Nearshoring gains strength in Mexico thanks to the T-MEC
Barclays chief economist for Latin America, Gabriel Casillas, pointed out that after the Covid-19 pandemic, companies are betting on relocating their production. Mexico can benefit economically from this by taking advantage of its proximity to the United States and the T-MEC.
He recalled that our country received more than 30 billion dollars of Foreign Direct Investment (FDI) in 2021, while the data for the first quarter of this year are above the historical average.
Casillas mentioned that, after the war in Russia and Ukraine, companies look for their suppliers to be in a friendly country, which benefits Mexico. However, the conflict in Europe will bring more inflation.
The Covid-19 pandemic has put the supply chain under severe pressure from lockdowns and factory closures. This triggered many companies to seek to reduce their risks.
An analysis by the firm Franklin Templeton pointed out that in this context, added to the trade war between the United States and China, it is natural for Mexico to benefit since it has the infrastructure and competitive workforce.
The head of research and Latam equities at Barclays, Benjamín Theurer, pointed out that there are Asian companies coming to Mexico to be more efficient in the logistics of their exports.
In this sense, electronic commerce had an annual growth of 27% in 2021, placing it as the country with the greatest expansion in this area, 10% above the world average, according to data from the Mexican Association of Online Sales (AMVO). ).
Information from the Inter-American Development Bank (IDB) calculates that the potential gain for Latin America and the Caribbean from nearshoring can represent an increase of up to 78 billion dollars, with Mexico and Brazil being the most benefited.
Source: Mexicoxport