Mexico’s manufacturing industry has been one of the hardest hit by U.S. protectionist measures. According to the Timely Monthly Indicator of Manufacturing Activity (IMOAM), this sector registered an annual decline of 2.1% in April 2025, according to information published this Friday by the National Institute of Statistics and Geography (INEGI) .
In the fourth month of the year, the IMOAM stood at 107.2 points , as an advance calculation of the Monthly Industrial Activity Indicator (IMAI) of the manufacturing sector.
The estimate, with a 95% confidence interval, placed the lower limit at 104.2 points and the upper limit at 110.3 points.
According to INEGI (National Institute of Statistics and Geography), the physical volume of manufacturing production fell 2% last March compared to the previous month, and on an annual basis, it also decreased 1.5%.
The slowdown in manufacturing activity in Mexico is occurring amid a challenging global economic climate. However, BBVA Research estimates indicate that this sector will recover, albeit gradually and under the uncertain circumstances generated by the United States’ tariff policy.
Despite the negative figure anticipated by Inegi, in the first quarter of 2025 Mexico added 21.4 billion dollars (mdd) of Foreign Direct Investment (FDI) , of which 43.2% was concentrated in the manufacturing sector , where the transportation equipment, beverages and tobacco, chemical, computer equipment and food industry industries stand out.
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