Mexico has defied pandemic, social, economic and political challenges. It has positioned itself as one of the main investment destinations due to its various competitive advantages, among them, as mentioned in previous articles, Mexico’s geographical location is essential, as it favours the implementation of trade agreements such as: T-MEC. Economic growth can be felt in various sectors of industry in Mexico. However, the manufacturing industry has experienced significant growth, from the attraction of foreign companies to the promotion of nearshoring.
According to INEGI, manufacturing trends in Mexico led to growth of 7.5% on the Monthly Opportune Indicator of Manufacturing Activity (IMOAM) in September 2022. The National Council of the Manufacturing Export Industry anticipated that Mexico would receive $11 billion dollars of investment in the coming year. Industrial production is on the rise, the performance of its economy is optimal and the Federal Government forecasts a growth of 3% in 2024.
Mexico’s competitive advantages contribute to the growth and development of the country’s economy. The contribution of the manufacturing sector raises the production whose behaviour is reflected in its figures.