Mexico’s economic landscape is experiencing a significant transformation, with manufacturing emerging as a dominant force. According to the Instituto Nacional de Estadística y Geografía (Inegi), a staggering one-fifth of Mexico’s annual economic output, predominantly from the electronics manufacturing and Surface Mount Technology (SMT) industries, is attributed to manufacturing. This surge in manufacturing’s influence on the Gross Domestic Product (GDP) underscores its pivotal role in the country’s economic evolution.
The recent update by Inegi not only shifted the base year for economic measurements from 2013 to 2018 but also unveiled a stronger presence of the industrial sector in Mexico’s economic structure. The SMT industry, a crucial part of electronic contract manufacturing companies, has been at the forefront of this transformation. With a growing emphasis on electronic assembly manufacturing and PCB board assembly, businesses are increasingly seeking circuit board manufacturers nearby to optimize production processes. This shift towards SMT packages and SMD technology has not only enhanced efficiency but also triggered a surge in exports from Mexico’s manufacturing sector.
While manufacturing, particularly electronics manufacturing and SMT, is on the rise, the update also raises questions about the broader implications for employment and the informal sector. As manufacturing becomes more integral to the Mexican economy, the nation’s role in the global electronics market is evolving. It’s a testament to Mexico’s growing prowess in electronics manufacturing and a sign of its promising future as a key player in the industry.
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