The continuous economic boom driven by #Nearshoring in Mexico has positioned the country as one of the most attractive destinations to do business in the world. This has been a key factor in Mexican exports to the U.S. reaching USD $157 billion and U.S. exports to Mexico totaling USD $106 billion from January to April, 2023. Bilateral trade between both countries reached a total of USD $263 billion!
Latin America’s second-largest economy continues to benefit from a boost in sales of manufactured goods, which made up to 88.6% of all exports so far in 2023. Much of that corresponds to automotive shipments to the US, which jumped 31% in value from a year ago.
Mexico, particularly its northern states, is a favorite destination for companies that aim to relocate operations from China closer to the us, a process known as nearshoring.
