipmentMember" xlink:type="locator"/>
    <label id="id_14240147_3422628_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_14240147_3422628_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_PropertyPlantAndEquipmentRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3422173_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_14240147_3422173_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:label="ifrs-full_ProportionOfOwnershipInterestInAssociate" xlink:type="locator"/>
    <label id="id_14240147_3422176_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_14240147_3422176_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_14240147_3422176_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_14240147_3422176_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:label="ifrs-full_ProportionOfOwnershipInterestInJointVenture" xlink:type="locator"/>
    <label id="id_14240147_3423135_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_14240147_3423135_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_14240147_3423135_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-20181231.xsd#fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired" xlink:label="fmx_ProportionOfOwnershipInterestInJointVentureToBeAcquired" xlink:type="locator"/>
    <label id="id_14240147_3523934_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_14240147_3523934_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_14240147_3523934_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary" xlink:type="locator"/>
    <label id="id_14240147_3422633_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_14240147_3422633_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_14240147_3422633_2_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Business acquisition, percentage of ownership interest of subsidiary</label>
    <label id="id_14240147_3422633_12_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestInSubsidiary_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Percent of ownership 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3422634_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_14240147_3422634_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>
    <label id="id_14240147_3422634_12_1" xlink:label="ifrs-full_ProportionOfOwnershipInterestsHeldByNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:type="resource" xml:lang="en-US">Non-controlling interest rate</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-20181231.xsd#fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests" xlink:label="fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests" xlink:type="locator"/>
    <label id="id_14240147_3554047_3_1" xlink:label="fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proportion of ownership interests not held by non-controlling interests</label>
    <label id="id_14240147_3554047_1_1" xlink:label="fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proportion of ownership interests not held by non-controlling interests</label>
    <label id="id_14240147_3554047_2_1" xlink:label="fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Interest not held by non controlling interest</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests" xlink:to="fmx_ProportionOfOwnershipInterestsNotHeldByNoncontrollingInterests_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ProportionOfOwnershipInterestSold" xlink:label="fmx_ProportionOfOwnershipInterestSold" xlink:type="locator"/>
    <label id="id_14240147_3527153_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_14240147_3527153_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_14240147_3527153_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:label="ifrs-full_ProportionOfVotingPowerHeldInSubsidiary" xlink:type="locator"/>
    <label id="id_14240147_3423137_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_14240147_3423137_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Provisions" xlink:label="ifrs-full_Provisions" xlink:type="locator"/>
    <label id="id_14240147_3423145_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_14240147_3423145_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 period</label>
    <label id="id_14240147_3423145_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 period</label>
    <label id="id_14240147_3423145_2_1" xlink:label="ifrs-full_Provisions_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingencies</label>
    <label id="id_14240147_3423145_12_1" xlink:label="ifrs-full_Provisions_lbl" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" 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-20181231.xsd#fmx_ProvisionsAndOtherLongTermLiabilities" xlink:label="fmx_ProvisionsAndOtherLongTermLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3437372_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_14240147_3437372_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_14240147_3437372_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-20181231.xsd#fmx_ProvisionsForContingencies" xlink:label="fmx_ProvisionsForContingencies" xlink:type="locator"/>
    <label id="id_14240147_3436355_3_1" xlink:label="fmx_ProvisionsForContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Provisions for contingencies.</label>
    <label id="id_14240147_3436355_1_1" xlink:label="fmx_ProvisionsForContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Provisions For Contingencies</label>
    <label id="id_14240147_3436355_2_1" xlink:label="fmx_ProvisionsForContingencies_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Contingencies</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProvisionsForContingencies" xlink:to="fmx_ProvisionsForContingencies_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ProvisionsMember" xlink:label="fmx_ProvisionsMember" xlink:type="locator"/>
    <label id="id_14240147_3476723_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_14240147_3476723_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_14240147_3476723_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-20181231.xsd#fmx_ProximityDivisionMember" xlink:label="fmx_ProximityDivisionMember" xlink:type="locator"/>
    <label id="id_14240147_3541678_3_1" xlink:label="fmx_ProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Proximity division [member]</label>
    <label id="id_14240147_3541678_1_1" xlink:label="fmx_ProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Proximity division [member]</label>
    <label id="id_14240147_3541678_2_1" xlink:label="fmx_ProximityDivisionMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">FEMSA Comercio - Proximity Division [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_ProximityDivisionMember" xlink:to="fmx_ProximityDivisionMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PubliclyTradedSharesMember" xlink:label="fmx_PubliclyTradedSharesMember" xlink:type="locator"/>
    <label id="id_14240147_3531695_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_14240147_3531695_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_14240147_3531695_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchasedCallOptionsMember" xlink:label="ifrs-full_PurchasedCallOptionsMember" xlink:type="locator"/>
    <label id="id_14240147_3422652_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_14240147_3422652_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfFinancialInstrumentsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422686_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_14240147_3422686_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfIntangibleAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3423149_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_14240147_3423149_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:label="ifrs-full_PurchaseOfInvestmentsOtherThanInvestmentsAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3422655_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_14240147_3422655_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-20181231.xsd#fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:label="fmx_PurchaseOfOtherFinancialAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3437145_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_14240147_3437145_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_14240147_3437145_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfOtherLongtermAssetsClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422657_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_14240147_3422657_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:label="ifrs-full_PurchaseOfPropertyPlantAndEquipmentClassifiedAsInvestingActivities" xlink:type="locator"/>
    <label id="id_14240147_3422688_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_14240147_3422688_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-20181231.xsd#fmx_PurchaseOfRawMaterialThroughForeignCurrency" xlink:label="fmx_PurchaseOfRawMaterialThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_14240147_3443014_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_14240147_3443014_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_14240147_3443014_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="fmx-20181231.xsd#fmx_PurchaseOfStockMember" xlink:label="fmx_PurchaseOfStockMember" xlink:type="locator"/>
    <label id="id_14240147_3541746_3_1" xlink:label="fmx_PurchaseOfStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Purchase of stock.</label>
    <label id="id_14240147_3541746_1_1" xlink:label="fmx_PurchaseOfStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Purchase of stock [member]</label>
    <label id="id_14240147_3541746_2_1" xlink:label="fmx_PurchaseOfStockMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Purchase of stock [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PurchaseOfStockMember" xlink:to="fmx_PurchaseOfStockMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:label="ifrs-full_PurchasesOfGoodsRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3422186_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_14240147_3422186_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-20181231.xsd#fmx_PxMegContractsMember" xlink:label="fmx_PxMegContractsMember" xlink:type="locator"/>
    <label id="id_14240147_3554015_3_1" xlink:label="fmx_PxMegContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PX MEG contracts.</label>
    <label id="id_14240147_3554015_1_1" xlink:label="fmx_PxMegContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PX MEG contracts [member]</label>
    <label id="id_14240147_3554015_2_1" xlink:label="fmx_PxMegContractsMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PX MEG contracts [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PxMegContractsMember" xlink:to="fmx_PxMegContractsMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_PxMegMember" xlink:label="fmx_PxMegMember" xlink:type="locator"/>
    <label id="id_14240147_3554488_3_1" xlink:label="fmx_PxMegMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">PX+MEG.</label>
    <label id="id_14240147_3554488_1_1" xlink:label="fmx_PxMegMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">PX+MEG [member]</label>
    <label id="id_14240147_3554488_2_1" xlink:label="fmx_PxMegMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">PX+MEG [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_PxMegMember" xlink:to="fmx_PxMegMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_QualifyingAssetsCapitalised" xlink:label="fmx_QualifyingAssetsCapitalised" xlink:type="locator"/>
    <label id="id_14240147_3450689_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_14240147_3450689_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_14240147_3450689_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangeAxis" xlink:label="ifrs-full_RangeAxis" xlink:type="locator"/>
    <label id="id_14240147_3422662_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_14240147_3422662_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RangesMember" xlink:label="ifrs-full_RangesMember" xlink:type="locator"/>
    <label id="id_14240147_3422700_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_14240147_3422700_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RawMaterials" xlink:label="ifrs-full_RawMaterials" xlink:type="locator"/>
    <label id="id_14240147_3422665_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_14240147_3422665_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RawMaterialsAndConsumablesUsed" xlink:label="ifrs-full_RawMaterialsAndConsumablesUsed" xlink:type="locator"/>
