Background on Enrique Quezada Ojeda and His Relevance
Enrique Quezada Ojeda, the president of the Industria de Exportación de Querétaro, A.C. (Index), plays a crucial role in representing the interests of export-oriented manufacturers in Querétaro, Mexico. His insights are vital for understanding the sector’s resilience amidst trade uncertainties, particularly those stemming from US tariffs.
Growth Projections and First Quarter Performance
Despite the uncertainty caused by the US’s tariff policies, Querétaro’s export manufacturing sector maintains growth projections for the year. Quezada Ojeda explained that although the first quarter’s growth did not meet expectations, he remains optimistic about future improvements.
- Growth Achieved: Quezada Ojeda confirmed that there was growth, though not as much as anticipated.
- Industry Stabilization: The uncertainty surrounding tariffs has started to settle, allowing businesses to adapt and assess their real impact.
Index members in Querétaro project an average growth of 6% for the year, which is considered a strong performance given current conditions.
Impact of Tariff Changes on the Industry
The first four months of 2024 brought changes and uncertainty as the industry awaited the US’s tariff announcements. Quezada Ojeda described this period as having numerous shifts and a lot of uncertainty regarding the new US policies.
However, more clarity has emerged in the fifth month of 2024. Tariff implementation seems clearer, providing some relief to businesses as they can now better understand and plan for potential impacts.
The automotive industry, which initially faced significant tariff risks, has seen these concerns diminish due to the protection offered by the Mexico-United States-Canada Agreement (T-MEC).
Quezada Ojeda noted that while the automotive sector has experienced reduced tariff risks, other industries—such as those dealing with aluminum and steel for can-making—may still face challenges.
Key Export Sectors in Querétaro
Transportation equipment manufacturing is the leading export sector in Querétaro, accounting for 50.4% of the state’s total export value in 2024, according to Mexico’s National Institute of Statistics and Geography (Inegi).
- Transportation Equipment: With $8,885.7 billion in exports, this sector dominates Querétaro’s export landscape.
- Accessories and Electrical Appliances: These industries contributed 13.1% to the state’s export value.
- Machinery and Equipment: This sector accounted for 9.4% of Querétaro’s total export value in 2024.
Key Questions and Answers
- What is the current growth projection for Querétaro’s export manufacturing sector? Index members project an average growth of 6% for the year, which is considered a strong performance given current conditions.
- How have tariffs affected Querétaro’s export industries? Initially, the automotive industry faced significant tariff risks. However, with protection from the T-MEC agreement, these concerns have diminished. Other industries, like those dealing with aluminum and steel, may still encounter challenges.
- Which sectors are the most significant exporters in Querétaro? Transportation equipment manufacturing leads the way, accounting for 50.4% of Querétaro’s total export value in 2024. Accessories, electrical appliances, and machinery & equipment follow closely with 13.1% and 9.4%, respectively.
