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Country Highlights

Mexico Manufacturing: Growth of the Sector

The manufacturing sector is a vital component of the Mexican economy, representing 18.5% of the country’s GDP and attracting 47.9% of foreign direct investment (FDI) over the last five years. Mexico’s manufacturing industry benefits from several competitive advantages, particularly in reaching the U.S. market. The country’s strategic location and its 14 free trade agreements with over 46 countries, including the European Union, have positioned it as an attractive manufacturing hub with preferential access to several markets.

The manufacturing sector in Mexico is characterized by its significant economic contribution with a total income of $11.1 trillion MXN in 2019. The sector also plays a crucial role in employment, with a workforce of 9.67 million people, and it is concentrated in states such as Estado de México, Jalisco, and Puebla. The industry’s total gross production was reported at $10.8 trillion MXN, highlighting its substantial economic output.

Mexico’s manufacturing industry has been a key importer of advanced manufacturing (AM) products, with the United States holding a significant market share. The country’s total imports of AM-related equipment reached USD 37 billion in 2022 with a 51% market share held by the U.S. This import activity presents opportunities for U.S. manufacturers of AM— as Mexico’s demand for these products continues to grow annually.

The manufacturing market in Mexico is projected to grow by 3.30% from 2024 to 2028, resulting in a market volume of US$206.10 billion in 2028. This growth is driven by various factors, including nearshoring trends and the country’s expanding manufacturing exports to the U.S., which are estimated to reach $609 billion in the next five years.

Mexico’s manufacturing sector is a significant contributor to the country’s economy, attracting substantial FDI and playing a crucial role in employment and economic output. The industry’s strategic position, coupled with its import activity and projected growth, underscores its importance as a key player in the global manufacturing landscape.

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Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

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