Canada invests more than US$266.9 million in Aguascalientes

In the heart of Mexico, Aguascalientes emerges as a bastion of opportunity for Foreign Direct Investment (FDI), particularly in the manufacturing sector. Recent data from the National Institute of Statistics and Geography (INEGI) illustrates a vibrant economic outlook during the third quarter of 2023, with Aguascalientes registering growth of 7.1%, significantly outpacing the national average of 3.3%.

With a 12.4% increase in secondary activities, Aguascalientes demonstrates an exceptional capacity to attract and sustain investment, in addition to boosting the economic potential of the Central Bajio and Western region of the country.

An analysis by the Mexican Institute for Competitiveness (IMCO) reveals the even more promising outlook for the state, during the first nine months of 2023, nearshoring-related FDI had a 47% increase, in contrast to a 27% decrease in non-related FDI. 

From 2013 to 2022, Aguascalientes has maintained an average annual growth of more than 200% in the receipt of FDI, consolidating its position as a focal point for foreign investment. This growth is reflected in the diversification of industries, with investments registered in 39 of the 57 branches linked to nearshoring. 

The countless competitive advantages such as the strategic location in the center of Mexico and its proximity to the U.S. and Canadian markets, in addition to the favorable business environment and its highly qualified labor force, make Aguascalientes the ideal destination to capitalize on these new business opportunities.

The automotive industry, in particular, has found a thriving home in Aguascalientes, with significant investments and a robust supply chain that supports its continued growth; in 2022 alone, motor vehicle parts manufacturing and car and truck production accounted for 61% of state FDI.

The trade relationship between Aguascalientes and Canada is a testament to the growing economic interconnectedness in an increasingly globalized world, with a steady flow of goods and capital, both regions have established a strong, mutually beneficial collaboration.

In terms of foreign trade, Aguascalientes recorded imports of Canadian products worth US$90.4 million in 2022, highlighting liquid filtering devices, motor vehicle parts and textiles. These imports not only satisfy local needs, but also feed the supply chain of key industries in the state.

On the other hand, exports from Aguascalientes to Canada show a steady flow of high-quality manufactured goods. In 2022, such movements amounted to US$39.3 million, led by parts for combustion engines, motor vehicle parts and apparel, thus demonstrating Aguascalientes' competitiveness and capacity to meet the demands of the Canadian market.

This commercial exchange has been complemented by a Canadian investment of more than 266.9 million dollars in Aguascalientes, becoming one of the main foreign investors in the state and thus contributing to economic growth and job creation, as well as to the strengthening of commercial and cultural ties.

In this context, Aguascalientes stands out as an attractive destination for international investors seeking to establish operations in Mexico and expand their presence in North America. With the leadership of Governor Tere Jiménez, Aguascalientes is positioned to continue its rise as a leading economic and commercial center in the region.