Nearshoring prevented a deeper downturn in the Mexican economy, says ABM
Emilio Romano, president of the Mexican Banking Association (ABM), said the arrival of nearshoring investment kept the Mexican economy from seeing a more severe decline in 2025 and other years.
The business representative added that Mexico is experiencing a situation of economic deceleration induced by the most important market for Mexico, which is the United States, and estimated that this will be short term and the country’s economic growth will soon recover.
Romano noted that Mexico will face a challenging scenario in the near future and that it appears complex since «in Mexico we were fortunate to have had vigorous growth in the United States for many years.»
According to the administration, structural developments in the Mexican economy in recent years have created a great deal of uncertainty, and judicial reform has not helped and has increased uncertainty in Mexico.
Due to a solid and strong U.S. economy, Mexico continues to grow at rates of 0%, 1%, and 2%, with growth rates of 3%, the ABM president stated.
He reminded that the country’s macroeconomic fundamentals, if not to be jumping with excitement and celebrating, are quite solid.
“Public finances are healthy, there is inflation, which has been converging to the Bank of Mexico’s target, there are balanced external accounts financed with long-term capital accounts, and the autonomy of the Bank of Mexico (Banxico) has been respected”, commented Raúl Martínez Ostos.
