Economic Overview and Key Developments
Querétaro, Qro. Despite being an unusual year, the economy of the state of Querétaro has shown signs of growth, and it is expected to close 2025 with a positive outcome, according to Marco Antonio Del Prete Tercero, the Secretary of Sustainable Development (Sedesu) in Querétaro.
The recent results from the Indicador Trimestral de la Actividad Económica Estatal (ITAEE) have reflected advancements in primary and secondary economic activities, while tertiary activities remained unchanged. Del Prete Tercero expressed optimism about the year’s prospects, stating that employment is being generated again and foreign direct investment (FDI) is reaching good levels in the first half of the year.
Economic Growth
According to the ITAEE, Querétaro’s economy grew by 0.6% in the first quarter of 2025 compared to the same period in 2024, based on seasonally adjusted figures. In original terms, the state’s economic activity grew by 1.5%, driven by a 5% increase in primary activities and a 3.2% growth in secondary activities. Tertiary activities did not show any variation.
This 1.5% growth surpassed the national trend of 0.8%, as indicated by the trimester indicator.
Labor Market
Regarding the labor market, this year has seen a slower pace of job creation; however, Del Prete Tercero noted that the situation has improved. In August, 4,750 new jobs were created after losing 3,050 positions in July, according to the Instituto Mexicano del Seguro Social (IMSS).
Querétaro ranked fifth in job creation in August, falling behind Sinaloa (10,094), Jalisco (8,090), Baja California (5,975), and Veracruz (5,140).
Del Prete Tercero pointed out that Querétaro ranks fifth in job creation nationally in absolute terms, indicating that the state’s economy is not slowing down but rather the national labor market.
He also mentioned that the decrease in employment might be influenced by a decline in employer figures.
Automotive Industry
Regarding the automotive industry, one of Querétaro’s key industrial drivers, Del Prete Tercero explained that the job losses in this sector could be due to various factors, including changes in vehicle platforms and the automation of processes.
He analyzed that much of the job reduction in transportation equipment manufacturing, machinery and equipment production, and metal-mechanical industry is due to modifications in vehicle platforms. The shift towards electromobility did not convince the market, and many companies are returning to hybrid or fossil fuel platforms. This change has led to adjustments.
Trade Links
In terms of foreign direct investment (FDI), Del Prete Tercero highlighted the first-half performance, when Querétaro received $970.3 million and experienced a 10.4% annual growth, according to data from the Secretaría de Economía (SE).
Regarding Querétaro’s participation in the international market, Del Prete Tercero mentioned that the upcoming second-quarter export figures are still pending to obtain the first-half balance.
According to the Instituto Nacional de Estadística y Geografía (Inegi), the value of Querétaro’s exports from January to March totaled $4,016.9 million, a yearly decrease of 10.7%, mainly due to reduced manufacturing exports. This behavior occurred amidst the uncertainty caused by the United States’ tariff policies.
