Nearshoring Estimated to Boost Mexico’s Exports by $80 Billion, Experts Say
Nearshoring, the relocation of production chains, is expected to boost Mexico’s exports to $80 billion by 2027, according to a study presented by Grupo Hi-Tec. The projected annual GDP growth from 2022 to 2027 ranges from 2.6% to 3.7%. The electronics, appliances, and machinery sectors would capture 65% of the nearshoring benefits, with opportunities concentrated in cities like Ciudad Juárez, Monterrey, Tijuana, Reynosa, and metropolitan areas of Mexico City and Guadalajara.
Mexico’s exports rose by 2.9% year-on-year in the first 11 months of 2023, reaching $543.76 billion. Analysts emphasize Mexico’s significant benefits from nearshoring, with estimates of foreign direct investment exceeding $40 billion in 2023 and positive contributions to the GDP, as suggested by Grupo Bursátil Mexicano (GBM).
To Read the Full Article: https://www.forbes.com.mx/nearshoring-impulsaria-a-80000-mdd-las-exportaciones-de-mexico-estiman-expertos/