    <label id="id_14240147_3422702_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_14240147_3422702_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-20181231.xsd#fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:label="fmx_ReattributionFromControllingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:type="locator"/>
    <label id="id_14240147_3463844_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_14240147_3463844_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_14240147_3463844_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-20181231.xsd#fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:label="fmx_ReattributionToNoncontrollingInterestOfOtherComprehensiveIncomeByAcquisition" xlink:type="locator"/>
    <label id="id_14240147_3463842_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_14240147_3463842_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_14240147_3463842_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-20181231.xsd#fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset" xlink:label="fmx_ReclasificationToCertainLiabilityCostNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3441892_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_14240147_3441892_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_14240147_3441892_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-20181231.xsd#fmx_ReclassificationAdjustments" xlink:label="fmx_ReclassificationAdjustments" xlink:type="locator"/>
    <label id="id_14240147_3463920_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_14240147_3463920_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_14240147_3463920_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:label="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:type="locator"/>
    <label id="id_14240147_3423551_1_1" xlink:label="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reclassification adjustments on cash flow hedges, before tax</label>
    <label id="id_14240147_3423551_2_1" xlink:label="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging reserve amount reclassified to profit and loss</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax" xlink:to="ifrs-full_ReclassificationAdjustmentsOnCashFlowHedgesBeforeTax_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_RecognitionOfNoncontrollingInterestUponConsolidation" xlink:label="fmx_RecognitionOfNoncontrollingInterestUponConsolidation" xlink:type="locator"/>
    <label id="id_14240147_3461331_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_14240147_3461331_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_14240147_3461331_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</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract" xlink:label="ifrs-full_ReconciliationOfChangesInAllowanceAccountForCreditLossesOfFinancialAssetsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3422230_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_14240147_3422230_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-20181231.xsd#fmx_RecoverableTaxesFromAcquisition" xlink:label="fmx_RecoverableTaxesFromAcquisition" xlink:type="locator"/>
    <label id="id_14240147_3464012_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_14240147_3464012_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_14240147_3464012_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-20181231.xsd#fmx_RecoveriesFromPreviousYears" xlink:label="fmx_RecoveriesFromPreviousYears" xlink:type="locator"/>
    <label id="id_14240147_3434089_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_14240147_3434089_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_14240147_3434089_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-20181231.xsd#fmx_RecoveriesOfPreviousYears" xlink:label="fmx_RecoveriesOfPreviousYears" xlink:type="locator"/>
    <label id="id_14240147_3556570_3_1" xlink:label="fmx_RecoveriesOfPreviousYears_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Recoveries of previous years.</label>
    <label id="id_14240147_3556570_1_1" xlink:label="fmx_RecoveriesOfPreviousYears_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Recoveries Of Previous Years</label>
    <label id="id_14240147_3556570_2_1" xlink:label="fmx_RecoveriesOfPreviousYears_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Recoveries of prior years</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RecoveriesOfPreviousYears" xlink:to="fmx_RecoveriesOfPreviousYears_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees" xlink:type="locator"/>
    <label id="id_14240147_3541653_3_1" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees_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 equity accounted investees.</label>
    <label id="id_14240147_3541653_1_1" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees_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 equity accounted investees</label>
    <label id="id_14240147_3541653_2_1" xlink:label="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees_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 equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees" xlink:to="fmx_RecyclingFromNetDefinedBenefitLiabilityOnPartialDisposalOfEquityAccountedInvestees_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_RefrigerationEquipmentMember" xlink:label="fmx_RefrigerationEquipmentMember" xlink:type="locator"/>
    <label id="id_14240147_3502761_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_14240147_3502761_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_14240147_3502761_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:label="ifrs-full_RemainingAmortisationPeriodOfIntangibleAssetsMaterialToEntity" xlink:type="locator"/>
    <label id="id_14240147_3422752_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_14240147_3422752_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-20181231.xsd#fmx_RemaningPercentageOfValueAddedTax" xlink:label="fmx_RemaningPercentageOfValueAddedTax" xlink:type="locator"/>
    <label id="id_14240147_3523767_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_14240147_3523767_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_14240147_3523767_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-20181231.xsd#fmx_RemeasurementOfNetDefinedBenefitsLiability" xlink:label="fmx_RemeasurementOfNetDefinedBenefitsLiability" xlink:type="locator"/>
    <label id="id_14240147_3434223_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_14240147_3434223_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_14240147_3434223_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-20181231.xsd#fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability" xlink:label="fmx_RemeasurementOfNetDefinedEmployeeBenefitLiability" xlink:type="locator"/>
    <label id="id_14240147_3441509_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_14240147_3441509_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_14240147_3441509_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RentalExpense" xlink:label="ifrs-full_RentalExpense" xlink:type="locator"/>
    <label id="id_14240147_3423194_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_14240147_3423194_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-20181231.xsd#fmx_RepatriationOfCapitalBenefitDecreePercentage" xlink:label="fmx_RepatriationOfCapitalBenefitDecreePercentage" xlink:type="locator"/>
    <label id="id_14240147_3528678_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_14240147_3528678_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_14240147_3528678_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:label="ifrs-full_RepaymentsOfBondsNotesAndDebentures" xlink:type="locator"/>
    <label id="id_14240147_3423577_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_14240147_3423577_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:label="ifrs-full_RepaymentsOfNoncurrentBorrowings" xlink:type="locator"/>
    <label id="id_14240147_3422894_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_14240147_3422894_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfCashFlowHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedges" xlink:type="locator"/>
    <label id="id_14240147_3423202_1_1" xlink:label="ifrs-full_ReserveOfCashFlowHedges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of cash flow hedges</label>
    <label id="id_14240147_3423202_4_1" xlink:label="ifrs-full_ReserveOfCashFlowHedges_lbl" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:type="resource" xml:lang="en-US">Balances at the end of the period</label>
    <label id="id_14240147_3423202_5_1" xlink:label="ifrs-full_ReserveOfCashFlowHedges_lbl" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:type="resource" xml:lang="en-US">Balances at beginning of the period</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedges" xlink:to="ifrs-full_ReserveOfCashFlowHedges_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:type="locator"/>
    <label id="id_14240147_3422898_1_1" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of cash flow hedges, continuing hedges</label>
    <label id="id_14240147_3422898_2_1" xlink:label="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Cash flow hedge reserve</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges" xlink:to="ifrs-full_ReserveOfCashFlowHedgesContinuingHedges_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfCashFlowHedgesHedgingRelationshipsForWhichHedgeAccountingIsNoLongerApplied" xlink:label="ifrs-full_ReserveOfCashFlowHedgesHedgingRelationshipsForWhichHedgeAccountingIsNoLongerApplied" xlink:type="locator"/>
    <label id="id_14240147_3423584_1_1" xlink:label="ifrs-full_ReserveOfCashFlowHedgesHedgingRelationshipsForWhichHedgeAccountingIsNoLongerApplied_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of cash flow hedges, hedging relationships for which hedge accounting is no longer applied</label>
    <label id="id_14240147_3423584_2_1" xlink:label="ifrs-full_ReserveOfCashFlowHedgesHedgingRelationshipsForWhichHedgeAccountingIsNoLongerApplied_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Remained balances of cash flow hedge reserve from which hedging accounting is not applied</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedgesHedgingRelationshipsForWhichHedgeAccountingIsNoLongerApplied" xlink:to="ifrs-full_ReserveOfCashFlowHedgesHedgingRelationshipsForWhichHedgeAccountingIsNoLongerApplied_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfCashFlowHedgesMember" xlink:label="ifrs-full_ReserveOfCashFlowHedgesMember" xlink:type="locator"/>
    <label id="id_14240147_3422761_1_1" xlink:label="ifrs-full_ReserveOfCashFlowHedgesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserve of cash flow hedges [member]</label>
    <label id="id_14240147_3422761_2_1" xlink:label="ifrs-full_ReserveOfCashFlowHedgesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedging reserve [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReserveOfCashFlowHedgesMember" xlink:to="ifrs-full_ReserveOfCashFlowHedgesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:label="ifrs-full_ReserveOfExchangeDifferencesOnTranslationMember" xlink:type="locator"/>
    <label id="id_14240147_3423592_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_14240147_3423592_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 the translation of foreign operations and equity accounted investees [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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:label="ifrs-full_ReserveOfRemeasurementsOfDefinedBenefitPlansMember" xlink:type="locator"/>
    <label id="id_14240147_3423599_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_14240147_3423599_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReservesWithinEquityAxis" xlink:label="ifrs-full_ReservesWithinEquityAxis" xlink:type="locator"/>
    <label id="id_14240147_3423600_1_1" xlink:label="ifrs-full_ReservesWithinEquityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Reserves within equity [axis]</label>
    <label id="id_14240147_3423600_2_1" xlink:label="ifrs-full_ReservesWithinEquityAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Reserves within equity [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_ReservesWithinEquityAxis" xlink:to="ifrs-full_ReservesWithinEquityAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RestatedMember" xlink:label="ifrs-full_RestatedMember" xlink:type="locator"/>
