Index Occidente forecasts record exports in 2023

Index Occidente forecasts record exports in 2023

JALISCO - The maquiladora and manufacturing export industries (Index) located in Jalisco will exceed their export growth projections by the end of 2023, said Guillermo del Río, president of Index Occidente.

"We are going to break export records again," said the sector's leader, detailing that in 2022, the industry achieved foreign sales of US$31 billion and this year it expects to exceed US$33 billion.

He added that, at the beginning of this year, Index projected a 10% growth for the sector; however, by the end of 2023 it is expected to exceed that figure and reach up to 15% growth compared to 2022.

Guillermo del Río specified that of the total exports that Jalisco had in 2022, 68% came from Immex companies and added that last year, the sector generated 38,000 jobs while at the close of 2023, the projection is to generate between 15,000 and 20,000 jobs.

"The expectation for 2024 is to continue growing at least double digits; between 10 and 15% growth we will continue for the next three years," he stressed.

According to Guillermo del Río, the main factors driving the sector are the global geopolitical situation, trade wars and changing supply chain strategies.