Mexican export will grow by $80 billion by 2027 due to the phenomenon of chain displacement or “approximation” and “inertial” growth in Mexico, according to estimates on Monday of a study presented Hi-Tec Group, production specialist.
The organization presented a basic scenario 2.6% annual gross domestic product (GDP) growth from 2022 to 2027. and an optimistic figure of 3.7%, based on an analysis of data from the National Institute of Statistics and Geography (Inegi), the World Bank, the US Census Bureau and Lens Analysis.
Sectors electronics, household appliances, machinery and other manufacturing They will receive 65% of the benefits from “getting closer”, says the Hi-Tec Group study.
Photo: Cuartoscuro Archive
Although 57% of opportunities are focused on Ciudad Juarez, Monterrey, Tijuana and Reynosa, as well as in the metropolitan areas of the Mexican capital and Guadalajara.
“While it is true that there are areas that are much more developed than others, we see a clear opportunity for“small and medium-sized companies can become part of the supply chain of large companies”– commented Luciano Dorio, director of Hi-Tec Group, in a statement.
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For the first 11 months of 2023 Mexico’s exports grew 2.9% year on year to $543.762.1 million, according to Inegi.
Photo: Unsplash
Analysts agree that Mexico is one of the countries that has benefited most from the “closer” approach. a phenomenon in which companies move their production chains closer to their main markets, particularly from Asia to North America.
The Business Coordination Council (CCE) last week estimated that foreign direct investment (FDI) In 2023, thanks to nearshoring, it exceeded $40 billion.
While the Mexican Stock Market Group (GBM) has estimated that this phenomenon will contribute to Mexico’s GDP growth by almost 45 basis points per year. attract $9 billion in gross investment in fixed assets with the majority concentrated in the north of the country.
(according to information from EFE)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