    <label id="id_14240147_3423218_1_1" xlink:label="ifrs-full_RestatedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Currently stated [member]</label>
    <label id="id_14240147_3423218_2_1" xlink:label="ifrs-full_RestatedMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Currently stated [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RestatedMember" xlink:to="ifrs-full_RestatedMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_RestrictionPeriodForRelatedPartyTransaction" xlink:label="fmx_RestrictionPeriodForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3472334_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_14240147_3472334_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_14240147_3472334_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarnings" xlink:label="ifrs-full_RetainedEarnings" xlink:type="locator"/>
    <label id="id_14240147_3422771_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_14240147_3422771_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetainedEarningsMember" xlink:label="ifrs-full_RetainedEarningsMember" xlink:type="locator"/>
    <label id="id_14240147_3422911_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_14240147_3422911_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-20181231.xsd#fmx_RetainedEarningsOfEquityAccountedInvestees" xlink:label="fmx_RetainedEarningsOfEquityAccountedInvestees" xlink:type="locator"/>
    <label id="id_14240147_3541731_3_1" xlink:label="fmx_RetainedEarningsOfEquityAccountedInvestees_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Retained earnings of equity accounted investees.</label>
    <label id="id_14240147_3541731_1_1" xlink:label="fmx_RetainedEarningsOfEquityAccountedInvestees_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retained earnings of equity accounted investees</label>
    <label id="id_14240147_3541731_2_1" xlink:label="fmx_RetainedEarningsOfEquityAccountedInvestees_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retained earnings of equity accounted investees</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RetainedEarningsOfEquityAccountedInvestees" xlink:to="fmx_RetainedEarningsOfEquityAccountedInvestees_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:type="locator"/>
    <label id="id_14240147_3422913_1_1" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Retrospective application and retrospective restatement [axis]</label>
    <label id="id_14240147_3422913_2_1" xlink:label="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Retrospective application and retrospective restatement [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis" xlink:to="ifrs-full_RetrospectiveApplicationAndRetrospectiveRestatementAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ReturnableBottlesMember" xlink:label="fmx_ReturnableBottlesMember" xlink:type="locator"/>
    <label id="id_14240147_3502762_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_14240147_3502762_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_14240147_3502762_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:label="ifrs-full_ReturnOnPlanAssetsNetDefinedBenefitLiabilityAsset" xlink:type="locator"/>
    <label id="id_14240147_3423607_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 excluding interest income or expense, net defined benefit liability (asset)</label>
    <label id="id_14240147_3423607_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill" xlink:label="ifrs-full_RevaluationIncreaseDecreaseIntangibleAssetsOtherThanGoodwill" xlink:type="locator"/>
    <label id="id_14240147_3423608_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_14240147_3423608_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:label="ifrs-full_RevaluationIncreaseDecreasePropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3423221_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_14240147_3423221_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_Revenue" xlink:label="ifrs-full_Revenue" xlink:type="locator"/>
    <label id="id_14240147_3422778_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_14240147_3422778_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_14240147_3422778_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_14240147_3422778_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueAndOperatingIncome" xlink:label="ifrs-full_RevenueAndOperatingIncome" xlink:type="locator"/>
    <label id="id_14240147_3422779_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_14240147_3422779_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromContractsWithCustomers" xlink:label="ifrs-full_RevenueFromContractsWithCustomers" xlink:type="locator"/>
    <label id="id_14240147_3423224_1_1" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from contracts with customers</label>
    <label id="id_14240147_3423224_2_1" xlink:label="ifrs-full_RevenueFromContractsWithCustomers_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Consolidated revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromContractsWithCustomers" xlink:to="ifrs-full_RevenueFromContractsWithCustomers_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromInterest" xlink:label="ifrs-full_RevenueFromInterest" xlink:type="locator"/>
    <label id="id_14240147_3423613_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_14240147_3423613_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServices" xlink:label="ifrs-full_RevenueFromRenderingOfServices" xlink:type="locator"/>
    <label id="id_14240147_3423621_1_1" xlink:label="ifrs-full_RevenueFromRenderingOfServices_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue from rendering of services</label>
    <label id="id_14240147_3423621_2_1" xlink:label="ifrs-full_RevenueFromRenderingOfServices_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Services revenues</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RevenueFromRenderingOfServices" xlink:to="ifrs-full_RevenueFromRenderingOfServices_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:label="ifrs-full_RevenueFromRenderingOfServicesRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3423227_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_14240147_3423227_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueFromSaleOfGoods" xlink:label="ifrs-full_RevenueFromSaleOfGoods" xlink:type="locator"/>
    <label id="id_14240147_3422922_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_14240147_3422922_32_1" xlink:label="ifrs-full_RevenueFromSaleOfGoods_lbl" xlink:role="http://www.xbrl.org/2003/role/positiveLabel" xlink:type="resource" xml:lang="en-US">Products sold in the point-of-sale</label>
    <label id="id_14240147_3422922_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_14240147_3422922_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="fmx-20181231.xsd#fmx_RevenueMember" xlink:label="fmx_RevenueMember" xlink:type="locator"/>
    <label id="id_14240147_3488113_3_1" xlink:label="fmx_RevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Revenue.</label>
    <label id="id_14240147_3488113_1_1" xlink:label="fmx_RevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Revenue [member]</label>
    <label id="id_14240147_3488113_2_1" xlink:label="fmx_RevenueMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Total revenues [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_RevenueMember" xlink:to="fmx_RevenueMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueOfAcquiree" xlink:label="ifrs-full_RevenueOfAcquiree" xlink:type="locator"/>
    <label id="id_14240147_3422799_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_14240147_3422799_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RevenueOfCombinedEntity" xlink:label="ifrs-full_RevenueOfCombinedEntity" xlink:type="locator"/>
    <label id="id_14240147_3423630_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_14240147_3423630_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-20181231.xsd#fmx_RevenueThroughForeignCurrency" xlink:label="fmx_RevenueThroughForeignCurrency" xlink:type="locator"/>
    <label id="id_14240147_3443012_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_14240147_3443012_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_14240147_3443012_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-20181231.xsd#fmx_RightToProduceAndDistributeTrademarkProductsMember" xlink:label="fmx_RightToProduceAndDistributeTrademarkProductsMember" xlink:type="locator"/>
    <label id="id_14240147_3489621_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_14240147_3489621_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_14240147_3489621_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-20181231.xsd#fmx_RioDeJaneiroMember" xlink:label="fmx_RioDeJaneiroMember" xlink:type="locator"/>
    <label id="id_14240147_3482076_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_14240147_3482076_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_14240147_3482076_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-20181231.xsd#fmx_RioGrandeDoSulMember" xlink:label="fmx_RioGrandeDoSulMember" xlink:type="locator"/>
    <label id="id_14240147_3482074_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_14240147_3482074_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_14240147_3482074_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RiskExposuresAxis" xlink:label="ifrs-full_RiskExposuresAxis" xlink:type="locator"/>
    <label id="id_14240147_3422942_1_1" xlink:label="ifrs-full_RiskExposuresAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk exposures [axis]</label>
    <label id="id_14240147_3422942_2_1" xlink:label="ifrs-full_RiskExposuresAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk exposures [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RiskExposuresAxis" xlink:to="ifrs-full_RiskExposuresAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_RiskExposuresMember" xlink:label="ifrs-full_RiskExposuresMember" xlink:type="locator"/>
    <label id="id_14240147_3423242_1_1" xlink:label="ifrs-full_RiskExposuresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Risk exposures [member]</label>
    <label id="id_14240147_3423242_2_1" xlink:label="ifrs-full_RiskExposuresMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Risk exposures [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_RiskExposuresMember" xlink:to="ifrs-full_RiskExposuresMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_RiskPremiumBasisPoints" xlink:label="fmx_RiskPremiumBasisPoints" xlink:type="locator"/>
    <label id="id_14240147_3432522_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_14240147_3432522_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_14240147_3432522_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-20181231.xsd#fmx_SabDeCvAndSubsidiariesMember" xlink:label="fmx_SabDeCvAndSubsidiariesMember" xlink:type="locator"/>
    <label id="id_14240147_3500266_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_14240147_3500266_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_14240147_3500266_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-20181231.xsd#fmx_SaleOfOwnershipPercentage" xlink:label="fmx_SaleOfOwnershipPercentage" xlink:type="locator"/>
    <label id="id_14240147_3525098_3_1" xlink:label="fmx_SaleOfOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Sale of ownership percentage.</label>
    <label id="id_14240147_3525098_1_1" xlink:label="fmx_SaleOfOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Sale Of Ownership Percentage</label>
    <label id="id_14240147_3525098_2_1" xlink:label="fmx_SaleOfOwnershipPercentage_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Sale of ownership percentage</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SaleOfOwnershipPercentage" xlink:to="fmx_SaleOfOwnershipPercentage_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SaleOfWasteMaterial" xlink:label="fmx_SaleOfWasteMaterial" xlink:type="locator"/>
    <label id="id_14240147_3434087_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_14240147_3434087_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_14240147_3434087_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SalesAndMarketingExpense" xlink:label="ifrs-full_SalesAndMarketingExpense" xlink:type="locator"/>
