22/10/2024
BBVA and AMPIP (Mexican Association of Industrial Parks) indicated in the second edition of their survey, “BBVA Research-AMPIP,” that they expect 100 foreign companies to arrive in the country by 2025 due to nearshoring to Mexico.
The report states that this trend continues the dynamic observed since 2023.
According to El Financiero journal, which published the report's data, AMPIP members recorded 669 new companies in the parks they manage between 2018 and 2022. In 2023, the number was 196 companies, and by 2025, they expect to receive 399 new companies, including 201 throughout this year (2024).
OECD lowers economic growth forecast despite nearshoring in Mexico and productive activity
Despite the impact of nearshoring, the Organization for Economic Co-operation and Development (OECD) recently lowered its economic growth forecasts for Mexico this year and in 2025.
In its Interim Economic Outlook report, updated every four months, the OECD forecast that the country's Gross Domestic Product (GDP) will grow by 1.4% this year, down from the 2.2% forecast in May.
The OECD cited the moderation of domestic demand as the reason for the revised forecast, which it expects to intensify in 2025. The services sector needs to gain momentum.
Mexico's economic growth projections are lower than the 3% GDP increase forecast by the Mexican government in its annual budget plan.
According to the OECD document, the GDP growth forecast for Mexico in 2025 also decreased from 2% to 1.2% in the update.
The OECD also anticipates a slight reduction in economic growth in the United States (1.6%) for 2025, down from 1.8% in its May estimates. This trend aligns with Mexico's forecast, which would influence U.S. economic dynamics.
While the OECD does not specify the causes for the reduction in 2025, El Economista journal reports that analysts from U.S. investment institutions believe that this country impacts Mexico’s economy due to:
- The slowdown of the U.S. economy.
- The effects of restrictive monetary policy.
- Uncertainty generated by potential constitutional reforms.
- Investment stagnation due to the ruling majority in Congress.
- The fiscal consolidation strategy Mexico’s government will face.
For the global economy, the OECD anticipates growth of 3.2% this year, an upward revision from 3.1% forecast in May, and projects a 3.2% increase for 2025.
In their report, AMPIP and BBVA indicate that, in 2024 and 2025, 34% of all companies setting up in Mexico due to nearshoring will come from the United States, underscoring the importance of that country for Mexico's economy. This share equates to 135 out of 399 companies.
Amid the growth in productive sectors driven by nearshoring in Mexico, Frontier Industrial offers Class A infrastructure in various industrial parks located in the country's most active regions.
If your company seeks a location to establish operations, feel free to contact us and develop your project.
