Key industries in Mexico, such as agriculture, food, mining, and metallurgy, could become less competitive due to rising costs, which would cause immediate inflation in the United States. At the same time, segments like biotechnology, optoelectronics, and the aerospace industry have driven demand for industrial real estate, propelling Mexico to the second position as a global exporter, just after China, which experienced a decrease of 4.4%.
Nearshoring has played a significant role in exports, accounting for 28% of the total accumulated industrial space in the 13 market corridors. The gross absorption in this sector at the end of last year was 2 million square meters, reflecting a 5% decrease compared to the previous year. Expansion is notable in cities like Tijuana, Ciudad Obregón, Juárez, Guanajuato, and Hidalgo, as well as the arrival of new companies in places like Guadalajara, Aguascalientes, Saltillo, Monterrey, Reynosa, San Luis Potosí, and Querétaro.
The impact of the imposition of tariffs on Mexican exports to the United States, especially in the automotive industry, has been reflected in the industrial real estate market. The demand for spaces generated by the automotive industry represented 39% of the total, followed by machinery and tools with 31%. Cities like Ciudad Obregón, San Luis Potosí, La Laguna, Aguascalientes, Saltillo, Hidalgo, and Guanajuato have experienced significant momentum in this aspect.
The possibility that certain automotive production may remain in Mexico while others move to the United States, in the event of higher tariffs, is a scenario being considered. The existing integration in the country is highlighted, and it is recognized that reversing this process may take time. It is evident that the change in conditions will not affect all sectors involved in the same way.
