Mexico | Regional Sectorial Outlook. First half 2023

Summary

Economic growth through 2023 will be modest and driven by services. A drop in the secondary sector (mainly via Manufacturing) is anticipated due to the slowdown in the economy. Tourist entities lead growth.

Key points

• Key points:
• In 2023 economic growth in most sectors will be lower than last year, but driven positively by services. Manufacturing and Transport will lack dynamism.
• At least 15 regions will be recovered by the end of 2022. Exporting industrial and tourist entities lead the recovery.
• In 2020, Mexican households increased their savings rate by 30.27%, as a result of sanitary restrictions and precautionary behavior.
• Recent FDI flows suggest that Mexico is not taking full advantage of the nearshoring opportunity.

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