Mexico

Mexico recorded GDP growth of about 1.45% in 2024, driven by strong manufacturing activity and solid domestic demand, but expansion is expected to slow to around 1% or less in 2025 amid softer investment and external headwinds. Inflation has eased from earlier peaks yet remains a factor for cost and pricing decisions, while unemployment continues to hover at a low 3–4%. With a population approaching 132 million and a strategic position within North American supply chains, Mexico remains an important hub for Swiss exporters serving both the US market and broader Latin America.

Mexico’s exports continue to rise, driven by strong integration into U.S. supply chains - around 80% of exports go to the United States. Key export segments include automotive, electronics and machinery. Imports have also grown, reflecting demand for industrial inputs and consumer goods. Medical devices represent a growing category in both exports and imports, offering opportunities for Swiss companies with high-value technologies.

Swiss companies can benefit from Mexico’s ongoing industrial upgrading and its position as a nearshoring hub for North America. Opportunities are particularly strong for firms offering high-precision equipment, automation solutions, advanced materials, and specialised engineering services that support productivity gains in local manufacturing. Demand is also rising for medical technologies, laboratory equipment, and high-value components as healthcare and life-science industries expand. Beyond industry, Mexico’s growing service economy offers openings for Swiss providers in finance, risk management, digital transformation, cybersecurity, and consulting, where international expertise and reliability are valued.

The most dynamic export prospects lie in automotive and auto-parts, electronics and semiconductors, industrial machinery and equipment, pharmaceuticals, medical devices, chemicals, and engineering-related services. Rapid adoption of automation, industrial software, robotics, and energy-efficiency technologies is creating new demand as companies upgrade plants and integrate into North American supply chains. Additional momentum is coming from sustainability-driven investments - including waste management, emissions reduction and clean-manufacturing technologies - areas where Swiss firms have strong competitive advantages.

Key challenges in 2025 include prolonged approval timelines for import permits and health registrations, which in many cases can still extend 18 to 24 months and delay product launches. Regulatory complexity remains high, and companies must monitor evolving trade measures, tariff adjustments and tax reforms affecting specific industries. Exchange-rate volatility continues to pose planning risks, particularly for firms with long supply cycles. To mitigate these factors, exporters should work with reliable local partners, maintain flexible logistics arrangements, and implement robust compliance and documentation strategies.