    <label id="id_14240147_3422816_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_14240147_3422816_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-20181231.xsd#fmx_SalesTaxesInTheProvinceOfBuenosAiresMember" xlink:label="fmx_SalesTaxesInTheProvinceOfBuenosAiresMember" xlink:type="locator"/>
    <label id="id_14240147_3510804_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_14240147_3510804_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_14240147_3510804_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-20181231.xsd#fmx_SalesTaxInCityOfBuenosAiresMember" xlink:label="fmx_SalesTaxInCityOfBuenosAiresMember" xlink:type="locator"/>
    <label id="id_14240147_3510803_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_14240147_3510803_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_14240147_3510803_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-20181231.xsd#fmx_ScheduleOfDomesticTaxRateExplanatory" xlink:label="fmx_ScheduleOfDomesticTaxRateExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3519568_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_14240147_3519568_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_14240147_3519568_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-20181231.xsd#fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory" xlink:label="fmx_ScheduleOfIncomeTaxRecognizedAsOtherComprehensiveIncomeLossExplanatory" xlink:type="locator"/>
    <label id="id_14240147_3520641_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_14240147_3520641_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_14240147_3520641_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-20181231.xsd#fmx_SecurityDepositsMember" xlink:label="fmx_SecurityDepositsMember" xlink:type="locator"/>
    <label id="id_14240147_3498114_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_14240147_3498114_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_14240147_3498114_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentConsolidationItemsAxis" xlink:label="ifrs-full_SegmentConsolidationItemsAxis" xlink:type="locator"/>
    <label id="id_14240147_3423661_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_14240147_3423661_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentsAxis" xlink:label="ifrs-full_SegmentsAxis" xlink:type="locator"/>
    <label id="id_14240147_3422831_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_14240147_3422831_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SegmentsMember" xlink:label="ifrs-full_SegmentsMember" xlink:type="locator"/>
    <label id="id_14240147_3423663_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_14240147_3423663_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-20181231.xsd#fmx_SeniorityPremiumPlanMember" xlink:label="fmx_SeniorityPremiumPlanMember" xlink:type="locator"/>
    <label id="id_14240147_3509070_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_14240147_3509070_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_14240147_3509070_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-20181231.xsd#fmx_SeniorityPremiumsMember" xlink:label="fmx_SeniorityPremiumsMember" xlink:type="locator"/>
    <label id="id_14240147_3501759_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_14240147_3501759_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_14240147_3501759_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-20181231.xsd#fmx_SeriesAShareholdersMember" xlink:label="fmx_SeriesAShareholdersMember" xlink:type="locator"/>
    <label id="id_14240147_3554096_3_1" xlink:label="fmx_SeriesAShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series A shareholders.</label>
    <label id="id_14240147_3554096_1_1" xlink:label="fmx_SeriesAShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A Shareholders [Member]</label>
    <label id="id_14240147_3554096_2_1" xlink:label="fmx_SeriesAShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A shareholders [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesAShareholdersMember" xlink:to="fmx_SeriesAShareholdersMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SeriesASharesMember" xlink:label="fmx_SeriesASharesMember" xlink:type="locator"/>
    <label id="id_14240147_3479165_3_1" xlink:label="fmx_SeriesASharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series A shares.</label>
    <label id="id_14240147_3479165_1_1" xlink:label="fmx_SeriesASharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series A shares [member]</label>
    <label id="id_14240147_3479165_2_1" xlink:label="fmx_SeriesASharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series A shares [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesASharesMember" xlink:to="fmx_SeriesASharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SeriesB1Member" xlink:label="fmx_SeriesB1Member" xlink:type="locator"/>
    <label id="id_14240147_3500467_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_14240147_3500467_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_14240147_3500467_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-20181231.xsd#fmx_SeriesBSharesMember" xlink:label="fmx_SeriesBSharesMember" xlink:type="locator"/>
    <label id="id_14240147_3482770_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_14240147_3482770_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_14240147_3482770_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-20181231.xsd#fmx_SeriesDMember" xlink:label="fmx_SeriesDMember" xlink:type="locator"/>
    <label id="id_14240147_3530411_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_14240147_3530411_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_14240147_3530411_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-20181231.xsd#fmx_SeriesDShareholdersMember" xlink:label="fmx_SeriesDShareholdersMember" xlink:type="locator"/>
    <label id="id_14240147_3554094_3_1" xlink:label="fmx_SeriesDShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series D shareholders.</label>
    <label id="id_14240147_3554094_1_1" xlink:label="fmx_SeriesDShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series D Shareholders [Member]</label>
    <label id="id_14240147_3554094_2_1" xlink:label="fmx_SeriesDShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series D shareholders [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesDShareholdersMember" xlink:to="fmx_SeriesDShareholdersMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SeriesDSharesMember" xlink:label="fmx_SeriesDSharesMember" xlink:type="locator"/>
    <label id="id_14240147_3500299_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_14240147_3500299_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_14240147_3500299_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-20181231.xsd#fmx_SeriesLShareholdersMember" xlink:label="fmx_SeriesLShareholdersMember" xlink:type="locator"/>
    <label id="id_14240147_3554095_3_1" xlink:label="fmx_SeriesLShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series L shareholders.</label>
    <label id="id_14240147_3554095_1_1" xlink:label="fmx_SeriesLShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series L Shareholders [Member]</label>
    <label id="id_14240147_3554095_2_1" xlink:label="fmx_SeriesLShareholdersMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Series L shareholders [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SeriesLShareholdersMember" xlink:to="fmx_SeriesLShareholdersMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SeriesLShareMember" xlink:label="fmx_SeriesLShareMember" xlink:type="locator"/>
    <label id="id_14240147_3501855_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_14240147_3501855_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_14240147_3501855_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="fmx-20181231.xsd#fmx_SeriesLSharesMember" xlink:label="fmx_SeriesLSharesMember" xlink:type="locator"/>
    <label id="id_14240147_3554459_3_1" xlink:label="fmx_SeriesLSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Series L shares.</label>
    <label id="id_14240147_3554459_1_1" xlink:label="fmx_SeriesLSharesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Series L Shares [member]</label>
    <label id="id_14240147_3554459_2_1" xlink:label="fmx_SeriesLSharesMember_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_SeriesLSharesMember" xlink:to="fmx_SeriesLSharesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:label="ifrs-full_ServicesReceivedRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3423259_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_14240147_3423259_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:label="ifrs-full_SettlementOfLiabilitiesByEntityOnBehalfOfRelatedPartyRelatedPartyTransactions" xlink:type="locator"/>
    <label id="id_14240147_3422835_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_14240147_3422835_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. (3)</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-20181231.xsd#fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember" xlink:label="fmx_SevenPointEightSevenPercentageDebtBondsMaturingOnTwoThousandTwentySevenMember" xlink:type="locator"/>
    <label id="id_14240147_3514414_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_14240147_3514414_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_14240147_3514414_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-20181231.xsd#fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember" xlink:label="fmx_SevenPointFourPercentageFixedToSevenPointTwoPercentageVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3487112_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_14240147_3487112_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_14240147_3487112_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-20181231.xsd#fmx_SeverancePayments" xlink:label="fmx_SeverancePayments" xlink:type="locator"/>
    <label id="id_14240147_3466074_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_14240147_3466074_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_14240147_3466074_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-20181231.xsd#fmx_ShareBasedPayments" xlink:label="fmx_ShareBasedPayments" xlink:type="locator"/>
    <label id="id_14240147_3441173_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_14240147_3441173_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_14240147_3441173_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3423683_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_14240147_3423683_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 of equity accounted investees</label>
    <label id="id_14240147_3423683_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:label="ifrs-full_ShareOfOtherComprehensiveIncomeOfAssociatesAndJointVenturesAccountedForUsingEquityMethodThatWillNotBeReclassifiedToProfitOrLossNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3423274_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_14240147_3423274_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 equity accounted investees</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3422845_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_14240147_3422845_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3423684_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_14240147_3423684_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 equity accounted investees, net of tax</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfContinuingOperationsOfAssociatesAndJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3423685_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_14240147_3423685_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:label="ifrs-full_ShareOfProfitLossOfJointVenturesAccountedForUsingEquityMethod" xlink:type="locator"/>
    <label id="id_14240147_3423276_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_14240147_3423276_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-20181231.xsd#fmx_SharePricePerShare" xlink:label="fmx_SharePricePerShare" xlink:type="locator"/>
    <label id="id_14240147_3522675_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_14240147_3522675_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_14240147_3522675_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:label="ifrs-full_SharesInEntityHeldByEntityOrByItsSubsidiariesOrAssociates" xlink:type="locator"/>
    <label id="id_14240147_3422850_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_14240147_3422850_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-20181231.xsd#fmx_ShareStrikePrice" xlink:label="fmx_ShareStrikePrice" xlink:type="locator"/>
