After a decline in the volume of exports, the manufacturing industry has made considerable recovery.
According to Luis Aguirre Lang, who has just concluded his term as President of the National Council of the Maquiladora and Export Manufacturing Industry, the Export Promotion Program (IMMEX) started to recover in June and just in that month the exports from the country’s manufacturing industry were 19.41 billion dollars, compared to the months of April and May when, due to the COVID-19 pandemic, the volume of exports dropped between 41% and 50%.
Considering the above, June exports are equivalent to the average of what was exported in the first quarter of the year, and the growth of the trade surplus was recovered.
Currently, manufacturing production is the main source of foreign exchange in the country and the growth that this sector has had in recent months is expected to continue. There is a chance of a full recovery from the impact of the pandemic in April and May by December, creating growth between 6% and 8% compared to the same period in 2019.
In recent months the manufacturing industry has also updated safety protocols according to health recommendations issued by federal authorities. Aguirre Lang considered that having known of the pandemic since January from the information provided by companies in Asia was one of the aspects that contributed to economic recovery.
Another aspect of the foregoing is that nearly 70% of the IMMEX program’s manufacturing industry is considered essential, which contributed to the fact that production in this sector not to stop during the most critical months of the pandemic, although in most cases it operated with a reduced workforce.
Aguirre Lang forecasts that some companies will close 2020 with double-digit growth, due to increased demands for medical and telecommunications products.
In addition, it is important that entrepreneurs promote productive platform investment in inputs that are imported and can be produced in Mexico, to strengthen the national industrial supply to be globally competitive.
Oradel Industrial Center promotes the growth of Mexico’s manufacturing industry by offering industrial buildings with all the necessary services for international companies to establish their operations in the northeastern US-Mexico border.Located in Nuevo Laredo, Tamaulipas, only 10 miles away from the international bridges to the United States.