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Relocation and productive fragmentation

Banxico highlighted trends in relocation based on the results of companies that observed increased demand for their products or services as a result of nearshoring.

Specifically, it indicated that the proportion of companies benefiting in the sector integrated into global chains is greater than in the rest of the sectors, consistent with the fact that it is to be expected that the relocation of companies will occur to a greater extent in those sectors that have shown a greater tendency to fragment production.

In addition, among exporting manufacturing companies, the proportion of those benefiting has been higher compared to non-exporters, although both groups were impacted.

The latter emphasizes that the benefits of productive integration are not exclusive to the export sector, but that this phenomenon opens the opportunity for the development of local supply chains that allow domestic companies to insert themselves into global chains and thus promote positive economic spillovers to the rest of the economy.

More specifically, 6.9% of the companies surveyed at the national level observed greater demand from U.S.-based companies that previously obtained their products or services from companies in other countries, with a higher proportion of companies benefiting in the north than in the rest of the regions.

For Banxico, this could be explained by the geographic proximity of this region to the United States and by the composition of its production.

Relocation

On the other hand, 4.6% of the companies perceived a greater demand for their goods or services from foreign companies that have moved their operations to Mexico or from new foreign companies that have established themselves in the country, with a greater proportion of companies benefiting in the north.

Likewise, 6.6% of the companies have faced greater demand from other companies established in Mexico, which in turn have benefited from greater demand from foreign companies, with a greater proportion of companies benefiting in the southern region.

Additionally, 3.4% of the companies reported having received greater foreign direct investment, with a higher proportion of companies impacted in the north.

In recent years, various phenomena have called into question the current global production system of internationally fragmented production chains, raising the possibility that in the coming years there will be a reconfiguration of these chains through the relocation of production to places closer to the country of consumption, which will strengthen regional production chains.

 

Redacción Opportimes

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