    <label id="id_14240147_3522456_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_14240147_3522456_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_14240147_3522456_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_ShorttermBorrowings" xlink:label="ifrs-full_ShorttermBorrowings" xlink:type="locator"/>
    <label id="id_14240147_3422983_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_14240147_3422983_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-20181231.xsd#fmx_ShortTermForeignCurrencyFinancialAssets" xlink:label="fmx_ShortTermForeignCurrencyFinancialAssets" xlink:type="locator"/>
    <label id="id_14240147_3443010_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_14240147_3443010_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_14240147_3443010_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-20181231.xsd#fmx_ShortTermForeignCurrencyFinancialLiabilities" xlink:label="fmx_ShortTermForeignCurrencyFinancialLiabilities" xlink:type="locator"/>
    <label id="id_14240147_3443008_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_14240147_3443008_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_14240147_3443008_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:label="ifrs-full_SignificantInvestmentsInAssociatesAxis" xlink:type="locator"/>
    <label id="id_14240147_3422992_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_14240147_3422992_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:label="ifrs-full_SignificantInvestmentsInSubsidiariesAxis" xlink:type="locator"/>
    <label id="id_14240147_3423286_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_14240147_3423286_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SocialSecurityContributions" xlink:label="ifrs-full_SocialSecurityContributions" xlink:type="locator"/>
    <label id="id_14240147_3422859_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_14240147_3422859_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="fmx-20181231.xsd#fmx_SolisticaMember" xlink:label="fmx_SolisticaMember" xlink:type="locator"/>
    <label id="id_14240147_3564580_3_1" xlink:label="fmx_SolisticaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Solistica.</label>
    <label id="id_14240147_3564580_1_1" xlink:label="fmx_SolisticaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Solistica [member]</label>
    <label id="id_14240147_3564580_2_1" xlink:label="fmx_SolisticaMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Solistica [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_SolisticaMember" xlink:to="fmx_SolisticaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.fasb.org/srt/2018/elts/srt-2018-01-31.xsd#srt_SouthAmericaMember" xlink:label="srt_SouthAmericaMember" xlink:type="locator"/>
    <label id="id_14240147_3422860_1_1" xlink:label="srt_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_14240147_3422860_2_1" xlink:label="srt_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="srt_SouthAmericaMember" xlink:to="srt_SouthAmericaMember_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SpalIndustriaBrasileriaDeBebidasMember" xlink:label="fmx_SpalIndustriaBrasileriaDeBebidasMember" xlink:type="locator"/>
    <label id="id_14240147_3510798_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_14240147_3510798_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_14240147_3510798_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-20181231.xsd#fmx_SpalMember" xlink:label="fmx_SpalMember" xlink:type="locator"/>
    <label id="id_14240147_3486709_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_14240147_3486709_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_14240147_3486709_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SpareParts" xlink:label="ifrs-full_SpareParts" xlink:type="locator"/>
    <label id="id_14240147_3422861_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_14240147_3422861_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-20181231.xsd#fmx_SpecialtysCafeAndBakeryIncorporationMember" xlink:label="fmx_SpecialtysCafeAndBakeryIncorporationMember" xlink:type="locator"/>
    <label id="id_14240147_3500437_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_14240147_3500437_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_14240147_3500437_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="fmx-20181231.xsd#fmx_StatementLineItems" xlink:label="fmx_StatementLineItems" xlink:type="locator"/>
    <label id="id_14240147_3426236_3_1" xlink:label="fmx_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</label>
    <label id="id_14240147_3426236_1_1" xlink:label="fmx_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_14240147_3426236_2_1" xlink:label="fmx_StatementLineItems_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Statement [LineItems]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_StatementLineItems" xlink:to="fmx_StatementLineItems_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfCashFlowsAbstract" xlink:label="ifrs-full_StatementOfCashFlowsAbstract" xlink:type="locator"/>
    <label id="id_14240147_3423004_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_14240147_3423004_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityAbstract" xlink:label="ifrs-full_StatementOfChangesInEquityAbstract" xlink:type="locator"/>
    <label id="id_14240147_3422872_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_14240147_3422872_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityLineItems" xlink:label="ifrs-full_StatementOfChangesInEquityLineItems" xlink:type="locator"/>
    <label id="id_14240147_3423719_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_14240147_3423719_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfChangesInEquityTable" xlink:label="ifrs-full_StatementOfChangesInEquityTable" xlink:type="locator"/>
    <label id="id_14240147_3423720_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_14240147_3423720_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:label="ifrs-full_StatementOfComprehensiveIncomeAbstract" xlink:type="locator"/>
    <label id="id_14240147_3423005_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_14240147_3423005_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatementOfFinancialPositionAbstract" xlink:label="ifrs-full_StatementOfFinancialPositionAbstract" xlink:type="locator"/>
    <label id="id_14240147_3422873_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_14240147_3422873_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="fmx-20181231.xsd#fmx_StatementTable" xlink:label="fmx_StatementTable" xlink:type="locator"/>
    <label id="id_14240147_3426235_3_1" xlink:label="fmx_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Schedule reflecting a Statement of Income, Statement of Cash Flows, Statement of Financial Position, Statement of Shareholders Equity and Other Comprehensive Income, or other statement as needed.</label>
    <label id="id_14240147_3426235_1_1" xlink:label="fmx_StatementTable_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Statement [Table]</label>
    <label id="id_14240147_3426235_2_1" xlink:label="fmx_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="fmx_StatementTable" xlink:to="fmx_StatementTable_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_StatutoryReserve" xlink:label="ifrs-full_StatutoryReserve" xlink:type="locator"/>
    <label id="id_14240147_3423729_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_14240147_3423729_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="fmx-20181231.xsd#fmx_StockSplitRatio" xlink:label="fmx_StockSplitRatio" xlink:type="locator"/>
    <label id="id_14240147_3525220_3_1" xlink:label="fmx_StockSplitRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Stock split ratio.</label>
    <label id="id_14240147_3525220_1_1" xlink:label="fmx_StockSplitRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Stock split ratio</label>
    <label id="id_14240147_3525220_2_1" xlink:label="fmx_StockSplitRatio_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Stock split ratio</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_StockSplitRatio" xlink:to="fmx_StockSplitRatio_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_SubsidiariesActivities" xlink:label="fmx_SubsidiariesActivities" xlink:type="locator"/>
    <label id="id_14240147_3469414_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_14240147_3469414_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_14240147_3469414_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SubsidiariesMember" xlink:label="ifrs-full_SubsidiariesMember" xlink:type="locator"/>
    <label id="id_14240147_3423015_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_14240147_3423015_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-20181231.xsd#fmx_SugarCansAndAluminumLidsMember" xlink:label="fmx_SugarCansAndAluminumLidsMember" xlink:type="locator"/>
    <label id="id_14240147_3497155_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_14240147_3497155_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_14240147_3497155_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-20181231.xsd#fmx_SugarMember" xlink:label="fmx_SugarMember" xlink:type="locator"/>
    <label id="id_14240147_3497161_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_14240147_3497161_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_14240147_3497161_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-20181231.xsd#fmx_SugarPriceContractsMember" xlink:label="fmx_SugarPriceContractsMember" xlink:type="locator"/>
    <label id="id_14240147_3502997_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_14240147_3502997_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_14240147_3502997_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-20181231.xsd#fmx_SuppliersProvisions" xlink:label="fmx_SuppliersProvisions" xlink:type="locator"/>
    <label id="id_14240147_3461318_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_14240147_3461318_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_14240147_3461318_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_SurplusDeficitInPlanAbstract" xlink:label="ifrs-full_SurplusDeficitInPlanAbstract" xlink:type="locator"/>
    <label id="id_14240147_3423326_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_14240147_3423326_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-20181231.xsd#fmx_TaxContingenciesAmount" xlink:label="fmx_TaxContingenciesAmount" xlink:type="locator"/>
    <label id="id_14240147_3441766_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_14240147_3441766_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_14240147_3441766_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-20181231.xsd#fmx_TaxCreditsMember" xlink:label="fmx_TaxCreditsMember" xlink:type="locator"/>
    <label id="id_14240147_3479870_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_14240147_3479870_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_14240147_3479870_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-20181231.xsd#fmx_TaxCreditsToRecoverMember" xlink:label="fmx_TaxCreditsToRecoverMember" xlink:type="locator"/>
    <label id="id_14240147_3480538_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_14240147_3480538_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_14240147_3480538_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-20181231.xsd#fmx_TaxesPayable" xlink:label="fmx_TaxesPayable" xlink:type="locator"/>
    <label id="id_14240147_3446626_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_14240147_3446626_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_14240147_3446626_2_1" xlink:label="fmx_TaxesPayable_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Payable taxes</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-20181231.xsd#fmx_TaxesPayableDueInTaxClaims" xlink:label="fmx_TaxesPayableDueInTaxClaims" xlink:type="locator"/>
    <label id="id_14240147_3449961_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_14240147_3449961_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_14240147_3449961_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:label="ifrs-full_TaxExpenseOtherThanIncomeTaxExpense" xlink:type="locator"/>
    <label id="id_14240147_3423029_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_14240147_3423029_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations" xlink:label="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations" xlink:type="locator"/>
