Economy

Agriculture may never be able to compete with the manufacturing industry as a proportion of GDP, simply due to the relative volumes involved, but this does not detract from the importance of the sector in San Luis Potosí’s economic development.

The boom in automotive jobs has been an important factor in bringing unemployment down in San Luis Potosí. In the last quarter of 2016 the state recorded the lowest ever unemployment level for the state and the fourth-lowest level in Mexico at 1.97%. As of January 2017 approximately 400,000 people were employed in the formal labour market....

Responding to the implementation of sweeping energy reforms at the federal level, Nuevo León undertook to create an energy cluster to ensure intra- and inter-sector coordination, address emerging challenges and take advantage of upcoming investment opportunities.

Nuevo León hosts a number of quality higher education institutions, some of which frequently appear at the top of both national and international rankings. With such a strong educational base, the state is able to advance research and development (R&D) and innovation, bringing with it numerous benefits for the development of the local...

Manufacturing has been a primary growth driver in Nuevo León for a long time. However, the sector has lately been experiencing a slight slowdown, as illustrated by the decline of its share in state GDP from 24.84% in 2014 to 23.17% in 2015, resulting in part from less robust demand from the US and subsequently lower exports.

Having been plagued by chronic high inflation and periodic crisis until the mid-1990s, Mexico turned to economic liberalisation in the wake of the 1994-95 “Tequila crisis”. Among the important reforms was the granting of independence to the central bank, Banco de México (Banxico), in the operation of monetary policy, along with a clear mandate...