Industrial activity in Mexico showed some signs of recovery and growth in February 2025, the month in which the United States would begin imposing 25% tariffs on various Mexican products.
In this regard, Quintana Roo, Durango, and Guanajuato recorded the best performance in terms of industrial activity by federal entity in the second month of this year, with increases of 34.5%, 10.3%, and 7.5% monthly, respectively, reported the National Institute of Statistics and Geography (INEGI) .
According to the Monthly Indicator of Industrial Activity by State (IMAIEF) , which provides information on the performance of industrial activity in the states, Tlaxcala, with a 6% increase, and Sinaloa, with a 4.5% increase, also had optimal performance in their industries during the period.
On the other hand, the states that showed the largest declines last February compared to January 2025 were Hidalgo, with 7.8%; Nayarit, with 4.6%; Colima, with 2.6%; and Mexico City, with 2.3%.
On an annual basis, in the second half of this year, the states where industrial activity grew the most were Oaxaca, with 21.7%; Guerrero, with 12.6%; Zacatecas, with 10.6%; Guanajuato, with 9.7%; and Nayarit, with 8.7%.
Meanwhile, the states that saw the greatest annual decline in industrial activity were Quintana Roo, with 48.1 percent; Tabasco, with 19.2 percent; Campeche, with 14.8 percent; Hidalgo, with 12.2 percent; and Coahuila, with 4.8 percent.
Industrial behavior by sectors
Inegi reported that in February 2025, Oaxaca, Tlaxcala, Morelos, Baja California and Baja California Sur registered annual rate advances in the manufacturing industry sector .
In construction , the largest increases occurred in Durango, Guanajuato, Mexico City, Coahuila, Puebla and the State of Mexico.
At an annual rate, in February 2025, the mining sector saw notable increases in Colima, Zacatecas, Mexico City, Chiapas, and Jalisco.
In the generation, transmission, distribution and marketing of electric power, water supply and natural gas supply through pipelines to the final consumer , the increases in Guanajuato, Guerrero, Chiapas, Nayarit and Quintana Roo stood out, also at an annual rate.
Amid uncertainty surrounding global tariff policy, industrial performance in Mexico’s states is showing positive signs, according to the current INEGI report.
However, analyst firms such as CIAL Dun & Bradstreet have noted that the country is facing a complex situation, characterized by stagnant productive activity and a slowdown in employment, so these developments should be viewed with caution.
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