    <label id="id_14240147_3423994_1_1" xlink:label="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax expense (income) relating to profit (loss) from ordinary activities of discontinued operations</label>
    <label id="id_14240147_3423994_2_1" xlink:label="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Income taxes</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations" xlink:to="ifrs-full_TaxExpenseRelatingToProfitLossFromOrdinaryActivitiesOfDiscontinuedOperations_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossCarryForwardsMember" xlink:label="fmx_TaxLossCarryForwardsMember" xlink:type="locator"/>
    <label id="id_14240147_3479644_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_14240147_3479644_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_14240147_3479644_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-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearEight" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearEight" xlink:type="locator"/>
    <label id="id_14240147_3439743_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_14240147_3439743_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_14240147_3439743_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearEight_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2026</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-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearFive" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFive" xlink:type="locator"/>
    <label id="id_14240147_3439740_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_14240147_3439740_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_14240147_3439740_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFive_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_TaxLossesCarriedForwardWhichExpireInYearFive" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearFive_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearFour" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFour" xlink:type="locator"/>
    <label id="id_14240147_3439739_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_14240147_3439739_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_14240147_3439739_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearFour_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_TaxLossesCarriedForwardWhichExpireInYearFour" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearFour_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearNine" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNine" xlink:type="locator"/>
    <label id="id_14240147_3437374_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNine_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.</label>
    <label id="id_14240147_3437374_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNine_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</label>
    <label id="id_14240147_3437374_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearNine_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2027</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearNine" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearNine_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearOne" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearOne" xlink:type="locator"/>
    <label id="id_14240147_3439737_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_14240147_3439737_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_14240147_3439737_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearOne_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_TaxLossesCarriedForwardWhichExpireInYearOne" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearOne_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearSeven" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven" xlink:type="locator"/>
    <label id="id_14240147_3439742_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_14240147_3439742_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_14240147_3439742_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven_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_TaxLossesCarriedForwardWhichExpireInYearSeven" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearSeven_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearSix" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSix" xlink:type="locator"/>
    <label id="id_14240147_3439741_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_14240147_3439741_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_14240147_3439741_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearSix_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_TaxLossesCarriedForwardWhichExpireInYearSix" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearSix_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter" xlink:type="locator"/>
    <label id="id_14240147_3530097_3_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter_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 ten and thereafter.</label>
    <label id="id_14240147_3530097_1_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter_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 Ten And Thereafter</label>
    <label id="id_14240147_3530097_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2028 and thereafter</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter" xlink:to="fmx_TaxLossesCarriedForwardWhichExpireInYearTenAndThereafter_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarriedForwardWhichExpireInYearThree" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearThree" xlink:type="locator"/>
    <label id="id_14240147_3439738_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_14240147_3439738_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_14240147_3439738_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearThree_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2021</label>
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    <label id="id_14240147_3530474_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_14240147_3530474_2_1" xlink:label="fmx_TaxLossesCarriedForwardWhichExpireInYearTwo_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2020</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_TaxLossesCarryforward" xlink:label="fmx_TaxLossesCarryforward" xlink:type="locator"/>
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    <label id="id_14240147_3434271_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_14240147_3434271_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>
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    <loc xlink:href="fmx-20181231.xsd#fmx_TaxRateEffectOfAnnualInflationTaxAdjustment" xlink:label="fmx_TaxRateEffectOfAnnualInflationTaxAdjustment" xlink:type="locator"/>
    <label id="id_14240147_3524867_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_14240147_3524867_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_14240147_3524867_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>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation" xlink:label="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation" xlink:type="locator"/>
    <label id="id_14240147_3423336_1_1" xlink:label="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Tax rate effect of revenues exempt from taxation</label>
    <label id="id_14240147_3423336_2_1" xlink:label="ifrs-full_TaxRateEffectOfRevenuesExemptFromTaxation_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Municipality sales tax credited against payable income tax</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_TechnologyCostsAndManagementSystemsMember" xlink:label="fmx_TechnologyCostsAndManagementSystemsMember" xlink:type="locator"/>
    <label id="id_14240147_3485202_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_14240147_3485202_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_14240147_3485202_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:label="ifrs-full_TemporaryDifferencesAssociatedWithInvestmentsInSubsidiariesBranchesAndAssociatesAndInterestsInJointVentures" xlink:type="locator"/>
    <label id="id_14240147_3423748_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_14240147_3423748_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>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsAxis" xlink:type="locator"/>
    <label id="id_14240147_3423034_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_14240147_3423034_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:label="ifrs-full_TemporaryDifferenceUnusedTaxLossesAndUnusedTaxCreditsMember" xlink:type="locator"/>
    <label id="id_14240147_3423035_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_14240147_3423035_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-20181231.xsd#fmx_TemporaryNonDeductibleProvisionMember" xlink:label="fmx_TemporaryNonDeductibleProvisionMember" xlink:type="locator"/>
    <label id="id_14240147_3480536_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_14240147_3480536_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_14240147_3480536_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TerminationBenefitsExpense" xlink:label="ifrs-full_TerminationBenefitsExpense" xlink:type="locator"/>
    <label id="id_14240147_3423340_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_14240147_3423340_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-20181231.xsd#fmx_TermOfRenewalOptionForRelatedPartyTransaction" xlink:label="fmx_TermOfRenewalOptionForRelatedPartyTransaction" xlink:type="locator"/>
    <label id="id_14240147_3472335_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_14240147_3472335_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_14240147_3472335_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-20181231.xsd#fmx_TextBlockAbstract" xlink:label="fmx_TextBlockAbstract" xlink:type="locator"/>
    <label id="id_14240147_3426207_3_1" xlink:label="fmx_TextBlockAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Text block [abstract]</label>
    <label id="id_14240147_3426207_1_1" xlink:label="fmx_TextBlockAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Text block [abstract]</label>
    <label id="id_14240147_3426207_2_1" xlink:label="fmx_TextBlockAbstract_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Text Block [abstract]</label>
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    <loc xlink:href="fmx-20181231.xsd#fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember" xlink:label="fmx_ThreePointEightEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandTwentyThreeMember" xlink:type="locator"/>
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    <label id="id_14240147_3503056_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>
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    <loc xlink:href="fmx-20181231.xsd#fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember" xlink:label="fmx_TIIEPlusZeroPointFivePercentageDebtBondsMaturingOnTwoThousandTwentyTwoMember" xlink:type="locator"/>
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    <label id="id_14240147_3514413_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_14240147_3514413_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>
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    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xlink:label="ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xlink:type="locator"/>
    <label id="id_14240147_3424003_1_1" xlink:label="ifrs-full_TimingOfTransferOfGoodsOrServicesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Timing of transfer of goods or services [axis]</label>
    <label id="id_14240147_3424003_2_1" xlink:label="ifrs-full_TimingOfTransferOfGoodsOrServicesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Timing of transfer of goods or services [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TimingOfTransferOfGoodsOrServicesAxis" xlink:to="ifrs-full_TimingOfTransferOfGoodsOrServicesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xlink:label="ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xlink:type="locator"/>
    <label id="id_14240147_3423040_1_1" xlink:label="ifrs-full_TimingOfTransferOfGoodsOrServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Timing of transfer of goods or services [member]</label>
