Bank of Mexico survey shows nearshoring impact, prospects

Three out of 10 companies operating in Mexico are already seeing benefits from nearshoring, according to a Bank of Mexico (Banxico) survey, reflecting high levels of optimism from businesses that have relocated here.

Banxico’s survey of more than 400 companies found that 27% are already increasing their productive capacity, either by expanding existing plants or building new ones.

L'usine Yinlun Salinas Cruz en construction en 2022
A diverse range of Asian businesses have sought to set up manufacturing facilities in Mexico. Seen here is the new Yinlun factory in Nuevo León under construction in 2022. (Hofusan Industrial Park/Twitter)

“… 30.7% of companies mentioned having signed new contracts with foreign companies or having increased their production due to relocation,” Banxico reported. “A similar proportion, of 29.1%, said that they have hired more personnel, increased their use of installed capacity, or increased the surface area of rented properties.”

Another 40.6% of entrepreneurs surveyed believed that they would see benefits from nearshoring by 2024 or 2025, while 23.2% said they would feel the effect between 2026 and 2030.

The bank concluded that nearshoring in Mexico is well underway but that it will take time for its strongest effects to be felt.

“The relocation of production is likely to be gradual, as planning and setting up businesses in a new location are costly and time-consuming processes,” the bank’s report said. 

Parc industriel à Saltillo
Northern states, such as Coahuila, have seen heavy investment, thanks to their proximity to the important U.S. markets. (Photo: OCV Salitillo)

In the survey, 32.9% of respondents said their companies planned to increase investment in Mexico in the future, while 42.5% had held internal conversations about how they could benefit from nearshoring.

The trend has been encouraged by policymakers in both Mexico and the United States, particularly in the wake of the U.S.-Mexico-Canada Free Trade Agreement (USMCA), which, like NAFTA, exempts agricultural and manufactured goods made in any of the three USMCA countries from tariffs that meet origin of materials requirements.

Last year, Mexico saw foreign direct investment (FDI) of US $35.3 billion, the highest figure since 2015. In May, the Economy Ministry reported that US $48 billion of investments in Mexico had already been announced during 2023, many linked to nearshoring.

Although the phenomenon’s immediate effects are in the manufacturing sector, the mass relocation of Asian firms to Mexico is predicted to drive growth in supporting industries such as food, construction and education. Economists have urged Mexican policymakers to invest in infrastructure to maximize the benefits of this trend and to ensure that its effects are felt throughout the country.

“All regions of the country have the potential to benefit from relocation, not just the north,” said Alejandrina Salcedo, Banxico’s chief economist, in a video conference discussing the latest survey. “All regions should have the infrastructure.”

With reports from Forbes et le Expansión

Pour les questions relatives à biens immobiliers à Puerto Vallarta, ou real estate in Bahia de Banderasproperty managementbuying houses in Puerto Vallartabuying condos in Puerto Vallarta or the surrounding areas Mexpat Realtors in Puerto Vallarta is a great resource call them or go to their website www.mexpatrealtors.com for more information

Source: https://mexiconewsdaily.com/business/banxico-survey-mexicos-nearshoring-impact/

Partager cette publication

fr_FRFrench

Listo!

Gracias por tomarse el tempo para ayudarnos a comprender mejor sus necesidades / deseos y plazos. A cada cliente se le asigna un Agente de Bienes Raíces y un Gerente de Relaciones con el Cliente. Su equipo se pondrá en contacto con usted en breve con una lista de propiedades disponibles que concuerdan con la descripción que nos proporcionó y para responder a cualquier pregunta o inquietud que pueda tener, y/o aclarar cualquier duda que nos surja de sus respuestas.

Gracias por permitirnos ofrecerle un cambio de vida - para mejor!

Luke Kost Agente de Bienes Races, desea agradecerle especialmente por brindarnos la oportunidad de saber más sobre usted y ayudarlo. Independientemente de sus plazos, nos complacerá ayudarlo a alcanzar sus sueños de bienes raíces en México cuando sea el momento adecuado. “Todo comienza con una conversación, ofreciendo cambios en la vida, ¡para mejorar!” Oferta: Ventas, Gestión de la Propiedad y Facilitación del Alquiler.

Principal Broker & Real Estate Agent Luke Kost

Terminé!

Thank you for taking the time to help us better understand your needs / wants / desires and timelines. Each client is assigned a Real Estate Agent & Client Relations Manager. Your team will be in touch with you shortly with a list of properties that are available that match your description provided, and to answer any questions or concerns you may have or obtain clarifications to your answers listed.

Merci de nous permettre de vous offrir un changement de vie - pour le mieux !

Luke Kost Principal Broker & Real Estate Agent would like to provide you a special thank you for giving us the opportunity to know more about you and help you. Regardless of your timelines we will be happy to help you achieve your Mexico real estate dreams when the time is right. “It all starts with a conversation, offering life changes-for the better!” Offering Sales, Property Management & Rental Facilitation

Principal Broker & Real Estate Agent Luke Kost

Thank You For Successfully Submitting Your Info