Industry in Sonora will lose around US$150 million

Industry in Sonora will lose around US$150 million

SONORA – Around US$150 million could lose the maquiladora industry in Sonora alone due to the health emergency caused by COVID-19.

Gerardo Vázquez Falcón, president of the Maquiladora Industry and Export Manufacturing (INDEX) in Sonora, indicated that when exports stop, the generation of dollars for the country will stop, since Mexico will suspend almost 90% of exports.

Vázquez Falcón emphasized that this effect will impact the exchange rate and cause the Mexican peso to devalue further, since by not collecting in dollars, there will be no currency that can cope with it.

Finally, the president of INDEX Sonora pointed out that at the national level there are almost US$4 billion that will not enter this month, which will impact the compatriots who are not even sending remittances.

Source: El Sol de Hermosillo