    <label id="id_14240147_3423040_2_1" xlink:label="ifrs-full_TimingOfTransferOfGoodsOrServicesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Timing of transfer of goods or services [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TimingOfTransferOfGoodsOrServicesMember" xlink:to="ifrs-full_TimingOfTransferOfGoodsOrServicesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TopOfRangeMember" xlink:label="ifrs-full_TopOfRangeMember" xlink:type="locator"/>
    <label id="id_14240147_3423353_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_14240147_3423353_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentPayables" xlink:label="ifrs-full_TradeAndOtherCurrentPayables" xlink:type="locator"/>
    <label id="id_14240147_3424011_1_1" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade and other current payables</label>
    <label id="id_14240147_3424011_2_1" xlink:label="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade payable</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeAndOtherCurrentPayables" xlink:to="ifrs-full_TradeAndOtherCurrentPayables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivables" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables" xlink:type="locator"/>
    <label id="id_14240147_3423049_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_14240147_3423049_6_1" xlink:label="ifrs-full_TradeAndOtherCurrentReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:type="resource" xml:lang="en-US">Trade 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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesAbstract" xlink:type="locator"/>
    <label id="id_14240147_3423762_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_14240147_3423762_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherCurrentReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <label id="id_14240147_3424012_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_14240147_3424012_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" xlink:label="ifrs-full_TradeAndOtherPayablesRecognisedAsOfAcquisitionDate" xlink:type="locator"/>
    <label id="id_14240147_3424013_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_14240147_3424013_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherReceivables" xlink:label="ifrs-full_TradeAndOtherReceivables" xlink:type="locator"/>
    <label id="id_14240147_3423053_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_14240147_3423053_2_1" xlink:label="ifrs-full_TradeAndOtherReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Note receivables</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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:label="ifrs-full_TradeAndOtherReceivablesDueFromRelatedParties" xlink:type="locator"/>
    <label id="id_14240147_3423359_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_14240147_3423359_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-20181231.xsd#fmx_TradedSecuritiesMember" xlink:label="fmx_TradedSecuritiesMember" xlink:type="locator"/>
    <label id="id_14240147_3478478_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_14240147_3478478_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_14240147_3478478_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeReceivables" xlink:label="ifrs-full_TradeReceivables" xlink:type="locator"/>
    <label id="id_14240147_3423360_1_1" xlink:label="ifrs-full_TradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Trade receivables</label>
    <label id="id_14240147_3423360_2_1" xlink:label="ifrs-full_TradeReceivables_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Trade accounts receivables</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TradeReceivables" xlink:to="ifrs-full_TradeReceivables_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TradeReceivablesMember" xlink:label="ifrs-full_TradeReceivablesMember" xlink:type="locator"/>
    <label id="id_14240147_3424016_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_14240147_3424016_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="https://xbrl.sec.gov/dei/2018/dei-2018-01-31.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" xlink:type="locator"/>
    <label id="id_14240147_3423057_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_14240147_3423057_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations" xlink:label="ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations" xlink:type="locator"/>
    <label id="id_14240147_3423059_1_1" xlink:label="ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Transaction price allocated to remaining performance obligations</label>
    <label id="id_14240147_3423059_2_1" xlink:label="ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Transaction price allocated to remaining performance obligations</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations" xlink:to="ifrs-full_TransactionPriceAllocatedToRemainingPerformanceObligations_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TreasuryShares" xlink:label="ifrs-full_TreasuryShares" xlink:type="locator"/>
    <label id="id_14240147_3424026_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_14240147_3424026_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-20181231.xsd#fmx_TrustAssetsFixedAndVariableReturnPercentage" xlink:label="fmx_TrustAssetsFixedAndVariableReturnPercentage" xlink:type="locator"/>
    <label id="id_14240147_3525551_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_14240147_3525551_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_14240147_3525551_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-20181231.xsd#fmx_TrustAssetsFixedReturnPercentage" xlink:label="fmx_TrustAssetsFixedReturnPercentage" xlink:type="locator"/>
    <label id="id_14240147_3525549_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_14240147_3525549_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_14240147_3525549_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-20181231.xsd#fmx_TrustAssetsVariableReturnPercentage" xlink:label="fmx_TrustAssetsVariableReturnPercentage" xlink:type="locator"/>
    <label id="id_14240147_3525550_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_14240147_3525550_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_14240147_3525550_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-20181231.xsd#fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember" xlink:label="fmx_TwoPointThreeEightPercentageDebtBondsMaturingOnTwoThousandEighteenMember" xlink:type="locator"/>
    <label id="id_14240147_3514416_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_14240147_3514416_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_14240147_3514416_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-20181231.xsd#fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember" xlink:label="fmx_TwoPointThreeEightPercentageSeniorNotesMaturingOnNovemberTwentySixTwoThousandEighteenMember" xlink:type="locator"/>
    <label id="id_14240147_3503053_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_14240147_3503053_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_14240147_3503053_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-20181231.xsd#fmx_TwoThousandEighteenToTwoThousandTwentySevenMember" xlink:label="fmx_TwoThousandEighteenToTwoThousandTwentySevenMember" xlink:type="locator"/>
    <label id="id_14240147_3514327_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_14240147_3514327_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_14240147_3514327_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-20181231.xsd#fmx_TwoThousandFifteenToTwoThousandSeventeenMember" xlink:label="fmx_TwoThousandFifteenToTwoThousandSeventeenMember" xlink:type="locator"/>
    <label id="id_14240147_3514374_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_14240147_3514374_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_14240147_3514374_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-20181231.xsd#fmx_TwoThousandFourteenToTwoThousandSixteenMember" xlink:label="fmx_TwoThousandFourteenToTwoThousandSixteenMember" xlink:type="locator"/>
    <label id="id_14240147_3502733_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_14240147_3502733_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_14240147_3502733_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-20181231.xsd#fmx_TwoThousandSeventeenToTwoThousandTwentySixMember" xlink:label="fmx_TwoThousandSeventeenToTwoThousandTwentySixMember" xlink:type="locator"/>
    <label id="id_14240147_3501869_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_14240147_3501869_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_14240147_3501869_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-20181231.xsd#fmx_TwoThousandSixteenToTwoThousandEighteenMember" xlink:label="fmx_TwoThousandSixteenToTwoThousandEighteenMember" xlink:type="locator"/>
    <label id="id_14240147_3541704_3_1" xlink:label="fmx_TwoThousandSixteenToTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">Two thousand sixteen to two thousand eighteen.</label>
    <label id="id_14240147_3541704_1_1" xlink:label="fmx_TwoThousandSixteenToTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Two Thousand Sixteen To Two Thousand Eighteen [member]</label>
    <label id="id_14240147_3541704_2_1" xlink:label="fmx_TwoThousandSixteenToTwoThousandEighteenMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">2016- 2018 [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="fmx_TwoThousandSixteenToTwoThousandEighteenMember" xlink:to="fmx_TwoThousandSixteenToTwoThousandEighteenMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:label="ifrs-full_TypesOfFinancialLiabilitiesAxis" xlink:type="locator"/>
    <label id="id_14240147_3424035_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_14240147_3424035_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfHedgesAxis" xlink:label="ifrs-full_TypesOfHedgesAxis" xlink:type="locator"/>
    <label id="id_14240147_3424036_1_1" xlink:label="ifrs-full_TypesOfHedgesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Types of hedges [axis]</label>
    <label id="id_14240147_3424036_2_1" xlink:label="ifrs-full_TypesOfHedgesAxis_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Types of hedges [axis]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesAxis" xlink:to="ifrs-full_TypesOfHedgesAxis_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfHedgesMember" xlink:label="ifrs-full_TypesOfHedgesMember" xlink:type="locator"/>
    <label id="id_14240147_3424454_1_1" xlink:label="ifrs-full_TypesOfHedgesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Hedges [member]</label>
    <label id="id_14240147_3424454_2_1" xlink:label="ifrs-full_TypesOfHedgesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Hedges [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ifrs-full_TypesOfHedgesMember" xlink:to="ifrs-full_TypesOfHedgesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfInstrumentMember" xlink:label="ifrs-full_TypesOfInstrumentMember" xlink:type="locator"/>
    <label id="id_14240147_3423079_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_14240147_3423079_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfInterestRatesAxis" xlink:label="ifrs-full_TypesOfInterestRatesAxis" xlink:type="locator"/>
    <label id="id_14240147_3424455_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_14240147_3424455_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksAxis" xlink:label="ifrs-full_TypesOfRisksAxis" xlink:type="locator"/>
    <label id="id_14240147_3424456_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_14240147_3424456_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_TypesOfRisksMember" xlink:label="ifrs-full_TypesOfRisksMember" xlink:type="locator"/>
    <label id="id_14240147_3423384_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_14240147_3423384_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-20181231.xsd#fmx_UBI3ParticipacoesLTDAMember" xlink:label="fmx_UBI3ParticipacoesLTDAMember" xlink:type="locator"/>
    <label id="id_14240147_3514426_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_14240147_3514426_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_14240147_3514426_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-20181231.xsd#fmx_UnamortisedIntangibleAssetsMember" xlink:label="fmx_UnamortisedIntangibleAssetsMember" xlink:type="locator"/>
    <label id="id_14240147_3485201_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_14240147_3485201_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_14240147_3485201_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:label="ifrs-full_UndiscountedOperatingLeasePaymentsToBeReceived" xlink:type="locator"/>
