Mexico City. Almost 6 in 10 US firms have relocated their operations from Asia to the United States after the Covid-19 pandemic, while 11 percent have relocated their production processes to Mexico, according to a Kearney study.
Omar Troncoso, general director of the consulting firm in Mexico, commented that 28 percent of the executives who participated in a survey indicated that manufacturing production is already located in the American Union, that is, they have carried out a process of reshoring.
However, 31 percent of CEOs of US firms intend to move production lines to that North American territory.
“For two or three years, we have been seeing a much larger trend towards returning production to both the United States and Canada,” Troncoso said in a conference.
Troncoso pointed out that although the reshoring It does not imply bringing operations to Mexico, this process also benefits the country, since these companies need others to be suppliers.
However, the director of the consultation commented that 11 percent of the executives surveyed indicated that they have already moved the firms’ operations to Mexico and Canada.
According to Kearney data, in 2023 – for the first time since 2013 – Mexico will surpass China and is now the largest exporter to the United States, as US imports of Mexican manufactured goods grew from $320 billion in 2019 to $422 billion. billion in 2023, an increase of $102 billion or 32 percent.
He highlighted that Mexican imports of transportation equipment increased 16 percent, imports of electrical equipment increased 9 percent.
He noted that “the expansion of manufacturing and warehouse space is particularly notable in areas near the US-Mexico border, but the speed with which it is happening is astonishing.”
He highlighted that relocation is happening in industries such as automotive and electronics that already have a successful history in Mexico, but other industries are not far behind.
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– 2024-05-03 19:29:19
