The Effects of Nearshoring Already Evident in Mexico’s GDP: Barclays
Barclays’ chief economist, Gabriel Casillas, highlights the significant impact of nearshoring on Mexico’s GDP. Entrepreneurs and developers are opting for local bank loans to build industrial parks, indicating strong interest in this strategy. Nearshoring, a response to deglobalization driven by geopolitical events, involves the relocation of multinational production lines to protect their business operations. This shift has generated notable growth in the automotive industry and significant Foreign Direct Investment since 2021.
According to Casillas, this trend will be reflected in economic growth, with an estimated 3% increase in GDP in 2024, driven by the United States, public spending, and manufacturing investment.
To read the full article: https://www.eleconomista.com.mx/economia/Efectos-del-nearshoring-ya-se-reflejan-en-el-PIB-de-Mexico-Barclays-20240126-0079.html