    <label id="id_14240147_3423394_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_14240147_3423394_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-20181231.xsd#fmx_UnhedgedPortionBankLoansMember" xlink:label="fmx_UnhedgedPortionBankLoansMember" xlink:type="locator"/>
    <label id="id_14240147_3492872_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_14240147_3492872_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_14240147_3492872_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-20181231.xsd#fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember" xlink:label="fmx_UnrealisedGainLossesOnDerivativeFinancialInstrumentsMember" xlink:type="locator"/>
    <label id="id_14240147_3477269_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_14240147_3477269_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_14240147_3477269_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-20181231.xsd#fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome" xlink:label="fmx_UnrealizedLossesOnDerivativeFinancialInstrumentsAccumulatedOtherComprehensiveIncome" xlink:type="locator"/>
    <label id="id_14240147_3461304_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_14240147_3461304_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_14240147_3461304_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-20181231.xsd#fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration" xlink:label="fmx_UnrecognizedDeferredTaxAssetsTaxLossCarryForwardWithNoExpiration" xlink:type="locator"/>
    <label id="id_14240147_3434269_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_14240147_3434269_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_14240147_3434269_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-20181231.xsd#fmx_UnsettledMember" xlink:label="fmx_UnsettledMember" xlink:type="locator"/>
    <label id="id_14240147_3510808_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_14240147_3510808_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_14240147_3510808_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_14240147_3424474_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_14240147_3424474_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_USD" xlink:label="currency_USD" xlink:type="locator"/>
    <label id="id_14240147_3423397_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_14240147_3423397_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-20181231.xsd#fmx_USDollarMember" xlink:label="fmx_USDollarMember" xlink:type="locator"/>
    <label id="id_14240147_3477308_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_14240147_3477308_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_14240147_3477308_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-20181231.xsd#fmx_USDollarToBrazilianReaisMember" xlink:label="fmx_USDollarToBrazilianReaisMember" xlink:type="locator"/>
    <label id="id_14240147_3487115_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_14240147_3487115_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_14240147_3487115_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-20181231.xsd#fmx_USDollarToMexicanPersosMember" xlink:label="fmx_USDollarToMexicanPersosMember" xlink:type="locator"/>
    <label id="id_14240147_3487108_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_14240147_3487108_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_14240147_3487108_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/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:label="ifrs-full_UsefulLivesOrDepreciationRatesPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3424475_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_14240147_3424475_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_14240147_3424475_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-20181231.xsd#fmx_UsefulLivesPropertyPlantAndEquipment" xlink:label="fmx_UsefulLivesPropertyPlantAndEquipment" xlink:type="locator"/>
    <label id="id_14240147_3472104_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_14240147_3472104_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_14240147_3472104_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="fmx-20181231.xsd#fmx_UsGovernmentAgenciesDebtSecuritiesMember" xlink:label="fmx_UsGovernmentAgenciesDebtSecuritiesMember" xlink:type="locator"/>
    <label id="id_14240147_3541491_3_1" xlink:label="fmx_UsGovernmentAgenciesDebtSecuritiesMember_lbl" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:type="resource" xml:lang="en-US">US Government agencies debt securities.</label>
    <label id="id_14240147_3541491_1_1" xlink:label="fmx_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_14240147_3541491_2_1" xlink:label="fmx_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="fmx_UsGovernmentAgenciesDebtSecuritiesMember" xlink:to="fmx_UsGovernmentAgenciesDebtSecuritiesMember_lbl" xlink:type="arc"/>
    <loc xlink:href="http://xbrl.sec.gov/country/2017/country-2017-01-31.xsd#country_UY" xlink:label="country_UY" xlink:type="locator"/>
    <label id="id_14240147_3423401_1_1" xlink:label="country_UY_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">URUGUAY</label>
    <label id="id_14240147_3423401_2_1" xlink:label="country_UY_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Uruguay [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_UY" xlink:to="country_UY_lbl" xlink:type="arc"/>
    <loc xlink:href="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_UYI" xlink:label="currency_UYI" xlink:type="locator"/>
    <label id="id_14240147_3424477_1_1" xlink:label="currency_UYI_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Uruguay Peso en Unidades Indexadas (UPUI)</label>
    <label id="id_14240147_3424477_2_1" xlink:label="currency_UYI_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Uruguay Peso en Unidades Indexadas (UPUI) [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_UYI" xlink:to="currency_UYI_lbl" xlink:type="arc"/>
    <loc xlink:href="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_UYU" xlink:label="currency_UYU" xlink:type="locator"/>
    <label id="id_14240147_3424478_1_1" xlink:label="currency_UYU_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:type="resource" xml:lang="en-US">Uruguay, Pesos</label>
    <label id="id_14240147_3424478_2_1" xlink:label="currency_UYU_lbl" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:type="resource" xml:lang="en-US">Uruguayan peso [member]</label>
    <labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="currency_UYU" xlink:to="currency_UYU_lbl" xlink:type="arc"/>
    <loc xlink:href="fmx-20181231.xsd#fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentMember" xlink:type="locator"/>
    <label id="id_14240147_3500300_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_14240147_3500300_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_14240147_3500300_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-20181231.xsd#fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstruments" xlink:type="locator"/>
    <label id="id_14240147_3444632_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_14240147_3444632_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_14240147_3444632_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-20181231.xsd#fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax" xlink:label="fmx_ValuationOfEffectivePortionOfDerivativeFinancialInstrumentsNetOfTax" xlink:type="locator"/>
    <label id="id_14240147_3441369_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_14240147_3441369_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_14240147_3441369_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>
    <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-20181231.xsd#fmx_ValueAddedTaxMember" xlink:label="fmx_ValueAddedTaxMember" xlink:type="locator"/>
    <label id="id_14240147_3509669_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_14240147_3509669_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_14240147_3509669_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-20181231.xsd#fmx_ValueAddedTaxPercentage" xlink:label="fmx_ValueAddedTaxPercentage" xlink:type="locator"/>
    <label id="id_14240147_3523530_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_14240147_3523530_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_14240147_3523530_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-20181231.xsd#fmx_VariableReturnAbstract" xlink:label="fmx_VariableReturnAbstract" xlink:type="locator"/>
    <label id="id_14240147_3428840_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_14240147_3428840_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_14240147_3428840_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-20181231.xsd#fmx_VariableToFixedInterestRateMember" xlink:label="fmx_VariableToFixedInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3487113_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_14240147_3487113_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_14240147_3487113_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-20181231.xsd#fmx_VariableToFixedInterestRateThreeMember" xlink:label="fmx_VariableToFixedInterestRateThreeMember" xlink:type="locator"/>
    <label id="id_14240147_3487098_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_14240147_3487098_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_14240147_3487098_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-20181231.xsd#fmx_VariableToFixedInterestRateTwoMember" xlink:label="fmx_VariableToFixedInterestRateTwoMember" xlink:type="locator"/>
    <label id="id_14240147_3487097_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_14240147_3487097_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_14240147_3487097_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-20181231.xsd#fmx_VariableToVariableInterestRateMember" xlink:label="fmx_VariableToVariableInterestRateMember" xlink:type="locator"/>
    <label id="id_14240147_3487119_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_14240147_3487119_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_14240147_3487119_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_14240147_3424482_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_14240147_3424482_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="https://xbrl.sec.gov/currency/2017/currency-2017-01-31.xsd#currency_VEF" xlink:label="currency_VEF" xlink:type="locator"/>
    <label id="id_14240147_3423406_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_14240147_3423406_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-20181231.xsd#fmx_VonparMember" xlink:label="fmx_VonparMember" xlink:type="locator"/>
    <label id="id_14240147_3501778_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_14240147_3501778_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_14240147_3501778_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="http://xbrl.ifrs.org/taxonomy/2018-03-16/full_ifrs/full_ifrs-cor_2018-03-16.xsd#ifrs-full_WagesAndSalaries" xlink:label="ifrs-full_WagesAndSalaries" xlink:type="locator"/>
    <label id="id_14240147_3423771_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_14240147_3423771_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-20181231.xsd#fmx_WeightedAverageCostOfCapitalAfterTaxPercentage" xlink:label="fmx_WeightedAverageCostOfCapitalAfterTaxPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524397_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_14240147_3524397_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_14240147_3524397_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-20181231.xsd#fmx_WeightedAverageCostOfCapitalPreTaxPercentage" xlink:label="fmx_WeightedAverageCostOfCapitalPreTaxPercentage" xlink:type="locator"/>
    <label id="id_14240147_3524396_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_14240147_3524396_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>
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    <loc xlink:href="fmx-20181231.xsd#fmx_WithholdingTaxesAssociatedWithPaymentOfDividends" xlink:label="fmx_WithholdingTaxesAssociatedWithPaymentOfDividends" xlink:type="locator"/>
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    <label id="id_14240147_3434255_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>
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