Mexico could be the Latin American country with the greatest capacity to take advantage of the nearshoring trend. This implies locating consumer goods production centers in nations where labor costs are lower and geographically close to the areas where they are consumed.

"Mexico would be the best positioned country in the region to benefit from this effect because it already has a large manufacturing industry, as well as being geographically close to the United States," Patricia Krause, Latin America economist at the French Foreign Trade Insurance Company. (Coface), he commented at a press conference.

Check here: Guanajuato is a key investment point for industry 4.0 and electromobility

The specialist explained that nearshoring generates export opportunities in the long term, considering the slow growth of the US economy that is expected for this year.

“This does not mean that it will grow in the short term. There are sectors that have good potential to export, such as the automotive sector, which is already key, but with the management of electric vehicles it must receive a lot of investment," said the Coface executive.

Of interest: Industrial construction of the country in expansion and concentrated in large-scale buildings

He considered that Mexico's economic growth could be expected to be just over 1.2% this year.

For Mexico, Coface maintains the forecast for growth in agricultural production in 2023, despite the drought that is registered in 48.6% of the municipalities.

In Solili you can consult industrial warehouses available in Monterrey, Guadalajara  and Tijuana

Original note