Trade trends between the United States and Mexico indicate that regional nearshoring has a strong momentum.
Mexico surpassed China as the number one trading partner of the United States, and it is the beginning of the strengthening of the American continent market and its presence in other continents.
Specifically, Los Dos Laredos (Laredo Texas and Nuevo Laredo in Mexico) are considered the centrifugal point of nearshoring; Its strategic location and the tradition of persevering and serious work, make this border area the most attractive commercial center on the border. Puerto Laredo is currently the busiest commercial port in the U.S. U.S. and growth is expected to continue.
The Mexican workforce, young, trained and motivated by entrepreneurial self-perception, is being supported by regional investment.
“The growth phenomenon is not only the crossing of assets by rail, ship or freight; it is the exchange of new ideas ready to reach the top of commerce“
For Mexico, it means operating Mexico’s busiest land customs. For the United States, trade with Mexico through this crossing accounts for 98% of its operations. Los Dos Laredos carries more than 40% of the trade between Mexico and the United States.
The infrastructure of the Dos Laredos is a nodal point for investors: international land bridges for vehicles, cargo trucks and pedestrians, railroad crossing and airports, and maritime cargo.
Nearshoring will allow Mexico to continue growing at a faster rate in the second half of 2024 and 2025. The boost of this economic phenomenon of growth is largely due to the privileged position, with economic and commercial advantages as part of the Agreement between the United States, Mexico and Canada (USMCA), which reduces transportation, logistics and even tariff costs.
Source: Citigroup.
Indirectly, the nearshoring strategy represents not only economic opportunities, but also environmental opportunities for companies that would be adding to the fulfillment of the objectives of reducing energy consumption and sustainability.
The so-called “superweight” on the nearshoring scenario would maintain, even within the politically transitory moments, the dynamism of trade between MX / US.
Publication: November 7, 2023.