Mexico

In 2018 Mexico’s economy ranked second in Latin America and 15th in the world in terms of GDP, which totalled $1.22trn, according to the World Bank. In 2019 the newly elected President Andrés Manuel López Obrador has pushed ahead with efforts to meet his pledge to tackle corruption and implement austerity measures within the government, to reduce costs and curb excessive expenditures.

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‘Nearshoring’ – whereby companies shift their offshore production capacities closer to home – is experiencing significant growth in Latin America amid the coronavirus pandemic.

The coronavirus pandemic has disrupted supply chains around the world, giving rise to systemic challenges in a range of global industries. However, the situation is also creating opportunities in some countries such as Mexico, whose medical supply sector is going through the initial stages of a significant expansion.

To what extent is Mexico’s industrial sector well positioned to withstand the global economic challenges that have resulted from the Covid-19 pandemic?

Following a coronavirus-related fall in crude prices, oil-producing nations have sought to calm global markets by announcing a significant production cut, with Mexico standing to benefit from a special dispensation in output after striking a deal with the US.

While the Covid-19 pandemic has broken 720,000 cases and led to almost 34,000 deaths globally as of 29 March, Mexico – which has the world’s 10th-largest population, at 127m – has reported 993 cases and 20 deaths.  

El primer año completo de la administración del Presidente Andrés Manuel López Obrador, comúnmente conocido como AMLO, ha representado un desafío para la economía mexicana, aunque también ha visto resultados positivos en términos de comercio internacional e inversión.

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